Decrease Unnecessary Spending

Decrease Unnecessary Spending With Enterprise Content Management and Automation

Decrease Unnecessary Spending

Staying competitive is a challenge for every business in today’s business climate. Innovation is at an all-time high, and if you fail to keep up with the trends sweeping your industry, you could find yourself at a significant disadvantage. Fortunately, there are two ways to increase your bottom line:

  1. Generate More Revenue: This can be a challenge. Creating new pipeline typically requires a heavy input of company resources.  You need to invest in training salespeople, marketing your product or services, and closing deals at a rate that supports your expenses.
  2. Decrease Unnecessary Spending: On the other hand, you can eliminate (or at the very least reduce) the types of unnecessary expenses that most businesses are completely unaware of. By doing so, you can free up capital to spend how you see fit or save for a rainy day.

In this article, Enterprise Content Management (ECM) and Automation experts at IntelliChief will cover the types of unprecedented cost savings that can be achieved when your company is running at peak efficiency.

Say Goodbye (and Good Riddance) to Paper

Paper and its related expenses are one of the biggest spending items for a company. Enterprise Content Management greatly decreases costs due to printing, faxing, storing, and otherwise using paper for all types of business transactions.

Replace Costly Physical Storage With Consolidated Digital Storage

Storage is an expense many companies incur for keeping paper documents. If a manual system requires the retention of paper documents, such as accounting records, for a certain number of years, the cost of doing business can rise sharply. These expenses only grow as more physical storage is required, as does the cost of retrieving these documents. ECM eliminates costly storage and consolidates all documents within your Enterprise Resource Planning (ERP) system with everything available at the press of a key.

Improve Working Conditions for Your Valued Employees

Labor is one of the largest expenses in most companies. Making copies, manually routing documents, and hunting for lost paper items is time-consuming, inefficient, and repetitive. Companies that can pass of menial tasks to automation tend to have happier employees. These employees are empowered by the use of electronic tools to search for information and complete customer service tasks with ease. Documents move through an electronic workflow system so employees make decisions quickly. Losing information is no longer a costly problem. Employees can collaborate to resolve problems and issues directly from their PC or mobile devices, in any location, working together at the same time for speedy resolution.

Bolster Confidence Among Your Customers

With a manual system, companies need to keep constant track of purchase orders, requisitions, orders, and invoices. Not only is it time-consuming but it also leads to important items falling through the cracks. ECM and Automation improve customer relations because it shortens the time to find information, produces invoices faster, and keeps employees updated for faster turnaround with vendors and customers. It frees up employees to go where they are needed, rather than continuously handling paper to get business done.

You can still receive Purchase Orders, Requisitions, and Orders how yo always have, whether it is a fax, postal mail, email, or Web; however, once these documents enter your system, they will be accessible on-demand whenever and wherever they are required.

Overhaul Accounts Payable for Immense Savings

With Enterprise Content Management, any authorized employee can gain immediate access to all Accounts Payable documents – purchase orders, acknowledgments, receiving documents, invoices, and checks.

A major advantage of using ECM is avoiding lost or missing documents and the costs incurred with a lost document — costing an average of $500 per document to replace. Other major savings by going paperless with Accounts Payable documents include lower costs for printing, postage, faxing, special delivery, and storage.

Electronically managing the Accounts Payable has many benefits:

  • Saving money by taking better advantage of vendor discounts
  • Saving money by using less equipment, furniture, and supplies
  • Saving money and time with immediate access to all Accounts Payable documents
  • Saving time with faster research, better organization, cross filing and matching documents
  • Saving time for employees because of higher accuracy, avoiding manual keying errors, and
  • Utilizing Optical Character Recognition (OCR) for quick, accurate search and retrieval of electronic documents

It’s also worth noting that these benefits are largely transferrable to other departments, including Accounts Receivable, Order Entry, and more.

Superior Compliance and Security…Simplified

Regulatory compliance for Sarbanes-Oxley and HIPAA requires strong security and specific legal mandates for companies. They have to consider external government regulations and internal security policies as a critical part of doing business. With paperless process management, time limits for retaining documents are easily established. When documents are no longer needed, they can easily be purged according to strict time controls to limit any liability issues.

An Enterprise Content Management system provides security against unauthorized access as well as the accidental or deliberate loss of records. Documents are automatically stored according to company-designed rules and regulations.

Stay Safe With Industry-Leading Disaster Recovery Services

The Gartner Group concludes that two out of five organizations that experience a disaster go out of business within five years. The principal reason: loss of documentation critical to a businesses’ daily function. A paperless process management solution has built-in backup and recovery capabilities in the event of a disaster.

All business processes can be integrated into a Disaster Recovery Plan with paperless process management. All documents can be retrieved as needed from any location.

Want to learn more about decreasing unnecessary expenditures with ECM and automation? Contact IntelliChief today.

