In Tough Economic Times, Consider Automated Data Capture

By Samuel Schrage, AnyDoc Software

The state of our nation's economy has been headline material for months and was especially grim in the fourth quarter of 2008. Many companies in various industries have seen profits fall. To weather this economic storm, personal finance experts have recommended boosting emergency savings funds and obtaining credit before it is needed. But how is your company planning to remain profitable in the current state of our economy?

We've all heard the terms ‘do more with less' and ‘tighten your belts.' But what do these terms really mean? According to IT analysts, a typical business reaction in an economic downturn is to cut spending. Many companies have implemented a freeze on capital expenditures and are continuing to delay projects. However, in the case of investments in technology, putting products on hold may do more harm than good. When the economy is struggling and competition is fierce, the infusion of technology into your company may actually give your bottom line a boost. This is especially true for automated document and data capture technologies because they are designed to help you ‘do more with less' by replacing manual processes.