automating capture with ktm ryan bazler director, product marketing, kofax
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Automating Capture with KTMRyan Bazler
Director, Product Marketing, Kofax
The First Mile
Video: 7 Ways to Make the First Mile™ Smarter
Web: Seven Ways to Make Your First Mile Smarter
Paper
Fax
SMS
XML
Office
Multi-Channel Capture Feeds Business Processes
Mobile applications
Electronic formats
Paper documents Social
collaboration
Social
Without Kofax
DecideUnderstand
What do I do with it?What is it?
ECM/RM Database
SharePoint
Portal ERP/LOB/CRM
Paper
Fax
SMS
XML
Office
Social
Kofax Provides an Essential Link
ECM/RM Database
SharePoint
Portal ERP/LOB/CRM
Deci
de
Und
ers
tand
DecideUnderstand
Paper
Fax
SMS
XML
Office
Social
Process Management
Collaboration
Kofax Value Proposition
ECM/RM Database
SharePoint
Portal ERP/LOB/CRM
Deci
de
Und
ers
tand
DecideUnderstand
Paper
Fax
SMS
XML
Office
Social Extr
act
Valid
ate
Com
munic
ate
Sep
ara
te
Cla
ssify
Cap
ture
Point of Origination
Process Management
EnterpriseReady
TouchlessProcessing
Analytics
BI/Analytics
Mobile
Dynamic Case
Management
Analytics for Capture
Market Evolution and GrowthMarket Size
1M
100M
1B+
1985 1990 1995 2000 2005 2010 2015
$0
$1B
$2B
$3B
$4B
$5B
100K
500K
Smartphones & Tablets Used by Employees & Customers
Desktop Scanners & MFPs in Highly Distributed Front Offices
Mid Range Scanners in Distributed Regional Offices
Production Level Scanners in Centralized, Back Offices
Monolithic Page Scanners in Centralized Back Offices
“Everyone has a scanner in their pocket today.”
Geoffrey Moore, Best-selling business author
Importance of Mobile in the First Mile67% consider mobile devices to be important to improving business processes
45% believe mobile devices would improve their speed of response by > 3X
Yet … >75% have made no progress toward these goals
Financial Services• Customer onboarding • Mortgage & loan apps• Appraisals• “Trailing documents”
Healthcare• New patient onboarding• Clinical documentation• Medical claims submission • Revenue cycle management
Government• Citizen benefit enrollments • Claim submissions • Licenses, permits & renewals• “Trailing” documents
Source: AIIM – April 2012
Insurance• New policy quotes• Customer onboarding • Claim submissions• “Trailing” documents
Mobile – An Emerging ChannelSurvey reveals preconceptions about mobile apps, including frequency of usage, buying behavior and likelihood to use for customer service purpose.
Almost half use apps on their mobile device 10+ times per day, more frequently than general grooming and eating.
48% use mobile apps more than 10 times a day.
Brush teeth up to 3 times a day.
Eat up to 5 time a day.
Shower up 2 times a day.
Mobile – An Emerging Channel
Smart Mobile Apps
Mortgage Automation
customer Onboarding
Claims Processing
Underwriting (New Business)
Patient Onboarding
Mobile Quote
Mobile Pre-registration
Mobile Onboarding
Mobile Mortgage
AP Automation
Mailroom Automation
Mobile Capture
Kofax Stairway to Value
Improve Information Visibility
Digitize paper for better access
& compliance
Achieve Operational Excellence
Streamline processes to greatly reduce
costs
Increase Customer Intimacy
Establish new levels of
engagement & collaboration
Deliver Total Enterprise Agility
Radically transform &
simplify the First Mile of
customerinteractions
Value Proposition
Reduce Operating
Costs
Optimize Customer
Experience
Market Evolution
Collect Transform Deliver
Scan Recognition Validation Release
Kofax CaptureCapture Basic Transformation 100+ Connectors
Kofax Transformation ModulesIntelligent Document Recognition
ECM
BPM
ERP
Business Systems
Reporting
Systems ManagementCA, IBM ,HP,
MSFT
Enterprise Framework for Capture
Kofax Analytics and Kofax Monitor
Platform Shared Services
Extend capture to the earliest point in the process Automate, accelerate and reduce operating costsEnable standardized corporate systemsEnd to end process monitoring and reportingStandard resources utilized by the entire platform
KTM Product Overview Manual document separation and data entry is slow, expensive
and error prone.
To solve these challenges, KTM: Provides Touchless ProcessingTM solutions that reduce the time to
understand and decide what to do with information Automates document classification and separation, and information
extraction and validation. Increases productivity, speeds processes, improves data quality and
lowers costs
Use cases: Invoice processing Records processing Digital mailroom
• Mortgage processing• Insurance claims processing• New account opening
KTM Product Overview What business benefits are delivered by KTM?
