Evaluate How You Run Your. Large Capture Operation Evaluate How You Run Your Large Capture Operation

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Evangeline Chambers
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1 Information Is Your Most Important Asset. #AIIM Learn the Skills to Manage It. Evaluate How You Run Your An AIIM Webinar presented September 19, 2017 Large Capture Operation Evaluate How You Run Your Large Capture Operation Presented September 19, 2017

2 Information Is Your Most Important Asset. #AIIM Learn the Skills to Manage It. Information is your most important asset. Learn the skills to manage it.

3 Today s Speakers Thomas LaMonte Analyst AIIM Greg Council VP Marketing & Product Management Parascript Host: Theresa Resek, CIP Director AIIM

4 Introducing our Speaker Thomas LaMonte Analyst AIIM

5 The Kings and Queens of Capture : Organizations Need: Today s Competitive Advantage Long-term Competency for the Future People, Process, Technology

6 Capture Our Attention Short-term Gains: Winning the war with paper Secure, compliant data extraction/delivery Accurate, reliable data quality Operational efficiency/optimizing key workflows with automation

Business Transformation Begins with Capture What would you say are the three biggest drivers for scanning and data capture in your organization?

7 Business Transformation Begins with Capture What would you say are the three biggest drivers for scanning and data capture in your organization? 0% 20% 40% 60% Improved searchability/shareability of business Improved process productivity Reduced physical storage space Enabling anytime, anywhere content access Improved collaboration Records security and compliance Faster response to customers/citizens/staff Business continuity Enabling content analytics/big data Reduced postage/transportation and document Sustainability/environmental initiatives Building move or facility rationalization 51% feel improved searchability/ shareability is the top driver followed by improved process productivity (46%), reduced storage space (45%), anytime, anywhere content access (32%), collaboration (30%), and security/compliance (26%). 2 References: AIIM Industry Watch Report titled Paper Free 2016: Are We There Yet?

8 Put Your Best Foot Forward Long-term Results: Keep Step with the March of Tech Go Beyond OCR Learn the Language of 1s and 0s (Machine Learning ~ Processing ~ Analytics)

9 Correcting the Challenges of Traditional Data Capture Capture Problems: 1. Multiple document types 2. Ensuring data quality/accuracy 3. Poor usability 4. Modern capture demands are complex; go beyond imaging

10 When There s Never Only One Too many flavors capture complexity is a struggle OCR derived data and full-text search falls short Searchability vs findability

11 When Good Data Goes Bad Shelf Life data doesn t have a bestby-date, so what can we do? Can you verify and defend your data accuracy or quality? Bad or off data causes problems Recognition begins with context Ensuring data quality is a strategic priority

12 When Usability is an Afterthought Comprehensive to deal with everything you can throw at it (structured/unstructured, paper/digital) Configurable deep enough for capture experts and tinkerers, simple for out-of-the-box results Scales with business change

13 When Our Mindset is Trapped in the 1980s Myth: Capture is just scanning Information is everywhere and exploding: (Internet-of-things, remote devices, etc.) Capture capability must keep up with data evolution Simplify ~ Standardize ~ Automate

14 Improving Capture For the Future What are your immediate priorities to improve your current capture system(s)? 0% 10% 20% 30% 40% 50% 60% Automate more manual processes with document classification Update our capture systems with better technology Improve security and compliance Increase the speed of delivering information to the next process Consolidate multiple capture systems to one system Implement a multi-channel capture system Extend our distributed capture capabilities Implement capture to cloud Deploy a mobile capture solution Other 56% prioritize automating more manual processes with document classification 30% are focused on updating capture systems with better technology 22% improve security and compliancy 22% Increase speed of delivery 21% consolidate multiple systems References: AIIM Industry Watch Report titled Paper Free 2016: Are We There Yet?

