Reducing Costs Through Document Automation for a More Efficient Workplace
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The document discusses how CVISION Technologies provides document automation solutions to help organizations reduce costs through more efficient document processing. It outlines challenges organizations face with document storage and processing. CVISION offers technologies like OCR, compression, and automated data extraction from forms to help address these challenges. Case studies show how CVISION solutions helped clients achieve accurate automated processing of invoices and tax forms, reducing labor costs and realizing a return on investment within months.
Reducing Costs Through Document Automation for a More Efficient Workplace
- 1. Ari Gross Ph.D. CTO/CEO, CVISION Technologies Reducing Costs Through Document Automation for a More Efficient Workplace 7/9/2014
- 2. Valuable Content Transformed • Document Digitization • XML and HTML Conversion • eBook Production • Hosted Solutions • Big Data Automation • Conversion Management • Editorial Services • Harmonizer
- 3. Experience the DCL Difference DCL blends years of conversion experience with cutting-edge technology and the infrastructure to make the process easy and efficient. • World-Class Services • Leading-Edge Technology • Unparalleled Infrastructure • US-Based Management • Complex-Content Expertise • 24/7 Online Project Tracking • Automated Quality Control • Global Capabilities
- 4. We Serve a Very Broad Client Base . . .
- 5. . . . Spanning All Industries • Aerospace • Associations • Defense • Distribution • Education • Financial • Government • Libraries • Life Sciences • Manufacturing • Medical • Museums • Periodicals • Professional • Publishing • Reference • Research • Societies • Software • STM • Technology • Telecommunications • Universities • Utilities
- 6. Agenda • CVISION Overview • Challenges Associated with Document Capture • Technology to Overcome Challenges • Opportunities for Document Automation • Client Case Studies • Conclusion • Questions & Answers
- 7. CVISION Overview • Diverse client base including 100+ Fortune 500 companies • Winner of several global technology awards • Unique solutions to provide the highest quality PDF files & document automation through patented technology • Based in the United States
- 8. Challenges Associated with Document Capture Increased Storage Costs Inefficient Documents Slowed Network Bandwidth Unsecure Documents Dirty Images Unsearchable
- 9. Technology to Overcome Challenges PDF Encryption Image Enhancement Advanced Compression Highly Accurate OCR
- 10. Value of PDF as File Format PDF Optimization for Business Processes Fully-Text Searchable Compression Digital Preservation (PDF/A) Displays the same Web-optimization Metadata Insertion
- 11. Document Capture Best Practice: Opportunities for Automation • There are ROI opportunities beyond document optimization • Optimized scans can produce higher automation rates • Automated extraction can produce measurable ROI Optimizing Scanned Documents •OCR •Compression •PDF Conversion •Image Processing Automating Document Processes •Invoices •Forms •Mailroom •Classification
- 12. Opportunities to Reduce Costs & Accelerate Processes • Forms Processing – Data extraction from structured or semi- structured documents • Invoice Processing in the AP department • Document Classification / Mailroom Classification
- 13. Getting Started: Know Your Documents • Discuss accuracy rate expectations – are they realistic? • Examine text/handprint - what is required? • What is the business process associated with recognition? • Fixed / Semi-Structured Forms / Unstructured • Level of variation in documents, e.g. invoices
- 14. Getting Started: Testing sample documents • Essential element of positive implementation • Sample documents for testing – Typical / atypical documents to test – Realistic Document Sample • Client and solutions architect must discuss goals – Accuracy – Speed – File formats – How to achieve a ROI
- 15. • Automation process begins with form design • Boxes, Combs, Unconstrained • Field Spacing • The simpler the better • Numbers • Separate fields: Phone number = 3 separate fields • Color for improved recognition Getting Started: Form Design
- 16. Forms Processing Applications Healthcare Tax & Accounting Finance & Banking InsuranceGovernment Corporate
- 17. Forms Processing: Optimizing Handwritten Recognition • Recognizing handwriting usually requires out of the box engineering • Numbers vs. Letters: 10 vs. 52 (or more) • Image preprocessing: remove boxes, slashes • Convert internally to normalize DPI, e.g. all images 300 DPI • Dollar amounts handled differently • Enumerated Fields, e.g. Zip Codes • With handwritten recognition and automation, it is imperative to discuss and understand expectations with vendor
- 18. Classification Engine Mailroom Automation Document Classification: Creating a Portal to Business Customer Support Finance Sales Engineering Accounts Payable Invoice Processing • Automate Business Processes: Forms, Invoices, Semi-structured documents • Create portal to control business • Streamline image based documents & processes
- 19. Invoice Processing Success Story: Calculating Savings Manual Process Automated Solution Employees Required Invoices Processed / Hour 30 100 Accuracy Rate 97% 99%
- 20. • A leading US distribution firm needed to overcome the challenges of having a labor-intensive accounts payable operation. These challenges included: • Employees spending most of the day manually keying in information • An overwhelmed workforce dealing with a high-volume of invoices • Potentially hiring an additional employee to deal with the workload Business Challenge • The firm licensed CVISION’s Trapeze for Invoice Processing which easily handled their substantial workload. Thus providing them a means of auto-extracting line item field data with a high level of accuracy and speed. Solution • Employees could now process invoices in just one hour a day. • Additional time to focus on more value-adding tasks. • The cost of hiring an additional employee was avoided. • Firm achieved a ROI within 6 months of implementation. Benefits Client Case Study – Success Story
- 21. • An international accounting firm wanted to utilize cutting edge technology to automate their tax forms. Given their existing specialized workflow, they required: • Data to be compiled in a specific Excel format in accordance with the firm’s business rules • Technology to handle their many varying tax forms • An efficient and price-competitive solution • Two means of distinguishing themselves against competing firms Business Challenge • To circumvent these difficulties the firm licensed CVISION’s Trapeze software which seamlessly integrated with their existing business system. They purchased a license enabling them to process up to 10 million pages per year. Solution • The software had no difficulty in extracting data from the diverse form types. • Tax forms became fully automated which freed up time for data analysis. • All documents were made fully-text searchable, allowing them to be retrieved instantly. • Competitive advantage • Expert system for seasonality • Firm realized a ROI within 4 months Benefits Client Case Study – Success Story
- 22. • A global financial company faced a rapidly accumulating amount of physical documents in the office. They encountered: • A substantial rise in storage and personnel costs • An inability to differentiate crucial documents from regular documents, subjecting them to late fees and penalties Business Challenge • In response to these obstacles, they turned to CVISION’s document classification software. They attained an automated and accelerated distribution process for documents. Solution • Costs dramatically reduced through automatically classified, routed and sorted files. • Avoided late fees and penalties. • Newly compressed PDF files are found instantly and require less network bandwidth, saving time and resources. • ROI within 6 months Benefits Client Case Study – Success Story
- 23. Conclusions: Automated Processing Benefits • Reduces labor by 50%– 80% • Increases data accuracy • Accelerates processing through automatic classification & indexing • Automated solutions available for: invoices, EOBs, corporate forms • Easy to demonstrate ROI of an automated system
- 24. Q&A Ari Gross Ph.D CTO/CEO, CVISION Technologies +1 (866) 871-7340 info@cvisiontech.com