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Digital transformation the fundamental shift of business models and activities onto digital platforms requires rethinking and retooling an organization’s end to end business processes. Not just impacting internal workers, digital transformation can only occur through significant enablement of customer channels. This requires comprehensive self-service capabilities, where customers create and complete transactions without intervention from workers inside the organization.
For example, a customer initiates a property insurance claim by submitting a notice of loss via their mobile device, including photos of damage and supporting documentation, and receives an auto-adjudicated payment within minutes. Or a customer applies for a personal loan by completing an electronic application form and uploading digital versions of their proof of employment and pay advice, resulting in same day funds transfer. Key to these scenarios is automation of the internal processes and decisions, such as auto-adjudication and payment processing; plus the ability for the customer to directly capture information into the processes, including scanned paperwork, photographs, filled PDF forms, and secure PDFs from benefits, even if it’s just for incremental improvement of your business operations. In addition to customer facing processes, it can also improve any points of integration where documents paper or electronic may change hands, including with business partners and other internal departments.In spite of the push to streamline business processes and reduce paper, there are still lots of documents in our processes, both paper and electronic. As described in the scenarios above, documents contain essential data that drive business processes and enable automation, such as customer account identifiers and transaction types.
Intelligent capture enables significant efficiency impacts on business processes:
- It reduces the data entry resources required for documents provided by customers and other external parties. Even if paper is not involved, intelligent capture from electronic documents can avoid manual transcription or copy and paste activities.
- It reduces the cycle time of processes by eliminating the time required for data entry.
- It increases data accuracy over manual data entry, reducing rework and improving process quality. Adding customer self-service to this can improve internal efficiencies even more, since customers do their own data entry and scan their own documents. This can radically change staffing requirements, with internal resources now free to perform value added activities to handle complex exception cases and service customers. Data entry outsourcing or off-shoring may be completely eliminated, although scanning operations would still be required for customer submitted paper documents. Making the front end of processes more efficient and accurate through intelligent capture has performance benefits throughout the entire business process. By injecting captured data directly into business processes, it enables automated decisioning and straight through transaction processing, further reducing process cycle time and manual efforts. With intelligent capture and smarter downstream processing, entire processes that were previously outsourced become targets for rein sourcing.
The result: customers are happier with faster, more accurate processes and self-service options, driving the potential for increased revenues. Business executives are happier with more efficient and higher quality business operations, operations, which reduces costs and can improve compliance.
This is an excerpt from an Abby Software article
By Author Sandy Kemsley
To read the full article: https://promo.abbyy.com/digital-transformation-in-data-capture-download.html?aliId=33886997