Hard and Soft Dollar Savings of Automation

The Hard and Soft Dollar Savings of Automation

Hard and Soft Dollar Savings of Automation

In theory, making a case to automate your company shouldn’t require much justification at all. Businesses that automate are faster, leaner, and less susceptible to interruptions. Not only do they benefit by pleasing their customers and employees alike but they also save critical dollars that can be used to future-proof their businesses for years to come.  If your main goal is to cut costs and gain a competitive advantage over other businesses in your industry, automation is the answer —and the hard and soft dollar savings ensure that your project generates the ROI you’ve been promised by your vendor.

Hard Dollar Savings

The first category is the hard dollar savings or increased revenue in the operating budget. Hard dollar savings are usually the result of having tangible and identifiable reductions in expenses. These savings include:

Lower Business Operating Costs

Automation drives down business costs by:

  • Substituting electronic repositories for filing cabinets to eliminate long-term storage space
  • Using workflow automation to easily manage high volumes of orders, receiving documents, and invoices
  • Scanning, classifying, recognizing, validating, verifying and exporting data/images quickly, accurately, cost-effectively
  • Providing built-in tools to help avoid late payment penalties, and capture higher percentages of discounts
  • Reducing mailing, postage and shipping costs associated with document delivery, to and from customers or vendors
  • Cutting labor expenses – slashing time for printing, copying, filing, and document research using unsearchable paper
  • Lowering equipment expenses by reducing the need for printers and fax machines, and added maintenance cost

Better Utilization of Personnel

Another benefit of automation is the elimination of menial tasks. Employee productivity increases because they no longer must make copies of documents or look for lost or misplaced files.

It also reduces the need for employees to manually send documents to supervisors to approve expenses and purchase orders. Using automated workflow routing of documents eliminates management time and expenses to manually move documents from one department to the next. They can complete tasks right from their desktop.

Increased Cash Flow

It can also automatically prompt users to take advantage of vendor discounts, and to invoice earlier, faster, and more efficiently. The result is increased cash flow, which allows your company to invest capital in the things that matter most.

Soft Dollar Savings

The second type of cost justification revolves around soft dollar or intangible savings. Benefits are realized, but they may not easily translate as cost reductions.

Increased market share, higher employee retention, and the ability to bring products to market faster are examples of strategic benefits that tend to get ignored in hard-dollar ROI discussions.

Other soft dollar savings include:

Better Customer Service

Immediate access to automated documentation encourages better customer service. Companies that go paperless show improvement in overall customer satisfaction with products and services. Employees have fast access to information to meet customer requests in shorter timeframes.

“Green” Improvements

Environmental savings are realized by bringing a company paperless. According to the Environmental Paper Network, “If the United States cut its office paper use by roughly 10 percent or 540,000 tons, greenhouse gases would fall by 1.6 million tons. This is the equivalent of taking 280,000 cars off the road for a year.”

Eliminating the printing of multiple documents alone can dramatically cut carbon and energy costs. Lighting, heating, and cooling costs for print equipment are also significantly reduced.

Ready to find out how automated sales order processing can fit into your business? Contact IntelliChief to learn moreor to request a custom demo of our order to cash automation software, click here.

ecm market

Projected Enterprise Content Management CAGR Suggests the End of Point Solutions Is Near

ecm market

A recently published report by MarketsandMarkets™ forecasts strong growth for Enterprise Content Management vendors in all regions, indicating a shift from disparate point solutions to robust, scalable offerings.

 

At this very moment, countless businesses are inquiring about how Enterprise Content Management (ECM) can help bring them into the future. They have heard whispers of faster processing times and fewer errors, streamlined exception handling, and the increased capital that comes with a system designed to generate ROI around the clock. Companies are phasing out point solutions that have provided short-term relief for some of their most pressing issues and, instead,  opting to look into the ECM market, which can deliver on promises of scalability, interdepartmental synergy, and cost savings.

Understanding the ECM Market

The ECM market is defined by the businesses it serves. Although ECM technology is robust, flexible, and scalable, the sector grows in response to the needs of its existing and future customers. When businesses fail to manage their enterprise content, it can create significant logistical challenges. For example, individuals working in procure-to-pay are often tasked with working with other employees outside of their direct team. If information is unable to pass from one department to the next, business grinds to a halt.

There are two different categories of enterprise, including:

  • Large Enterprises
  • Small- and Medium-Sized Enterprises (SMEs)

Initially, solutions vendors are expected to cater to large enterprises to help them manage large quantities of data from multiple departments or channels and measure data to drive decision making. That said, it is actually the SMEs that are expected to really push the ECM market to the next tranche. For SMEs, the benefits of ECM include unrestricted access to data, significant cost savings, streamlined compliance, and operational elasticity.

The Why Behind ECM Market Growth

According to a new market research report published by MarketsandMarkets™, the ECM market is slated to grow from $40.1 billion in 2020 to an estimated $66.9 billion in 2025. The Compound Annual Growth Rate (CAGR) for the forecast period is 10.8 percent.

