Two years ago, Gartner predicted that by 2017, 20% of all market leaders would lose their number one position to a company founded after the year 2000 because of a lack of digital business advantage. While the path from vision to action can be long and convoluted for many organizations, one essential landmark on that journey is tackling back office processes that are all too often burdened by error-prone and inefficient manual operations.
As consultant Jaspreet Bindra explained in a discussion of the Ten Commandments of Digital Transformation, “[Back office integration] is the ‘uncool’ part of the equation, the most common point of failure of your digital story. It is also where most hard work has to happen. While digital is not IT, IT is the backbone of all digital execution.”
In many cases, companies today already have the right ERP and ECM systems in place to support the kinds of business models described by Gartner. What’s often missing is the ‘connective tissue’ to turn existing enterprise resource systems (ERPs) and Enterprise Content Management Systems (ECMs) into the engines of a business revolution.
Digital Transformation Platforms, like Artsyl’s docAlpha, integrate with existing back end business systems to transform the unstructured data in documents stored in ECM systems into structured data that can be stored and managed in ERP systems—automatically, with minimal human intervention.
For AP staff members, this translates into the elimination of routine tasks like invoice/order matching, manual approval routing and G/L coding, transaction data entry and document filing. For executives, it means that data and documents are transformed into information instantly, resulting in greater visibility to critical business KPIs, including cash flow. For customers, this can translate into greater responsiveness and better service at a lower cost.
Here is a highlight of some of the new enhancements to docAlpha V6 that will empower new and existing customers and partners to apply process automation to any document-driven process:
docAlpha V6 relies on the context of information found in a document to more quickly and reliably classify documents and extract meaningful, actionable data to support and inform a process workflow. Rather than relying on coordinates that define where information (like a vendor name or PO#) might appear in an unstructured document like an invoice or sales order, docAlpha V6’s approach comes closer to allowing the system to look for and ‘read’ a document to identify relevant data.
docAlpha V6 state-based workflow delivers true business process automation functionality; when integrated with ERP/ECM systems, docAlpha provides the flexibility that partners and customers may want, in order to determine which workflow/process automation functionality they may want to take advantage of.
A newly-refactored entity framework for docAlpha V6 supports more efficient data communications between docAlpha and integrated ERP/business systems, supporting more efficient database look-ups during the validation process.