Speed
Productivity
Capacity
Cost
Exceptions
Risk
Executive Sponsor:“I want all our processes to be streamlined – we need be more efficient and differentiate by providing better service.”
Process Manager:“I want a secure, reliable, and easy-to-manage process where my people focus on serving our customers, not handling documents.”
Kofax – Extensible Capture Platform
Capture &
Cleanse
Identify Review Extract Validat
eManag
e
Content is captured and
image is cleaned and
perfected
Automated document
identification and separation is performed
Document classification is examined for accuracy
Automated metadata
extraction is performed on
the documents
Extracted metadata is
examined for accuracy and
rules adherence
Documents and metadata are
able to connect to multiple data sources with flexible maps and schemas
• Process Any Document Type: Structured, Semi-structured, unstructured• Capture, Validate and Match Data – Bar Codes, OCR, ICR, OMR• Database Matching – Leverage Your Data Sources• Form, Field and Character Level Confidence Scores
• Optimize user experience and automation through your control
Document Learning, Not Templates, Rules, and Coding The Problem
Templates, rules and programming are not viable… When you have hundreds of document types When you have hundreds of variations of each doc type When you have frequently changing layouts or fields for
each document type
A learning approach is needed For initial project configuration in design time – Learn By
Example For ongoing project maintenance in production – Online
Learning
KTM Learn by Example
Learn-by-example – done pre-production Simple training process: provide samples and KTM starts
learning! No rules or programming
Business challenge Tight deployment schedules and budget
Business benefits Less costly deployment – lower initial development costs Quicker deployment – shorter application development times
KTM Online Learning Online Learning – done in production
Learn documents quickly, without stopping (“on the fly”) Increase system “knowledge” and improve automation over time
Business challenge Maintain and improve
performance once in production
Business benefits Achieve same-day efficiency
improvements Be responsive to new or
changing documents
Kofax Transformation Modules Key Competitive Advantages
•KTM supports all documents and information types so customers benefit from a single solution that extends the benefits of capture across the organization, increasing ROI. Many competitive solutions are departmental and focus on specific document types.
Capture and process any document
•KTM uses advanced recognition technologies that provide industry leading extraction rates on all types of text, including machine print, hand print and cursive handwriting in over 140 languages. Higher extraction rates mean greater reductions in manual labor and headcount and more touchless processing.
Maximize touchless processing
•KTM uses learn-by-example technologies for classification, separation and extraction that can be trained rapidly and work on all document types. Many competitive solutions use complex document templates and rules that take weeks or months to develop, or use auto-templating that doesn’t work on letters, reports and other unstructured documents.
Minimize upfront configuration costs
•KTM continues to learn as documents are processed in production, improving classification and extraction rates on the fly to increase ROI, and removing the need for manual reconfiguration when documents change or new documents are introduced.
Minimize ongoing maintenance costs
•KTM provides modern, intuitive and customizable user interfaces that allow exceptions to be handled quickly and efficiently.
Streamlined exception handling
Overview – Medical Claims Add-on Pack Benefits
Near-complete medical claims capture implementation Automated processing of CMS-1500 and UB-04 forms More medical claims processed with existing staff Faster case resolution, greater customer satisfaction Reduced processing costs Improve HIPAA transparency, control & compliance Integration with existing claims management systems Ability to process all document types, not just medical
claims
A majority of KTM configuration work is done – remaining portion is a PS
engagement
Up to 21 person months of work saved!
Overview – Invoice Add-on Pack 1.1Value Proposition
Out of the box invoice processing demos Improve speed and performance of invoice processing proof of concepts
(POCs) Internal benchmark: >75% extraction rate for unknown invoices for 5 different countries
Internal benchmark: >97% extraction rate for known invoices for 5 different countries
Reduce Professional Services work for production deployments Provide best practice methodology and documentation
Functional Overview Optimized extraction, formatting, validation and pre-configured scripting Localization in 4 languages (DE, FR, ES, EN) Demo invoices and databases for 5 different countries Documentation on how to demo the project Documentation on how to deliver a POC and customer implementation
Kofax Case Study – Invoices
Challenges
3.5M invoices, over 35,000 suppliers, multiple processing centers
Labor intensive and expensive manual process
Delays increase risk of lost discounts and poor supplier relations
Benefits
74% are now automated
Expenses reduced >$1M per year
Accelerated processing times
Increased accuracy
Increased discount capture
Improved supplier relations
Customer: Corporate Express
Business: Subsidiary of Staples, $23B in annual revenue & operations in 27 countries
1M+ invoices annually, 35,000 suppliers
Slide 22
| Transform 2012 - Capture Driven Processes
Demos
Invoice Processing with KTM
Thank you
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