paperwork

Thomas Senger (UK) - Urban Myths: Will the Ultimate Goal of the Paperless Office Ever be Achieved?

Thomas Senger, v of software and solutions at Kofax, explores the urban myth surrounding the paperless office and what steps businesses can take to handle the ever-increasing amount of paper entering their organisations.

Documents - paper, fax, email (including attachments) and electronic forms - are the primary medium of exchange in the insurance industry. They are the engine that drives virtually all back office business processes such as claims adjustments, approvals, exception management and payments.

Businesses in the UK face a number of challenges in managing both physical and digital information. An electronic document capture platform provides insurance brokers with the ability to capture content from many common sources (paper, fax, email, SMS etc), either centrally or in a completely distributed fashion. Once a piece of communication is captured, it is analysed (a process called classification), and then separated into logical groups of data. Then, the business critical data contained within the captured document is extracted and placed into the relevant system, process or workflow. All of this can be done automatically without the need for manual intervention.

A crucial step in these strategies is to automate the paper-based business processes that are not only time-consuming but also subject to many points of failure as documents are passed between agents, claims adjusters and brokers, and payments are moved within and among multiple payers and insurance providers.

This presents a great opportunity for businesses to significantly reduce costs, increase operational and sales efficiency, and obtain the necessary data transparency for compliance by treating document capture as a strategic initiative.

Having this information readily available will benefit UK companies in the long run. They will be able to clearly define the constantly rising amount of documents entering the organisation, and alleviate the labour-intensive task of reviewing each piece of paper and determining the appropriate place to file it.

Taking away the paper aspect of processes altogether is just not a realistic option. Automation of processes is a reality, and one which UK businesses must embrace.

By Thomas Senger, vp of software and solutions at Kofax

 

 

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