In a digital era, where conversations are frequently dominated by cutting-edge technologies, data capture is the foundation for the successful use of artificial intelligence, machine learning, and blockchain by companies. Despite being a fundamental element, it is often forgotten amidst the buzz caused by innovative technologies in day-to-day operations.
Imagine building a great castle without a solid foundation. Very risky, right? In the same way, in the realm of digital transformation and information governance, effective data capture serves as a cornerstone upon which successful strategies are built.
From improving data accessibility and security to enabling smarter decision-making, data capture is vital for business success. However, evolving technologies and the ever-present human element create unique challenges that must be considered when building or improving data capture processes in a company.
In a world where data is the new oil, data capture and effective information management are no longer just a good practice, they are a strategic imperative. Without a capture strategy in place, organizations risk being buried under mountains of unstructured data and become unable to leverage its transformative potential.
Data capture is at the start of the information lifecycle and serves as the foundation for all subsequent stages. This is why solid data capture processes and procedures are essential to achieve:
Effective information capture streamlines processes, reducing the need for manual data entry and minimizing errors. This leads to faster processing times and greater productivity.
Data capture, when done properly, ensures that all necessary information is recorded and stored in accordance with legal and industry standards, avoiding potential penalties and legal issues.
The retrieval and access of data are facilitated by systematic information capture. This is vital for answering queries, conducting audits, and for daily operations.
With accurate and timely data capture, businesses can make more informed decisions. Access to reliable information contributes to trend analysis, forecasting, and strategic planning.
Proper information capture should include measures to protect confidential data from unauthorized access and breaches. This is crucial for ensuring confidentiality and protecting organizational information.
As organizations grow, the volume of data increases as well. Efficient data capture processes ensure that the company can handle this growth without compromising the accuracy or effectiveness of data analysis.
In the webinar “Elevating Information Management with Effective Capture”, a panel of experienced professionals in information management and records discussed the challenges faced in data capture. Below, we list some of the main challenges discussed by Laurie Carpenter, Director at Redgrave LLP, Schana Penzone, Senior Manager of Records and Information at Cisco Systems, and Cadis Stuart-Hodges, Global Records Manager at West Rock.
Version control presents significant challenges in managing multiple copies of documents stored in different locations. Establishing a single system of record and designating an official record owner are fundamental steps, but gaining user buy-in can be more difficult as people are accustomed to maintaining their own copies.
Additionally, it is essential to define a clear version control philosophy. For example, in platforms like Microsoft Online, small changes can create numerous unnecessary versions, complicating document management. Therefore, it is crucial to decide whether existing versions should be replaced or new ones created, and to train users on the adopted approach.
To overcome the challenges of version control, it is recommended to involve stakeholders and conduct whiteboard sessions to develop effective file naming conventions and structures that everyone can support.
The COVID-19 pandemic forced companies to adopt new ways of working but also fueled the creation of silos as users preferred different tools and storage systems. To mitigate this, it is critical to establish clear processes and guidelines for information capture, version control, and document management, as well as to gain employee buy-in.
Schana Penzone, Senior Manager of Records and Information at Cisco Systems, recommends forward-thinking when establishing policies related to data capture. “It is really important to be able to think ahead in terms of how we can use this information or what we may need to retain for a period of time and ultimately discard,” she commented. Proper planning today helps improve decisions tomorrow.
After being asked about “the necessary naming conventions with AI”, webinar participants recognized the value of artificial intelligence in document management, particularly in search and retrieval. However, they emphasized the importance of having a naming convention and taxonomy in place for effective tagging and searching. Simply put, information needs to be tagged so that AI can find it.
Note: The compliance and governance risks associated with AI must also be considered, requiring the adoption of well-defined AI governance policies.
In summary, capturing data and storing it properly is more than just digitizing paper copies. It involves detailed process mapping, continuous collaboration, strong use of technology, and adherence to policies. These elements combine to generate the best results and positively impact the critical information journey of businesses — from inception to archive.
Whether you are an experienced professional looking to optimize existing processes or a novice eager to navigate the complexities of information management, the e-book “Effective Capture: The Foundation of Information Governance and Digital Transformation” can help navigate a path prepared for success. Take advantage and talk to our consultants to learn about our data capture and document digitization solutions.
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