Business process automation, digital transformation, robotic process automation…no matter what you call it, organizations of all sizes today are looking for better ways to do things faster and more cost effectively by automating inefficient and error-prone manual tasks.
Recently, AIIM conducted a study to look at the most common processes that companies seek to automate. The results aren’t surprising to organizations like ours, who work with companies seeking to take the pain out of business processes. Just look at any department that is dependent on data and documents, with a high transaction volume, and you will find the quickest ROI for process automation.
According to the AIIM Industry Watch Survey titled Paper-Free 2016: Are We There Yet?, accounts payable and records management are top hot zones in today’s organizations for digital transformation and automation. Additional areas that are rapidly going digital and benefitting from automation include accounts receivables (27%), contract management (21%), HR on-boarding (19%), HR applicant tracking (18%), and customer on-boarding (14%).
Smart Process Platforms and Business Process Automation
Smart Process Platforms, like Artsyl’s docAlpha, integrate with existing back end business systems to transform the unstructured data in documents driving business processes and stored in ECM systems into structured data that can be stored and managed in ERP systems—automatically, with minimal human intervention. This process is called intelligent capture.
Smart Process Platforms can extract information from business documents and other unstructured data sources that can power a rules driven, automated approach to sorting and processing documents, routing information for validation, approval and coding and ultimately enter data and process transactions within ERP systems.
Using accounts payable as an example, AP staff members can use intelligent capture to eliminate routine manual 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.
As the AIIM survey suggests, automating AP or sales order processing can be the beginning of a broader initiative to transform any inefficient process within an organization, achieving greater efficiency and visibility for ALL of their critical business processes.
To explore how Intelligent Capture and Smart Process Platforms can help automate and accelerate operations for your organization, contact your Artsyl Technologies representative.