Intelligent Content Capture: The Art of Saving a Million Keystrokes and Millions in Annual Costs
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Paragon Solutions, Inc. provides intelligent content capture solutions to help organizations convert paper documents into digital data, enhancing business efficiency and reducing operational costs. The document outlines the agenda of a presentation, including case studies showcasing productivity improvements and cost savings achieved through automated capture solutions. It emphasizes the growing capture market and highlights best practices for implementing effective digital mailroom strategies.
Intelligent Content Capture: The Art of Saving a Million Keystrokes and Millions in Annual Costs
- 1. Paragon Solutions, Inc. Proprietary and Confidential April 12, 2011 Intelligent Content Capture: The Art of Saving a Million Keystrokes and Millions in Annual Costs Paragon Solutions & EMC
- 2. Paragon Solutions, Inc. Proprietary and Confidential - 2 - Agenda Martha Coacher, Vice President Corporate Marketing & Alliances, Paragon Solutions • Review of Agenda and Introductions Mike Hurley, Solutions Director, Paragon Solutions • What is Content Capture and Why is it Important? • What a Typical Project Looks Like • Case Studies • How to Implement a Content Capture Solution • Benefits Bill Galusha, Principal Product Marketing Manager, EMC Captiva • Overview of Intelligent Enterprise Capture • Use Case Demonstration Q&A
- 3. Paragon Solutions, Inc. Proprietary and Confidential - 3 - Paragon Solutions’ Introduction Corporate Facts • National Coverage • Global Clients • NJ Headquarters • Dual-shore Development • CAGR 20+% • Privately owned, 29-year history Paragon is an enterprise information management solutions company that helps firms leverage information assets to achieve better business results.
- 4. Paragon Solutions, Inc. Proprietary and Confidential - 4 - A Preferred Partner of EMC INSURANCE & HEALTHCARE LIFE SCIENCES FINANCIAL
- 5. Paragon Solutions, Inc. Proprietary - 5 - Mike Hurley Solutions Director, Paragon Solutions
- 6. Paragon Solutions, Inc. Proprietary and Confidential - 6 - Intelligent Content Capture The transforming of paper documents, faxes and other content into digital data used by enterprise applications. • Classification and extraction using OCR, ICR, OMR and barcode. • Semi-automated, templates, semi-structured. The capture market continues to grow at a rate of about 7% annually and should exceed $2 billion in 2011.
- 7. Paragon Solutions, Inc. Proprietary and Confidential - 7 - The Rationale for Intelligent Content Capture • ROI in 12 months • Low-risk Investment • Better Information Access • Compliance • Green Initiatives Source: EMC/AIIM Survey Despite the compelling benefits, most organizations are only scanning 50% of all possible documents.
- 8. Paragon Solutions, Inc. Proprietary and Confidential - 8 - Uses for Intelligent Content Capture • Policy Claims • Accounts Payable • Invoice Automation • Mortgage Documents • Human Resources Insurance Carriers’ adoption of capture soared last year – up 30% - - moving closer to the initial point of capture.
- 9. Paragon Solutions, Inc. Proprietary and Confidential - 9 - Digital Office Reducing Paper Costs and Compliance Risks Capture for Business Processes Addressing Line of Business Paper Challenges Transactional Solutions Solving Case-based Applications and Solutions Digital Mailroom Leveraging Automation to Increase Productivity Degrees of Capture Solutions
- 10. - 10 - Incoming Paper Approval Fax E-mail Office Docs DOC Today’s Mailroom Process
- 11. - 11 - DELIVERPROCESSCAPTURE Incoming Paper Fax E-mail Office Docs DOC 10010 Acme Products 30 January 2008 $ 6,014.81 $ 6,025.88 Net 30 Days ACCOUNTS PAYABLE CUSTOMER SERVICE NEW ACCT OPENING CASE MGMT Approval Digital Mailroom Process
- 12. Paragon Solutions, Inc. Proprietary and Confidential - 12 - Case Study #1 Business Overview • $1 billion in annual revenue • 1,650 bills/ 35,000 claim docs • 43 sorts • 35 Branch Offices The Solution • Analysis, Design and implementation • 1,400 forms automated • Automated, rules-based WF • Single ECM repository • Consistent RM policies Business Benefits • Productivity : 45% increase • TAT: 2 Days • Savings: 35%+ reduction in cost/claim, $1.5 million savings/year • Single Point of the Truth: Claims central ECM and RM
- 13. Paragon Solutions, Inc. Proprietary and Confidential - 13 - Case Study #2 Business Overview • Health Insurance Payer • 550,000 members; 850 FTE • 9000 paper claims/day • Complex prep, multi-sort process pre-data entry • Manual entry into multiple systems The Solution • Automated capture of all claims data with IBMLs • Auto-validation of key fields • Business rules direct processes • Auto-generation of letters • Single repository for all docs • Enforceable RM policies Business Benefits •Productivity: 60% increase •TAT: 3 days of receipt •Savings: 30% reduction in cost/claim •Errors: 75% reduction in rates •Single Repository: Central access for all docs (Find documents logically)
- 14. Paragon Solutions, Inc. Proprietary and Confidential - 14 - Best Practices Implementation Strategy Prioritization Business Case BlueprintAssessment How to Implement a Digital Mailroom
- 15. Paragon Solutions, Inc. Proprietary and Confidential - 15 - Efficiency Maturity Model Maturity Scale High Low OPTIMIZED MANAGED DEFINED REACTIVE INITIAL Awareness of risk issues but no action is being taken OrganizationalEfficiency Low Efficiency Moderate Efficiency High Efficiency Action occurs in response to issues. Actions are either system or department specific Information developed is part of the IT charter and enterprise management processes Information managed as enterprise asset and well- developed engineering processes and organization structure exists HighLow Information is developed is a strategic initiative, issues are either prevented or corrected at the source, and best- in-class solution architecture implemented.
