Dox and Box

  Data entry is an integral and invaluable process of document processing. Traditional means of data entry and document processing involves manual reading and keying of all documents like invoices, orders, or any other documents by the staff members.  Earlier, when the paperwork was less, manual entries made sense because it was an achievable goal. However, with the pile-up of paperwork and upcoming data-driven companies, manual processing of data is no longer a practical solution. Even though manual data entry is not the best technique, it is still a fundamental part of many businesses and organizations despite the flaws attached to it.  Some of the major pitfalls of manual data entry are - 1.  Predisposed to human error - No matter how great of an employee you are, you are always prone to make mistakes. This happens, even more, when they are bored or stressed, which can be a direct manifestation of the repetitive work of data entry.  One tiny mistake made by t...

  As most organizations and corporations make the transition from paper to digital life, the significance of data is increasing speedily. For the same data to be useful it has to be converted into a suitable form for analysis and the first step towards it is Automated Data Extraction.  What is data extraction? It is the process of retrieving data from various sources for storage, transformation, and analysis. The sources from where the data is collected can be structured or unstructured, however, data extraction helps transform all of it into the structured form.  Data in structured form provides a lot of meaningful insights into any company or organization. Data extraction also helps to store data in a centralized form for further analysis and record keeping.  This process sets up the pipeline for success as it is the most time-consuming process, especially when carried out manually. Therefore, these days the use of data extraction automation software is made to hel...

  Document retention is an important part of owning, growing, and working a business. Businesses generate and require enormous amounts of data and thus maintaining them becomes even more essential. This can be a cumbersome process and a nearly impossible task, especially when maintaining physical records of these many documents.  Keeping records unprotected can lead to exposing confidential information to the wrong people and also puts the vital documents at risk of damage due to any natural calamity. For such cases, offsite records storage is a perfect choice.  What is offsite data storage?  Offsite data storage   refers to a facility located away from the organization's quarters and offices and is set up for the sole purpose of creating data redundancy and recovery.  Large companies are well resourced to have a dedicated site for this purpose and have full control over their data security. However, third-party agencies are the solution to manage and secur...

  Data extraction has become a vital process for all industries worldwide as it contributes to their productivity and growth. It involves the conversion of unstructured or semi-structured data into structured data because structured data can yield meaningful insights into the business.  Even though digitization is taking over, there is still a discrepancy amongst people in choosing technology over physical and manual methods. A lot of legacy and valuable information still exists on paper and if digitized it will have tremendous value. However, manual processing and extraction being tiresome and slow processes are best avoided.  We have all entered the digital era, the era of automated information and automated data extraction. With the advent of   OCR , AI, ML, and RPA, the large workforce hired to do these operational tasks can now focus on more productive and core tasks. These technologies can significantly change the way enterprises and corporations work and strea...

  Every sale and transaction that a business deals with daily can transform the business’s future. This makes the development of a procurement strategy a must to have better business and purchasing processes.  What is procurement?  Procurement is the obtaining of the best products and services at the best possible price in a series of steps that are important for any organization or business. Traditional procurement is identified by manual events like calling the vendors and buyers, approvals, writing RFX’s, negotiations, etc. that include repetitive and small tasks. However, these processes are not very efficient or accurate and thus require many follow-ups.   Challenges in procurement and their solutions- With an understanding of the best features, policies, and benefits while abiding by social and corporate responsibilities, one needs to understand the prevalent challenges in procurement.  Procurement processes are riddled with challenges and difficultie...

  In this age, information is power and the more you know the better it is for you. These days enterprises and organizations store, receive and produce huge amounts of data every second. They have to stay up to date and up to speed when it comes to data extraction and its storage.  Failure of accurate data extraction may cause incorrect analysis and might also have future critical implications. There are two ways, manual and automated for the process of data entry and data extraction. Businesses are still divided between which method is appropriate. To make this easier here is a compilation of all that you need to know about both the processes, Manual data entry It is an age-old practice that involves the process of collecting and consolidating data from various sources either on paper or entering it manually on the computer.  It provides a lot of employment opportunities that people are in dire need of these days. It also is an efficient process when it comes to processi...

  Most of the documents these days are digitally born and contain rich semantic information that goes beyond the images in the documents. With the combination of metadata, tags, display order list, etc, a better understanding of the document can be obtained with higher accuracy. What is document annotation? Document annotation is the process of identifying fields and the values correlated with them in a document and then extracting pertinent information using set criteria and guidelines. In simple language, data annotation is the step before data extraction as information cannot be extracted unless it is found and analyzed first. It involves the labeling, organizing, and classifying of data that makes it usable and approachable for future analysis and also delivers significant insights. Images, audios, video frames, and text data are all labeled and added with metadata in the form of tags that makes it easier to understand the input and then act accordingly. Annotation of data make...