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The 5-Step Formula for Reducing Document Capture Costs

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Presented by Mark Brousseau, Brousseau & Associates; and Ron Rinner, ibml.

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The 5-Step Formula for Reducing Document Capture Costs

  1. 1. In associationwith: Presented by: Mark Brousseau The 5 Step Formula for Reducing Document Capture Costs PresentedJune3, 2015
  2. 2. In associationwith: Presented by: Mark Brousseau About AIIM AIIM is the Global Community of Information Professionals AIIM believes that the information systems we use at work should be simple, secure, and available anywhere, anytime, and on any device. Our mission is to improve organizational performance by empowering a community of leaders committed to information-driven innovation. Learn more at www.aiim.org
  3. 3. In associationwith: Presented by: Mark Brousseau AIIM Presents: The 5 Step Formula for Reducing Document Capture Costs Host: Theresa Resek Director AIIM Mark Brousseau President Brousseau & Associates Ron Rinner Senior Sales Engineer ibml
  4. 4. In associationwith: Presented by: Mark Brousseau Introducing our Featured Speaker Mark Brousseau President Brousseau & Associates
  5. 5. In associationwith: Presented by: Mark Brousseau Let’s kick off our webinar with a poll question…
  6. 6. In associationwith: Presented by: Mark Brousseau Why Are We Here? • Paper processes create processing challenges: – Lots of manual data entry – High paper, printing and storage costs – Inefficient processes – Customer service issues – Compliance violations – Information security vulnerabilities
  7. 7. In associationwith: Presented by: Mark Brousseau Why Are We Here? Businesses spend more than $360 billion annually to process forms.
  8. 8. In associationwith: Presented by: Mark Brousseau The High Cost of Document Capture • $20: The average filing cost per document • 1 FTE: Labor required to manage 1 filing cabinet • $125: The average cost per misfiled document • $350 to $700: The average cost per lost document
  9. 9. In associationwith: Presented by: Mark Brousseau The Challenge Will Only Get Bigger • The volume of documents and unstructured data is growing by more than 30% a year – 49% of basic business processes rely on paper documents and/or unstructured digital data – 51% of business data is stored as paper documents and/or unstructured digital data Source: Aberdeen Group
  10. 10. In associationwith: Presented by: Mark Brousseau The Challenge Will Only Get Bigger
  11. 11. In associationwith: Presented by: Mark Brousseau Capture Already Is More Complex Source: Brousseau & Associates
  12. 12. In associationwith: Presented by: Mark Brousseau Organizations Have Had Enough Primary drivers of scanning and document capture initiatives: Source: AIIM Industry Watch
  13. 13. In associationwith: Presented by: Mark Brousseau Time for our next poll question…
  14. 14. In associationwith: Presented by: Mark Brousseau THE 5 STEP FORMULA FOR REDUCING CAPTURE COSTS
  15. 15. In associationwith: Presented by: Mark Brousseau Intelligent Document Recognition
  16. 16. In associationwith: Presented by: Mark Brousseau Import/Scan Files Classify Extract Validate Export The Formula
  17. 17. In associationwith: Presented by: Mark Brousseau 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Which of the following file types are you capturing-to-process? Scannedcertificates, licences,passports, etc. Scannedforms Scannedletters PDF files Email Fax Uploadedfiles/images Photos Web forms XMLfiles Video Mobile/tabletapps SMS messages More Than Just Paper! Source: AIIM“CapturingData to MultipleBusinessProcesses –what’s holdingyou back?”
  18. 18. In associationwith: Presented by: Mark Brousseau The Problem with Multiple Delivery Channels 20% of organizations print electronic documentsand process them manually or scan them into the capture process Source: AIIM 2013
  19. 19. In associationwith: Presented by: Mark Brousseau The Problem with Multiple Delivery Channels Only 30% of organizations have integrated document scanning with other capture channels! Source: AIIM ECM Decisions 2015 Industry Watch
  20. 20. In associationwith: Presented by: Mark Brousseau centralized batch capture fax server integration ad-hoc desktop capture ad-hoc browser-based capture networked mfp capture e-mail integration Step 1: Import/Scan Files
  21. 21. In associationwith: Presented by: Mark Brousseau The Classification Challenge Lots of document types, lots of document formats.
