Without doubt, the leading question among industry peers, employees, business executives, and managers these days is how to simplify processes and mobilize operations. Bringing the focus back to productivity in the midst of the ongoing pandemic is a challenge — fewer manpower resources and limited capital is impeding progress at the operational level for many companies.
These difficulties are compounded by the fact that most companies still deal with outdated systems where business is conducted mainly using paper. Manual paper-based processes are, more often than not, error-prone, and tend to slow down operations due to the sheer volume of paperwork — a missing PO here or a duplicate invoice there, and the whole invoicing process for a single vendor could add to the overall departmental complexity and confusion.
The need of the hour is for companies to transition to an operational system that guarantees business continuity even in the event of an economic, political, or social upheaval that challenges the business environment in any way.
Another concern that became quite evident during this pandemic is the urgency to deploy a business model that ensured process efficiency and control even with shortage of personnel or cash flows.
A lot of these concerns have been allayed in recent months through digital transformation. Big corporations aside, even mid-sized companies that found themselves cash strapped have expressed a keen interest in modernizing their departments. We have seen the recent spike in SaaS based applications and cloud solutions across enterprises in specific departments like Finance & Accounting, Procurement, Sales & Marketing, Human Resources, etc. Part of the reason why automation of these departments was essential is that these are the departments that entail a lot of human labor and operational costs. Streamlining back-office operations within these sectors has benefitted companies immensely, as this manufacturing firm will tell you after deploying an intelligent automation solution to enhance visibility and be in control of their AP/AR operations.
From deploying niche, point solutions to having in place complete platform applications, businesses are sparing no effort in researching the right technology tool to take care of their mission critical operations. In this space, Artsyl has taken the lead to alleviate a lot of the costly, painstaking, labor-intensive work attached to document-based processes by introducing Intelligent Process Automation (IPA) to streamline these tasks. We’ll look at why and how Artsyl’s proprietary IPA solutions will change the course of your back-office from a mere administrative unit to an efficient cash flow center.
As a publisher of intelligent process automation technologies for driving document-based processes, Artsyl has demonstrated the efficiencies and cost savings that you can achieve from mission critical operations like accounts payable, order processing, check remittance, medical claims, etc. Artsyl’s IPA deploys digital transformation technologies like AI and Machine Learning, Intelligent Data Capture, OCR/ICR, Business Process Automation (BPA), etc. to create a near-autonomous process implementation platform for implementing back-office tasks.
Data is at the core of process implementation in any back-office function. The initiation of a process like accounts payable starts with data entry of invoice details into a workflow. Manual data entry is a perennial headache for many companies, even when they have the necessary staff and resources to do the job. Just imagine performing data entry for the tons of vendor invoices that make way into your business every day! Almost all your skilled workers’ efforts go into performing this mundane, repetitive task.
Artsyl’s IPA is embedded with intelligent data capture technology that removes the headache of manual data entry once and for all. The software uses machine learning as well as powerful OCR/ICR technology to identify, extract, and classify data from a diverse set of source documents in a matter of minutes. Added to that, on encountering a new invoice for which the software has no pre-trained extraction knowledge, it relies on AI and machine learning to learn from user actions performed to extract those details the first time — it applies this learning for all subsequent data entries to be made from similar invoices.
You will find here that with intelligence-specific workflows and powerful capture technology, called Auto-Find, Artsyl’s IPA is able to undertake the complete document-based process implementation with as little manual intervention as possible.
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You are assured of straight-through processing of your vendor invoices and sales orders from the time they enter your business through multi-channel capture (emails, ftps, fax, etc.) to when they are cleaned up and authenticated, and ready to be used in your line-of-business (LOB) applications.
Now, you must be wondering if you still need to manually enter the authenticated data from source documents into your LOB, and wouldn’t that entail having a person in-charge at all times to take care of that?
That’s where Artsyl’s powerful integration features with a vast array of business applications, ERPs, and workflow platforms becomes most effective — creating a plethora of business use cases from a single transformative platform solution.
Take the case of Artsyl’s integration with SAP Business One. The Artsyl document process automation platform extends your SAP Business One capabilities to AP and AR functions, automatically pulling POs and GRNs for data validation including 2-way/3-way matching and vendor lookups in your SAP Business One database, and routing of invoices for approvals before automatically posting the final supplier payments to your SAP Business One.
The Artsyl IPA extends application of your SAP Business One to handle document-intensive tasks like order processing, accounts payables, etc. within the SAP Business One system itself, eliminating the need for double data entry of approved invoices. This integration creates an end-to-end single platform solution for touchless processing of all source documents from the point of capture to final ERP transaction creation in SAP Business One. With this integration, manual intervention is required only in instances where there are exceptions that need to be resolved.
The elimination of the need for staff to process source documents and the reduction in operating costs as a result of touchless processing automatically elevates the investment in your SAP Business One, allowing you to access, process, and approve source documents from anywhere, without signing out of your SAP Business One application.