The report, titled “Enterprise Content Management Market by Component, Deployment Mode, Organization Size, Business Function (HR Operations, Procurement and Supply Chain Management), Vertical (BFSI, Transportation and Logistics), and Region – Global Forecast to 2025,” goes on to identify a series of drivers for the projected growth in the sector, namely:

  • Inability to keep up with high-volume transactional content
  • Growing expectations for companies to facilitate streamlined content processing for all information entering or leaving the company
  • The increasing need for improvements in tasks involving organization, categorization, content structure, workflow routing, accessibility, and more

The Automation Market Is Thriving in North America

North America is considered the leader in ECM development and market growth. Over the next several years, this trend is expected to continue as new investments fund new projects to push the envelope. Reliable, long-time ECM providers like IntelliChief will begin to experience pressure from newer competitors in the space, such as Microsoft, IBM, and Oracle. However, IntelliChief has the unique distinction of being an ECM solution through and through, ensuring best-in-class service and support that can’t be matched by larger corporations just starting to get their foothold.

Are you interested in learning more about the ECM and Automation implementation process? Contact IntelliChief today to learn more about our award-winning, time-tested solutions that have helped hundreds of customers work smarter, not harder.

Software Implementation

3 Reasons Why the Software Implementation Phase Will Determine the Long-Term Success of Your Automation Project

Software Implementation

Automating your business processes gives you the opportunity to gain a distinct competitive advantage, but all your hard work can be undone by an inferior implementation or a lackluster integration.

 

“Since the software implementation ended, we’ve literally never used it,” sighs an Accounts Payable Supervisor for a chain of Midwest manufacturing plants.

He sits back in his chair as his eyes slowly rise towards the ceiling.

“We purchased our current solution six months ago because it checked all of our boxes. Unfortunately, we have not had enough help implementing it to actually use it properly. That’s why we called your team.”

Another man, dressed neatly, sits across from him taking notes on a legal pad. “It’s just sitting on the shelf?”

“Well, not literally,” the AP Supervisor laughs. “But it might as well be.”

“Well first, let me start by saying that I’m sorry your business had a poor experience with your last vendor. However, I’m happy to say that we can help! We aren’t going to leave your side until your system is fully functional and you’ve observed an appreciable ROI. How does that sound?”

“Sounds like we’ve got a deal.”

When our Solution Engineers hear horror stories like this from our customers, which, unfortunately, is more often than we care to admit, they are flabbergasted. Whether you’re looking for a simple fix to address a single issue with your Enterprise Resource Planning (ERP) system or a robust solution to transform your business, it is the vendor’s responsibility to ensure that your purchase is not only integrated securely in your existing work environment but also generating the ROI your company needs to justify its purchase.

When it comes to automation, you cannot afford to waste money on an unusable solution. Comprehensive, industry-leading features are important, but not if they’re locked away behind a wall of complicated code. Therefore, it is paramount that businesses keep implementation and customer service top of mind when shopping for an automation solution.

Caution: Companies Purchase the Wrong Solution All the Time

Let’s face it, shopping for enterprise software isn’t easy. When you start your search, you’re going to be confronted with hundreds, possibly even thousands of software options, but only a handful of those will have the features you’re looking for. Among those, maybe two or three will be compatible with your ERP system or line of business application – if you’re lucky.

It’s not uncommon for a company to purchase the wrong solution. In fact, it happens more often than you might think. Sometimes, it results in a situation similar to the scenario described above. In other cases, a solution might yield positive results but fail to live up to its true potential or the potential of a different solution. There’s an opportunity cost when you implement the wrong software integration, one that can undercut your bottom line for years.

The software implementation phase is your chance to test your system, ask questions, train your employees, and ensure that you have everything you need to successfully automate your company. Here are three reasons why you can’t afford to make a mistake:

Reason #1: Seamless Integrations Require Intimate Familiarity With Your Core Business Processes

Most businesses are seeking a seamless integration with their existing ERP system. In other words, a solution that has been carefully architected by an expert who understands the vulnerabilities of the system, how to work around them, and how to get the highest level of functionality from the integration – but that’s only the beginning. Let’s set aside the technicalities of a seamless software integration and focus on what matters most – your business. You need to be able to answer a lot of questions before you can be certain that your proposed solution is the right fit, chief among them:

Can the solution emulate my core business processes perfectly?

 

At IntelliChief, our Solution Engineers are trained to answer this question, and because IntelliChief has the rare distinction of universal compatibility with all ERP systems and line of business applications, our team’s implementation experience is unparalleled. Here is a brief summary of some of the steps that must be taken for a perfect implementation:

  • Detailed analysis of top vendors, processing time, and opportunities for business process optimization
  • Robust testing and validation of AP automation with top vendors
  • Automated OCR testing using real transactional content
  • Integrated training using live samples in the actual working environment
  • Daily engagements to answer questions and address challenges
  • 30-60-90 milestones to validate independent metrics against testing metrics

Reading #2: Only an Expert Can Provide Evidence of ROI Before Launch

Models and statistics do a fantastic job of conveying what should happen following your software implementation; however, many businesses find that their results differ drastically from their expectations. It requires a unique talent and a gift for working within the fabric of a client’s company to guarantee ROI that meets their goals.

