Making The Move From Paper To Digital With Accurascan - Accurascan

20 Apr 2018

With every passing day, more and more organizations across industries are waking up to the advantages of digital data over paper documentation. The former enables companies to save up on time, space and money. Digitized data lasts longer than hard copies and can be retrieved much faster. They can be easily shared with everybody and can be readily edited by multiple users. In short, they have multiple advantages over paper documents.

Accurascan is a mobile app that enables users to quickly scan ID cards, passports, driving licenses etc. with the help of the camera on a mobile device. The digital copies so created can be then stored on the application’s cloud or customized using the company’s SDKs or APIs. These digital copies can also be edited.

The technology works offline or without an internet connection as well. The scanned data can be transferred to the cloud using end to end encryption that provides security and protection.

Let us discuss in some details how digitization and document scanning apps such as Accurascan can help various industries.

Construction

There is enormous room for digitization in the construction industry. It is connected in some way or other to several other industries and is a very paper-intensive industry itself. In order to survive in a corporate environment where every other industry is going paperless, the construction industry ought to follow suit. In fact, the opportunities for business growth through document scanning technology are so substantial that any form of initial investment made towards the same will be redeemed many times over within a very short period of time.

Some of the ways in which document scanning apps can help the construction industry are –

• Subcontractor documents – construction companies can consolidate all relevant information related to their subcontractors and their employees and store the information for ready access.
• Invoices – using document scanning technology, hard copy invoices can be quickly uploaded into accounting software where they can be readily processed.
• Project Financial Plan – document scanning technology enables us to extract data from digital space as well. This means that we can easily scan figures from spreadsheets and use them to generate plans and reports.

Banking and Finance Industry

Document scanning technology can help both commercial as well as consumer banking. It can streamline reporting and compliance processes, account opening, payments, trade finance, loan origination etc. It can also help unify back and front offices, stay on top of regulations and achieve faster go-to-market. Some of these apps such as accurascan can be integrated with third-party applications as well.

Some of the ways apps such as Accurascan can help the Finance industry are –

• Account opening – deliver a delightful and smooth account opening experience to new customers
• Loan/lending origination – optimize lending processes for faster disbursement and enhanced efficiency
• Trade Finance – Ensures centralized, faster and accurate trade finance processes
• Reporting and Compliance – comply with dynamic and complex regulations easily and faster
• Payments – reduce costs and mitigate risks with secure and timely payments

Healthcare Industry

Digitisation in the healthcare industry has led to efficient data management and mitigating risks on a daily basis. With an ever-increasing number of patients, data management in the healthcare vertical is a challenging task. The amount of paperwork required for every patient is daunting and paper scanning technology greatly eases the pressure and streamlines the process.

Some of the ways in which document scanning apps have helped the healthcare industry are –

• Patient records – with the help of scanning technology physical records of patients’ history and test results can be rapidly uploaded into the system for prompt diagnosis and treatment.
• Digital Archive – scanning paper documents and uploading them to a cloud for storage save up on a lot of space and consequently money. Digital documents can also be retrieved with a lot of ease which saves a lot of time.
• Invoices – document scanning technology can readily transfer data from physical invoices onto a digital format which can be promptly shared with the accounts division for quick processing.

Aforementioned are 3 industries where document scanning technology is already causing major business breakthroughs that are leading to substantial revenue growth and more customers. Whether it is an ID Card Reader, a Passport or Driving License scanner, this technology is sure to lead to much more business innovation across a plethora of industries in the near future.