{"id":5861,"date":"2016-01-13T16:21:39","date_gmt":"2016-01-13T16:21:39","guid":{"rendered":"https:\/\/www.investintech.com\/resources\/blog\/?p=5861"},"modified":"2019-08-26T10:46:58","modified_gmt":"2019-08-26T10:46:58","slug":"lean-document-management-data-extraction","status":"publish","type":"post","link":"https:\/\/www.investintech.com\/resources\/blog\/archives\/5861-lean-document-management-data-extraction.html","title":{"rendered":"Improving Lean Document Management With Data Extraction"},"content":{"rendered":"

\"Successful<\/span><\/p>\n

In this day and age, the success of a company relies heavily on efficiency and productivity. As such, systems and services have been developed in order to cut down on waste and reduce the effort in managing workflows and document management. When reassessing the effectiveness of their workflows, companies across all industries use systems like Strength-based Lean Six Sigma.<\/span><\/p>\n

With the level of data finance and compensation service companies handle, <\/span>Strength-Based Lean and Six Sigma<\/span><\/a>\u00a0can work to improve the business process and records management<\/span>. <\/span><\/p>\n

What is Strength-Based Lean Six Sigma?<\/b><\/p>\n

Strength-Based Lean Six Sigma is a system that focuses on assessing and identifying practices used within a company in order to improve it through methodical and active modifications. After best practices (and problems) are identified, steps are then taken to start restructuring the workflow according to the company’s goals and ideals. \u00a0Companies are then evaluated periodically to ensure the changes made are consistently effective.<\/span><\/p>\n

This on-going process can show business owners where there are weaknesses, bottlenecks, and wasted effort in their system. As you can imagine, workflows that handle high volumes of documents daily require such evaluation to ensure data processing keeps going smoothly, accurately, and efficiently. \u00a0If not, business owners can then make adjustments accordingly\u00a0in regards to both time and activity.<\/p>\n

But working to apply that system to clientele data requires more than just a records management system.\u00a0Companies like CM Global Partners specialize in applying Strength based LEAN and Six Sigma to sales compensation (Lean Sales Compensation). \u00a0As a consulting company, they assist in strategically planning and creating accurate sales compensation plans for their clients.<\/span><\/p>\n

The Only Setback In The Workflow<\/b><\/p>\n

However, in order to create customized Lean compensation plans for companies, they need to deal with the client\u2019s information that comes in the PDF format, a locked down file format that prevents editing of any kind.<\/span><\/p>\n

Consequently, they would extract the data manually by retyping scanned PDFs into Excel. They had used different software in the past, but needed accuracy. In addition, they needed a way of exporting their clients\u2019 PDF data into Excel that would work with their system, Compensation Master. Their process always required the data to be audited and identical to data in the PDF file.<\/span><\/p>\n

\"CEO\u201cWe had an industry leading service,\u201d says David Cocks, CEO of CM Global Partners, \u201cNow we just needed a more efficient way to extract the data.\u201d <\/span><\/p>\n

Creating the most effective plans possible is CM Global Partners\u2019 priority. So<\/span> the company decided to invest in Able2Extract<\/a> to help speed up the data extraction process.\u00a0<\/span><\/p>\n

Using Data Extraction To Help With Strength-Based Lean Six Sigma<\/b><\/p>\n

A case study was done to get a closer look at how and where Able2Extract fit in with their goals and workflow. Some of the benefits that resulted from their move to Able2Extract include: <\/span><\/p>\n