Dr Ido Schechter, Top Image Systems - Finance Transformation


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Dr Ido Schechter, Top Image Systems - Finance Transformation

  1. 1. Finance Transformation: Exceeding G l f R d d C & E di Goals for Reduced Cost Efficiency Dr. Dr Ido Schechter CEO, Top Image Systems
  2. 2. TIS Profile Market Leader in end‐to‐end Intelligent Document Recognition ( ) solutions to automate Document and g (IDR) Business Processes 19 years in the information management business Listed on NASDAQ since 1996 (TISA) Offices in Israel, Europe, America and Asia Pacific: – Singapore, Singapore Hong Kong, Shanghai, Japan Australia Kong Shanghai Japan, – Europe: UK, Germany, Italy, Spain, France, Benelux – America: USA & Latin America – Israel: HQ, R&D
  3. 3. Challenges: Diff Document Structures Structured Semi‐Structured Unstructured Office Docs Email Web Pages PDFs Text files Image files
  4. 4. Intelligent Document Recognition • It says “invoice” in 3 places – So it’s probably an invoice • The number “21007250” appears nearest the words “Invoice No.” – So it’s probably the invoice number • The total column figures add up – So the line items are probably right
  5. 5. How eFLOW achieve “Optimal Data Accuracy” Quality of Base OCR Data Page Level Multi-Engine Voting Field Level Engine Tuning ICR A ICR B ICR C *oshua Jo*hu* J*sh*a Voting Method Joshua
  6. 6. Easy adjustments and enhancements to the modular, transparent workflow , p Dynamic Learning Automatic Routing Input into Automatic recognition Manual Export to the the system and validation Completion ERP-System eFLOW Controller to monitor and administer the entire system Auto. Routing to Export (SAP) of invoices, where everything was recognized Learning supports ongoing increase in recognition rates g pp g g g Workflow can be flexibly expanded and changed (i.e. for other document types)
  7. 7. Accounts Payable Process Manual Invoice Approval Receive Sort Send invoice Invoice is Invoice by To the Stamped/ Invoice at Cost center, Appropriate AP Annotated/ AP dept dept. Division… Di i i representative t ti photocopied h t i d AP Rep Rep. Log/ Code C d Approve Enter Scans invoice Register Invoice Authorize Invoice Photocopy coding (header/footer/ Invoice into (by cost Payment line items) The ERP) Line center) & archive
  8. 8. The Process with eFLOW eFLOW Automated Automated Automated Receive Sort Send invoice Invoice is Invoice by To the Stamped/ Invoice at Cost center, Appropriate AP Annotated/ AP dept dept. Division… Di i i representative t ti photocopied h t i d AP Rep Rep. Log/ Code C d Approve Enter Scans invoice Register Invoice Authorize Invoice Photocopy coding (header/footer/ Invoice into (by cost Payment line items) The ERP) Line center) & archive Automated Automated Automated Automated Automated Reporting Internet Portal: Help Desk, Supplier support
  9. 9. SaaS - The Benefits Low initial costs and fast deployment lead to quicker ROI Usage based on-going costs on going Customer retains control of the business process Solid system architecture ensures system continuity and redundancy • Data transfer by secure protocol (SSL/Secure FTP) • 24/7 monitoring ensures operational continuity • Secure server bay hosted in data centre • Fire prevention measures • Managed upgrades No hardware acquisition/management costs Simple web b l b based user interface gives access f d f from anywhere h Application supported directly by the vendor Flexibility to introduce other components (Purchasing, Contract M C t t Management, F t Forms PProcessing...) i )
  10. 10. SaaS – Data Capture Outsource Provider eFLOW Hosting Environment Customer Site(s) DATA SCANNING PROCESSING DATA EXCEPTION EXPORT COMPLETION
  11. 11. S Solution Description p 12
  12. 12. Points to discuss before commencing - g Finance Transformation ROI – financial, service, HR, visibility aspects RTL – model Per click, rent, rent to own , , Person on site Knowledge base of the application Partners - SI or BPO / SAAS P Maintenance and upgrades/updates Technology Length of implementation Vision
  13. 13. C omers Case Studies Custo
  14. 14. Project requirements • Mailroom‐projects as Die Österreichische Post ist Österreichs führender Dienstleister UNIQA insurance in der Postbeförderung. Sie wurde am 3. März 1999 rechtlich • Invoice and PO Projects verselbständigt. Zu den Hauptgeschäftsbereichen der Öster‐Öster as reichischen Post AG zählen die Erbringung von Leistungen des • Linde, ABB, Telekom, Post‐ und Paketdienstes, sowie die Abwicklung von Finanz‐ Hutchison, Angst and geschäften in Kooperation mit dem langjährigen Partner Pfister BAWAG P.S.K.. Der Bereich Postautodienst wurde rückwirkend • Total volume mit 1.1.2000 abgespalten. Im Zuge einer marktadäquaten > 100 Mio pages / year Segmentierung wurden die bestehenden Geschäftsfelder Brief, Filialnetz, Infomail, Kurier.Express.Paket (KEP) und Medienpost in die Divisionen Brief, Paket & Logistik und Filialnetz , g solution l ti zusammengefasst. • TIS / BT First Enterprise Mailroom Austrian Post AG 1010 Wien www.post.at
  15. 15. A Leader in High Volume Projects India Census 2002 ……………………Over 500 million images (15 sites) British Petroleum Europe Petroleum, Europe……….… Over 400K invoices/year (2 sites) 3M, Europe …………………………… Over 1M invoices/year(Up to 8 sites) Deutsche Post, Germany……………1.2 million images/day Czech Post …………………………………1 million images/day (on going) FedEx, USA ………………………………62.5 million forms/year (on-going) Slovak Post, Slovak Rep. …………30 million images/year (on going) (on-going) Social Security Admin., USA ……55 million forms/year (on-going) Sanlam Insurance, South Africa ……7.5 million images in 90 days Brazil Census 2000 …………………330 Million forms in 100 days Vietnam Census 2009 ……………. 65 Million forms in 100 days
  16. 16. Requirements: 40 Millions docs/year HMRC (IRS) BPO of UK Tax Benefits & Claims Products: eFLOW All modules ll d l
  17. 17. an operator to open, extract, identify, prep, capture, orient, read, sort, create an audit d di trail and output mail content in one step. Batch in IEM Format Chart Legend One unstructured physical Logically L i ll groups ‘lik ’ ‘like’ S is a stub batch created for every transactions to create virtual C is a check batch. Data Import batch views. FP is full page (may or may Function not require data entry) CC is credit card application CR is correspondence I is an invoice MS SQL O is an order Database Unstructured Virtual Batch Workflow Multiple Physical Batch View Operators 1. S - C 1. S - C 2. S - C Singles 2. FP - C 3. S - S - S - C 3. S- S - S - C 5. S- C - C - C 4. 4 S-C 7. S - S - C Multiples 5. S - C - C - C 6. FP - FP- FP - C 2. FP - C 7. S - S - C 6. FP - FP - Full Page FP - C w/ Check 8. I - CC - CR 9. O - CC 8. I - CC - CR Non- 9. O - CC Financial Trans.
