DocuNECT’s functionality make it an ideal solution as a Transactional Content Management (TCM) solution for compliant documents. TCM has often been associated with legacy imaging systems, which created a perception that the functionality is no longer required, which is far from the truth. Transactional systems manage documents that have resulted from a transaction and are more data driven than collaborative systems.
Examples of Transactional Documents
The following list determines the different types of transactional documents:
- Purchases Orders and Invoices
- Loan Documents
- Accounts Holder or Member Documents
- Statements
- Corporate Reports
- Case Files (Medical Records, Housing Authority Documents, Insurance Claims etc.)
Characteristics of a Transactional Document Solution
Transactional documents can be high-volume…often in the millions of documents, so the taxonomy to classify these documents needs to be robust to be able to find the proverbial “needle in the haystack”. DocuNECT intelligent document capture solution can scale to ingest large quantities
Extracting the data to live within a database allows more powerful queries and data analysis. Transactional systems typically require more upfront planning and thought to make sure these taxonomies are correct and will stand the test of time. By comparison collaborative systems can be easier to setup which is why cloud-based solutions tend towards this functionality to reduce the initial onboarding to quickly capture the customer base.
The Secret is in Intelligent Capture
When designing a transactional taxonomy to make the documents accessible, the inclination is to just add more data associated with the documents. You must also ask the question…how do you assign the data to the documents?
This is where DocuNECT’s intelligent capture solutions comes to the forefront. The more intelligence and automation you have around extracting and assigning data values the more efficient the process…and the more different types of documents the business is likely to process and store.
The By Product of a Transactional System
If we view a document as a vehicle to receive and distribute data between departments and organizations, then extracting this data becomes a valuable input into any data analytics and/or Artificial Intelligence (AI) platform.
Benefits
- Digital Capture. Capture digital documents and data using DocuNECT’s powerful intelligent capture.
- Secure Repository: DocuNECT’s powerful taxonomy and data management turns a document archive into a powerful document database.
- Increase Compliance: DocuNECT’s powerful audit history records every event through the entire lifecycle, including where and how the data was extracted, which helps to maintain compliance.
- Business Process Automation: Map different use cases within the system to manage the document throughout the entire lifecycle.
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