Nov 2019
27

How automation improves data entry accuracy in real estate?

By Chirag Shivalker, Digital Content Head, Hi-Tech BPO
216

Manual data entry from real estate documents is accountable to have erroneous and out-of-date information. None of the real estate player would want it while making decisions.

With today’s advancements in technology, and automation of processes; a more efficient real estate data entry solution is the way out. Real estate firms can leverage robotic process automation (RPA) backed with Machine learning (ML) algorithms to automate their process of data entry from scanned property documents. Governed by pre-defined rules, RPA bots automate document sorting, classification, data entry, approvals, and much more; for the real estate firms to achieve data accuracy.

Let’s have a look at some of the frequently asked questions about data entry errors in the real estate documents.

•    What are the ways to reduce data entry errors in real estate?

RPA can be leveraged to replace manual data entry, where bots perform progressive steps right from scanning and recognition to verification and the delivery of data collected from scanned images of real estate documents.  

•    How to achieve data accuracy in real estate documents?

The criticality of data quality in strategic decision making makes it imperative for real estate players to invest additional time & energy in detecting and resolving data entry errors. Banking on experienced, technology-focused real estate data entry service provider gives them accurate, secure, and scalable alternative to manual data input and document management.

•    How to avoid manual data entry challenges in real estate?

Capturing the data automatically from scanned images and using it to eliminate manual data entry steps is what real estate companies should move towards. Given the range of tools, services and experience data capture experts use; it makes data quality simple, fast and affordable.

•    How do you minimize the risk for error in real estate?

Erroneous data entry from real estate documents cause financial bottlenecks & delayed decisions. Real estate industry should leverage intelligent action bots to replace manual workflows to collect data from titles, deeds and contracts accurately and minimize or eliminate the risk completely.

•    What are the challenges affecting data entry accuracy of real estate documents?

Manual document preparation, manual routing, manual data entry and the cost of manually indexing and filing of real estate documents are the contributors to shockingly high inaccuracies in data collected from them.

The concept of capturing data from scanned real estate document images is not new. Scanning documents is actively reducing the amount of paper real estate industry processes, but capturing information from those documents is the biggest value proposition. 

Key decisions of real estate property life cycle depend on availability & reliance of accurate data.

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Chirag Shivalker Digital Content Head, Hi-Tech BPO
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Updated: 27 Nov 2019
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