There is only one way to truly know whether your software integration can meet your requirements, and that is by testing it live with your authentic business data. This will give you an unrestricted look at how your solution operates within your existing ERP environment. You will know precisely what to expect on Day 1, ensuring that there are no unexpected surprises as you begin to work faster, smarter, and more accurately than ever before.

Reading #3: Planning for Future Projects Begins During the First Phase of Implementation

Another reason why the software implementation phase is a strong determiner of future success is that it gives you the opportunity to establish a long-term plan. This is one of the major benefits of a software partnership as opposed to a faceless software vendor. There are only a handful of vendors who offer this level of service, IntelliChief residing chiefly among them.

With IntelliChief, you can automate one department (i.e., Accounts Payable), reap the benefits, and then use your new-found capital to continue automating other departments. For example, automating Accounts Receivable is essentially the inverse of automating Accounts Payable, which means you can essentially double your savings. It’s worth noting that a software partnership with an Enterprise Content Management (ECM) vendor like IntelliChief will give you the ability to scale your solution according to the needs of your growing company.

Are you interested in learning more about the ECM and Automation implementation process? Contact IntelliChief today to learn more about our award-winning team of implementation experts.

 

 

process improvement automation

What Are the Consequences of Canceling an Automation Project?

process improvement automation

Due to the unexpected COVID-19 pandemic, executives gearing up to automate their companies are facing a difficult choice – whether to cancel their project or proceed full steam ahead. Quick decisions can have long-term consequences for your business; these are the risks.

 

Business interruptions tend to pop up at the least opportune times. In early 2020, Americans were on track to reap the benefits of the strongest economy in the history of our country. Then, the COVID-19 pandemic suddenly swept in, erasing years of economic progress since our country began to rebuild following the Great Recession.

As a result, the economy tanked, millions of jobs were lost, and the future of our country’s business leaders was brought into question. Meanwhile, stock market speculation shifted into bear territory with a series of record Dow Jones point losses on March 16 (-2,997), March 12 (-2,352.60), and March 9 (-2,013.76). For reference, the previous record loss was -838.55 point on September 29, 2008.

Many businesses were forced to make difficult decisions to remain viable, such as whether to pause (or cancel) plans to automate their company. While it’s true that process improvement automation projects can be costly upfront, they can also give businesses the tools they need to remain viable regardless of the type of business interruption keeping them from operating at full capacity.

There’s an opportunity cost for every canceled project, and in the case of process improvement and automation, that opportunity cost can be crippling. Before you cancel your automation software implementation, consider the following risk:

1. The Financial Cost of Cancellation

One of the biggest selling points of process improvement automation is the tremendous ROI to be gained from faster processing with fewer errors. Automation can increase productivity by as much as 90% while ensuring that every opportunity for an early payment discount is secured. Furthermore, in the context of an Enterprise Content Management (ECM) solution, it can also eliminate duplicate payments when integrated into an intelligent workflow.

In other words, you do not want to squander your future ROI by cutting ties with a vendor you have already signed an agreement with, especially if you are already several stages into your implementation. Performing exhaustive due diligence is critical to making the right purchase. If you want to make things easy on your company, find a vendor that offers a reliable integration with your core ERP system.

2. Overburdened Employees

Automation can help reduce employee stress by eliminating time-consuming and redundant tasks, giving them more time to focus on big picture projects that have a long-lasting effect on the company. For example, the keying of data into your ERP system is inefficient when performed manually. It is a highly error-prone process that requires several internal confidence checks on the part of the processor. If any of the information is input incorrectly, it could lead to a delayed payment or order – either of which will have a negative effect on your bottom line. When employees are forced to do jobs that are impractical or overly repetitive, it affects morale daily. When these same employees are criticized by management for their work ethic, it raises the question: Is the employee’s performance lacking? Or is the process the problem?

Oftentimes, we find that the process is the true cause of a company’s woes, not the employees. With automation working alongside your employees, you can reach unprecedented levels of productivity while ensuring that your most important assets, your employees, are given the support they need to serve your company for years to come.

3. Loss of Market Share

There is no other competitive advantage quite like process improvement automation. The before-and-after data following an automation software implementation can be staggering. Not only does your company get faster but it also gets smarter and more cost-friendly. Unsurprisingly, one of the most common reasons why companies decide to start looking into process improvement and automation is because they have caught wind of their competitors doing the same.

Now, here is the inescapable truth. And please be warned, it can be a tough pill to swallow. In the future, every company will rely on automation in some capacity. It is not a matter of if but when your competitors will begin to use automation to improve their processes. It is highly likely that some of them have already started. Automation can help you maintain your market share and fend off your competitors by placing a wide functional gap between your capabilities and theirs. The longer you can take advantage of this functional gap, the brighter the future outlook for your company will be.

4. Legal Disputes

Have you already signed a contract with your selected vendor? If so, you could find that canceling your project is a bigger challenge than you initially expected. While not all companies will penalize you for pausing your project, there are many who will. Read your contract carefully before signing; otherwise, you could find yourself on the phone with your lawyer. To avoid a situation like this, seek out a vendor who treats you like a partner and not a customer. At IntelliChief, we are invested in the mutual success of our partner businesses. By helping you meet your goals, we can continue streamlining your business processes and helping you reach your next milestone. In fact, IntelliChief has several capabilities to help your business improve legal compliance, such as Retention Manager, which can automatically schedule purge policies and provide quick audit support.

