Document management has been providing a competitive edge for thousands of businesses since the technology emerged decades ago. Document management systems (DMS) offer many advantages to businesses of all sizes, including:
- The transformation from paper documents to digital format
- Quick access to storage and retrieval of business documents
- Less need for storage space
- Search capabilities for stored information
- Document sharing and collaboration
- Improved security compared to paper documents
- Process optimization through workflow and automation
As document management software has evolved, developers have incorporated new technologies:
- Multifunction printers that can scan, print, copy, and fax
- Artificial intelligence that provides increased functionality for DMS
What Is Artificial Intelligence?
Artificial intelligence incorporates sophisticated algorithms to analyze patterns and make decisions based on content. Using machine learning, artificial intelligence (AI) simulates human observation and logic to recognize patterns and make decisions like individuals would – but at the speed of computer logic.
Internet users may not realize it, but artificial intelligence is a significant part of how search engines find the content that is presented from search queries in today’s web browsers. Based on prior requests and actions taken by users, search engines powered by AI present web pages or articles that will produce the most relevant information.
As more searches are conducted, and links selected from those listed, AI and the search engines continue to learn and become more productive.
Voice recognition systems such as Siri and Alexa utilize AI to understand questions or commands and make appropriate responses.
Based on historical data, artificial intelligence becomes increasingly able to predict trends, make more accurate decisions, and recognize changes in data or processes.
How Does Artificial Intelligence Improve Document Management?
Artificial intelligence can be a valuable asset to businesses, where thousands of documents are produced daily including purchase orders, invoices, healthcare records, and much more.
Early document management systems enabled document capture and forwarding to individuals, but still left the job of classifying the document type and appropriate routing to humans. Then came AI, allowing software to recognize templates and document content to make decisions.
With business rules incorporated in modern document management systems, artificial intelligence can recognize the difference between a purchase order and an invoice, routing them to the proper resources for handling or placing them in the appropriate queue for additional processing.
Workflow is an essential feature of document management that contributes to business process optimization and improved employee productivity. AI is a primary enabler of the workflow. By recognizing the class of document and other content, the workflow can route the document to a workgroup, authorized approvers, or a distribution list – all securely and without manual intervention.
Lost or misplaced documents can cause plenty of problems for any business:
- Important documentation unavailable for reference
- Poor customer service from lost orders or correspondence
- Cash flow impact from delays in distributing invoices
- Security issues – unauthorized access to confidential information
- Regulatory compliance – improper storage or retention of controlled documents
With AI-enabled document management, storage, retrieval, workflow, and collaboration provide new functionality and process improvements for all types and sizes of businesses.
Without robust document management systems, many companies would collapse under the weight of the continually growing volume of documents generated through eCommerce, healthcare document retention requirements, and other business processes.
DMS and AI fill the need for:
Reliability – digital documents can be easily distributed, stored, cataloged, and backed up for retention.
Analysis – electronic documents are easily searched for rapid data analysis for marketing, product development, sales trends, and much more.
Security – with AI technology, document content can instantly identify personally identifiable information (PII) that must be protected and restricted from unauthorized viewing, editing, or distribution.
Productivity – eliminate manual review of individual documents by utilizing AI techniques to scan, classify, and route documents accurately, saving time and money in many business departments.
Future Enhancements from Artificial Intelligence in DMS
Although artificial intelligence has already enhanced the power of document management systems, developers and scientists predict that only the surface of future potential has been realized. There is much more to come.
Optical Character Recognition (OCR) – advancements will power more accurate classification of documents for reliable processing, speeding business operations, and increasing productivity.
Data Analysis – extracting document details faster and scanning for content details increases business efficiency by recognizing not only the type of document but also specific information that routes the document through the proper process without manual handling.
Security – AI can take the lead in identifying PII and other confidential documents, ensuring that they are stored securely. This removes the human element in making such decisions, offering a better level of security and compliance.
Future enhancements to document management systems related to artificial intelligence are guaranteed, thanks to the imagination of software developers.
Combining Document Management with Artificial Intelligence
Doing Better Business has been improving business processes through the combined power of document management and artificial intelligence for decades. Implementing this technology offers many benefits to our clients:
- Improved productivity – eliminate manual processes with workflow and AI decisions
- Increased document security – digital storage and access rules
- Regulatory compliance – integrated retention and authorization policies
- Process optimization – automated workflow for storage and distribution
Contact Doing Better Business today to discover how our experience in document management and artificial intelligence can streamline your business processes.