Go Green with Document Management

Overview

Many organizations struggle with a glut of paper-based information. Whether it comes in the guise of forms -- patient in-take forms, mortgage application forms, enrollment forms, order forms, invoices, or other data-heavy documents -- extracting the data is often cumbersome. This type of data extraction can involve hours of manual data entry and may involve input errors.  When this this paper-based data is combined with native digital data that is scattered across a variety of applications and desktops throughout the business, it can be a mind-boggling mess!

There's an easier way!  Cost effective machine learning and artificial intelligence (AI) bring accurate document recognition and classification, along with data extraction, within reach of most businesses.  Even small to mid-sized business find these technologies within their reach, enabling them to compete better in an increasingly digital marketplace. 

Overview

Financial Services is a data-driven industry and change is here. As financial organizations struggle to stay ahead of technology challenges, they must update technology, comply with federal regulations, and keep up with ever-changing consumer demands. Digital transformation is necessary in order to stay competitive.

If you're not sure about Business Process Automation (BPA) and the terms and technology that makes BPA possible, then take a quick look at our handy, dandy pictorial guide.

It explains the use of technology --  RPA and AI -- to automate business processes and workflow.  This includes the routing of information step-by-step and the automatic processing of tasks.  RPA and IA are types of Business Process Automation, though they perform separate functions on their own.

Meet the ‘bots

If you’re not already sharing work with bots and artificial intelligence, you soon will be, according to a recent article in Forbes:

“Robotic Process Automation (RPA) is today one of the fastest growing sectors of business technology, yet one which is often misunderstood…RPA is indeed something entirely new, and as part of a broader strategy for workflow technology, can enable levels of efficiency and digitalization previously out of reach.  RPA is one of the four essential pillars of Intelligent Automation.”

We define those four essential pillars as Strategy, Technology & Data, People & Processes, and Governance.

Introduction

We all know that in the last century automation led to significant shifts in agriculture and manufacturing employment, causing significant disruption and joblessness in these blue-collar sectors.  Now that rapid advances in artificial intelligence and robotics have expanded automation to routine office tasks, some experts offer attention-grabbing headlines that tell us the same will happen to white collar jobs

There is no doubt that automation will potentially transform future white-collar jobs and the structure of the labor force.  But will it be an all-encompassing “blood-bath” of lost white-collar opportunities?  The answer is yes and no.

Why Your Business Should Adopt Customer-Centricity

Customers’ power in the marketplace drives more business successes and failures than nearly any other factor. Are you giving your customers what they expect?  What they demand? 

In a nutshell, are you making the best use of technology to drive a customer-centric business? 

Capture, Manage, Route & Automate Business Information | 5 minute read

Introduction

The amount of information businesses must process continues to increase.  Workers everywhere need a fast, effective way to capture the important information they need to do their jobs, regardless of the informational format (email, snail-mail, electronic, etc.).  Once the information is captured, workers, and the organization as a whole, must be able to manage the data safely and efficiently.  The importance of ensuring that the right data is routed to the right person at the right time cannot be underestimated. 

How would your organization improve if you could capture and extract the data you need, then route it automatically where it needs to go, when it needs to be there?  How about using integration and Robotic Process Automation (RPA) tools to improve your business processes?  Today’s technologies enable all this and more, maximizing the productivity of your entire organization.  Executives should take heed!

Extend the Power of EDM with BPA | 3 minute read

Introduction

While the core capabilities of Electronic Document Management (EDM) – document versioning, check-in and checkout, search, and workflow – have remained largely the same over the past 15 years, advances in usability, scalability, application delivery and “smart” technologies that improve process automation have dramatically changed its value proposition.  Today’s EDM systems draw on new technologies such as Artificial Intelligence (AI), Machine Learning and Robotic Process Automation (RPA) to ramp up the ROI on organizations’ EDM investment.  This is particularly important for small to mid-sized businesses that may have been less willing previously to invest than larger enterprises. 

Labor Automation 2.0 – Robotic Process Automation (RPA)

It used to be that when we talked about labor automation, it meant automation of traditional “blue collar” jobs in manufacturing facilities and factories.  Today’s labor automation is a whole new breed – what we call Labor Automation 2.0 – and it’s taking place in “white collar” offices, businesses and organizations around the world. 

Labor Automation 2.0 means that any work process that is definable, repeatable, and rules-based can be mapped out and assigned a software robot or “Bot” to manage the manage the execution of that process, just as a human would. It is also called Robotic Process Automation (RPA).  

RPA is separate and distinct form an organization’s IT structure.  It is not another business application.  Rather it is a substitute for a human worker to operate business applications.

Robotic Process Automation for Business

Sometime over the past couple of years, what used to be called Business Process Automation (BPA has morphed into Robotic Process Automation (RPA).  So, just what's the difference between the two?

BPA includes technologies such as imaging (scanning applications that help convert paper documents into digital files) and workflow (automatically routing documents from one step to another in a business process).  Sometimes BPA includes integration of tasks between applications, requiring the assistance of a programmer.  

The global market for RPA technologies will reach $8.75 billion by 2024.

~Grand View Research