Smart is the way forward, if you’re looking to beat the competition and build steady revenues. But is it really worth automating something as mundane and routine as a mailroom job? The answer is YES! We discuss why it pays well to digitze your mailroom operations and how intelligent process automation transforms not just your traditional mailroom jobs but also accelerates the pace with which you deliver business.
Mailroom was once a typical cost center and a business necessity. With digitization, however, many of the perceived cost centers like accounts payable and mailroom operations are now value-added jobs. Automation or intelligent automation, to be specific, brings companies the transformation they need to elevate the efficiency of routine processes and accelerate business outcomes. Mailroom jobs are document-intensive and require due diligence and consistency, which are not always possible manually.
A typical day in the life of a mailroom clerk involves, among other tasks
These are not just document-intensive and laborious, but also highly time-sensitive and require strong organizational skills to get the job done on time. Even for a small business, the amount of documentation that it needs to handle on a daily basis multiples with every transaction with external stakeholders. Here, we are talking about just the incoming mail from outside the business. There is also the inter-office mail that can increase with new business dealings or just more management duties. This too adds significantly to the workload of a mailroom clerk.
“Simple RPA software comes with standard processing logic that is sufficient for handling routine jobs that do not change. But RPA software has its limitations and cannot handle new jobs that deviate from the standard workflows for which it was programmed. Intelligent automation, on the other hand, employs machine learning to ‘learn’ new tasks, much as a newly recruited mailroom clerk would by learning on the job. This increases the scope for scaling operations exponentially and amplifying the workload that intelligent automation bots can handle”
As firms grow, mailroom operations become more complex and never-ending. Scanning, labeling, sorting, etc. are labor-intensive and require the continuous engagement of a mailroom clerk. Because these tasks are highly clerical and repetitive, digitizing these using an intelligent automation solution can help not just relieve the talented mailroom clerk of mundane duties but also lower the costs of inefficient handling of mail.
The longer your check is in the mail, the more delayed your receivables…
Many documents can be critical paperwork that must be accessed or delivered on time. Mail may also include checks and remittance documents. The longer your check is in the mail, the longer you will have to wait to access the money you are owed. From a business perspective, delayed receivables or realization of check payments made to you can result in low incoming cash and cash reserves. This is not good for business. Sufficient cash reserves give companies an opportunity to invest in new business ventures or growth initiatives. In a way, mailroom management impacts companies at the very core of their business.
Today, intelligent process automation solutions come with embedded cognitive technologies like AI and machine learning that mimic the actions of a mailroom clerk to perform the very same functions, with as much detail and diligence, but without the inefficiencies and costs of human error. Intelligent automation is an advanced automation technology that is quickly becoming a part of mainstream corporate digitization and office automation.
The technology combines AI and machine learning with robotic process automation, providing a much sophisticated automation with autonomous decision-making capabilities needed to execute document-intensive jobs. Simple RPA software comes with standard processing logic that is sufficient for handling routine jobs that do not change. But RPA software has its limitations and cannot handle new jobs that deviate from the standard workflows for which it was programmed. Intelligent automation, on the other hand, employs machine learning to ‘learn’ new tasks, much as a new mailroom clerk would by learning on the job. This increases the scope for scaling operations exponentially and amplifying the workload that intelligent automation bots can handle.
RemittanceAction is Artsyl’s intelligent process automation solution for automated check remittance and mailroom document processing. RemittanceAction combines AI, machine learning, robotic process automation, along with intelligent capture and document recognition software like OCR/ICR/OMR. This enhances the capabilities of the software to handle complex document processing work with human-like precision but without the inconsistencies, errors, and inefficiencies of human effort.
Intelligent data capture is different from traditional capture technologies in the market; the data extraction method is not template-based or context dependent. Artsyl employs machine learning as the primary data extraction method and is supported by different recognition engines. Multiple recognition engines can be applied at once to a single workflow or job, depending on the data extraction requirements and document complexity. AI and machine learning enable ‘self-learning’ of document types; with RemittanceAction, users are assured that their checks, in any format, will be captured, validated, and verified, with payments guaranteed in the least amount of time. Document validation and data accuracy are a guarantee with RemittanceAction.
The solution comes with an image preprocessing function where the check images are enhanced for easy recognition and capture. With this feature and machine learning, you are assured of a very high recognition confidence score and 99.9% extraction. Once validated, the checks are automatically routed to a verification manager for any dispute resolution and approval/rejection. Post the verification and approval, your check is ready to be automatically exported to an A/R system for final remittance processing. RemittanceAction makes use of generic, built-in capture logic, capture definitions developed from self-learning, as well as customized capture derived from a combination of generic and self-learning knowledge. This gives you the power to process a diverse range of checks and also scale operations exponentially.
The mailroom is no longer ‘stuck’ in the clerical section of your business. Intelligent automation has amplified the scope for faster check processing and receivables, ensuring a steady stream of incoming cash. With RemittanceAction you will be:
Get a first-hand demo of how to re-engineer and improve receivables, and ensure you get paid on time with RemittacmeAction. Contact us today!