Data Capture Solution for Accounting and Finance

11/28/2018

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.

Eliminate manual data entry:

A successful and organized company regularly records and updates its financial transactions. The general accounting data entry consists of recording, labeling, assessing, and producing the data to keep track of the actual monetary funds. But the problem is, the information from various paper documents is extracted through manual means. For example, a delivery receipt contains the details of the delivered items, quantity, acknowledgement data etc. To keep the data for future auditing or tax calculations, the data entry operator manually types the necessary data into another digital file.

Now, Kaptiche efficiently automates this manual data entry. It digitally extracts the financial information and converts them into a readable digital file format. Where you had to spend hours entering the data manually, now you can have it extracted in minutes. Since Kaptiche is quick and reliable, you can extract the data from millions of documents without any time delay.

Capture information from different sources:

Many companies represent their fiscal year budgets or reports in several different tabular formats. These bulk data is received from multiple channels such as email attachments, mobile devices, or through fax. The monopoly data capture medium may restrict the number of documents, so Kaptiche receives documents from multiple sources like MFPs, network scanners, and FTP.

This multi-channel data capture increases the possibility of capturing voluminous scanned documents quickly and thoroughly.

Reduce typing errors:

Financial bookkeeping that records purchases, receipts, sales, and payments should be wholly flawless and presentable for audits. But manually capturing the business-critical data will lead to inevitable typos. With Kaptiche, your data is extracted with intact accuracy. By using digital data capture with Kaptiche, the typing errors that delay your report preparation are entirely removed, and you can present your reports on time for internal as well as government regulators.

Protect your financial data:

The data capture serves no purpose if the extracted data is prone to unprotected exposure. But Kaptiche provides the retrieved data with the encrypted protection, and only users with access rights can read or edit the file. It is good news for those who are reluctant to entrust their financial records to the digital data capture. Since it has end-to-end encryption, no mid-way data interception can be done, and your data is safe.

Schedule the data capture:

In your accounting firm, you may want certain documents to be extracted no sooner than it is required. You may have a stack of invoices and equity fund records whose data you need at the end of the fiscal year for the financial forecasting. Kaptiche facilitates instance management, and scheduling options and you can preset the data capture for a specific time without human intervention. Therefore, although you have thousands of documents in a given time, you can prioritize the data extraction.

Would like to explore more about our product? Schedule a demo or Email us at marketing@kaptiche.com