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How Automated Inventory Systems Improve Inventory Management

How Automated Inventory Systems Improve Inventory Management As a sub-element of supply chain management, inventory management has been around for more than 20 years. Here, we explore the current state of inventory management and delve into the possibilities offered by automation solutions such as Xtracta’s OCR & AI data capture technology. Learn about the importance of automated inventory systems for supply and demand, the importance of data for company resilience, and more. Why Is Inventory Management for Supply and Demand So Important? Inventory management is fundamental for every company dealing with products, but why is it so important? As every business that survived…
Xtracta Admin
2022-12-23
Blog

Customs Automation & IDP for the Customs Brokerage Industry

Customs Automation & IDP for the Customs Brokerage Industry Manual document processing costs businesses a fortune every year. This cost is particularly significant for companies within the customs brokerage industry as they deal with high volumes of documents daily. From bills of lading and manifests to certificates, commercial invoices, and more, customs brokers and freight forwarders handle countless documents and forms in various templates, all of which must be sorted, verified, extracted, and processed. Below, we explore why customs automation and intelligent document processing (IDP) are essential for businesses large and small within the industry. Discover how a digital document extraction solution like Xtracta…
Xtracta Admin
2022-12-23
Blog

The Role of Data Capture in an ERP Implementation Plan

Enterprise resource planning (ERP) is an essential part of every business. We explore the role of data capture in an ERP implementation plan. Read on to learn why digital document extraction and data capture software are vital to successfully integrating your ERP implementation. But First, What Is ERP? Enterprise resource planning (ERP) is an all-encompassing business management system. An ERP application gathers inputs from various departments—from manufacturing and supply chain management to accounting, sales, marketing, human resources, etc.—to mediate business processes, offer insights, provide reporting, manage internal controls, and much more. Larger companies often have ERPs that handle all parts…
Xtracta Admin
2022-10-19
Blog

Ways to Increase Data Security with Xtracta

Data security should be a priority for all companies. Here, we explore practical ways businesses can ensure their data is secure. Read on to learn how security and crime have changed over time and how to increase your data security in today’s data-centred landscape. We review the importance of secure passwords, multifactor authentication, anti-malware, and more. We also discuss the security measures we have in place that clients can rely on when using our data extraction OCR software to streamline their operations. Crime These Days is Largely Committed Online The need for security has been around as long as thieves…
Xtracta Admin
2022-10-19
Blog

How We’re Bridging the Data Gaps and Disparity in Business

"I’m not sure we can implement this... the information required is complicated to access, stored in different systems, and our teams often need to request paper documents from other teams..." This is one of the most concerning answers we hear when talking to decision-makers about integrating Xtracta into their company software. Unfortunately, this situation is not uncommon. The lack of accessibility to relevant documents within organisations and the persistence of analog data (printed, hard copy documents) are key reasons why many businesses don’t have transparency around their data. Furthermore, most organisations have difficulty accessing data trapped in physical and unstructured…
Xtracta Admin
2022-09-21
Blog

The Impact of Big Data in Banking

The financial services sector is one of the most data-intensive sectors in the global economy. Here, we discuss the impact of big data in banking, including personal banking, business banking, and investment banking. Read on to learn the role of big data in each of these areas and how Xtracta’s automatic data extraction technology and OCR software enable financial companies to best use big data to their advantage. What Does the Term ‘Banking’ Encompass? The term ‘banking’ is a term that encompasses a wide range of areas. Banking is very data dependent. For example, personal credit (credit cards, home loans,…
Xtracta Admin
2022-09-16

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