For companies to survive and thrive in a competitive market environment, it is important that they build capabilities that promote business agility. Businesses must become more agile to adapt quickly to changing market conditions and ensure sustainable growth. The best way to future-proof companies against plausible global disruptions is by investing in technology. Technology, for the most part, is an enabler and helps create foolproof, sustainable business models for future growth.
Today, Enterprise Resource Planning (ERP) software has become a staple for most businesses. ERP applications help companies align and implement their business objectives systematically. Part of why an ERP application software has become so indispensable to the daily functioning of a company is that it provides a single source of truth of everyday business.
“...A lack of mechanism for ERP systems to easily work with source data makes these applications rigid and hard to apply for heavily document-dependent functions. In order to improve the agility of businesses for long-term growth, there is a need to establish end-to-end intelligent document processing from the point data enters an organization to its use in an ERP system...”
However, over-customization of ERP applications to suit individual business needs has led to these becoming more rigid and less adaptive to disruptions of any kind. If companies are to stay the course of continued growth, they must transition their existing systems and processes to work fluidly with complex work processes.
Part of this effort is to extend the capabilities of an ERP system to work easily with unstructured and semi-structured data. Why, you ask? Because a major part of business processes deal with transactions that involve data. In fact, data is at the core of many business operations. Enabling an ERP software application to work with complex document-dependent processes containing a lot of unstructured and semi-structured data forms will help extend its application to newer areas of business. This increases the agility of businesses to handle complex work processes and improve their workability in the event of any disruptions.
ERP applications run on data. Mostly, this is transaction data that comes from source documents like vendor invoices, customer sales orders, packing slips, bank statements, etc. These are typical unstructured and semi-structured documents. Getting data out of these source documents and into ERP systems is a complex and time-consuming process. Any delays in data entry to ERPs lowers the impact that the enterprise software can make on business outcomes. Delayed or incorrect data also renders the ERP system pointless as the business outcomes will be more or less faulty.
A lack of mechanism for ERP systems to easily work with source data makes these applications rigid and hard to apply for heavily document-dependent functions. In order to improve the agility of businesses for long-term growth, there is a need to establish end-to-end automation from the point data enters an organization to its use in an ERP system.
Intelligent automation of document-dependent processes achieves this. Artsyl’s Intelligent Process Automation (IPA) platform, called docAlpha, captures, extracts, validates., and verifies source documents for use in a connected ERP system. The IPA platform employs digital transformation technologies like AI, machine learning, business process automation, intelligent data capture, and recognition software like OCR/ICR to perform straight-through document processing. Artsyl’s prepackaged solutions for automating several document-dependent processes like accounts payable, sales order processing, medical claims processing, check remittance handling, etc. are built upon docAlpha.
The important thing to note here is that these intelligent process automation solutions integrate with many different ERP systems including Acumatica and Netsuite Cloud ERPs, QuickBooks, Sage ERP, Microsoft Dynamics 365, SAP Business One, etc. to enable the end-to-end process automation that is required to accelerate data availability to these applications.
Artsyl’s many different integrations to ERP software systems helps eliminate the gap in automation that was preventing ERPs from being flexible. In fact, these ERP integrations increase the flexibility and scope of ERP software to work in many new verticals and projects that seemed complex because of heavy document processing work. Artsyl extends the capabilities of ERPs to work in document-dependent processes.
Increased flexibility of ERP systems to manage different processing requirements also increases the chances of business continuity in case of any disruptions. Take the case of accounting, for example. Normally, there would have been need for accounting personnel to be physically present to get hold of source documents from various channels like emails, scan, files shares, etc., perform data entry to get all the details into a company spreadsheet, to validate and verify them against database records, and then re-enter the validated data in an ERP system for further business use. All these steps are automated with Artsyl’s intelligent process automation.
Artsyl bridges the gap in automation from when a source document enters an organization to when it is loaded in an ERP system. For this to happen, Artsyl offers proprietary API-level integration connectors to different ERP systems. Tight API-level integration with many different ERPs automatically builds an end-to-end process chain for implementing document-dependent functions. A single transformative platform such as this enables intelligent document processing of business documents from anywhere and greatly eliminates the need for the physical presence of personnel in a central office.
When a new sales order is received, the document is captured and automatically uploaded into Artsyl’s intelligent process automation workflows. The document goes through the different steps of data validation and verification before it is automatically exported to a connected ERP system. Due to the integration of Artsyl with the ERP system, the entire process from document capture to export to the ERP is done on a single platform, this process can be managed from anywhere. This greatly increases the flexibility of companies to work on document-dependent business processes from anywhere, in the event of any disruptions.