Connect with us

Featured

Tame the cost of paper

Published

on

Organisations like insurers, healthcare companies and government agencies still depend on paper forms and documents for many of their business processes as they are constrained by regulations, budget and legacy systems, says MALCOLM HART, CTO at i1 Solutions.

Paper-based processes are slow, expensive and introduce scope for human error. They also damage customer satisfaction and tie up corporate resources that could be deployed to areas of the business that add more strategic value. To address these challenges, South African businesses are starting to look towards distributed document capture solutions.

These solutions enable companies to capture documents anywhere, digitise them immediately and eliminate the inefficiencies of moving paper. They streamline the capture, recognition, and classification of business documents and to quickly and accurately extract important information from those documents for use by business users and in applications.

Using distributed data capture, organisations can capture documents where data enters an organisation, for example at point where a field technician gets the customers sign off on a job or where a salesperson closes a contract with a customer.

Thus, rather than relying on centralised scanning operations, leading companies are taking advantage of the latest solutions that turn MFDs, mobile devices, and network and personal scanners into secure, easy-to-use capture workstations.

Key functionality of a distributed data capture solution

A good distributed data capture solution will improve efficiency by automating three key areas:

Classification: The software should streamline document preparation tasks, such as manual sorting of documents into classes before scanning. It will enable users to scan a stack of mixed documents that will be automatically sorted.

Data extraction: It must also be able to extract information from unstructured documents dynamically, or use templates for forms-based documents—eliminating wasteful, error-prone manual data entry.

Validation: Finally, it should also provide multiple methods to automatically check captured data to verify accuracy.

Solutions like IBM’s Datacap use advanced cognitive computing technology to streamline management of documents. Using natural language processing, text analytics and machine learning technologies, these solutions automatically identify, classify and extract content from unstructured or highly variable documents that usually require manual intervention.  This can help significantly reduce labour and paper costs.

Benefits of distributed data capture

In a distributed data capture environment, employees and customers can perform capture tasks with easy-to-use interfaces on familiar devices. For example, new customer on-boarding or new loan applications can be concluded inside a mobile app rather than the paperwork going to a data capture hub.

As a result, important documents and data are fed into business processes and analytics systems quickly and accurately. Pre-configured workflows can be used to automate processing. This, in turn, reduces costs while enhancing the business’s agility and efficiency.

Distributed data also help reduce expenses by eliminating document shipping, paper handling and storage as well as decreasing manual data entry and the costs of indexing errors that cause lost or misrouted documents.

It also provides a dependable audit trail of who has captured the documents. Another potential benefit lies in better customer service. Customer-facing employees can process information quicker and more accurately, as well as easily access information electronically to answer customer inquiries.

For South African organisations, distributed document capture can deliver rapid return on investment by boosting customer satisfaction, easing compliance and improving efficiencies. It is a technology that addresses one of the biggest challenges organisations face: taming the costs of paper and accelerating business processes to the pace of a digital world.

Featured

IoT at starting gate

South Africa is already past the Internet of Things (IoT) hype cycle and well into the mainstream, writes MARK WALKER, associate vice president of Sub-Saharan Africa at International Data Corporation (IDC).

Published

on

Projects and pilots are already becoming a commercial reality, tying neatly into the 2017 IDC prediction that 2018 would be the year when the local market took IoT mainstream. Over the next 12-18 months, it is anticipated that IoT implementations will continue to rise in both scope and popularity. Already 23% are in full deployment with 39% in the pilot phase. The value of IoT has been systematically proven and yet its reputation remains tenuous – more than 5% of companies are reluctant to put their money where the trend is – thanks to the shifting sands of IoT perception and success rate.

There are several reasons behind why IoT implementations are failing. The biggest is that organisations don’t know where to start. They know that IoT is something they can harness today and that it can be used to shift outdated modalities and operations. They are aware of the benefits and the case studies. What they don’t know is how to apply this knowledge to their own journey so their IoT story isn’t one of overbearing complexity and rising costs.

Another stumbling block is perception. Yes, there is the futuristic potential with the talking fridge and intelligent desk, but this is not where the real value lies. Organisations are overlooking the challenges that can be solved by realistic IoT, the banal and the boring solutions that leverage systems to deliver on business priorities. IoT’s potential sits within its ability to get the best out of assets and production efficiencies, solving problems in automation, security, and environment.

In addition to this, there is a lack of clarity around return on investment, uncertainty around the benefits, a lack of executive leadership, and concerns around security and the complexities of regulation.  Because IoT is an emerging technology there remains a limited awareness of the true extent of its value proposition and yet 66% of organisations are confident that this value exists.