- 16. Paragon Solutions, Inc. Proprietary and Confidential - 16 - Assessment and Business Case • Define cost estimates for selected initiatives • Define estimated cost savings / revenue growth • Develop business case − B/E − ROI • Define improvement opportunities. • Define prioritization criteria and weight appropriately − Risk − Client impact − Unit Cost / cycle time − Cost • Develop the Future State process vision including process flows and functional capabilities. • Identify external systems, application integration requirements. • Interview business and technical stakeholders. • Document / validate existing processes. • Conduct technical assessment of existing technology assets. • Determine integration requirements. • Conduct functional requirements analysis. • Summarize key functional and non-functional requirements. Assess Requirements Define Overall Future State Establish Prioritization Develop Business Case Define Roadmap STAGE 1 STAGE 2 STAGE 3 STAGE 4 • Define roadmap for key process / organization / change management and technology initiative • Develop the implementation strategy − Milestones / dependencies − Identify transition plan STAGE 5
- 17. Paragon Solutions, Inc. Proprietary and Confidential - 17 - Benefits Estimates Current State Processing Analysis Process Title Transaction Volumes (Yearly) Current State Process Time Per Task Current State Process Time Total Current State Process Cost per Task Current State Process Cost Total Current State Elapsed Time Estimate Email/Mail Intake 37,200 8 4,960 $2.67 $95,200.00 1-2 Days First Notice 8,649 180 18,362 $175.53 $1,036,245.06 10-15 Days Payment 31,969 87 28,817 $85.00 $1,537,063.61 5-10 Days Reserve 53,472 48 40,137 $40.98 $1,973,921.96 10-15 Days Update 8,500 113 16,008 $143.13 $1,216,633.33 N/A Close 16,032 22 5,880 $16.17 $259,232.50 N/A 114,163 $6,118,296.47
- 18. Paragon Solutions, Inc. Proprietary and Confidential - 18 - Benefits Estimates Future State Processing Analysis Process Title Future State Process Time Per Task Future State Process Time Total Future State Process Cost per Task Future State Process Cost Total Future State Elapsed Time Email/Mail Intake 3 1,820 $1.10 $40,040.00 .5 Days First Notice 154 14,904 $166.39 $946,969.77 2 Days Payment 64 16,126 $66.29 $868,949.01 2-5 Days Reserve 26 20,397 $26.40 $1,199,075.46 2-5 Days Update 97 13,742 $122.87 $1,044,366.67 N/A Close 13 3,474 $10.75 $172,347.80 N/A 70,462 $4,271,748.70 Annual Variance 1,846,548
- 19. Paragon Solutions, Inc. Proprietary - 19 - Bill Galusha Principal Product Marketing Manager, EMC Captiva
- 20. 20© Copyright 2011 EMC Corporation. All rights reserved. THE HIDDEN SECRETS OF OCR: ART OF SAVING A MILLION KEYSTROKES Bill Galusha Principal Product Marketing Manager
- 21. 21© Copyright 2011 EMC Corporation. All rights reserved. TAKING ENTERPRISE CAPTURE TO THE NEXT LEVEL Unlock the Value of Capture and Achieve a Greater ROI
- 22. 22© Copyright 2011 EMC Corporation. All rights reserved. Intelligent Enterprise Capture EMC Captiva transforms paper from a liability into immediate business advantage • Capture Anything, from Anywhere • Intelligently Connect Document Information to Business Systems • Mission-critical Enterprise Scalability & Availability
- 23. 23© Copyright 2011 EMC Corporation. All rights reserved. Intelligent Enterprise Capture Considerations Capture Anything, from Anywhere1
- 24. 24© Copyright 2011 EMC Corporation. All rights reserved. AD HOC CAPTURE • knowledge workers • desktop scanners CENTRALIZ ED CAPTURE • mailroom • dedicated scanning DISTRIBUTED CAPTURE • branch or regional offices • field offices, customers • web-based scanning • scanners and mfp Capture Anything, from Anywhere
- 25. 25© Copyright 2011 EMC Corporation. All rights reserved. centralized batch capture fax server integration ad-hoc desktop capture ad-hoc browser-based capture networked mfp capture e-mail integration Capture Anything, from Anywhere
