{"id":97175,"date":"2023-03-28T02:08:58","date_gmt":"2023-03-28T00:08:58","guid":{"rendered":"https:\/\/factorialhr.com\/blog\/?p=97175"},"modified":"2023-03-30T12:04:16","modified_gmt":"2023-03-30T10:04:16","slug":"document-scan-software","status":"publish","type":"post","link":"https:\/\/preproduction.factorialhr.com\/blog\/document-scan-software\/","title":{"rendered":"Product spotlight: Factorial\u2019s smart document scan software"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Here at Factorial, we are always striving to improve our products and better meet the needs of busy HR professionals. This month, we\u2019ve been making exciting updates to many of our features, including our popular Document Management System. <strong>With our new document scan software, users can scan and fill expense reports automatically,<\/strong> alleviating professionals from the task of manually filling forms one-by-one.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this article, we\u2019ll discuss our new feature in detail, highlighting its benefits and how to use it. Then, we\u2019ll look into more of Factorial\u2019s document management features and explain how they are used in tandem with our other products.<\/span><\/p>\n<p><a href=\"https:\/\/factorialhr.com\/get-started\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"alignnone wp-image-89831 size-full\" src=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2023\/01\/05151547\/FREE-TRIAL-2023.jpg\" alt=\"\" width=\"675\" height=\"232\" srcset=\"https:\/\/preproduction.factorialhr.com\/wp-content\/uploads\/2023\/01\/05151547\/FREE-TRIAL-2023.jpg 675w, https:\/\/preproduction.factorialhr.com\/wp-content\/uploads\/2023\/01\/05151547\/FREE-TRIAL-2023-300x103.jpg 300w\" sizes=\"(max-width: 675px) 100vw, 675px\" \/><\/a><\/p>\n<div class=\"js-toc toc\">\n<p class=\"js-toc-title toc__title\">Table of Contents<\/p>\n<nav id=\"fac_toc_nav\" class=\"js-toc-nav toc__nav\" aria-label=\"Table of Contents\"><ol class=\"toc__list toc__list--level-1\"><li class=\"toc-heading-level-2\"><a class=\"toc__link toc-link-heading-1\" href=\"https:\/\/preproduction.factorialhr.com\/blog\/document-scan-software\/#why-invest-in-document-scan-software\" title=\"Why invest in document scan software?\" data-target-id=\"why-invest-in-document-scan-software\">Why invest in document scan software?<\/a><\/li><li class=\"toc-heading-level-2\"><a class=\"toc__link toc-link-heading-2\" href=\"https:\/\/preproduction.factorialhr.com\/blog\/document-scan-software\/#how-factorial\u2019s-smart-document-scan-feature-works\" title=\"How Factorial\u2019s smart document scan feature works\" data-target-id=\"how-factorial\u2019s-smart-document-scan-feature-works\">How Factorial\u2019s smart document scan feature works<\/a><\/li><li class=\"toc-heading-level-2\"><a class=\"toc__link toc-link-heading-3\" href=\"https:\/\/preproduction.factorialhr.com\/blog\/document-scan-software\/#more-of-factorial\u2019s-document-management-features\" title=\"More of Factorial\u2019s document management features\" data-target-id=\"more-of-factorial\u2019s-document-management-features\">More of Factorial\u2019s document management features<\/a><\/li><li class=\"toc-heading-level-2\"><a class=\"toc__link toc-link-heading-4\" href=\"https:\/\/preproduction.factorialhr.com\/blog\/document-scan-software\/#say-goodbye-to-time-consuming-tasks-with-factorial\" title=\"Say goodbye to time-consuming tasks with Factorial\" data-target-id=\"say-goodbye-to-time-consuming-tasks-with-factorial\">Say goodbye to time-consuming tasks with Factorial<\/a><\/li><\/ol><\/nav><\/div>\n<h2><span style=\"font-weight: 400;\">Why invest in document scan software?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">By investing in software that allows you to keep paperwork and manual processes to a minimum, you can make a lot of progress on many fronts. What it comes down to is that no one likes paper-pushing and tedious tasks. It\u2019s bad for morale, bad for productivity, and can be extremely expensive for businesses. In fact, according to a <\/span><a href=\"https:\/\/www.mckinsey.com\/industries\/technology-media-and-telecommunications\/our-insights\/the-social-economy\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">McKinsey report<\/span><\/a><span style=\"font-weight: 400;\">, <strong>employees lose an average of 1.8 hours out of every day searching for and gathering documents<\/strong>\u2013that\u2019s roughly 9.3 hours per week!\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Document scan software <strong>automates the process of gathering and reporting business expenses and cuts out all of the manual hassles.<\/strong> Factorial\u2019s all-in-one solution, for example, uses optical character recognition (OCR) to recognize characters and text from physical paper documents and convert them into digital files. Essentially, you can scan a receipt with your phone\u2019s camera in the same way that you would scan a QR code, which greatly facilitates the process from beginning to end. Here are some of the specific ways that this feature can benefit companies:<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Speed up expense reporting<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Reporting expenses manually means hours of going through piles of paperwork, searching for receipts, and punching in numbers. And for many growing businesses, there\u2019s no extra time to waste.