  22. 22. In associationwith: Presented by: Mark Brousseau Eliminate Manual Sorting FULL PAGE CONTENT IMAGE ZONAL TEXT AUTOMATED DOCUMENT CLASSIFICATION Step 2: Classification
  23. 23. In associationwith: Presented by: Mark Brousseau Identify documents using: • Full Page Content • Image • Zonal Text • Learns hundreds ofdocuments within minutes and sorts them more efficiently • Can separate documents byidentifying where a document starts and ends • Allows operatorsto focus on onlythe exceptions How It Works
  24. 24. In associationwith: Presented by: Mark Brousseau Organizations Will “Do More” Classification Source: AIIM Industry Watch
  25. 25. In associationwith: Presented by: Mark Brousseau The Information Capture Challenge • Manual data entry is a critical bottleneck: – Key information is not captured – Information is not timely – Information is not accurate – Data is poorly organized – Systems are not well integrated – Decision-makers don’t have access to key variables
  26. 26. In associationwith: Presented by: Mark Brousseau Step 3: Extraction Capture data from documents to aid sorting and reduce labor costs associated with data entry. Enables touchless processing
  27. 27. In associationwith: Presented by: Mark Brousseau Loan # File # LoanAmt. 3456789101 130363017 580,000.00 Loan # File # LoanAmt. 3456789101 130363017 580,000.00 Extractsdatafrom all document types using freeform data extraction Identifies patterns and dataformatsto increase accuracy How It Works
  28. 28. In associationwith: Presented by: Mark Brousseau The Challenge of Accurate Information • The challenge: – Manual keying increases the chances of errors – Key information may be stored across multiple databases – Some business applications involve millions of records – Manually validating data is costly and uncontrolled – Validation errors create costly downstream errors
  29. 29. In associationwith: Presented by: Mark Brousseau Step 4: Validate invoice date 6/17/2012 account number 2-1006-475-1 reference code 22177991 service code 954381 amount 29.34 due date 7/7/2012 Databases and table lookupscan be used to validate data.
  30. 30. In associationwith: Presented by: Mark Brousseau 0% 10% 20% 30% 40% 50% Oncecaptured(from paper or electronic),whereareyour documentsrouted? Records/imagingsystem/archive To email,file share,etc., on an ad-hoc basis ECM/DM system(withworkflow) ECM/DM system(no workflow) SharePoint Line of Businesssystem Financial HR system ERP DedicatedBPM system CRM/Helpdesk None of these Downstream Systems Rely on Captured Data Source: “Capturing Data to MultipleBusiness Processes –what’s holding you back?” -- AIIM2011
  31. 31. In associationwith: Presented by: Mark Brousseau The Challenge of Delivering Information • Slow delivery of information downstream results in: – Higher labor costs – Poor business agility – Customer complaints – Slow inventory turns/higher DSO – Late payments/penalties/fines – Potential security breaches – Compliance violations
  32. 32. In associationwith: Presented by: Mark Brousseau Step 5: Export invoice date 6/17/2008 account number 2-1006-475-1 reference code 22177991 service code 954381 amount 29.34 due date 7/7/2008 Export to ECM, ERP, or any other business application.
  33. 33. In associationwith: Presented by: Mark Brousseau • Reduced document preparation • Automated sorting • Less manual keying • Fewer errors • Faster cycle times • Accelerated delivery of information to downstream systems • Enhanced customer service • Improved document control, tracking and reporting The Results
  34. 34. In associationwith: Presented by: Mark Brousseau Another poll question for you…
  35. 35. In associationwith: Presented by: Mark Brousseau The Results Most companies achieve ROI on scanning and document capture investmentsin 12 months or less. Source: AIIM Industry Watch
  36. 36. In associationwith: Presented by: Mark Brousseau The Results Scanning & capture improves customer responsiveness2X – 3X Source: AIIM Industry Watch
  37. 37. In associationwith: Presented by: Mark Brousseau CASE STUDIES
  38. 38. In associationwith: Presented by: Mark Brousseau Lending The Industry Retail Banking The Customer Regional communitybank The Challenge Reduce the cycle time and labor costs of closingmortgage loans. The Pain Points Slow and costly manual separation and handlingof400-500 page batches. Mix of incomingpaper and digital documents. Desired Outcome 1. Reduce loan closingtimes by 25%. 2. Scale processingvolumes without addingadditional workers or software. The Solution Automaticclassification and separation ofindividual documents in a 400- 500 page batch and route the right ones to the right person or workflow step.