- 26. 26© Copyright 2011 EMC Corporation. All rights reserved. Intelligent Enterprise Capture Considerations Capture Anything, from Anywhere Intelligently Connect Document Information to Business Systems 1 2
- 27. 27© Copyright 2011 EMC Corporation. All rights reserved. Intelligent Document Recognition Eliminating manual document preparation AUTOMATE D SORTING FULL-PAGE IMAGE TEXT- BASED ANALYSIS PRECISION ANCHORS HAND- WRITING FULL-PAGE IMAGE TEXT- BASED ANALYSIS PRECISION ANCHORS HAND- WRITING
- 28. 28© Copyright 2011 EMC Corporation. All rights reserved. Doc Set 4Doc Set 1 Claim folder: 0045128 Doc Set 2 Doc Set 3 Claim Folder: 0045670 Addressing Complex Document Sets • Automatically organize documents into multiple levels • Single and multi-page docs plus attachments
- 29. 29© Copyright 2011 EMC Corporation. All rights reserved. Intelligent Data Recognition Dramatically reduces operational costs through automation • Highly accurate, automated machine- printed and hand- printed recognition • Automated data extraction from both zonal regions and intelligent freeform rules
- 30. 30© Copyright 2011 EMC Corporation. All rights reserved. Intelligent Data Extraction SSN ID # Date 555-44-3333 369-6123 04/08/08 SSN ID # Date 555-44-3333 369-6123 04/08/08 Extracts data from all document types using zonal or freeform data extraction Identifies regular patterns and data formats to increase accuracy
- 31. 31© Copyright 2011 EMC Corporation. All rights reserved. Intelligent Data Extraction and Automated Data Validation SSN ID # Date 555-44-3333 369-6123 04/08/10 Compares extracted data against data sources, business rules, or inspect manually
- 32. 32© Copyright 2011 EMC Corporation. All rights reserved. Intelligently Connect Information Intelligent Capture Other Systems Electronic Images Document Metadata Extracted Data Trigger Processes Electronic Images Document Metadata Extracted Data Trigger Processes
- 33. 33© Copyright 2011 EMC Corporation. All rights reserved. Configuring Capture Projects Automated versus manual Learn documents in production • Learns based on operator input, data captured, free-form rules • In production on day one, rather than days or weeks later Manual setup of projects • Collect documents, set up document templates, create extraction zones • Test and retest projects • Days or weeks before entering production Document Capture Project Administrator Operators NE W
- 34. 34© Copyright 2011 EMC Corporation. All rights reserved. Intelligent Enterprise Capture Considerations Capture Anything, from Anywhere Intelligently Connect Document Information to Business Systems Mission-critical Enterprise Scalability and Availability 1 2 3
- 35. 35© Copyright 2011 EMC Corporation. All rights reserved. mailroom Accounts Payable Claims Enterprise Capture Availability Leverage single platform throughout enterprise • Very High Document Volumes • Central and Distributed Capture • Automatic Document Sorting • Ad Hoc and Distributed Capture • Intelligent Data Extraction • Integration with Business Systems • Branch Office Distributed Capture • Automated Forms Processing • Integration with Business Systems
- 36. 36© Copyright 2011 EMC Corporation. All rights reserved. The Value of EMC Captiva Intelligent Enterprise Capture • Reduce operating costs • Reduce paper costs • Accelerate business processes • Improve information quality • Fast and measurable ROI
- 37. 37© Copyright 2011 EMC Corporation. All rights reserved. Demonstration
- 38. 38© Copyright 2011 EMC Corporation. All rights reserved. Question and Answers To type a question via WebEx, click on the Q&A tab
- 39. 39© Copyright 2011 EMC Corporation. All rights reserved. Additional Information and Contacts Paragon Solutions Contact Mike Hurley, Solutions Director Email: mhurley@consultparagon.com Phone: 773.445.0084 EMC Captiva Contact Andy Strandmark, Captiva Sales Specialist Email: andrew.strandmark@emc.com Phone: 312.208.2524
- 40. 40© Copyright 2011 EMC Corporation. All rights reserved. THANK YOUTHANK YOU