Outsourced Document Processing Services: 7 Tips for Finding the Best

An organization’s success hinges in part on how efficiently and accurately it processes its documents. 

But the growing complexity of document workflows, combined with limited resources and mounting regulatory pressures, can make an information management pro’s job feel like an uphill battle.

Outsourced document processing services may offer a solution. 

By choosing the right outsourcing provider, organizations can streamline business processes, enhance data accuracy, and free up valuable staff time to focus on what truly matters: driving their success.

This article provides tips for finding the best outsourced document processing service.  

The Importance of Document Processing
Effective document processing is critical to the success of any organization. 

Accurately capturing, storing, and accessing documents supports informed decision-making, operational efficiency, and compliance with industry regulations.  Document processing also is vital to helping organizations remain competitive and meet ever-increasing customer expectations. 

Poor document workflows result in higher overhead, reduced staff productivity, lost or misfiled documents, strained customer and partner relationships, and compliance violations.  Left unchecked, document processing issues can impact an organization’s bottom line and damage its reputation.  

All this makes document processing a strategic priority for organizations of any size. 

Common Document Processing Challenges
Processing documents presents significant challenges to organizations.  

• High data volumes.  Organizations are inundated with growing amounts of physical and digital documents.  Managing this influx of documents requires robust systems and processes to ensure that mission-critical data is processed efficiently without delays or bottlenecks.
• Errors.  Errors are inevitable whenever manual intervention is involved.  Transposed or mis-keyed data and other inaccuracies can disrupt workflows and decision-making.  Even minor mistakes can have cascading effects, resulting in compliance violations or incorrect reporting.
• Compliance issues.  Staying compliant with data protection laws and industry-specific regulations requires meticulous attention to detail and robust data privacy and security processes.  Failure to comply can result in hefty fines, legal issues, and reputational damage.
• Resource constraints.  Limited staffing and budget constraints can significantly hamper an organization’s ability to handle document processing effectively, especially as its volumes grow.  Overburdened teams may struggle to meet deadlines and maintain accuracy.
• Inefficiency.  Manual processes and insufficient or outdated technology can bog down approvals and other processes and make it hard to manage complex or large-scale operations.  

These challenges highlight the need for a reliable and efficient document management solution.

What is Outsourced Document Processing and How Does it Work?
Outsourced document processing involves leveraging a third-party to manage the capture, organization, and storage of an organization’s documents.  These services typically include:

• Document collection.  Outsourced providers gather documents in various formats, whether physical or digital, and organize them for processing.  An outsourced provider may collect documents on behalf of an organization via bulk deliveries, physical document scanning, or through secure access to digital files from cloud-based systems or other repositories.
• Data capture and validation.  Outsourced providers use artificial intelligence (AI) with machine learning, optical character recognition (OCR), barcode recognition, and other technologies to extract data from documents.  The extracted data is validated against systems of record and other sources to ensure accuracy and completeness, reducing the risk of errors.
• Classification and indexing.  Outsourced providers categorize documents based on predefined criteria such as type, department, or content.  This indexing process ensures that documents are easily retrievable for future use, saving time and improving efficiency.
• Data delivery.  Processed data is securely transmitted to an organization’s legacy systems, such as an enterprise content management (ECM) platform or customer relationship management (CRM) application, for seamless integration into downstream workflows.
• Archival.  Documents are digitally stored in a centralized cloud-based archive.  Authorized users can instantly access archived content at any time, from any location, using any device.  The archives used by outsourced providers adhere to the highest security and compliance standards.  Some providers also automate long-term document retention and disposal.

By outsourcing these processes, organizations can improve operational efficiency, enhance data accuracy, and ensure secure, compliant document management while freeing up internal resources.

