Data Capture

Let’s agree on the obvious: the world we live in now is more and more close-knitted through  digital transformation. It has succeeded in integrating every mundane and monotonous business models with productive  digital technologies. Smartphones’ arrival and the way they have simplified our everyday tasks are a well-known fact. Mobiles are more adaptive in touching every sphere of enterprises as they serve as the platform for various astounding applications.

Data, be it a small grain or in a voluminous amount is an integral part that defines the modern business domains. Excessive inbound information and its high velocity are baffling, and companies are seeking methods to utilize of these multi-directional data. But understanding the data, processing, extracting meaningful value from it, and communicating it in a beneficial way seems to be a bit trickier than what we imagine it to be.

Following the wake of the global financial crisis 2007-08, the business market was feared to have experienced an irrevocable blow. But it was the manufacturing industry that helped the economy to rebound to its steady state. The World Bank itself has acknowledged the “cyclical recovery of the global economy by manufacturing activity.”

If we were to name a persisting issue that seems unsolvable in business sectors, it is the issue of securing the business data. Cyberattacks are becoming more prevalent, endangering the security and safe transaction of data. So companies are now forced to resort to the necessary means to ensure data security.

The housing market is recovering from the global financial crisis in 2008. Statistics corroborate this fact. Statista.com has estimated that in 2017 alone 3.69 million home purchase loans were approved in the U.S and numbers are rising. Owning a home is becoming a reality for dreamers.

Have you ever wondered what happens to your data you left behind when you apply for a bank loan? How trustworthy is the bank in keeping your private data safe?

To regulate and assure the data security, the European Union has established the General Data Protection Regulation (GDPR). This massive step of data privacy legislation guarantees the ownership of consumer data to the individual customer. This new regulation has a significant implication on the enterprises.

The stack of scanned paper documents and the trouble of searching for its information is beyond comprehension. A majority of modern organizations are troubled that. In that same vein, law firms are no exempt, and they are also the consumer of paper documents. Court rulings, subpoenas, affidavits, and the list goes on.  

Financial accounting, which is justly called the “language of business” records the economic activities of an enterprise. And the prime focus of accounting is to disseminate the information for the creditors, investors, or other financial regulatory bodies. Of all the business sectors, accounting and finance are highly sensitive partly because they are accountable to the accounting firms and governmental regulators.

A large number of paper ledgers, auditing, and taxation documents have made it difficult for companies to gain vital information from the stack of digital papers.

Banking is the cornerstone for the economic growth of a nation. Investment banks and commercial banks alike have numerous documentation processes that it is difficult to keep up with them all. And many of the business-related notations and various banking documents are in the non-editable, digital and paper formats. What do we do if we have to extract the information which is embedded in these documents or images? How to extract and process this information for effective decision making?

Data capture software for banking

Middle East countries, whose economy depends entirely on its natural oils, is shifting its center of economic attention to much diversified public service sectors. Saudi Arabia has already made its move by declaring “Saudi Vision 2030”, a plan to enlarge its economic fortress. It is a winning move since the plan includes logistics and supply chain as its primary focus. So it is certain that the logistics business is going to see an unprecedented boom in the middle east.