15 The Next Step Isn t Always Clear Seek Out Help

16 Recommendations Assess your current capture systems, strategy, and partners: Position the system right at the door, defending offices from paper, and ensuring the quickest and cleanest possible conversion to digital. Don t settle for subpar accuracy and data quality of capture systems; verify actual accuracy vs what is stated. Develop a method in-house to measure and validate accuracy performance levels or demand third-party proof. Ensure that existing paper-free processes are taking advantage of data capture and integration with core enterprise systems. Also consider alternative product models such as capture as a service/third-party outsourcing to best serve your unique business requirements. Remember: If you re not sure where to turn, seek out trusted advisors in the supplier community or professional associations Defined leadership and stakeholder participation is vital Pursue quick wins and realistic goals; it s a process

17 Introducing our Featured Speaker Greg Council VP Marketing & Product Management Parascript

Research Overview Objective Discover how management ensures data quality and

requiring capture and recognition technologies for data extraction Audience

innovation Topics Covered: Data Quality and Integrity Accuracy and Operational

18 Research Overview Objective Discover how management ensures data quality and operational efficiency in document processing Industries US-based companies requiring capture and recognition technologies for data extraction Audience Operations and Finance management teams interested in digital transformation and innovation Topics Covered: Data Quality and Integrity Accuracy and Operational Efficiency Metrics Automation and What It Means for the Enterprise Path Forward for Improved Document Processing

19 101 to 500 5k to 10k 11 to 100 Information Is Your Most Important Asset. #AIIM Learn the Skills to Manage It. 1k to 5k 500 to 1K 1-10 Over 10k Number of Employees Who AIIM Surveyed Region United States Western Europe Canada Australia, New Zealand UK, Ireland Rest of the World

20 Current Capture System Ease of Configuration 38% 12% Very Difficult to Configure Somewhat Difficult to Configure Neutral Somewhat Easy to Configure Very Easy to Configure 24% 18% 8%

system Invoices Receipts Checks Remittances Application Claims Over 10

21 Different Document Types Processed Survey Shows Over 50% of enterprises process 10 or more Document Types using their Capture system Invoices Receipts Checks Remittances Application Claims Over 10 Document Types 6-10 Document Types 3-5 Document Types 1-2 Document Types 64% 16% 15% 6%

22 Percentage of Document Types Processed What is the percentage of native digital documents, scanned documents and paper documents which you typically process? 0% 100% Digital 11-50% Scanned 11-50% Paper 11-50%

Processing Digital Documents 32% 31% Same system as scanned documents, but different configuration and workflow Same system, same workflow for digital and scanned document types using document

23 Processing Digital Documents 32% 31% Same system as scanned documents, but different configuration and workflow Same system, same workflow for digital and scanned document types using document conversion to images 31% 28% Separate system from scanned documents Use of forms-based information capture and workflow 22% Digital documents are processed natively using the same rules and workflow 9% 7% Don t process digital docs Capture some digital docs 1% None

configuration and tuning 6% 44% 50% How do you measure accuracy of your Capture system?

24 Capture System Accuracy Importance of out-of-the-box accuracy when selecting capture or data extraction software Somewhat Important A factor but we control tuning Very Important We don t have staff to tune accuracy Not Important We prefer to manage configuration and tuning 6% 44% 50% How do you measure accuracy of your Capture system? Measure performance on small production run Measure performance on a few samples Other 22% 43% Rely on Capture vendor or BPO for accuracy reporting 12% No performance measurement 4% 19%

25 Who Is Responsible for Data Quality? Operations or IT Services Department Managers No Single Role is Responsible CIO or Chief Data Officer 39% 30% 22% 9%

26 Look at removing bottlenecks associated with document preparation/separation. Identify channels with common input types and consolidate via transformation. Use current manual data output as starting point to compare system output with human alternative.

and unstructured documents, handwritten and/or machine-print Rapid Implementation and Easy To Use Simple set-up with less

Learning Provides system that adapts to your increasingly complex production demands with high accuracy in dynamic

27 Why Parascript? Manage All Documents in a Single Workstream Handle all types of documents with one system: structured, semi-structured and unstructured documents, handwritten and/or machine-print Rapid Implementation and Easy To Use Simple set-up with less reliance on staff to configure rules, easily test output and tune your system Capture Powered by Advanced Machine Learning Provides system that adapts to your increasingly complex production demands with high accuracy in dynamic production environments powered by advanced machine learning Proven Quality and Reliability Currently Parascript software processes over 100 billion documents each year for financial services, government organizations and the healthcare industry

28 Thank you!

29 Resource for You Download the full research discussed today

Data Capture: How to eliminate paper- based documents to enhance people- based processes

Data Capture: How to eliminate paper- based documents to enhance people- based processes Mark Uranza Business Partner Technical Manager ReadSoft, Inc. How many documents do you receive each day? Are these