Whether you are thinking about taking on an automation project or your current project has been placed on indefinite hiatus, our team is standing by to discuss any questions you might have regarding business process automation and successful implementations. Contact IntelliChief today!

Backup Software

Is Backup Software the Next Big Thing? Or Does the Technology Already Exist?

Backup Software

IntelliChief’s secure, automated digital repository provides a reliable solution for the enterprise backed by 10+ years of implementation, experience, and feedback.

 

Advanced Market Analytics (AMA) recently published a comprehensive research report detailing the global backup software market.  At more than 200 pages, it is a daunting read that explores the nuances of the burgeoning market; however, it fails to mention that backup software has already been available under a different name for many years. Software that duplicates content and securely saves it, ensuring that documents are retained for as long as they are needed by businesses, is an important component of any document management system or, if more features are required, an Enterprise Content Management (ECM) solution – like IntelliChief.

What Is Backup Software?

Backup software gives users the ability to backup enterprise content into folders that can be accessed by authorized individuals and teams. Backup software, which is typically tied to a digital repository, can be utilized to save or restore an original file without compromising the quality of the document or the accessibility of the information contained therein. It eliminates instances of misfiled or lost documents, damaged documents, and automatically equips you with the tools for disaster recovery.

Where in the World Is Backup Software Needed?

The security and peace of mind supported by implementing backup software to support your Enterprise Resource Planning (ERP) system is a surefire way to ensure that information entering your company is maintained for as long as it is needed to increase your bottom line. This is a need shared by business owners across the globe, which is why this functionality is popular in many regions, including:

  • North America
  • Europe
  • Asia-Pacific

By going a layer deeper and examining country-specific data, software vendors can obtain a more comprehensive understanding of their customers, and vice-versa, businesses can identify which vendors are equipped with the tools to help them ensure that vast quantities of information are preserved in high-quality, digital copies that can’t be tampered with or destroyed without executive approval.

With an Array of ECM Tools, IntelliChief Outperforms Backup Software Companies That Are Just Entering the Arena

The concept of “backup software” is nothing new. Backing up information has been a long-standing practice for most businesses but doing so can be time-consuming. It is time for a change. Backups should continue on a rolling basis automatically without human intervention. As soon as an invoice or other form of transactional document enters your organization, it must be copied and stored safely. Better yet, it should be linked with other related documents to form a digital paper trail – a popular IntelliChief feature that establishes it as the go-to solution for backup software for the enterprise.

With 10+ years of experience providing digital repository, business process automation, and document management services, IntelliChief is the only solution with the distinction of being an ECM platform that is universally compatible with all ERP platforms and applications. IntelliChief neatly integrates with your ERP system, unlocking additional features, such as automating rolling backups for all documents which are saved in a digital repository that can only be accessed by users with the proper permissions.

For the Enterprise, Digital Backups Are Only the Beginning

Companies cannot afford to lose information, especially information tied to high-volume transactional content. With backup software that saves duplicates of your enterprise content in a digital repository, you can ensure that your organization acts a vacuum that prevents any information from slipping between the cracks – and that’s only the beginning.

Once documents have been backed up to a digital repository, they can be routed throughout an organization via departmental or interdepartmental workflows. By introducing Optical Character Recognition (OCR), an ECM tool that captures information from paper and digital documents and saves it to your system, you can even support straight-through processing that allows you to process documents without any human intervention. With IntelliChief, your documents aren’t just saved securely, they’re enhanced and optimized to better support your company.

Ready to learn more about how IntelliChief’s digital repository can help your business maintain continuity and increase efficiency? Contact IntelliChief today to learn more about our industry-leading backup software and ECM platform.

PeopleSoft Accounts Payable Automation

PeopleSoft Accounts Payable Automation

How long do your employees spend on Accounts Payable in PeopleSoft?  If you’re not using your Oracle PeopleSoft ERP as efficiently as you could be, IntelliChief can help. We offer AP automation solutions specifically for Oracle, and because we’re an Oracle Gold Partner that has performed countless installations for PeopleSoft customers, we can configure a solution that aligns perfectly with your needs and goals.

What to Expect When You Automate Accounts Payable in PeopleSoft

Our PeopleSoft Accounts Payable Automation tools help you:

  • Collect, process, and store your vendor invoices
  • Capture more vendor discounts
  • Collaborate easily between multiple departments
  • Prevent lost or misplaced documents
  • Eliminate inefficiencies from manual entry

Automated workflows let you capture purchase orders, order acknowledgments, and receiving documents from both paper-based and electronic formats. Once captured, they’re organized and stored with any related transactional documents. Meanwhile, our software compares all of the data with the transactional information you already have saved in PeopleSoft. You don’t have to manually match the information or waste time on multi-step approval routing.

