How to Manage Your Documents: Visual Case Study


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Managing documents can be difficult. But with Kofax's capture solution, you can align all your documents in one place. See how one company used Kofax & NeoStream's proven technologies to organize and streamline their document management process to cut costs and cut time.

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How to Manage Your Documents: Visual Case Study

  1. 1. Transforming the way paper documents are captured Case Study: Kofax Transformation Modules in the energy industry
  2. 2. Is this content right for you? VP of Corporate Services You want your people to feel connected to the organization and to the information in the company. General & administrative expenses are under the microscope and inefficiencies are both costly and negatively impact team member morale. You want to preserve and leverage company knowledge and promote compliance with stated company processes. this slideshare
  3. 3. Agenda Rising to the Challenge Problem Solution Kofax Why this solution? Learnings Support Contact
  4. 4. Rising to the challenge Keeping all corporate documents in one place is difficult, not to mention time consuming. Combining data, organizing documents and controlling work processes is not only hard, but it’s several people’s full-time jobs. ][See how others have rose to the challenge of finding a solution that works to streamline their document management processes.
  5. 5. Problem NeoStream’s client had invested in an electronic invoicing solution and was pleased to have 80% of their invoices arriving through this system. However, with 20% of their invoices still arriving in paper form; the company had a problem. They had two different invoice approval processes – one for paper, one for electronic. This was costly and inefficient. People were confused and a detail audit of both processes were required each year (adding more cost and time to the audit process). They needed to amalgamate these two distinct processes into one streamlined process. 80%of invoices arriving through electronic system 20% of invoices arriving through paper form
  6. 6. Solution NeoStream installed its energy industry invoicing solution utilizing Kofax Transformation Modules (KTM). This solution enabled the company to:  Scan paper invoices and load the documents into the electronic payables solution without the need for manual indexing.  Have all invoices and scanned documents deposited in one single document management solution.  View the invoice image in the accounting system and other critical areas.
  7. 7. Kofax Transformation Modules (KTM) is the most intelligent document scanning tool on the market today. Using KTM, energy companies can scan and index any kind of paper document and cost effectively file them into their document management / workflow solution.  KTM automatically separate documents.  KTM mechanically recognizes the type of document being scanned (invoice, work ticket, contract etc.).  KTM automatically extracts all index information from the document. Kofax
  8. 8. This solution not only auto-extracts elements of documents to reduce time and frustration for the client, but it also allows for only one audit trail to be maintained. This way, it was easy for everyone in the company to know exactly where every document and invoice was in the process and know where to find what they were looking for. Why this solution?
  9. 9. Building a solution for the ‘last 20%’ of the company’s suppliers was difficult, given that most of them were infrequent billers. Without the powerful learning engine of KTM, the extraction error rates would have been too high to rely on the system. A key learning was the importance of continuing to ‘train’ the system (in real time) as invoices where extraction rates are less than optimal appear. With time, the system continued to get more and more accurate. Learnings
  10. 10. NeoStream anticipated the client’s document management challenge and trained all Scan Operators on how to train the learning engine (for any invoices where extraction corrections needed to be made). This simply became part of the scan process. NeoStream’s Support
  11. 11. Contact us Suite 600 – 800 6th Ave Calgary, Alberta T2P 3G3 Canada (403) 444-5656 NeoStream is focused on providing solutions to the energy industry. This means we understand the information, the processes, the communication patterns and the roles within an energy company. By working with a company who has experience with energy industry information, companies save time, money and avoid technical obstacles. request a demo contact us check the blog