Document Automation: Definition, Uses, & Benefits
For decades, many organizations and businesses have relied upon professionals to research and compose transactional documents meticulously. As we all know, complex, data-driven documents can take a lot of time, research, and energy to create, but thankfully the days of meticulously creating documents by hand are long gone. Technological advancements continue to transform many aspects of business, including document preparation.
If you or your employees spend countless hours manually preparing presentations, contracts, custom quotes, and other business documents, now may be the time to learn about document automation. In this guide, we answer commonly asked questions like “what is document automation” and “how does document automation work.” We also describe the uses and benefits of document automation.
What is document automation?
Document automation uses software solutions to quickly create transactional documents based on a set of system, workflow, and enterprise rules. The software guidelines for document automation are derived from intelligent analysis of various sources and templates. Document automation is designed to work quickly and accurately at an enterprise scale.
How does document automation work?
When considering a new enterprise solution, it is crucial to understand the operating principles. Let’s take a closer look at the processes behind document automation.
Document automation works by first gathering text and data from many different sources. Next, the information is intelligently analyzed and organized. Finally, the appropriate data is sourced and inserted into document templates. The templates include predefined areas for content, such as simple text blocks, images, tables, and graphs. Document automation executes this process quickly, accurately, and repeatedly.
Uses for Document Automation
Document automation offers several useful applications for businesses and organizations. Here are some of the features offered in many document automation solutions:
Data Integration
Document automation solutions integrate third-party data sources to extract important information required for document production. Without integration, it would be nearly impossible to manually source, export, edit, and format the massive volumes of data required for document creation with any degree of reliability or accuracy. Integration ensures that professionals can effortlessly create quality documents filled with valuable insights.
Standardized and Up-to-Date Templates
Document automation solutions allow users to create templates and duplicate, reuse, and edit the templates as needed. When an administrator makes a change, the updates can be automatically synced across the platform. With standardized and updated templates, professionals can trust that their assets are adherent to current company standards.
Maintain Compliance
Many organizations and businesses must adhere to strict governance and quality assurance standards. Document automation solutions streamline compliance initiatives by improving companies' visibility and control over their documents. Templates for documents such as non-disclosure agreements, service agreements, and other contracts can include the required legal fine print. Controls can highlight any potential deviations from the standards. Additionally, document automation solutions can facilitate e-signature captures, securely send documents, and reduce the length of the document lifecycle.
Intelligent Workflows
Document automation solutions allow businesses to create intelligent workflows that guide professionals through creating documents. The workflows facilitate efficient assembly and dissemination of transactional documents so that professionals can focus on high-value tasks that require human expertise and a personal touch. For example, intelligent proposal document workflows allow sales representatives to quickly generate quotes and focus entirely on the pitch and client relationship.
5 Benefits of Document Automation
Here are some of the benefits that enterprises can gain from adopting document automation solutions:
1. Gain a Competitive Edge
Document automation is a simple solution that can have a big impact. Some businesses and organizations have yet to adopt document automation, and those with a document automation process have a distinct competitive advantage.
2. Save Time and Resources
With document automation, enterprises can efficiently manage time and resources. While the software solution expeditiously and accurately handles document creation, team members can dedicate their energy and expertise to valuable tasks that impact customer relationships and drive business growth.
3. Maintain Branding and Content Consistency
Businesses need to ensure that all collateral is properly branded and aligned with the company goals, but this can be challenging, especially when dealing with large volumes of documents. Document automation ensures that all materials are consistent, whether it is a quote, contract, presentation, or another asset.
4. Improve the Customer Experience
Document automation solutions allow businesses to enhance the customer experience by leveraging rich data insights to generate personalized transactional documents. For example, with document automation, sales representatives can confidently express the value and terms of their offer, improve buyer engagement, and streamline the buying journey.
5. Enhance Digital Content Sharing
With document automation, businesses can instantly and securely share content with stakeholders and clients. Professionals can draw up transactional documents and capture signatures on the spot while maintaining compliance with applicable regulatory requirements.
Since 1992, FabSoft has been an industry leader in document capture solutions, helping companies of all sizes greatly reduce their operating costs while maximizing business productivity. Our document capture solutions have evolved over the years to suit the growing needs of any organization. For this reason, there is no printing or scanning challenge too large or too complicated for our document capture software. With over 150,000 successful installations, FabSoft solutions have been implemented into the daily operations of many prominent businesses all over the world.
For help with document automation, Book a Demo with Fabsoft today!