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>With smart document software, you can complete the entire process within seconds.<\/strong> You make better use of your team\u2019s time and talents, increase efficiency and reduce expenses. Not only will you save on labor costs, but also, if you are keeping records of printed receipts, you can make better use of office storage space.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Reduce margin of error<\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><strong>When it comes to expense reporting, little mistakes can lead to big consequences.<\/strong> For that reason, you\u2019ll want to use a tool that reduces the possibility of human error. After using our smart document scanning tool, you can quickly look through the digital files to make sure that everything is correct before submitting reports.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Free your team of monotony<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">There\u2019s nothing more demotivation or demoralizing for a team of qualified professionals than having to fish through paperwork and spend hours repetitively entering information. With this update, <strong>you can relieve your team of this time-consuming task and encourage them to dedicate time to more engaging activities.<\/strong> For example, strategic decision-making tasks that help your business to scale.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How Factorial\u2019s smart document scan feature works<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You might be wondering how this new feature actually works. Here, we\u2019ll go through <strong>step-by-step instructions on how to report expenses using Factorial\u2019s mobile app.<\/strong><\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Open Factorial\u2019s expense reporting feature<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">To open the expense reporting feature, first, open the mobile app. Select \u201c<strong>more<\/strong>\u201d from the bottom right menu on the screen.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone  wp-image-97601\" src=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2023\/03\/30120309\/Screenshot-2023-03-30-at-11.50-1-300x170.png\" alt=\"factorial document scan us\" width=\"529\" height=\"300\" srcset=\"https:\/\/preproduction.factorialhr.com\/wp-content\/uploads\/2023\/03\/30120309\/Screenshot-2023-03-30-at-11.50-1-300x170.png 300w, https:\/\/preproduction.factorialhr.com\/wp-content\/uploads\/2023\/03\/30120309\/Screenshot-2023-03-30-at-11.50-1-1024x582.png 1024w, https:\/\/preproduction.factorialhr.com\/wp-content\/uploads\/2023\/03\/30120309\/Screenshot-2023-03-30-at-11.50-1-768x436.png 768w, https:\/\/preproduction.factorialhr.com\/wp-content\/uploads\/2023\/03\/30120309\/Screenshot-2023-03-30-at-11.50-1-1536x872.png 1536w, https:\/\/preproduction.factorialhr.com\/wp-content\/uploads\/2023\/03\/30120309\/Screenshot-2023-03-30-at-11.50-1.png 1801w\" sizes=\"(max-width: 529px) 100vw, 529px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">From there, you will find the option to open \u201c<strong>expenses<\/strong>\u201d and access the reporting feature.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Upload invoices<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Next, you will need to upload invoices or receipts into the program. In order to do this, simply select the \u201c<strong>+<\/strong>\u201d symbol in the top right corner of the screen. This will give you the option to <strong>add a new expense<\/strong>.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Then, you will be prompted to select one of the following options: <strong>take a picture, select an existing picture,<\/strong> or <strong>select an existing document.<\/strong> If you are taking a picture of a receipt from your phone\u2019s camera, make sure that all of the important information is visible and scannable. After taking the picture, you will see a white box appear to adjust and crop out any unnecessary areas.