  18. 18. ICR Flow System Capabilities – Fast, efficient and accurate forms p ocess g ast, e c e t a d accu ate o s processing – Flexibility in building validation rules, external database validations can be incorporated with ease (e.g. zip code validation) – Ease of creation/modification of templates (logical or physical) – Easy additions of new applications in the flow – Easy implementation/modifications of business rules – Ease of data entry (option of contextual data entry) – Complete visibility and control of forms at all steps of the process – Significant reduction of error rates
  19. 19. US Social Security • Requirements: Administration • W2 W3 and M di W2, d Medicare forms • 55+ Million forms in 6 months • 30% manually captured y p Products: • eFLOW Achievments: •95%+ forms are automatically processed •Over $1.5M yearly savings
  20. 20. BMW Financial Services Case Study Requirements From individually creating • post office outsourced to XGS in Munich individually tailored leasing • complete solution for plans to providing flexible mailroom workflow financing packages and always packages, • > 400 different document classes based on expert investment • 5 mio pages/year advice, BMW Financial Services is ready to assist you with your financial needs. fi i l d TIS solution • eFLOW4 Integra/ Freedom and Smart • Located in 53 countries • Interface to ITYX mailroom e ace o a oo worldwide workflow/ Email response • In operation since 1971 Around 500K USD A d BMW Bank GmbH Heidemannstrasse 164 80788 Mü h München http://www.bmwbank.de
  21. 21. Post Preparation customers traders Mail/MediaTrix Fax Web/Pdf Workflow Contracts Applications Hier: MediaTrix Hi M di T i Archiv Komm.
  22. 22. Prozess eFlow Flow: daily mail Flow: late scanning Flow: Online Documents
  23. 23. Requirements: • Automating incoming mailroom • Over 100.000 income document • Various sources: paper, fax, XML and email • Main goal - reduce the Dutch Department of Employee processing time Benefits Products: •Smart (eFLOW3) Achievments: •Reduction of FTE’s involved in document processing by 50% •Shorter process throughput time and lower error rates •A single platform instead of g p many small solutions allows lower operational IT costs
  24. 24. Requirements: 1,000 docs/week Revenue & benefits claims ERP – Oracle Products: eFLOW Integra
  25. 25. Requirements: Process 388,000 Pages / Day , g y Automaticaly reading and checking More than 250 validations Irish Census 2006 Complex custom stations 150 clients connected to one server Up to 3000 pages/Batch Solution: • eFLOW • Finish processing 15,000,000 pages In 5 months • 50% saving in manpower in comper to 1996. 12% saving in comper to 2002
  26. 26. Saving of 25% Saving f S i of ~50% (Source: CSO – Central Statistic Office Ireland) 27
  27. 27. Requirements: 3,000 docs/day Invoice processing ERP - Oracle One site to support all Defra offices Products: eFLOW Invoice Reader
  28. 28. Requirements: 6,000 docs/week Increase to 30 000 d I 30,000 docs Various forms ERP - SAP 8 agencies across DfT Products: eFLOW Ability bl
  29. 29. Requirements: 35,000 docs/year Application f A li ti forms 1-7 page documents ERP - Oracle Products: eFLOW Integra
  30. 30. Requirements: 3.5 million docs/year Exam papers inc GCSE/A Level 43 completion stations 7,000 schools & colleges Products: eFLOW Integra
  31. 31. Requirements: 12 million docs/yr Up U to 18 million d illi docs BPO Multi doc format Numerous ERP systems Products: eFLOW Platform l f eFLOW Invoice Reader
  32. 32. • Requirements: • 2 SAP insttallations • 1 flow for both invoices 26 countries project with eFlow Ability and vendor machines contract Products: • eFLOW InvoiceReader • eFLOW Ability for SAP What next? : •Rolling out to all the countries throughout 2010
  33. 33. Thanks………… Questions, comments ? Dr. Dr Ido Schechter CEO, Top Image Systems