Document Automation

Document automation, also known as document assembly, is the process of creating documents at scale from a defined set of rules outlined by document automation software. The process streamlines the creation, management, and distribution of digital documents, helping businesses save time and increase profitability. Additionally, removing manual document management helps to improve accuracy and eliminate human error.

The Components of Document Automation

Document automation tools gather data from databases or questionnaires to generate a template and produce numerous types of documents in various formats. The software can identify personal information, scan internal or third-party systems, and populate document fields.

The automation process includes the following components:

Data Collection and User Input

Document creation is usually a collaborative effort. Whether it be you, your team, or business partners, accurate data input is crucial. Document automation software allows data entry from multiple users at once.

Document Generation

Document automation empowers you to generate documents exactly how you want them. The document management software follows rules and guidelines on how data should be populated to automate documents. This business tool can configure a wide range of document types, such as:

•     Microsoft Word documents (DOCX files)  
•     PDFs
•     Spreadsheets (Excel)
•     Contracts, wills, and other legal forms
•     Letters

Data Management

Document automation software allows users to gather, store, and analyze the data they collect. This data is securely stored and can be assessed quickly for generating similar documents for the same clients.

Users and anyone with access to the software can create profiles, store their information, and edit responses as needed. This centralized system improves communication and ensures everyone is on the same page.

What Data Is Used for Document Automation?

The data used for document automation depends on the type of document being created. Data can include parts of existing information, new data, or placeholder variables in a template. The software then uses a logic-based flow to assemble the data and create the necessary document.

Choosing the Right Document Automation Solution

While the right document automation system depends on your business, knowing the available features can make the selection easier. Some of the most beneficial document automation features include:

An Assortment of Templates Available

Document automation platforms allow users to create and customize document templates for multipurpose use. Businesses should browse through templates to ensure they have the right types for different use cases, as well as templates that support specific needs.

Document Workflows

You may want to consider a document automation platform that helps you define workflows and makes the document creation process simple with expert guidance. This feature allows you to streamline document creation processes, shortening the time to accomplish these tasks.

While there are plenty of platforms that just offer document generation, businesses should choose one that supports the end-to-end document lifecycle. This includes aspects like e-signatures, stakeholder assignments, approvals, and reviews.

Document and Contract Management

Businesses must have solutions that are easy to maintain and customizable to successfully adapt to changing business landscapes. With these features, document automation platforms ensure brand standards, policies, and compliance are consistently maintained across an organization.

Integration Availability

The real benefit of a document automation solution involves its ability to integrate with other third-party solutions, such as financial services or legal technology. Integration is crucial to ensure that business information can be seamlessly shared between different systems, such as your organization’s storage system, enabling automatic retrieval for future uses.

Ease of Use

Selecting document automation software that is intuitive and easy to navigate will lead to successful adoption and a positive user experience. Complex technology can frustrate employees, resulting in the need for changes. Opting for a solution with a simple interface and a quick learning curve is the best choice.

Benefits of Document Automation

In the modern business world, solutions that increase efficiency and eliminate the threat of errors are prized commodities. Document automation makes the document creation process more efficient by automating tasks such as data entry, formatting, and content insertion. This level of efficiency allows organizations to shift their focus to tasks that contribute toward organizational growth and success.

Furthermore, manual document creation leaves room for inadvertent errors. These errors can lead to misunderstandings that must be sorted out before business can resume, plus costly mistakes that require financial compensation.

In addition to increased efficiency and fewer mistakes, document automation aims to benefit organizations in several ways, such as:

Save Time

Manually generating documents is labor-intensive and often takes several hours to complete, especially when creating complex documents. Using document automation software drastically reduces the time needed to accomplish this task. This helps to boost productivity and accelerate workflows. According to some research, organizations that adopt document automation can reduce document processing times by an average of 80%.

Scalability

Businesses in a position to expand must prepare for their volume of documents to grow. Manual processes can struggle to keep up with this demand, often resulting in inconsistencies that can significantly hinder a company’s reputation as it scales. Document automation systems can handle the influx of new documents easily and maintain high-quality outputs at peak times.

Compliance

Organizations occupying the healthcare, finance, and legal industries are required to adhere to strict regulations for all operations, including document creation. Generating documents manually can increase the possibility of errors, which might lead to non-compliance. Compliance rules are integrated into document automation solutions, ensuring every document created meets legal requirements.

Improved Collaboration

In some cases, multiple parties are needed to create a document. This can be especially difficult when using traditional methods. With document automation platforms, you will enjoy real-time collaboration capabilities that allow multiple users to work on a document simultaneously. This advantage helps expedite the document creation process so business tasks can function on time.

Personalization and Branding

Dynamic fields allow automated documents to be tailored to individual recipients while maintaining the standardized format. Your customers and clients will enjoy a more personalized experience with recipient-specific data.

Branding is a crucial component of many businesses. To build brand recognition and customer trust, companies must maintain a consistent brand image across all platforms. Document automation ensures every document created on your company’s behalf uses the same brand guidelines, including logo placement, color schemes, and font styles.

Cost Savings

The initial investment of document automation software is worth it thanks to the potential long-term savings. Companies that rely on manual document creation often consume valuable resources and are prone to errors that can be costly to rectify. Automation and document creation can support a company’s bottom line by reducing labor costs, minimizing the threat of mistakes, and optimizing resource allocation.

Accessibility

Manual document creation limits how new documents are accessed. With cloud-based automation solutions, authorized users have the advantage of accessing documents from anywhere, at any time. With the ability to access documents remotely, collaboration and decision-making are improved. Because access is available on-demand, these platforms have robust security measures to keep sensitive information protected. This ensures businesses keep data confidential and maintain compliance with data protection regulations. 

Analytics and Insights

Understanding document usage, trends, and user behavior can be highly advantageous for organizations. With built-in analytics capabilities, you can identify optimization opportunities, track document workflows, and make business decisions more easily.

How Different Industries Use Document Automation

All industries can benefit from using document automation by implementing it into their day-to-day work. Examples include:

Legal Services

Law firms use document automation to streamline document creation for legal forms, agreements, letters, and other legal documents. Legal document automation speeds up the time it takes to review and approve important legal papers.

Real Estate

Real estate agents can eliminate tedious workflows by utilizing document automation to generate property agreements. This helps real estate brokers to cut closing times and deliver an amazing purchasing or selling experience to their clients.

Business

Companies can quickly produce customized business documents, sales proposals, and marketing materials to accelerate business operations. Completing work promptly allows businesses to maintain healthy relationships with their clients, customers, and business partners.

Finance

Financial services require varying approaches to documentation. Files for one client require consistent information across all materials, such as name, date of birth, and address. Meanwhile, other documents require different formatting, especially when working with international clients. Financial document automation creates and processes these documents according to predefined rules.

Pharmaceutical

Drawing up documents and reporting findings are crucial aspects of bringing new medications to market. Much of the time spent testing new drugs involves documenting different processes, including clinical trial reports, adverse event reports, and more. Generating these documents manually can slow down the time it takes for a new drug to become available to the public. Pharmaceutical companies use document automation to improve efficiency, reduce costs, and ensure compliance with regulations.

Discover More About Document Automation With MarcomCentral

Document automation helps businesses generate a wide range of documents, making the process more efficient and eliminating the risk of costly errors. MarcomCentral is dedicated to helping brands achieve success and drive growth through customizable solutions, including full workflow automation. Those interested in learning more about our document automation services and how they can benefit your business may contact us today or request a demo.