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How ARDEM’s Expertise in Data Capture is Helping Clients.

By April 6, 2023March 26th, 2024No Comments
ARDEM Data Capture Outsourcing Blog

The IMARC Group has released its latest report on the Automatic Identification and Data Capture (AIDC) market. As per the report, the market size for AIDC reached US$ 49.8 billion in 2022. The report further predicts that the market will grow at a compound annual growth rate (CAGR) of 12.6% from 2023-2028 and is expected to reach US$ 106.5 billion by 2028.

The Significance of Data Capture

Let us begin by understanding the technology behind Data Capture and why the AIDC market is growing exponentially. Data capture is extracting information from documents and converting it into a computer-readable format. The process enables employees to store, organize, search, and retrieve documents efficiently.

The primary goal of data capture is to transform information from various sources into a computer-friendly format. This process allows organizations to gain insights into their operations and identify areas to enhance efficiency. Automating, extracting, categorizing, and validating relevant data through data capture can streamline business operations and enable faster and more effective information retrieval.

Data capture is a critical process that plays a vital role in enabling organizations to harness the power of data and improve their performance. Business Process Outsourcing companies such as ARDEM use the latest tools for data capture to enhance their client’s profitability and maintain crucial databases with complete efficiency.

ARDEM’s Data Extraction Process

Outsourcing companies have stepped in to help clients with various data extraction tools and processes to enhance efficiency and maintain accurate databases. ARDEM achieves completely accurate outcomes using top-notch data extraction techniques and tools. Let us look at some of the tools used by ARDEM for its data extraction process.

1. Data Extraction Process

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ARDEM’s tools help using software to extract and reuse information from scanned documents, camera images, and image-only PDFs.

2. RPA Data Extraction Process

ARDEM utilizes RPA to extract data from agreements entered into its portal by clients and enter them into data stores or other systems.

Using a parameterized output helps ARDEM customize the output generated from the data extraction process and tailor it according to specific client requirements. Additionally, the feedback loop serves the purpose of a quality check and primarily uses the intervention of human operators to manually enter the data that has been extracted incorrectly. The feedback can then be noted to improve the accuracy of future extractions.

The extracted data gets stored in a data store from which it can be retrieved later. A robotic data entry software directs the extracted data into other systems and applications.

ARDEM uses the best-in-class RPA tools to maximize process efficiency.

3. Machine Learning-Based Data Extraction Process

ARDEM’s machine learning-based data extraction process is a highly efficient tool that enables organizations to quickly and accurately extract key data from incoming documents and helps businesses use the relevant data to drive business insights and for efficient decision-making.

The process is divided primarily into three phases, i.e. pre-extraction, which comprises uploading and verifying the documents and creating a structured model for the data extraction process. Next is the extraction phase. ARDEM uses various technologies for powering the extraction process, such as OCR, Natural Language Processing (NLP) and machine/deep learning. Finally, the extracted data undergoes verification checks to ensure accuracy in the post-extraction phase. Any errors or inconsistencies can be flagged for review and correction.

The extracted data can be integrated with other systems such as ERP, CRM and SAP legacy systems. This is typically done through APIs that allow for the seamless integration of data across different systems. RPA has the capability to automate the entire data extraction process right from pre-extraction to post-extraction stage. The extracted and processed data is fed into downstream applications such as reporting and analytics tools.

The ARDEM Advantage

ARDEM maintains its legacy of helping clients design immaculate databases, gain insights into current trends and make well-informed, timely decisions. Below are some key advantages of choosing ARDEM as your outsourcing partner for data extraction services. 

  • Complete control over the inputs and outputs – ARDEM ensures its clients have full control over the inputs and outputs of the data extraction process. Firms can specifically ask for their requirements, specifics on the data to be extracted and how they want it formatted.  
  • 0% Rejection of Input Images – ARDEM ensures data is extracted accurately through images without manual data entry, making the process faster and more efficient.  
  • Easy customization and process changeability – ARDEM offers its clients a smooth journey through their data extraction tasks providing a customized solution to meet diverse business needs. Clients can add new data sources or change the extraction rules as required without having to rewrite the entire process.  
  • Output conversion to any format – The data extraction process at ARDEM can yield results in a wide range of formats, including Excel, CSV, JSON and plain text. This helps clients easily integrate the extracted data with other tools and systems.  
  • 100% accuracy – ARDEM’s data extraction process is designed to be highly accurate and reliable. Clients can rely on the output data to be correct and consistent.  
  • On-time delivery – ARDEM ensures that, just like any other task, its data extraction process runs on schedule and that the extracted data is delivered on time without any delays.

Conclusion

ARDEM leverages cutting-edge technology to optimize its operations and deliver exceptional client outcomes. Accurate data comprises one of the core elements of running a business successfully. ARDEM assists its clients in creating highly precise databases by utilizing various data capture techniques. By employing these advanced tools, the data extraction process becomes much more reliable, resulting in efficient databases and improved decision-making capabilities.

ARDEM provides Business Process Outsourcing and Business Process Automation Services to established companies to help them improve operational Efficiency and Reduce Costs.  For more information please reach out to us  at pricing@ardem.com or call us at 908-359-2600.