Kofax Connect: Making the First Mile of Business Smarter
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The document outlines Kofax's vision for enhancing the 'first mile' of customer interactions through improved systems of engagement and record. It emphasizes the importance of real-time information and mobile solutions in increasing responsiveness and efficiency for businesses. Kofax aims to simplify these processes, providing organizations with the tools needed to adapt to changing customer demands and reduce operational costs.
Kofax Connect: Making the First Mile of Business Smarter
- 1. Kofax Connect Making the First Mile of Business Smarter™
- 2. 1. What is the First Mile™? 2. What’s the challenge of the First Mile? 3. How do I get there from here? 4. Demonstration 2 Agenda
- 3. Technology Has Changed How We Interact…. We live in a very connectedworld Organizations haveto respondto the changes in how people interact Companies that get this right will win… the others? What can you do to help? Let’s explore how we got here… 3
- 4. Systems of Record run your business… They are your ERP, CRM, ECM and other enterprise systems You’ve invested heavily in these systems over the years You’ve made them as efficient as you can 4 The Past 20 Years ECM BPM CRM ERPSoR
- 5. Systems of Record are only as good as the information that goes into them Kofax helps you fuel these systems with the right information and content But…business is changing 5 Information Drives Value ECM BPM CRM ERPSoR
- 6. Information is more complex Channels are more varied Change is a constant This creates a challenge for Systems of Record 6 It’s a Changing World ECM BPM CRM ERPSoR
- 7. IT is becoming ‘consumerized’ Consumers are more demanding Customers want instant access and rapid response Cloud-based solutions create a 24/7 service expectation These are Systems of Engagement… 7 It’s a Changing World ECM BPM CRM ERPSoR
- 8. It is important to execute well across all our business processes…. But it is critical to excel in the first part of the process. What Does This Mean for Your Organization? ...we call this “The First Mile” 8
- 9. This is the business critical first mile of customer interaction! The First Mile™ 9 Systems of Engagement Systems of Record
- 10. Kofax Vision and Mission Mission To dramatically transform and simplify the business critical First Mile of customer interactions Vision To make the First Mile™ of business smarter Value In doing so, organizations can significantly increase their responsiveness to customers, provide a higher level of service, gain competitive advantage and better manage and grow their businesses while also greatly reducing operating costs.
- 11. Market Evolution & Growth 11 Market Size 1M 100M 1B+ 1985 1990 1995 2000 2005 2010 2015 $0 $1B $2B $3B $4B $5B 100K 500K Smart Phones & TabletsUsed by Employees & Customers Desktop Scanners& MFPsin Highly Distributed Front Offices MidRange Scanners in Distributed RegionalOffices ProductionLevel Scanners in Centralized, Back Offices Monolithic PageScanners in Centralized BackOffices “Everyone has a scanner in their pocket today.” Geoffrey Moore, Best-selling Business Author
- 12. 67% consider mobile devices to be important to improvingbusiness processes 45% believe mobile devices would improve their speed of responseby > 3X Yet >75% havemadeno progress toward these goals Importance of Mobile Financial Services •Customer onboarding •Mortgage & loan apps •Appraisals •“Trailing documents” Healthcare •New patient onboarding •Clinical documentation •Medical claims submission •Revenue cycle management Government •Citizen benefit enrollments •Claim submissions •Licenses, permits & renewals •“Trailing” documents Source: AIIM – April 2012 Insurance •New policy quotes •Customer onboarding •Claim submissions • “Trailing” documents
