BENEFITS OF LEVERAGING DOCUMENT CAPTURE IN THE WAREHOUSING AND LOGISTICS SECTORS
To digitise the manual document processing, logistic companies are investing money not only to catch up with the trend but also for their own betterment. There were so many people involved previously in just processing day to day documents, forms, and bills. As with any manual process, the factors of errors and mistakes are extremely high, and it would reflect during auditing. But by document capture technology, everything is digitized, and there is no chance of errors and mistakes, and naturally, the efficiency of processing document reaches the peak.
If you keep aside document capture and storage, it does not take high imagination to understand how much time is wasted processing the forms and bills. The process involves calculation, segregation of different bills according to items, levying taxes as per different types of transport mode and area, creating different types of bills like freight bill, bill of lading, FOB terms of sales, commercial invoices, etc. With the help of electronic document capture and processing technology, everything can be done in the splash of an eye. Therefore, apart from it being efficient, it saves a lot of time and resources.
The reason why warehouse companies are investing so much money in the digital transformation of the entire document capture and processing is because they see that in the long run, they are actually going to save more money than they are investing. There is less need of human resources, more time availability for relevant works, less paper buying cost and likewise.
USE CASES FOR DOCUMENT CAPTURE IN THE WAREHOUSING AND LOGISTICS SECTORS
Using document capture physical documents such as delivery receipt, bill of lading, bill of sale, sea waybill, FOB terms of sale, commercial invoices, payment clearance receipts, additional taxes and charges bills can be digitised and relevant information can directly be transferred to warehouse management system.
Just as inbound documents, outbound documents can also be digitised and extracted data can be transferred to warehouse management system.
In today’s world, every industrial sector is in the process of digitisation. The less the manual paper work, the more will be the efficiency and time-saving. Logistics is a sector that has a co-relation with every other sector. Since all the co-related sectors are is the process of digitisation, it is of immense importance for logistic and warehouse companies to upgrade themselves and be at par with the current trend in the market. As a matter of fact, logistic is one of the foremost sectors to have undergone the process of digitisation because a lot of paperwork is involved at every stage of goods processing for transport.
The logistics sector is a paper-intensive sector. There are no other industrial sectors that have so much paper works involved. There are so many types of forms involved for different types of logistic categories. For example, there are bills of lading that contains the name of the items to be transported, there are freight invoices where all the transport costs and other taxes are mentioned and likewise.
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.