Somewhere in your office, a capable person (probably you!) is reading numbers off a PDF and typing them into another screen. Then doing it again. If you added up those minutes across a month, or a quarter, or a year, what would the totals look like?
Most small and mid-sized businesses handle documents this way because it works, more or less. Invoices, receipts, emails, and all manner of paperwork both physical and digital come in, and you have to enter the details into your accounting or CRM platform, and you move on with your day (until it happens again). At best, you pay the cost in billable minutes and hours slipping away, at worst, you pay the cost in the fallout of how bad a particular typo was.
Fortunately, there’s a better way to do things! Thanks to Xerox technology, you can not only save time (perhaps an incredible amount of time), but also reduce errors. Let’s learn more about how it works:
Introducing the Xerox EveryDoc IDP App, an Affordable IDP Solution for Small Businesses
Intelligent Document Processing, or IDP, can be simply understood in this way: instead of you reading your paperwork and manipulating the data therein, software will do it for you instead. The Xerox EveryDoc app can accept documents from various sources, such as your Xerox multifunction printer, email attachments, specified folders from your cloud storage (such as SharePoint), or even a handwritten form you just scanned in.
Once EveryDoc gets a document, it will “figure out” what that document is. For example, a packing slip will be recognized as a packing slip, an invoice as an invoice, and so on. This capability means that you can scan mixed batches of documents, and EveryDoc will be able to figure out what each document is and what it’s supposed to do with it. In other words, you don’t have to scan invoices only, expense reports only, and so on. The convenience here cannot be overstated (and it’s a quick way to declutter a messy inbox).
From there, the app extracts data from the areas of the document that you need, such as a vendor name, or an invoice number, or things like line item totals, dates, names, phone numbers, and so on. Common document types come preconfigured, or you can set up customized workflows.
What Kind of Results Does the EveryDoc IDP App Yield in a Typical SMB Setting?
The results a typical organization gets from implementing intelligent data processing are pretty impressive. Businesses using it can often cut document processing time by as much as 75%, which, especially for paperwork-heavy working environments, can be huge.
“Extraction accuracy,” meaning how often the system is absolutely confident that it’s right, can reach 95% or more depending on the document type and how your setup is configured.
If that lingering 5% makes you nervous, it’s important to note that when the app isn’t absolutely confident about a field, it flags the item and shows you a confidence score. This means that uncertain data is far less likely to slip through, since a person can inspect flagged items and approve or correct the data.
Excited To Learn More About How Technologies Like IDP Can Enhance Your Workplace?
Reducing the amount of time you spend on repetitive data entry is one of the best ways to utilize modern Xerox technology, and IDP is the perfect starting point for small businesses interested in getting started. The Xerox EveryDoc app is affordable, intuitive, and doesn’t require a dedicated IT department or expert programmer.
If you’d like to learn more about how this app and others integrate with your Xerox multifunction printer, or you want to upgrade your office equipment generally, we’d love to start a conversation with you. Please feel free to contact us today or request a free quote.
