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ZiaOne IAS - Invoice Automation System Featuring Extraction as a Service
 

ZiaOne IAS - Invoice Automation System Featuring Extraction as a Service

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As the vast majority of invoices are still “paper,” companies processing documents manually face a costly problem--as much as 4 times the cost per invoice over automated solutions. Manual ...

As the vast majority of invoices are still “paper,” companies processing documents manually face a costly problem--as much as 4 times the cost per invoice over automated solutions. Manual processing is error prone and lacks strategic insight into business processes. However, implementing an automated AP solution creates an opportunity for organizations seeking greater efficiency and accuracy.

According to a recent AIIM report, 70% of companies that have implemented an AP/AR Automation Solution report an "Excellent or Good" ROI.

Review this presentation for insight into our latest AP solution: ZiaOne IAS (Invoice Automation System) featuring Extraction as a Service with Zia's Pat Myers and Gi Lee.

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  • Costly = Paper costs, People costs, Missed early payment discounts, Supplier dissatisfaction
  • Accounting/ERP integration NOT replacementZia OneView for end-to-end analyticsDeliveringRapid ROIAccelerated Revenue CyclesCompliance & Reporting
  • Not provided by OEM Capture Software or Legacy Capture such as Kofax Ascent or Captiva Capture\QuickScan ProNot necessarily a cost savings but a huge leap forward in functionality.Client Server – able to upgrade Ephesoft centrally, update batch classes and has webscannerOCR Classification (Optical Character Recognition)– Many people have not considered OCR classification as solutions were too cost restrictive, save man hours organizing batches before they can be scanned (separator pages/barcodes/stacks of same document types)Free Form Extraction – Rules can be created to because of a pattern (like a social security number anywhere in the document), because of a key value pair (looking for a due date next to the like label) anywhere in the documentTable Extraction – Can get line item detail from invoicesHandwritten and Checkbox Extraction using RecostarCan be extended – if it is desired to extend the product it is available which is very difficult with desktop capture toolsNo click charges – the system can be scaled for the required volume but nothing monitoring the number of images being processedTrain – Many OCR Intelligent Recognition tools require 50 or 100 samples to train for a document type. For those that have implemented such solutions it is sometimes hard to come up with 1 or 2 samples for a given sample type and get agreement from all subject matter experts of the type. With some complex batch classes with many document types that means 10’s of thousands samples to train the system. Reduce that to hundreds of samples.No Station Charges – Again the system is scaled for the volume of images and the number of operators in the system but there are not charges for the amount of user on the systems at one time or have named stations for scanning, review or indexingNo Module Charges – Many Advanced Capture tools have add ons that can exponentially increase cost of a solution. Ephesoft comes with all the modules out of the box.Save Money – for those that are looking or have implemented an OCR based capture solution for auto classification and extraction you are aware of the cost. Depending on the configuration and modules selected an Ephesoft can save between 60-90% from competing technologiesPurchase or Subscription – there are various pricing options so you can either subscribe or purchase the software. This gives you the option to hope into a maintenance pricing model or buy for even more savingsResponsive and Receptive support – The support, much like Zia, is looking to make every customer a reference customer. They are prompt to help out and receptive to new product features.Client Server – able to upgrade Ephesoft centrally, update batch
  • To Pat for Demo

ZiaOne IAS - Invoice Automation System Featuring Extraction as a Service ZiaOne IAS - Invoice Automation System Featuring Extraction as a Service Presentation Transcript

  • ZiaOne IAS Invoice Automation System (IAS) featuring Extraction as a Service ™ Pat Myers EVP and Co-Founder Zia Consulting pat@ziaconsulting.com Gi Lee Principal Solutions Engineer Zia Consulting glee@ziaconsulting.com
  • What’s The Problem? • • • • • • Vast Majority are still “paper” invoices Current (Manual) Processes are Costly – as much as 4x the cost per invoice Error Prone Lack of Strategic Insight Problem or Opportunity? 70% report that AP/AR Automation have Excellent/Good ROI (AIIM)
  • Why is it so difficult? • • • “No two invoices are the same” Where to find – Supplier Details, PO Number, Invoice Number, Subtotal, Taxes… Previous approaches haven’t really worked (Templates / List of Variables)
  • Zia Case Study eReplacementParts The Problem: • Online Sales of Replacement Parts • Expanding Product Categories & Items • More Vendors • More Invoices / Invoice Types
  • Zia Case Study eReplacementParts The Solution: • Digitization with Fujitsu Scanners • Intelligent Capture with Ephesoft • 1/5 the cost of proprietary alternatives • Scalable platform for future growth • Integration with homegrown ERP system
  • Zia Case Study eReplacementParts The Results: • Less than 3 month project • Hundreds of hours of employee time • Improved invoicing accuracy • Reduced paper waste / physical storage
  • ZiaOne Invoice Automation System • Any Source – Email, Web Upload, Mobile Capture • Any Form – Paper, PDF, Word and more… ZiaOne Content Hub Extraction as a Service ™ Accounting/ERP Integration Zia OneView Pdf, Word, eInvoice Zia OneView • • • • Email Paper Supplier Upload Content Hub Extraction as a Service Accounting / ERP System Business Intelligence, Reporting, Compliance Systems
  • ZiaOne Content Hub • Document Repository • Supplier Portal • Email Integration • Document Capture • Electronic Document Management • Version Control, Audit Trails • Open Platform / Open Standards • Records Management
  • ZiaOne Extraction as a Service ™ • Intelligent Document Capture (IDC) technology • Classification AND Extraction without bar codes or separator pages • OCR/ICR • Bulk Processing (“Mailroom Automation”) • Individual Documents (“In Process Capture”)
  • IPC Demo
  • ZiaOne Accounting/ERP Integration • Point-to-Point • Enterprise Service Bus (ESB)
  • Zia OneView ™ End-to-End Analytics • Initiate, Validate, Track, Close • Actionable Data for Management • Business Intelligence (BI) Integration • Reporting Systems Integration • Compliance Systems Integration
  • Zia Case Study BSA The Problem: • 1,000 Employees + 1,400 Contractors • 8 Branches • Immediate Needs + Long-term Goals • Processing & Approvals
  • Zia Case Study BSA The Solution: • Scan/Email/Upload to Ephesoft for OCR Extraction • Data & Metatags Exported to Alfresco • Workflow for Review, Comments, Approval • Integration with Pronto ERP • Searchable Records based on Retention Policies
  • Zia Case Study BSA The Results: • Automation of Invoice Process • Email based workflow • ERP/ECM integration via Webscripts • Initial Rollout to 100 users in AP • Adding Additional Business Operations
  • ZiaOne IAS Questions? Pat Myers EVP and Co-Founder Zia Consulting pat@ziaconsulting.com Gi Lee Principal Solutions Engineer Zia Consulting glee@ziaconsulting.com