- 13. Benefits of Mobile Capture 13 Source: AIIM Study: Distributed and Mobile Capture, 2012 0% 10% 20% 30% 40% Immediate feedback/approval at customers home/business Supporting data can be validated closer to the customer On-the-spot proof-of-identity/signature capture Case workers/inspectors/professionals can access and update case-files on-site Fewer lost forms or dropped processes Traveling/remote staff can initiate or sign-off process Savining in physical transporting/handling/storage costs Field staff can trigger processes without going-back-to-baics Process is triggered in minutes, not hours or days 0% 5% 10% 15% 20% 25% 30% Greater geographical reach possible Moves handling and/or keying costs to the customer or… Better tracking of incomplete or abandoned processes Supporting data can be immediately validated Provides a 24/7 service Supporting documents more likely to be at hand Improves customer experience - more in control Self-service - reduces time/costs for frontline staff What would be the three biggest benefits fromextending distributed capture to the home, portable or mobile devices of your… What would be the three biggest benefits from extending distributed capture to the home, portable or mobiledevices of your agents/customers/citizens/suppliers? Reduced time & cost Process efficiency Customer self-service Improved compliance End-to-end visibility Better quality Employees Customers
- 14. Systems of Record are enterprise applications designedfor internal purposes Kofax – The Essential Link Kofax provides an essential link between systems of engagementand systems of record Results in an Optimized Customer Experience & Greatly Reduced Operating Costs 14 Systems of Engagement generate real time, informationintensive communicationsfrom customers
- 15. Kofax Value 15 ImageCapture Process Management Extend to Pointof Origination™ ContentCapture
- 16. Point of Origination™: Extending Systems & Processes 16 Point of Origination Systems & processes Productionscanners Centralized back office Agents & Field Workers Smart phones & tablets Customer locations Smart phones & tablets Desktop scanners& web portals Remote branch offices MFPs FAX Electronic
- 17. Kofax TotalAgility™ Extending Your Investment 17 ERP ECM CRM BPM Kofax Capture™ Kofax Transformation Modules™ Kofax Import Connectors™ Kofax CommunicationServer™ Kofax Front Office Server™ Kofax Mobile Capture™ Kofax Web Capture™ Kofax Analytics for Capture
- 18. First Mile Solutions First Mile™ challenge: Information intensive interactions with an organization Labor intensive, slow, error-prone Can adversely affect perception of your business 18 First Mile Solutions Increase customer responsiveness Minimize need to modify existing enterprise applications & repositories Provide an essential link between “systems of engagement” & “systems of record”… Eliminate process latency in a mobile world
- 19. Smart Process Applications 19Source: Forrester – August 2012 Support business processes that are: People intensive Information intensive Highly variable & unpredictable Loosely structured & subject to change Collaborative and require these five capabilities: Awareness of relevant data & content Capture of documents& forms Analysis of targeted inputs Business Process Management to managethe steps of an activity Collaboration to createcontent
- 20. Kofax Smart Process Applications 20 Awareness of relevant data & content Capture & Output of documents & forms Analysis of targeted inputs Business Process Management to manage the steps of an activity Collaboration to create content EmbeddedBI & analytics Both process& data analytics Monitoring,reporting & dashboards Simulation& predictive modeling ETLcapabilities Recognizes and processes key metadata to speed up processes Integrates with allinformation sources Leader in Forrester MultichannelCaptureWave Captures paper & electronic info at Point of Origination™ Collaboratevia email, IM, SMS & MMS Integration with MicrosoftSharePoint, Dynamics, Office365, Lync & Exchange Server Leader Forrester Dynamic Case ManagementWave On-Premiseor PaaS Manageunpredictable processes
- 21. Workplace Safety & Insurance Board Challenges > 1,000 claims per day, > 240,000 per year 40,000 pages of paper & faxes / day Processing is labor intensive, slow, prone to errors & expensive Difficult to provide a responsive level of service Systems of record can’t accommodate e-Business No fault workers compensation insurance for > 230,000 employers with > 4.5M employees. Third largest group insurer in North America ExpectedBenefits Move to electronic input via mobile devices Faster & more accurate processing via automation Greatly reduced operating costs Improved customer service All withouthavingtouchtheir systems of record 21
- 22. For further information, please contact: Phone: 949-783-1333 Email: contactme@kofax.com