This percentage poses both a problem and opportunity. On one hand, it showcases the local shift in thinking towards IoT as a technology worth investing into. On the other hand, many companies are seeing the competition invest and leaping blindly in the wrong direction. Stop. IoT is not the same for every business.

It is essential that every company makes its own case for IoT based on its needs and outcomes. Does agriculture have the same challenges as mining? Does one mining company have the same challenges as another? The answer is no. Organisations that want their IoT investment to succeed must reject the idea that they can pick up where another has left off. IoT must be relevant to the business outcome that it needs to achieve. While some use cases may apply to most industries based on specific circumstances, there are different realities and priorities that will demand a different approach and starting point.

Ask – what is the business problem right now and how can technology be leveraged to resolve it?

In the agriculture space, there is a need to improve crop yields and livestock management, improve farm productivity and implement environmental monitoring. In the construction and mining industry, safety and emergency response are a priority alongside workforce and production management. Education shifts the lens towards improving delivery and quality of education, access to advanced learning methods and reducing the costs of learning.  Smart cities want to improve traffic and efficiently deliver public services and healthcare is focusing on wellness, reducing hospital admissions and the security of assets and inventory management.

The technology and solutions selected must speak to these specific challenges.

If there are no insights used to create an IoT solution, it’s the equivalent of having the fastest Ferrari on Rivonia Road in peak traffic. It makes a fantastic noise, but it isn’t going to move any faster than the broken-down sedan in the next lane. Everyone will be impressed with the Ferrari, but the amount of power and the size of the investment mean nothing. It’s in the wrong place.

What differentiates the IoT successes is how a company leverages data to deliver meaningful value-added predictions and actions for personalised efficiencies, convenience, and improved industry processes. To move forward the organisation needs to focus on the business outcomes and not just the technology. They need to localise and adapt by applying context to the problem that’s being solved and explore innovation through partnerships and experimentation.

Continue Reading

Featured

ERP underpins food tracking

The food traceability market is expected to reach almost $20 billion by 2022 as increased consumer awareness, strict governance requirements, and advances in technology are resulting in growing standardisation of the segment, says STUART SCANLON, managing director of epic ERP

Published

on

Just like any data-driven environment, one of the biggest enablers of this is integrated enterprise resource planning (ERP) solutions.

As the name suggests, traceability is the ability to track something through all stages of production, processing, and distribution. When it comes to the food industry, traceability must also enable stakeholders to identify the source of all food inputs that can include anything from raw materials, additives, ingredients, and packaging.

Considering the wealth of data that all these facets generate, it is hardly surprising that systems and processes need to be put in place to manage, analyse, and provide actionable insights. With traceability enabling corrective measures to be taken (think product recalls), having an efficient system is often the difference between life or death when it comes to public health risks.

Expansive solutions

Sceptics argue that traceability simply requires an extensive data warehouse to be done correctly, the reality is quite different. Yes, there are standard data records to be managed, but the real value lies in how all these components are tied together.

ERP provides the digital glue to enable this. With each stakeholder audience requiring different aspects of traceability (and compliance), it is essential for the producer, distributor, and every other organisation in the supply chain, to manage this effectively in a standardised manner.

With so many different companies involved in the food cycle, many using their own, proprietary systems, just consider the complexity of trying to manage traceability. Organisations must not only contend with local challenges, but global ones as well as the import and export of food are big business drivers.

So, even though traceability is vital to keep track of everything in this complex cycle, it is also imperative to monitor the ingredients and factories where items are produced. Having expansive solutions that must track the entire process from ‘cradle to grave’ is an imperative. Not only is this vital from a safety perspective, but from cost and reputational management aspects as well. Just think of the recent listeriosis issue in South Africa and the impact it has had on all parties in that supply chain.

Efficiency improvements

Thanks to the increasing digital transformation efforts by companies in the food industry, traceability becomes a more effective process. It is no longer a case of using on-premise solutions that can be compromised but having hosted ones that provide more effective fail-safes.

In a market segment that requires strict compliance and regulatory requirements to be met, cloud-based solutions can provide everyone in the supply chain with a more secure (and tamper-resistant) solution than many of the legacy approaches of old.

This is not to say ERP requires the one or the other. Instead, there needs to be a transition provided between the two scenarios that empowers those in the food supply chain to maximise the insights (and benefits) derived from traceability.

Now, more than ever, traceability is a business priority. Having the correct foundation through effective ERP is essential if a business can manage its growth and meet legislative requirements into the future.

Continue Reading

Trending

Copyright © 2018 World Wide Worx