Learn how iSeries document scanning, capture, distribution and workflow can save money, increase document security, and improve organization efficiency. Learn more at www.informdecisions.com

Tuesday, January 3, 2017

With the tax season rapidly approaching, millions of tax payers are scrambling to insure they have their documentation ready to hand over to their tax accountants. Each individual tax payer has an abundance of documents necessary to properly file their taxes and get the best return. You can therefore imagine what it is like to be responsible for hundreds or thousands of individual and business tax portfolios. 

The reality for tax preparation firms and CPA’s is that during tax season, which lasts from January to April each year (not to mention the extension period for those who don't file on time), mountains of individual’s and business’ tax documents need handling. This can turn out to be cumbersome and tedious process if all of these files are only available in paper form. Paper records storage was a necessity for accountants in the ‘dark ages’ , but such a method is simply not efficient in the digital age. 

Simply creating digital folders to store clients' scanned documents might eliminate the need to spend money on paper storage, but it doesn't streamline your processes or provide for file standardization and searchability. Without a records management solution, scanning and storing client files digitally is basically replacing the paper file mess with a digital one.

The best solution is a document management strategy that captures your clients' documents, extracts important data to enhance searchability, and routes the documents to an ECM system that allows for organized document storage and easy retrieval via search.

Below are some of iCapture’s features that will simplify document management for CPAs:

iCapture transforms scanned images into readable text.Identify and classify documents: your business can save time and reduce the manual presorting of documents through automated document identification.

iCapture connects to your existing internal data base which allows you to use data you already have.

Also, with classification feature, no matter what types and sizes of documents you’re bound to receive from clients, iCapture can scan, sort and capture your documents at breakneck speed.  iCapture will recognize the configuration to automatically classify each document. If a document type is new and has not been configured yet, iCapture's Accelerated Classification Engine (ACE) allows for on-the-fly configuration during the workflow, either by building rules with point-and-click/dropdown lists or automatic configuration based on existing information in your connected databases.

Extracting data from documents is instrumental in increasing the search functionality of documents once they are exported to your repository. Full page OCR to make the document searchable is important, but it doesn't go far enough in helping you find documents quickly. iCapture provides several features to automate this process, including  Advanced Data Extraction and Table Extraction.

All client files can be organized for optimal search by creating a standard naming structure. iCapture can automatically name files based on your naming conventions.

iCapture interfaces with more than 60 different ECM systems or other information systems such as SharePoint . This could help you leverage the collaboration, process, content management abilities, and also enhance the flexibility when choosing the best solution that meets your requirements.

If you’re ready to take control of your tax preparation, contact the inFORM Decisions team today and eliminate stress in tax season ahead with a document capture system!

Our website: http://www.informdecisions.com/ - Phone numbers: (949) 709-5838 / (800) 858-5544

​Tags: Ocr sharepointK2 bpm, Digital mailroom automation, document capture software, K2 workflow 

1 comment:

  1. I like the fact that iCapture will allow me to connect to my own internal database.

    Dennis Fletcher


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