Digital Transformation in Document Management

Utilizing structured data correctly is becoming more and more important as a customer might want to be contacted using a particular channel regardless of the medium they initially engaged the company through - highlighting the importance of an end-to-end solution. Discover more in our Whitepaper.

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How documents have changed

Historically documents were predominantly physical, unlike today where a document is any form of media that provides information inclusive of; PDFs, email, online chat, voice messages, and video messages, amongst many more.

Consequently, companies need sophisticated technology and systems to efficiently process unstructured information and convert this into useful structured data. Although technology is continuously evolving, 70% of document management is still physical.

Despite digital formats increasing in numbers every year, we will still be living in a hybrid world of physical and digital documents for some time to come. It is essential that companies can handle both media types seamlessly, with the same central systems in order to create efficiency.


Optimizing the input and output of an organization

There will be an explosion of channels in the coming years which could present challenges for companies. As soon as they build a robust process for one channel, it could quickly become outdated, and mean having to restart.
 
The solution is for companies to separate their business processes from specific channels, with regard to both input and output. Companies need to transform their operations and link them to their overall business outcomes.
 
For example, if a company focuses on customer service as a business outcome, then receiving an accurate, timely response should be their priority. The channel the customer uses to communicate with the organization should be irrelevant; the result should always be consistent.
 
To achieve their objectives, organizations need to be efficient in converting unstructured information into structured data, this will require a combination of automation and human interaction to maximize efficiency, while being able to handle complex cases.

Utilizing structured data correctly is very important as a customer might want to be contacted using a particular channel regardless of the medium they initially engaged the company through - highlighting the importance of an end-to-end solution. For more information download our whitepaper.
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    Investment company

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    Telco Business

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Succeeding with document management

A holistic approach is required to succeed with document management. SPS combine onshore and offshore labor, intelligent automation, artificial intelligence (AI), process excellence, innovative technology, and a hybrid output - creating a reliable, high-performing model that is both scalable and cost-effective. We call this the Business Process Factory Model.

The Business Process Factory Model is best suited for high volume tasks that can be mainly automated. Using intelligent automation, tasks can be completed quickly and cost-effectively. For the more demanding tasks, right-shoring units with human workers can be utilised to handle more complex cases and transactions asynchronously. 

Typically, a model would involve 80% automation and 20% manual processing. The business process factory is an end-to-end (E2E) system wherein entire workflows can be outsourced - allowing businesses to reallocate their resources to their core business areas.   

The benefits of a business process factory:

  • Greater cost-efficiency
  • Higher customer satisfaction
  • Faster time to market
  • Increased accuracy
  • Scalability

Each industry has different requirements, in relation to the documents they handle, customer expectations, and regulatory requirements. Whether it is syncing new processes to legacy infrastructure or to run alongside existing systems; it is vital that each model is purpose-built with a core task as a focus, all the while, allowing for flexibility within the system.


Future proofing document management

Ensuring that companies have an infrastructure that accommodates today's demands is only half the challenge. The infrastructure needs to be future proof, as the landscape in 5 to 10 years will be significantly different than it is today, due to the rate at which technology is advancing.
   
Companies need to build systems that can quickly and easily integrate new technologies and ways of working, in order to succeed. When tailoring our solutions to clients, we build an architecture that is robust enough to incorporate new technologies and ways of working while also being able to integrate with legacy systems. Consequently, we have heavily invested in new technology in the document management space, which includes:
 
  • Artificial intelligence
  • Natural language processing
  • Optical character recognition (OCR)
  • Intelligent automation
  • Robotic process automation (RPA)
  • Virtual and augmented reality
  • BPaaS platform
  • Voice recognition

Customer testimonials

  • testimonials

    We value SPS as a trustworthy partner, particularly because of its flexibility in resource planning during periods when transaction volumes are high, its proactive management and its consistency in delivering a high quality service.

    Member of Board, Investment Trust