Ephesoft and Nintex have complementary solutions that give you power over processes with Ephesoft being “Step One” in the power play. What happens when Smart Capture® and Workflow Excellence come together?
Setting the Stage: The Problem
Together, we are addressing the overwhelming data surge – growth at a 10X rate per year. The amount of global data is in Zetabytes, with the amount predicted to reach 163 ZB by 2025. I had to search for what that means: a zettabyte is 1,000 exabytes and that’s more zeros than I could count and all those bytes require lots of hands for data entry. In fact, companies spent $5.8B on data entry keyer jobs and that, at the core, is what digital transformation solves.
Trends
No matter where you are in your digital transformation process, we know what your expectations are, based on user experience from our customers or our constituents. Most people expect to sit in front of Netflix to pay bills or get an insurance quote or renew a license instantly.
Enterprise organizations have learned that the best way to accomplish this is by working with best-of-breed solutions, as opposed to being locked down and locked into legacy workflow and capture solutions. By working with vendors who offer OpenAPIs and low-code cloud solutions to solve the problem, companies can reap the benefits of efficiency and cost savings. The key is to reduce the need for manual processing and data entry, increasing time to value and providing insight.
We automate processes to do more with less and free up people to take on tasks that require more intelligence than rote data entry. Working together, Smart Capture and Workflow solve for this and we move closer and closer to straight through processing, where hands don’t touch the data, increasing security, accuracy and productivity, and costing less to handle.
Business Process Automation
At Ephesoft, we have a unique approach that provides access to trapped information in a way not possible before. Most industries or departments with a high volume of documents or content, such as finance, insurance, healthcare, government, AP/invoicing, mailrooms, manufacturing, logistics, have major potential to capitalize on the many benefits of automation. Smart Capture technology includes all the on-ramps: from someone loading up a scanner with a pile of disparate document types, contracts to invoices, RPA systems and others – all with the expectation of straight-through processing, no separator pages, attachments in email, mobile documents, faxes and file folders.
Smart Capture tightens everything up and gets it ready to automatically process content. The technology is smart enough to learn the difference between a contract and invoice through patented supervised machine learning tools. Then, it can automatically classify those documents, and extract the data you need. For example, you may require the customer name, identification number or invoice amount. This gives knowledge workers a chance to validate the extracted data, and then it is exported into a Nintex workflow, into a robot, ERP system, SharePoint repository or into Box – virtually any line of business system. Automated, intelligent workflow systems like Nintex offer similar benefits by streamlining business processes and offering customers a faster time to value.
Automation allows us to avoid human error, allowing employees to do higher value tasks and think about showing a hard dollar return on investment. It’s happening here and beyond – and the organizations that are utilizing smart automation technology are gaining a competitive advantage.
Are you ready to learn more? Watch the video now or contact us for a quick demo.