7 Tips for Finding the Best Outsourced Document Processing Provider
There are lots of outsourced document processing providers out there.  Selecting the wrong one can set an organization back.  Here are seven tips for selecting the right partner for your needs:

1. Evaluate expertise.  A provider’s experience in your specific industry is invaluable.  Providers who have dealt with similar challenges will understand the nuances of your requirements.  Look for a proven track record demonstrated through case studies or client references that showcase their ability to deliver results effectively and consistently.
2. Assess technology.  Advanced technology is the backbone of efficient document processing.  Ensure that prospective outsourcing providers leverage tools such as AI, machine learning, and OCR for maximum accuracy and efficiency.  Additionally, inquire about their ability to integrate seamlessly with your existing systems to avoid disruptions in your workflows.
3. Prioritize security.  Security is non-negotiable when handling sensitive data.  Verify that prospective providers adhere to data privacy standards such as General Data Protection Regulation (GDPR), Health Insurance Portability and Accountability Act (HIPAA), and International Organization for Standardization (ISO) 27001.  Also ensure that the systems used by outsourced providers include built-in controls such as user permissions, systematic workflows, data encryption, and audit logging in compliance with industry regulations.
4. Scalability.  An organization’s document processing needs may change over time.  Whether an organization is scaling up or dealing with seasonal fluctuations in volume, an outsourced provider must have the capacity to adapt quickly.  Cloud-based systems and best-in-class document scanners help ensure consistent performance and efficiency regardless of volume.
5. Configurability.  Every organization has unique business processes and goals.  Choose a provider that offers configurable solutions tailored to specific needs.  This ensures that their services align perfectly with your operational requirements and deliver maximum value.
6. Request references.  Don’t just take a provider’s word for it – ask for references.  Speaking with a provider’s existing clients can provide a clearer picture of their strengths, reliability, and ability to meet expectations.  References also help uncover potential areas of concern.
7. Consider the cost.  While cost shouldn’t be the sole deciding factor in selecting an outsourced document processing provider, it’s important to ensure that the provider’s pricing model aligns with your budget.  Be clear on what’s included in their pricing to avoid hidden fees or unexpected charges down the line that can undermine your return on investment.

By evaluating these factors, an organization can select a document processing partner that not only meets its immediate needs but also aligns with its long-term goals.  The right provider ensures smoother operations, greater efficiency, and a partnership that supports an organization’s success.

How ibml’s Outsourced Document Processing Services Help
ibml specializes in outsourced document processing, delivering tailored services that empower organizations to excel.  By leveraging cutting-edge technology and industry expertise, ibml addresses the unique needs of organizations, ensuring seamless operations and improved business outcomes.

• Data capture and validation.  ibml’s intelligent data capture technology accurately gathers and validates the information from any document, ensuring it is complete and accessible.  This minimizes errors and prevents downstream exceptions due to missing or incorrect data, significantly accelerating turnaround times and reducing administrative burdens.
• Workflow automation.  ibml automates repetitive tasks such as paper shuffling, eliminating inefficiencies and saving valuable staff time.  Automation ensures consistent execution of processes, reduces the risk of human error, and enhances in-house employee productivity.
• Advanced analytics.  ibml equips organizations with powerful analytics tools that provide actionable insights into their data.  By identifying trends, these analytics help organizations optimize their business processes and make better informed, data-driven decisions.
• Scalable solutions.  ibml’s outsourced document processing solutions can adapt to the needs of any organization.  These scalable services adjust seamlessly to changes in volume or regulatory requirements, ensuring uninterrupted efficiency and consistent performance.

By partnering with ibml, organizations gain access to an experienced team of document processing professionals and state-of-the-art technology.  This collaboration drives enhanced operational efficiency, frees up internal staff time, reduces costs, and ensures compliance with industry standards.

Conclusion
The challenges of high data volumes, onerous compliance requirements, and limited resources make it difficult for many organizations to manage their document processing internally.  Outsourcing document processing to a reliable provider like ibml allows organizations to overcome these obstacles while focusing on strategic priorities.  By choosing the right partner, organizations can optimize their business processes, enhance data accuracy, and position themselves for success.