Everyone wants the same thing: To work less and profit more. But not everybody knows how to achieve those things. At Astera, we’re pretty sure we’ve cracked the code, and you might be surprised to learn that it starts with how you process your documents.
If you work with contracts, purchase orders, enrollment forms, invoices, tax documents, or banking forms, you’re no stranger to document processing. You also know how time consuming it can be to prepare these documents and forms, capture the data you need, and record it in a way that is efficient and gives you the insights you need. We see this as a massive opportunity to grow your company. By upgrading to intelligent document processing (IDP), you save time and money while securing relevant, accurate data.
The Tangible Results of IDP
Cost Savings
Perhaps the biggest argument for the switch to IDP is the cost savings. Maintaining legacy systems can put a burden on your company wallet, and in 2024 we saw a lot of companies struggling with tech debt. 51% of companies are dedicating more than a quarter of their IT budgets to alleviating technical debt. When you make the switch to an intelligent solution, you free yourself from having to maintain these costs and increase debt.
Another major cost of document processing is the cost of fixing errors caused by human intervention. Manual processes take more time and have more errors. These errors take time to fix – it all adds up. In a market where time is money, it’s time to choose a solution that eliminates human error.
Time Savings and Decision Making
IDP works at the speed of innovation, meaning that you can process documents the second they come in instead of putting them through a time-intensive funnel. This means that you have real-time data that gives you an accurate and updated 360-degree view of your customers and clients. This kind of accuracy is essential for decision making.
Think about doing math by hand versus using a calculator. Math done on the calculator is more likely to be accurate. Similarly, intelligently extracted data is more likely to be accurate than manually extracted data. Even if you’re already using automation, IDP takes that a step further by combining the speed and accuracy of automation with contextual understanding previously only available by human processing. This is a huge advancement that is changing the way we work, improving efficiency by up to 40%.
IDP Results for Your Customers and Clients
Although we’re excited about the results that IDP can get for your company, we know that your organization’s mission is what matters most. Don’t worry – intelligent solutions benefit your customers and clients just as much as they benefit you. It’s the ultimate win win. Here are just a few results your customers can expect:
Faster Approval Times
If you have clients who are filing forms and applications, they are often waiting on decisions and approvals. This wait time can be inconvenient and stressful, negatively impacting their experience with your organization. Using AI makes these decisions more readily available, giving your clients the answers they need when they need them. This way, everyone has a positive experience with your company, and you get to preserve your reputation.
Better Products and Services
With less resources dedicated to tedious tasks like document processing, your team has more time and resources to focus on improving your products and services. Today’s market is competitive so every single innovation counts. IDP gives you the time and energy to prioritize that innovation.
Higher Customer Retention
A loyal customer-base essential. When the process is easy, the results are accurate, and the services and products are top-tier, customers cannot resist your organization. With IDP you can give your customers and clients the treatment they deserve, and in return they’ll stick around.
Ready to Make the Switch?
Many companies know that the switch to IDP is the move, but the transition might seem intimidating. The transition to IDP is simpler than you think. At Astera, we’ve mastered the art of IDP integration and can confidently say we have you covered. A simple investment in your document processing means that soon you will be working less and profiting more.
Are you ready for the switch? Click here to talk to a solutions expert. They’ll review your use case with you and show you how IDP with Astera works. When you make the decision to switch, you won’t have to worry about lengthy or complicated onboarding. Our solution will be ready to go, and we’ll be on standby if you need us!
Authors:
- Brooke Bethel