Implementing a data capture system seems intimidating to many businesses. Part of this may be the imagined expense, and part of it may be the thought of the capture process happening digitally. In reality, data capture revolutionizes how you do business in many ways, and truly pays for itself.
What makes InStream’s data capture advanced are the many automation capabilities. InStream can cover your business’s processes from capture, all the way to the end of the workflow. The efficiency provided by advanced data capture allows you to get more work done in much less time, increasing ROI.
Hypothetically, if your business continues to manually process paper documents, more people need to be hired to keep up with the increasing influx of documents that are part and parcel of a growing company. More staff means that there are more people who need to be paid.
Because advanced data capture frees up employees from the extensive process of manual data processing, they are free to concentrate on other areas of the company that could possibly generate more revenue. This also means that your company can grow with the staff that you currently have, which means less expensive hiring.
Other than labor costs, advanced data capture with InStream saves your company considerable money on off-site storage, late payment fees, floor space, and compliance costs. To use a specific example, InStream serviced a manufacturer who, at the time, paid $300,000 dollars per month in invoices. The company utilized workflow services like 3- way matching and approval, and because they were finally able to pay their bills on time, they were able to take a 2% discount on 50% of their invoices. This generated about $3,000 per month, which added up to a significant $36,000 a year. This doesn’t count what they saved on storage, a lack of late fees, or other costs normally associated with paper processing.
This is just one of many examples of how InStream can change how your business runs forever. Not only are you receiving the highest quality of data capture technology, but your company will reap all of the benefits of data capture and automated processing. Your own business rules can be applied to the system that fits your business best, making a customized solution that will save your business time, money, and space. Don’t be afraid to shake up your old system and streamline your business with InStream.