The best part? PeopleSoft users that implement IntelliChief for AP typically achieve a full ROI within one year — and that’s not the only benefit.

PeopleSoft ap invoice automation

The Benefits of PeopleSoft Accounts Payable Automation With IntelliChief

When you automate PeopleSoft with IntelliChief, your business will become faster, leaner, and more profitable. Customers benefit from:

  • Industry-leading integration backed by Oracle Gold Partner status eliminates the need for multiple vendors or technical resources
  • Embrace a paperless office that is more sustainable, environmentally friendly, and adaptable
  • Full visibility in the Accounts Payable process, including micro- and macro-level tracking
  • Boost deployment speed
  • Improve accuracy with advanced validation software that gets smarter over time
  • Automatically capture invoices from a monitored inbox
  • 80-90 percent reduction in manual data entry
  • Lightning-fast 2-, 3-, and even 4-way matching
  • Secure digital repository creates a centralized hub for all documents
  • Analyze processing speed, cost, efficiency, and ROI achieved with IntelliChief
  • Remote access from any smartphone or tablet
  • 24/7 security and audit protection

ECM PeopleSoft

Discover Our PeopleSoft Accounts Payable Automation Solutions

Is your company ready to phase out old, inundated processes that prevent it from reaching its potential? Your growth objectives are clear. You’re ready to take the next step, and IntelliChief can help you get there with PeopleSoft Accounts Payable automation. Realize instant ROI as your processes become faster, more accurate, and smarter — literally paying you back over time by automatically taking advantage of early payment discounts while eliminating late payments.

Want to learn more about our PeopleSoft Accounts Payable automation solutions? Contact us today for a free consultation. Our automation experts will help you determine whether or not your business is a good fit for automation.

 

 

Content Intelligence

How Content Intelligence Supports Your Company’s Digital Transformation

Content Intelligence

Digital transformation. It’s a phrase that seems to be tossed around more and more these days; however, despite its burgeoning popularity, it’s somewhat of a misnomer when examined through a critical lens. In today’s unpredictable business climate, companies don’t just need to transform, they need to evolve in order to adapt and thrive. The digital transformation sweeping the globe isn’t a passing trend, it’s the next major challenge in the survival of the fittest — and, as it turns out, the key to staying viable may be content intelligence.

What Is Digital Transformation?

Business leaders that are determined to keep up have a lot to consider as they seek solutions to assist them with their digital transformation. According to Salesforce, these technologies can be utilized to modify or replace existing “business processes, culture, and customer experiences to meet changing business and market requirements.”

In other words, every company’s digital transformation is unique to its own existing processes and structure. Business leaders can spend a lot of time digging through niche technologies designed for their vertical, but this isn’t always the best method. Niche solutions typically require multiple vendors and haphazard integrations. Starting with a robust, formalized solution can help streamline integration and minimize the learning curve of adapting to digital processes. So, where do you start? First, you’ll have to answer this question:

What is the one thing every business has in common?

 

Content. Documents. Information. It’s the fuel that keeps a business operational, which is why business leaders exploring options for their own digital transformation should seek a flexible solution that allows them to handle their content more intelligently. With content intelligence, businesses can adopt a solution that can be fitted to every department across their organization, making it the perfect technology to kick off your digital transformation.

Content Intelligence Tools Simplify Unstructured Data Management

Content intelligence encompasses a range of technologies designed to digitize business-critical information so it can be routed throughout an organization as efficiently as possible. Content intelligence allows a business to reduce processing times, increase fulfillment speed, and mitigate human error. Businesses benefit because their employees have far fewer manual tasks, significantly reducing the chance of missing or erroneous content.

Leading content intelligence platforms utilize artificial intelligence and machine learning to read documents, capture and index information, rout it approved users, validate data across multiple related documents, and a number of other functions that help your organization manage unstructured data. The technologies that make up content intelligence tools include:

  • Optical Character Recognition (OCR)
  • Machine Learning
  • Content Analytics
  • Unit of Measure Normalization
  • Universal Cross-Reference Tables
  • Mobile Capture
  • And More

Leveraging Content Intelligence for Your ERP System

Major Enterprise Resource Planning (ERP) providers, such as Oracle, SAP, and Infor, have grown rapidly over the last decade, culminating in Koch’s $13 billion acquisition of Infor in April 2020. A company’s ERP system plays an integral role in its day-to-day operations. Unfortunately, widespread adoption and a race to acquire third-party solutions that bridge the gap in these ERP systems’ shortcomings have made it integral for companies to seek partnerships that help them get the most out of their ERP system, such as business process automation for Accounts Payable or remote GL coding for invoices.

Regardless of which ERP system or line of business application a company relies on, a leading content intelligence solution will capture the important information from any incoming document and rout it a relevant user or into an automated workflow, depending on the software stack being utilized by the business. Any employee within the organization who has the proper permissions can then view, edit, and manage the document without leaving their desk. Companies that embrace business process automation can even eliminate approvals altogether if the matching process passes a certain confidence threshold — typically around 90 percent.

