Reading, interpreting and categorizing every single incoming document and email is not a very satisfying task. What if you could skip this labor-intensive process? What if you could even skip the part of entering all data these documents contain in other systems and focus on more valuable tasks, like complex interpretation and decision making?
Keep on reading to discover how automating this whole cycle would improve your employees’ happiness.
Did you notice how the previous paragraph said “Keep on reading to discover…”? It is ironic because that is exactly the opposite what we want you to do. If this would be a document full of data that you would need to extract yourself, you would be wasting your time. Luckily, it is just a blog post, so feel free to keep on reading.
Lots of people these days are still wasting time on manually handling every single incoming document. Data found in these documents is being entered into an ERP or CRM system by typing over emails or PDF attachments. In some cases, this process only contains a couple of documents per day. However, in most cases, especially in big enterprise companies, this process contains thousands of documents per day. Processing the latter is a mind-numbing and time-consuming task which should not be at the core of your day.
“Billions of USD are still being spent yearly on manual data entry, restructuring, and validation.”
Until recently, there were only classic templated based or keyword-matching solutions. These solutions use OCR and fixed rules to process (semi) structured docs. Unfortunately, more than 80% of all enterprise data worldwide is unstructured. Until now people had to process these complex documents manually.
Since the introduction of IDP, it is also possible to automatically process these semi- and unstructured documents.
This is where Artificial Intelligence comes in.
“Since 2013, the number of jobs that use AI has increased by 450%”Memory.ai
Information and documents change all the time, so the software solution you are using should be able to learn and adapt with it. An Intelligent Document Processing solution does this by extracting the right information and making sense of a wide variety of documents on its own.
These evolutions have a huge potential of being very beneficial for organizations worldwide. However, they must come with clear goals and directions in order to take advantage of the full potential of automation.
Making sure employees are satisfied with their daily tasks is a crucial element for every organization. The most important step is to fix what makes them unhappy. Research shows that monotone work is one of the biggest reasons employees get tired of their job. Fixing what makes people unhappy sounds way more complicated than it is. The application of Intelligent Document Processing is actually a very straightforward first step in this process.
“Employees are focusing on high-value work thanks to automation in 39% of enterprises worldwide”Automation as a Force for Good – 6 Steps to Transform Theory into Practice, IDC White Paper)
Being able to focus on more high-value tasks, results in people:
Humans need AI but AI needs humans as well. Even after implementing the most accurate model, there will still be human actions needed in order to succeed as an organization, the following describes some examples:
Artificial Intelligence is being implemented in all sorts of sectors all over the world. However, there is no reason at all to fear that machines, robots, or some sort of software will force companies to replace human employees. Companies that implement AI solutions to automate their processes only to cut jobs, might see a very short-term increase in productivity, but will collapse in the future.
As described above, AI and humans need each other. Research shows that the biggest performance improvements come when AI and humans work together, making use of each other’s capabilities and strengths. Human skills such as creativity, empathy, and collaboration work complementary with the ability of AI to process immense amounts of data and documents.
However, when your organization is going through this process of digital transformation, it is crucial to do this with clear principles. Whenever your organization is implementing an AI or IDP solution, make sure to take in account the following basic principles:
Based on (Automation as a Force for Good – 6 Steps to Transform Theory into Practice, IDC White Paper)
Companies that do not use AI are at risk of becoming obsolete. Using AI to automate your document processing is a great first step in the right direction. Automating this tedious flow will decrease the amount of monotone work that has to be done by humans.
Do not be fooled, you still need your people to use their more valuable strengths that a machine or software does not have. This is the way to go in order to increase productivity, but most importantly, the happiness of the people within your team.
Curious how Metamaze works and what it can mean for your enterprise?