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once you\u2019ve finished, click \u201c<strong>\u2713<\/strong>\u201d to accept the changes. Afterward, the OCR will automatically process and read the document to find the necessary information<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Review collected information<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Factorial\u2019s expense reporting feature only takes a few seconds to read and automatically fills expense report forms. This tool is also extremely accurate, however, <strong>it\u2019s always best to double-check to make sure that everything was scanned properly before submitting your final report<\/strong>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whether you\u2019ve used a photo or a document, after the tool has scanned the information, you will see a form with expense detail fields filled automatically. Factorial\u2019s tool is capable of recognizing and determining the type and quantity of expense incurred. When you see the expense detail screen, at this point, you should check to make sure that the tool collected and processed the<strong> following information:<\/strong><\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Expense categorization<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Name of the business\/vendor<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Type of currency<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Total amount<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sales tax<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Date<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Additionally, you should see a copy of the original photo attached to this form. That way, you can <strong>keep your records located in one central space.<\/strong><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once you\u2019ve checked to make sure that everything is correct and in the right place, all that\u2019s left is to click \u201c<strong>send for final approval<\/strong>\u201d at the bottom of the screen. If you\u2019d prefer to wait before sending off the expense, you can opt to save everything as a draft instead.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Expense reporting from Factorial\u2019s desktop application<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Although we\u2019ve gone through the process of reporting expenses with Factorial\u2019s mobile app, you can do so just as easily with the desktop application. The process is basically the same. From the \u201c<strong>expenses<\/strong>\u201d tab, you can \u201c<strong>add a new expense<\/strong>\u201d, upload the document, and save the expense report within seconds.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">More of Factorial\u2019s document management features<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Our new document scan software adds to our comprehensive <\/span><a href=\"https:\/\/factorialhr.com\/blog\/document-management-software\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">document management system<\/span><\/a><span style=\"font-weight: 400;\">, also known as <\/span><a href=\"https:\/\/factorialhr.com\/blog\/edms\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">electronic document management system (EDMS)<\/span><\/a><span style=\"font-weight: 400;\">. From payroll to e-signatures, to contracts, this tool allows users to process and store documents securely and efficiently.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Aside from using our document scan software feature, here\u2019s what you can do with <\/span><a href=\"https:\/\/factorialhr.com\/document-management\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Factorial\u2019s document manager<\/span><\/a><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Create a custom archival system<\/strong> in which you can store <\/span><a href=\"https:\/\/factorialhr.com\/blog\/employee-files\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">employee files<\/span><\/a><span style=\"font-weight: 400;\">, IDs, payslips, leaves, contracts, onboarding documents, and more<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Organize and store files in a centralized document repository<\/strong>. And thereby minimizing hours spent tracking down paperwork.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Request and approve e-signatures for legal documents,<\/strong> such as contracts or timesheets.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Speed up your processes by creating automated workflows<\/strong> for documents that require approval from more than one party.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Control and manage document access.<\/strong> Which is particularly important to stay compliant with data security and privacy regulations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Use bulk actions to upload many documents at once.<\/strong> This can save you a large amount of time with paperwork, especially if you have to upload and distribute 50 or 100 documents at a time.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Create custom reports based on document data.<\/strong> For example, regarding employee salaries and demographic information<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In addition to the aforementioned features, Factorial\u2019s document manager allows you to <strong>send signature requests<\/strong> and <strong>document updates<\/strong> to employees directly. Whenever there is a new document that an employee needs to review or sign, they will automatically receive a notification on their employee dashboard and via email. Overall, this means less back and forth and smooth, hassle-free processes.