Content intelligence tools make quick work of duplicate invoices, mismatches, and other exceptions that fail to pass through your ERP system. Machine learning capabilities mean visually unique invoices, such as those sent from new customers, are quickly read, interpreted, and applied to any future invoices from the same source. In a perfect system, document routing can be automated for as many as 70 to 90 percent of documents, allowing companies to cut costs, consolidate resources, and eliminate “busy work.”

Make Informed Decisions and Gain Superior Visibility With Content Intelligence

Another benefit of content intelligence is the ability for business leaders to clearly visualize the inner workings of their business with analytics. How many invoices does your company process a month? Which employees are processing the most documents? How many documents are being held up for exception handling? How long does your process take from start to finish on average?

Businesses that can answer these questions have all the information they need to make informed decisions that protect themselves from the unexpected. Some content intelligence tools, such as IntelliChief, even provide ROI analytics to prove that they are making businesses less resource hungry and more efficient. Businesses can literally monitor ROI in real-time — a testament to the efficacy of content intelligence.

Managing Risk During Digital Transformation

Companies undergoing digital transformation are oftentimes riddled with anxiety as they modify business processes to fit the “future mold.” They conjure images of lost documents, organizational freezes, and unforeseen legal issues. Rest assured, these fears will soon be put to rest once their digital transformation is complete.

Content intelligence can bolster an existing risk management strategy by eliminating lost documents and generating a digital paper trail of all enterprise content. Plus, the superior visibility mentioned earlier means every aspect of your process is accounted for. Additionally, when the time comes to audit, having all of your documents and content available in a digital repository means your information is ready for review at all times.

The Content Intelligence Checklist

Are you ready to explore your options? There are several content intelligence platforms available on the market, but not every solution will be right for your business. Some providers are only interested in solving a single problem for an organization. Others, generally Enterprise Content Management (ECM) providers, are geared towards larger businesses that want a scalable solution for maximum ROI. Business leaders should keep this checklist on hand when researching solutions to ensure that they end up with the right content intelligence tools for their needs:

  • Does my business process a large volume of paper, documents, or content?
  • Are misfiled, missing, or lost documents hindering my processing speed?
  • Does the solution I am researching integrate with my existing ERP system(s) or line of business application(s)?
  • Does the solution support an array of different use cases?
  • Does the solution support interdepartmental connectivity?
  • Is the solution scalable?
  • Does the solution offer named licenses or concurrent licenses?
  • Does my current ERP provider recognize this solution (i.e., Oracle Gold Partner, Infor Solutions Partner, etc.)

Naturally, business leaders will be confronted with their own questions while perusing all the options available on the market — and rightfully so. Thoroughness is essential when selecting a content intelligence solution as it will serve a business for years to come, so we encourage you to take your time when performing your due diligence. If you find yourself at a crossroads, or simply want to talk to an expert about whether content intelligence is right for your business, we encourage you to contact us today.

Ready to learn more about how content intelligence can help your business thrive during digital transformation? Contact IntelliChief today to learn more about our industry-leading content intelligence tools and ECM platform.

 

 

IntelliChief

Maintaining Business Continuity With ECM During the 2020 Hurricane Season

2020 Hurricane Season

IntelliChief, the leader in Enterprise Content Management (ECM) solutions, urges businesses to prepare for the upcoming 2020 hurricane season in order to maintain business continuity and ensure the protection of all business-critical data.

According to The Weather Company, an IBM business, “The 2020 Atlantic hurricane season is predicted to be more active than usual.”

Dr. Todd Crawford, the chief meteorologist at The Weather Company, estimates that there will be a total of 18 named storms in 2020, including nine hurricanes and four major hurricanes. If this forecast is accurate, the 2020 hurricane season will trump the 30-year average, which class for 13 named storms per year.

For any business, maintaining operational data protection is a crucial aspect of business continuity. Without access to information, a business cannot flourish. When information is destroyed without a digital copy to fill in the gaps, it can lead to significant challenges for an enterprise-class business. Needless to say, with the 2020 hurricane season looming on the horizon,  disaster recovery and business continuity have come clearly into focus, leading to questions like:

  • Can you afford downtime?
  • How long can you survive when revenue skids to a halt?
  • If your business can’t serve its customers, will they immediately jump ship for a competitor, or are you secure in your niche?
  • What is the cost to restore operations versus the cost to safeguard against future disasters and disruptions?

Although COVID-19 has pushed organizations to address business continuity weaknesses, Mercer reports that only 24 percent of companies are currently drafting a plan and 51 percent have no plan at all. These companies have been rendered vulnerable to force majeure events that nobody can control, and this vulnerability will only continue to be exposed as the first wave of tropical storms and hurricanes sweep the Atlantic.

Another issue is the scope of a disaster recovery or mitigation plan. Commonly, companies have a disaster recovery plan that doesn’t include the preservation of information outside of their on-location and colocation servers. In other words, data stored on your employees’ personal devices, disparate systems, and even information on paper is a high risk for permanent information elimination.

