The whole process of running a business consists of different stages. Looking at what is already out in the market, investigating what is significant for your company, contacting different suppliers and requesting a quotation to finally reach an agreement. Making the order to the supplier, receiving the goods, storing them and, finally, providing them to the customer. This is a slow process that takes time. Of course, when you already know your supplier, the process speeds up. Yet the contact from the supplier to the customer is still a long process. Running a business takes a lot of time, and that is why it is important to be passionate about it.
This is understandable, but there are other tasks that consume a lot of time when they should not. We are now referring to financial processes. Many years ago, you could see the accounting and finance department full of documents: invoices over here, receipts over there. And that by itself took time to organize all the paperwork, to make sure that nothing was lost. On the other hand, manual data entry by employees required even more time. This is not something new, but there are still companies that have not improved their processes and are still wasting time on tasks that could be done in a matter of seconds by a computer.
Why saving time is relevant for your business
If you are thinking that spending time on manual data entry is not that bad, you are missing some key points of what it takes to run a business. It is true that some employees might have the only task of processing expenses and invoices, and they can do it, hopefully without making human errors. But, how many documents do they process per day? Far less than they could process with the help of a software that does it automatically. The time they would save in processing one document could be spent on processing two, three or even more documents. This means time efficiency, which leads to greater supplier and customer satisfaction, and just as important, employees’ satisfaction.
Furthermore, it is not only about how many invoices can be processed in one day. Saving time on this particular task can allow employees to focus on other tasks that are relevant to make the business grow. Keeping the bookkeeping up-to-date is crucial for companies, but so is ensuring that they work on the growth of the company.
To be focused on these relevant tasks, time management is key for the company. Any employer will be looking for the best way to prevent their employees from wasting time. As mentioned above, saving time in document processing is one way to increase productivity. Higher productivity translates into better results. And this, after all, is what a business needs: good results to get the business to the top.
How to get the best out of your time
We have given a clear explanation of why it might be important to save time in processing documents. We will take a step further and explain how you can easily achieve it: OCR. Optical Character Recognition is a technology that, as its name indicates, automatically recognizes the text contained in a document. The employee will process an invoice or receipt in a few seconds! All relevant data, previously entered manually, is automatically extracted thanks to OCR.
We will take a step further again and explain where you can find this solution. Today, digitization and automatization are gaining more and more attention, so the market offers these solutions. At Klippa we realized this 5 years ago. We have been in the market for long enough to have become experts in the recognition of all the data you need to extract from your documents. Not only is our OCR engine valuable, but also the Expense Management and Invoice Processing solutions to easily process and account for your expenses and costs. Klippa has different solutions to offer you.
We love to show how this OCR works in practice because we believe this is the best way for you to understand if this is a solution that suits your case. One of our experts is willing to demonstrate its functionality in a free online demo, where we will respond to any questions you might have and find the tailor-made solution that fits like a glove to your unique case. You can contact us at firstname.lastname@example.org or +31 50 211631.