Boosting Productivity with Document Processing Services
August 31, 2023 || FCTEC
Document processing is more than just managing paperwork more efficiently within the organisation, it’s key to improving employee morale and productivity while minimising customer friction and embedding customer delight.
Know your customer (KYC), FICA, RICA, corporate policies, customer onboarding, employee onboarding, insight extraction - paper still has a place in this digital world. McKinsey describes it as an essential tool that many organisations still use in their processes, despite the move to an increasingly digital world. It has become increasingly important to find ways of optimising the management of paper to extract its value and maximise efficiencies while removing the obstacle of time-intensive, labour-intensive manual processing that introduces errors and reduces an employee’s productivity.
In the financial services or payment processing sectors, for example, there is a significant amount of paperwork generated across customers, suppliers, companies and employees. While many have moved most of their processes away from paper, they have found that ‘eliminating it is more difficult than they anticipated’. Considering the scale of these sectors and the need for paper-based processes, it’s unlikely that they will come to a sudden end any time soon. This is a mood reflected across most companies and sectors. Paper is still an important part of the business.
The problem is that documents require processing, and this can be slow, boring, and repetitive, and this introduces the following risks:
- Employees undertaking admin-intensive tasks don’t get much job satisfaction.
- Manual-intensive tasks can introduce errors and operational inefficiencies.
- Documents sit in silos instead of being readily accessible across the business which makes it difficult to find them or extract the value of their data.
- Documents get lost because of manual human intervention.
Which is where digital steps in.
While many paper processes will remain just that, on paper, digital has evolved to provide companies with rigorous document processing management services that allow for them to save time, improve the quality of their document data, remove the labour-intensive tasks, and gain rich visibility into document location and insights.
Even better, an outsourced document management service removes the burden of manual labor from the company and its employees and replaces it with a document processing bureau that manages the document preparation, scanning, validation, data entry, form processing and invoice management. It replaces the traditional complexity associated with document management with workflows and efficiencies that increase productivity.
Document management outsourcing empowers the workforce, freeing up time and manpower to focus on innovation and service delivery rather than on paperwork. A dedicated document processing bureau runs 24/7 which means that essential paperwork and business processes are always running and always optimised.
With FCTEC, you get a document processing bureau that manages your documents as a service and delivers measurable gains in productivity and visibility alongside measurable reductions in costs and complexity. Our state-of-the-art technology gives you the freedom to focus on your core business solutions and to reassign resources to revenue generating tasks while ensuring that your document processing is seamless and efficient.