An ECM solution can help mitigate risk by elevating a company’s ability to maintain business continuity. ECM integrates with ERPs and line of business systems, closing the loop on data indexing, real-time verification, and validation of information across all applications and databases. During disaster recovery, it provides a centralized hub that your staff can access from any location, allowing them to continue working with systems they are familiar with outside of the office.

ECM also provides a daily operational benefit in the form of real-time captures and data validation. It even provides interdepartmental process workflow automation and analytics. As an enterprise-class solution, it can be utilized across your organization in Accounts Payable, Order Processing, Finance, Purchasing, Sales Management, Customer Service, Human Resources, IT, Legal, Logistics/Distribution, and more.

For additional information on ECM for business continuity, as well as daily automated capture and workflow usage, contact IntelliChief.

Automate Company

Ready to Automate Your Company? Follow These 5 Steps to Get Started

Automate Company

If you didn’t start planning your automation strategy before the end of 2019, you’re already lagging behind your competitors. In many industries, business automation is inevitable. Outdated processes inundated by years of stopgap solutions leave companies vulnerable when key employees depart the company. Specialized knowledge doesn’t always make a smooth transfer from one generation to the next, and that can leave you at a distinct disadvantage, especially during a crisis.

When you automate your company, you optimize your business processes and fuse them to the DNA of your business. You become faster, more accurate, less error-prone, and less vulnerable to business interruptions. You fortify business continuity and give yourself the ability to expand how, where, and when you do business. Best of all, your system continues to work when the office is closed, allowing you to achieve peak efficiency around the clock.

That said, one does not simply snap their fingers to automate a company. Automating processes with business automation requires preparation and planning. Follow these five steps to get started as you make the transition to the best version of your business.

Step #1: Make a Commitment to Long-Term Success

Most business leaders are understandably focused on the here and now. It’s easy to fixate on short-term success, but the long-term outlook for your business is the ultimate judge of whether you are truly achieving your objectives. A commitment to business automation is a commitment to long-term success, which means shifting your strategy and possibly KPIs to account for the adjustment. It can be a tough pill to swallow, but there’s no time better than the present to take the leap. Not convinced? Here are several reasons why you should affirm your commitment to automation today:

  • Reduce the cost of labor
  • Mitigate human error
  • Unlock remote workforce
  • Adapt to changing markets
  • Optimize workforce distribution
  • Eliminate workflow bottlenecks
  • Enhance collaboration in and across departments
  • Ensure compliance at all times

Step #2: Select Your Most Paper-Burdened Department

At this point, nobody needs to make the case for the benefits of automation – it’s a well-known fact. However, to get the most out of business automation, you need to take what you’ve learned and apply it to one of the most paper-burdened departments in your business.

More paper means more problems, which tends to result in an inefficient or resource-hungry office. These are the departments that cost businesses the most money; not because employees aren’t working hard, but because the outdated processes they are utilizing are simply no match for today’s more advanced paperless solutions. Commonly, Accounts Payable, Order Entry, Human Resources, and Accounts Receivable are the departments that can benefit most, both in terms of boosting efficiency, productivity, and ROI.

Step #3: Understand the Justification for Going Paperless

Before you can automate at scale, you need to go paperless. In many ways, eliminating paper is the precursor to automation. When you go paperless, you maintain digital copies of all documents in a secure, centralized repository that can be accessed by approved users based on permission level. This gives you the ability to access, review, edit, and rout all documents instantaneously, eliminating time spent shuffling through file cabinets or manually delivering documents. Unlike information on paper, information that is transferred into a digital format can be used in virtually endless ways, which means you can finally consider automating the processes that are holding your business back.

Step #4: Blueprint Your Business Processes

Now, it’s time to identify business processes in need of improvement. You need a deep understanding of your workflows if you want to automate it correctly. Try to avoid systems that try to force you to make sweeping changes to your existing processes. Improvements are welcome, but if a system can’t adapt to your tried-and-true processes, it might not be the right match. On the other hand, avoid duplicating a manual process using technology only because “that’s the way we have always done it.”  Change is also an opportunity to improve by challenging why things are being done a certain way.

Engaging a partner with knowledge of best ERP- or industry-specific practices can also help to re-engineer a process and make it better than before.  You want a robust product that can be “configured” to the particular needs of your business. Only then will you be able to fully realize the advantages of business automation.

Step #5:  Automate Your Company With Enterprise Content Management (ECM) Software

The moment you’ve been waiting for has finally arrived. You’ve made a steadfast commitment to automating your company, identified your most overburdened departments, reduced your reliance on paper, and documented the nuances of your business processes – it’s finally time to implement your automation solution! We recommend avoiding point solutions that only allow you to automate certain departments or processes. A configurable Enterprise Content Management (ECM) solution that can be applied to multiple departments gives you the benefit of dealing with a single vendor who truly understands the entirety of your ERP system and it’s connected applications. It also allows you to scale your solution on your own terms and timeline.

 

Are you interested in learning more about how business automation can help you work smarter, not harder? IntelliChief can help you automate your company to accelerate processing times and eliminate errors, giving you a distinct competitive advantage. To learn more about how we can help you plot your automation timeline to ensure that your business is protected against future interruptions, contact us today.