<\/span><\/p>\n<p><a href=\"https:\/\/factorialhr.com\/get-started\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"alignnone wp-image-89831 size-full\" src=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2023\/01\/05151547\/FREE-TRIAL-2023.jpg\" alt=\"\" width=\"675\" height=\"232\" srcset=\"https:\/\/preproduction.factorialhr.com\/wp-content\/uploads\/2023\/01\/05151547\/FREE-TRIAL-2023.jpg 675w, https:\/\/preproduction.factorialhr.com\/wp-content\/uploads\/2023\/01\/05151547\/FREE-TRIAL-2023-300x103.jpg 300w\" sizes=\"(max-width: 675px) 100vw, 675px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">Say goodbye to time-consuming tasks with Factorial<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When it comes to simplifying and streamlining your processes, document management is just the beginning. With Factorial\u2019s all-in-one <\/span><a href=\"https:\/\/factorialhr.com\/blog\/hr-software\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">HR software<\/span><\/a><span style=\"font-weight: 400;\">, you can <strong>empower your employees with the right tools and the right business practices.<\/strong> Here are some of the core features included in our solution:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Time off management-<\/b><span style=\"font-weight: 400;\"> Automate time off requests and approvals for your team. Set time off allowances and visualize employee vacations in a calendar view.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Attendance and shifts-<\/b><span style=\"font-weight: 400;\"> Create custom templates for rotating shift schedules, keep track of employee absences, and stay compliant with federal and state time-tracking laws.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Employee dashboard-<\/b><span style=\"font-weight: 400;\"> Give your team the autonomy to update their personal information and access records. With this feature, you can send company-wide communications and notifications to your team about important events, surveys, and milestones.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Performance management-<\/b><span style=\"font-weight: 400;\"> Support your team\u2019s growth and development with personalized performance review questions and templates. Make more informed decisions regarding promotions and succession planning by taking into account qualitative and quantitative data.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Talent acquisition tools-<\/b><span style=\"font-weight: 400;\"> With our applicant tracking system, you can create a customized career page and tailor the application pipeline to your organization\u2019s specific needs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Reports and analytics-<\/b><span style=\"font-weight: 400;\"> Gain insight into your team\u2019s productivity and the company\u2019s success with our reporting features. This tool allows you to stay on top of KPIs and create custom charts based on employee data.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Payroll- <\/b><span style=\"font-weight: 400;\">Generate payslips, set fixed supplemental pay, automate communications with employees, calculate overtime pay, bonuses, and more.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Ultimately, Factorial\u2019s solution will help you do more than just carry out your daily functions. It will take monotonous manual tasks off your plate and allow you to focus on your company&#8217;s growth. With Factorial, <strong>you aren\u2019t just investing in software, you&#8217;re investing in your team\u2019s success. <\/strong><\/span><a href=\"https:\/\/factorialhr.com\/get-started\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Get started with Factorial today.<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here at Factorial, we are always striving to improve our products and better meet the needs of busy HR professionals. This month, we\u2019ve been making exciting updates to many of our features, including our popular Document Management System. With our new document scan software, users can scan and fill expense reports automatically, alleviating professionals from<a href=\"https:\/\/preproduction.factorialhr.com\/blog\/document-scan-software\/\" class=\"read-more\"> [&#8230;]<\/a><\/p>\n","protected":false},"author":155,"featured_media":97176,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[349],"tags":[],"class_list":["post-97175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hr-tech"],"acf":{"topics":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Document scan software: Factorial&#039;s new feature - Factorial<\/title>\n<meta name=\"description\" content=\"All about Factorial&#039;s newest document scan software feature. Learn how to scan receipts and report expenses within seconds.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Product spotlight: Factorial\u2019s smart document scan software\" \/>\n<meta property=\"og:description\" content=\"All about Factorial&#039;s newest document scan software feature. 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