Data Capture

“Failing to Plan is Planning to Fail.” Production Planning and scheduling will provide maximum efficiency from machinery and shop floor worker. Having a solid plan with required inputs in place during the production - removes last minute chase, reduces stress, and increases productivity. Keeping too many increases handling issues, wastage, and damages. So production planning is not giving too much or too less – it’s about providing the right quantity “On-Demand.”

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.

Filing and archiving business documents should be one of the critical operational goals of an organization. Documenting the business records for future reference is advantageous as it provides greater visibility to the business operations.

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.

Paper documents and the process of searching for the information in it is beyond comprehension. Law firms are no exempt either -  they are also the largest 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.