  39. 39. In associationwith: Presented by: Mark Brousseau Healthcare The Industry Healthcare The Customer Largest non-profit healthcareorganizationinthe Southwest U.S. The Challenge Reduce turnaroundtime for scanningof patient records to improve patient care, accelerate billing, andmanage growingpatient records volumes. The Pain Points Slow availability of patient records delayedcoding(stretchingDSO)and resultedin a deluge of calls fromhealthworkers andpatients regardingtheir status. Desired Outcome Speed availability of patient records,while makingthe process more efficient to allow for the consolidationofscanningoperations andsupport higher volumes. The Solution Intelligent scanningplatformintegratedwithlegacy capture andECMsolutions. The Results 1. ImprovedDSO 2. Reduce records scanningturnaroundtime fromseveral days to four hours 3. Increase efficiency andallow for reassignment of 50% ofrecords staff 4. Save $5,000 a monthin paper by out-sortingbatchseparator sheets
  40. 40. In associationwith: Presented by: Mark Brousseau The Industry State Government The Customer State GovernmentAgency The Challenge Having sufficient scanning horsepower to handle the quarterly peaks in volume The PainPoints 1. Legacy scanners brokedown frequently 2. Inconsistentauto-feeder on scanners resulted in downstreamexceptions 3. Manual sorting of scanned checks DesiredOutcome 1. Speed processing turnaround by automatically out-sorting checks 2. Accelerate delivery of information to downstreamapplications through interfaces with multiple integrators The Solution 1. Co-mingled processing of full-page documents with checks 2. Automated out-sorting of scanned checks 3. 1D barcodereading 4. Audit trail that ties debits and credits together State Government
  41. 41. In associationwith: Presented by: Mark Brousseau Property Management The Industry Real Estate The Customer Property management company providing affordablehousing to UK families The Challenge 30 million pages of housing files, stored in file cabinets and boxes that are distributed across 750 localoffices The PainPoints 1. Slow access to files 2. Physicalstoragespaceand costs 3. Time-consuming records management DesiredOutcome Affordably digitizeand index 30 million paper documents and implement day- forward filing to storethem in an ECM systemwherethey can be centrally managed and retrieved at a moment’s notice. The Solution Phase1: transformscanned images into full-text output to an XML format Phase2: digital mailroom with invoice scanning applications
  42. 42. In associationwith: Presented by: Mark Brousseau ibml ibml provides intelligent information capture solutions that drive business process improvements.Combining intelligent scanners, software and services, ibml’s comprehensive solutions automate the most demanding document applications in banking, financial services, healthcare, government services, outsourcing and more. Every day, ibml customers in 45 countries rely on our technologyto accurately and efficiently capture and process millions of documents. Learn more at www.ibml.com
  43. 43. In associationwith: Presented by: Mark Brousseau SoftTrac Synergetics 5 Reasons to Consider SynergeticsIDR 1. 100%thin client-no need to install software on workstationsandsupports the 4 majorbrowsers; InternetExplorer, Firefox,Chrome and Safari 2. Bundled features-Nothingto add in terms of additional forms functionality.All major forms processingcapabilities that you would expect in an enterprise solution are provided 3. Simplifiedpricingmodel-No click chargesand no additional costsfor scan seats, validation,or administrationseats 4. Easy to learn and configure-.Advancedfull page contentclassificationand separationtechnology can be set up with as little as one sample of each document type 5. An End-to End AdvancedCaptureSolution- SoftTracCaptureSuite now containsall the functionalityneeded to scan and export to Document Management,ERP, Workflow, Archiving and other downstreamsystems.Tools to monitor and assess the entire capture processalso exist
  44. 44. In associationwith: Presented by: Mark Brousseau QUESTIONS?
  45. 45. In associationwith: Presented by: Mark Brousseau AIIM Resources www.aiim.org/research Download AIIM Studies
  46. 46. aiim.org/training • EnterpriseContent Management Improve customer and staff engagement, ensure compliance, and automate business processes. • Business ProcessManagement Map, design, and automate operational processes for your organization using a combination of strategies, change management, and technologies. • Taxonomy & Metadata Optimize navigation, findability, and information discovery through content classification. • InformationGovernance Create an information accountability framework that reduces costs, manages risk, and optimizes value. • Managing Records& eDiscovery with SharePoint 2013 Manage records, ensure compliance, and prepare for civil litigation requests. • Electronic RecordsManagement Know what to keep and what to discard as volume, variety, and velocity of digital information intensifies. AIIM Training
  47. 47. In associationwith: Presented by: Mark Brousseau Connect with AIIM As the Global Community for Information Professionals, join us here • AIIM’s Resource Centers – www.aiim.org/resource-centers • AIIM's Blogging Community – http://community.aiim.org • LinkedIn Group – www.linkedin.com/groups/AIIM-Global-Community-Information-Professionals-3698 • Twitter – www.aiim.org/Connect/Twitter • Facebook – www.facebook.com/aiimcommunity • Digital Landfill – http://info.aiim.org/digital-landfill
  48. 48. In associationwith: Presented by: Mark Brousseau  Enterprise Content Management (ECM)  Business Process Management (BPM)  Capture & Scanning  Collaboration  Content Analytics  Electronic Records Management (ERM)  Information Governance  Search  SharePoint  Taxonomy & Metadata  Web Content Management Access Industry Tutorials, Research, Webinars, and Expert Advice Blogs – all in one place Visit aiim.org/resource-centers AIIM Resource Centers
  49. 49. In associationwith: Presented by: Mark Brousseau
  50. 50. In associationwith: Presented by: Mark Brousseau Survey and Feedback To take our Survey, click on the link in the Resources tab at the bottom of your screen. Tell us how we did today, and offer suggestions for topics of future events.
  51. 51. In associationwith: Presented by: Mark Brousseau Upcoming Webinars June 17th Convergence of Mobile Capture and Case Management: capture it, process it, and get work done! June 24th Consumerization of IT: when productivity trumps control Register Today at www.aiim.org/webinars View our library of Webinars On Demand www.aiim.org/WebinarsOnDemand

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