NOVATION releases cloud-based solution to maximise value of data
NOVATION has announced the release of DataVio, its cloud-based solution for helping businesses automate the processing and extraction of valuable data from documents.
The launch of DataVio is part of NOVATION's push towards offering more digital products and private cloud solutions to clients, while building on its heritage in secure data handling, the company states.
DataVio uses Optical Character Recognition (OCR) technology, which enables data to be extracted from printed or written text from a scanned document or image. The OCR converts data into a machine-readable form suitable for subsequent processing.
Sin Wai Kin, general manager at Novation Solutions says, “Data is an inextricable part of a company's lifeblood. Instead of spending valuable resources for manual processing, DataVio helps you manage your time and maximise your efficiency in doing business by leveraging data.”
Instead of spending valuable time and effort capturing and inputting data manually, ensuring that the data entered is correct, and going back to amend incorrect data, DataVio takes care of this for users so teams can dedicate efforts to more important aspects of the business.
DataVio accomplishes automated data processing in three steps: data extraction, intelligent data processing and output data in convenient formats.
Data extraction entails leveraging OCR technology and algorithms to obtain data from formats such as Word, PDFs and even images. Users need only upload business documents into the DataVio web application from your browser. Intelligent data processing then allows users to customise rules to improve processing: DataVio's intuitive user interface/user experience (UI/UX) helps define data fields for this purpose.
Finally, DataVio helps convert extracted data into formats that fit different workflows. This solution imports data output files into business applications (such as CRM) or files them for recording or compliance purposes.
Sin says, "Data processing is necessary in every sector. DataVio provides digital solutions to real-world scenarios, where human error in data extraction and processing can occur."
According to NOVATION, DataVio can be useful in various industries. In banking and financial services, DataVio can reduce human error on the part of company staff, with regards to client documents and application forms.
In the healthcare and medical industry, DataVio is a highly practical tool to have. Apart from preventing mistakes in data extraction, this solution helps prevent medical staff getting bogged down by paperwork instead of focusing on patient care.
DataVio can also be applied to higher education and learning institutions by digitising student records and applications, as payment collections will be facilitated more easily.
In the legal and compliance industry, DataVio can speed up extraction of data from legal documents and necessary paperwork, while helping users to stay competitive in a quickly digitalising landscape.
Sin concludes, “We at NOVATION are committed to usher in businesses into the digital world through automation and data security. We also strive to help you enhance your business performance in your industry. DataVio reduces the need for manual data processing, thereby improving your business services.”