In the logistics industry the amount of paperwork can be seemingly endless – BOLs, PODs, freight and commercial invoices, packing lists, customs documents – the list goes on. By now, many companies have implemented some form of document OCR to extract the information from the documents, but what happens once that is done? Employees are left with a stack of documents to be manually filed – indexed – into their corresponding folders.
What is Document OCR?
OCR is short for Optical Character Recognition, which is a type of software used to convert data found in scanned documents, PDFs, or images into editable formats. Of the entire document processing workflow, this is only one step. After this initial conversion, some OCR softwares still requires the data to be manually migrated or re-keyed.
What is Document Indexing?
Document indexing is the final step of processing a document, but arguably one of the most important. After the data is analyzed and migrated into a company’s TMS, the document needs to be sorted into its respective folder. If the file is not sorted properly it can lead to expensive bottlenecks down the line.
- According to research found on AIIM:
- The average cost of filing a document is $20
- Finding a misfiled document incurs $120 in labor costs
- Reproducing a lost document can cost as much as $220
- Percent of documents that are lost: 7.5%
- Percent of documents that are misfiled: 3.5%
Now multiply that by the thousands of documents that are sorted every year.
Bot of the Month: RPA Labs Document Indexing Bot
We have developed pre-built, ready to go Software Bots for each step of the document process workflow. Even if you already have an OCR solution for converting data from documents in place, implementing our Document Indexing Bot can supplement the rest of your document process.
Document Indexing Bot: Analyzes documents and places them into the correct folder
- Analyzes document type, load numbers, vendor/customer names, dates, amounts, or any other set parameters
- Eliminates manual indexing
- Automatically matches documents with the correct load
- Processes documents up to 85% faster and makes fewer mistakes
How a Mid-Size Freight Forwarder is Utilizing RPA Labs Document Indexing Bot
RPA Labs’ customers are already seeing the benefits of implementing the Document Indexing Bot. A mid-size freight forwarder came to us with new-found automation needs that came to their attention after implementing a Document OCR software. The data was being extracted from the documents, but manually sorting the documents into correct folders was taking several hours away from key staff members every day. Our Document Indexing Bot is now migrating commercial invoices and packing slips from emails into their TMS, saving as much as 20% in operational costs and drastically reducing error rates in their document workflow.
Implementing the Document Indexing Bot can be done within days and is able to integrate with any legacy system. To schedule a personalized demo, click here.