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4 Ways Intelligent CaptureSupports Corporate Initiatives
Why Are We Here?
Businesses spend more than $360 billion annually to process forms.
Growing Problem
Source: Brousseau & Associates
No Let-Up in Sight
Source: Brousseau & Associates
What’s Driving Complexity?
• For starters …
Source: Brousseau & Associates
Multiple Delivery Channels
20% of organizations print electronic documents and process them manually or scan them into the capture process
Only 30% of organizations have integrated document scanning with other capture channels!
Multiple Delivery Channels
Source: Brousseau & Associates
Lots of document types, lots of document formats.
More Document Types
• 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
Manual Data Entry
• Manual keying increases the chances of errors• Information may be stored across multiple systems• Some business applications involve millions of records• Manually validating data is costly and uncontrolled• Validation errors create costly downstream errors
Errors & Exceptions
• 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
Information Bottlenecks
federal, state and industry laws, standards and regulations that dictate how long to keep paper and electronic records
Source: Cadence Group
Regulation & Risk
The Solution
Import/Scan Files Classify Extract Validate Export
Intelligent Data Capture supports corporate initiatives:
1. Eliminates inefficient and costly manual processes2. Accelerates delivery of usable information downstream3. Provides better insights into enterprise content4. Enhances security, compliance and control
The Benefits
Most companies achieve ROI on scanning and document capture investments in 12 months or less.
The Benefits
Source: AIIM Industry Watch
The Benefits
Scanning & capture improves customer responsiveness 2X – 3X
Source: AIIM Industry Watch
Lending
The Industry Retail Banking
The Customer Regional community bank
The Challenge Reduce the cycle time and labor costs of closing mortgage loans.
The Pain Points Slow and costly manual separation and handling of 400-500 page batches. Mix of incoming paper and digital documents.
Desired Outcome 1. Reduce loan closing times by 25%. 2. Scale processing volumes without adding additional workers or software.
The Solution Automatic classification and separation of individual documents in a 400-500 page batch and route the right ones to the right person or workflow step.
Lending
The Industry Retail Banking
The Customer Regional community bank
The Challenge Reduce the cycle time and labor costs of closing mortgage loans.
The Pain Points Slow and costly manual separation and handling of 400-500 page batches. Mix of incoming paper and digital documents.
Desired Outcome 1. Reduce loan closing times by 25%. 2. Scale processing volumes without adding additional workers or software.
The Solution Automatic classification and separation of individual documents in a 400-500 page batch and route the right ones to the right person or workflow step.
Financial Services
The Industry Financial Services - Secondary Market
The Customer Secondary Automotive Loan organization with a 35 state footprint
The Challenge Improve image quality, accuracy of loan packages and speed to long-term repository
The Pain Points Manual process was slow, bottlenecked expansion, and additional headcount was necessary to grow business
Desired Outcome • Automate the scanning and classification of car loans to improve efficiencies and accuracy
• Same solution across 35+ states with easy learning of variations
The Solution • Classify documents upon receipt in organization• Validate that a package is complete, or not complete
Healthcare
The Industry Healthcare
The Customer Largest non-profit healthcare organization in the Southwest U.S.
The Challenge Reduce turnaround time for scanning of patient records to improve patient care, accelerate billing, and manage growing patient records volumes.
The Pain Points Slow availability of patient records delayed coding (stretching DSO) and resulted in a deluge of calls from health workers and patients regarding their status.
Desired Outcome Speed availability of patient records, while making the process more efficient to allow for the consolidation of scanning operations and support higher volumes.
The Solution Intelligent scanning platform integrated with legacy capture and ECM solutions.
The Results 1. Improved DSO2.Reduce records scanning turnaround time from several days to four hours3. Increase efficiency and allow for reassignment of 50% of records staff4.Save $5,000 a month in paper by out-sorting batch separator sheets
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 48 countries rely on our technology to accurately and efficiently capture and
process millions of documents.
Learn more at www.ibml.com
ibml
+Leading
edge advanced
classification engine
ImageTrac superior speed,
image quality and data
=Highest
Velocity & Best
Accuracy
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