Managing different construction projects creates a lot of manual labor especially in subcontractor and invoice management processes. Utilize document capture and transfer valuable information to your construction project management software.
BENEFITS OF LEVERAGING DOCUMENT CAPTURE IN THE CONSTRUCTION SECTOR
Saving time is the most important factor in adopting document capture technology in the construction sector. Companies need to digitise all forms so that there is hardly in paperwork and everything become paperless. Everything will be stored in the electronic media and they can be retrieved from anywhere in case they are stored in the cloud system. There would not be any requirement to have so many employees to process documents, financial reports can be generated instantly and there would be no requirement of creating big rooms for library and storage of all relevant and irrelevant documents as such.
The efficiency in processing the documents are high and there is hardly any scope of miscalculation that was there previously due to human errors. The work output would also increase due to efficiency and it will lead to better revenue and financial growth. Documents are also stored in an efficient way and searching anything can be done in a splash of an eye.
Even though companies have to make a one-time initial investment, the fruits of the investment can be enjoyed in the long run. There would be no extra expenditure for buying paper, storing them in different rooms and employing people to take care of them and search for specific documents.
USE CASES FOR DOCUMENT CAPTURE IN THE CONSTRUCTION SECTOR
Using document capture construction companies can garner all the documents related to the subcontractor company and its employees and store the relevant information in its construction management software.
Manual processing of invoices is a big burden on construction companies. Using document capture, relevant fields of information can easily be extracted from invoices from different vendors, and data can be directly transferred to accounting software.
Document capture allows for data extraction from not only physical but digital documents as well. You can easily extract relevant information from a project financial plan excel and transfer the data into a condensed report format.
The construction sector has a huge scope of digitisation through document capture. It is a paper-intensive business and it is linked with all the different types of other businesses that can exist. With the automation and digitisation of those other sectors, it is a perfect time for construction companies to adopt the trend and make their business dealings completely paperless. There are so many advantages for using document capture system in construction that in a very short time, the initial investment for the installation of the system will be retrieved and companies will be able to save a lot of expenditures.
We utilised CaptureFast Mobile Capture Application to digitise Personal Pension Application forms. We were able to eliminate time lost during the messengering of documents, speeding up the process by 40% and we were able to complete enrolment process immediately while the agent was serving the customer.
We used CaptureFast cloud platform to extract information from health invoices and insurance policy application documents. Automating these processes allowed us to reduce personnel by 50% and increase data processing speed by 70%.
We utilised CaptureFast mobile capture application in order to create a digital archive of protocols and contracts. We were able to digitally archive 200K documents in one year.