• Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Special Offers
Business Intelligence Info
  • Business Intelligence
    • BI News and Info
    • Big Data
    • Mobile and Cloud
    • Self-Service BI
  • CRM
    • CRM News and Info
    • InfusionSoft
    • Microsoft Dynamics CRM
    • NetSuite
    • OnContact
    • Salesforce
    • Workbooks
  • Data Mining
    • Pentaho
    • Sisense
    • Tableau
    • TIBCO Spotfire
  • Data Warehousing
    • DWH News and Info
    • IBM DB2
    • Microsoft SQL Server
    • Oracle
    • Teradata
  • Predictive Analytics
    • FICO
    • KNIME
    • Mathematica
    • Matlab
    • Minitab
    • RapidMiner
    • Revolution
    • SAP
    • SAS/SPSS
  • Humor

AI Digital Document Transformation Increases Business-Critical Efficiencies

December 17, 2019   BI News and Info
 AI Digital Document Transformation Increases Business Critical Efficiencies

According to a study by Xerox, 46% of respondents say their time is wasted by paper-intensive workflows. Despite that fact, almost 50% of businesses have only just begun or are still considering implementing digitization.

The fact is, paper just can’t move as fast as digital files. The same goes for humans. Although we are fast approaching a truly digitized age, many industries, such as law and government, still struggle with paper dependency as a result of legacy business processes.

Luckily, digital document transformation via AI and machine learning can help streamline business-critical processes via automation and the marvel of modern computing. Companies that don’t ride this wave may well get left behind.

How does it make business more efficient?

Automatic and consistent drafting of documents

A lot of time goes wasted by using staff hours to draft new versions of existing documents. Every time a new employee joins, it means going through a process of training on how to use the house style. All of this can be (and already is) sped up by document automation via AI and machine learning.

Or let’s say you sign a new client and log them into the system. A standard agreement can be automatically drafted that uses the client’s name and details within seconds. You can rest assured that there will be no human errors and that the styling will be consistent.

This will allow your employees to focus on their job and not the mundane and repeatable task of drafting documents.

Classification and processing

The amazing ability of AI and machine learning algorithms to extract data has another use. These machines have become remarkably good at reading the context of content. Documents can easily be sorted into document clusters or arranged by date, topic, field of business, etc. Some document management software does this by using optical character recognition (OCR) to read text content.

Not only does this cut down on time to do this manually, but it also has a host of other benefits. Documents are easier to find once they are digitally filed, and this further reduces your dependence on physical copies.

Data extraction and analytics

Being able to automatically “read” information has another important use. AI algorithms can pick up data points or important pieces of information and collate them across documents. Businesses are then able to pull specific data sets from their documents.

This doesn’t just go for what’s in the documents but also the documents themselves. You can get info on how many documents you have according to type, client, etc. It will allow you to track your own document usage and statistics and stay on top of shifting patterns and trends. It can also lead to future integration with automatic invoicing, for one example.

Streamlined digital admin and document management

Document management software suites usually come with an easy-to-use interface that you can access from the computer. Instead of handling physical documents or having to make changes to templates or existing documents one by one, this interface streamlines the process.

For example, a law firm has many different types of documents. However, it might use a consistent header or logo at the same place on each page. Through the software, you can update these graphics, and the algorithm will make the necessary changes across your company document templates.

Business processes can even be built into the AI’s logic. Documents can be automatically sent to the right individual or department according to workflows based on simple rules. In this way, there is no reliance on a middleman to send documents from one party to the next. Signatures can be automatically collected and the document then forwarded to the next relevant party, for example.

Start to embrace a paperless future today

The benefits of AI and automation in document digitization actually boils down to one thing: Allowing your management and employees to focus on their job expertise. This will streamline business across the board by maximizing working hours and cutting down on admin.

The field of AI document transformation is still very new, but progress is being made with lightning speed. Integration with blockchain technology is already happening and will take the verification, security, and redundancy of document management to a new level. Start on a digitization campaign today to stay at the forefront of streamlining your document-related business functions.

Assistant bots are developing so rapidly that they’re quickly moving from business automation to becoming an integral adjunct to the human mind. Download the executive brief “Robotic Process Automation: The Dawn of Unlimited Intelligence.”

Let’s block ads! (Why?)

Digitalist Magazine

BusinessCritical, digital, Document, Efficiencies, Increases, Transformation
  • Recent Posts

    • Recreating Art – the unexpected way
    • Upcoming Webinar: Using Dynamics 365 to Empower your Marketing and Sales Teams with Digital Automation
    • Center for Applied Data Ethics suggests treating AI like a bureaucracy
    • Improving Dynamics 365 Data Integrations with Alternate Keys
    • Trump’s Note to Biden
  • Categories

  • Archives

    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • January 2018
    • December 2017
    • November 2017
    • October 2017
    • September 2017
    • August 2017
    • July 2017
    • June 2017
    • May 2017
    • April 2017
    • March 2017
    • February 2017
    • January 2017
    • December 2016
    • November 2016
    • October 2016
    • September 2016
    • August 2016
    • July 2016
    • June 2016
    • May 2016
    • April 2016
    • March 2016
    • February 2016
    • January 2016
    • December 2015
    • November 2015
    • October 2015
    • September 2015
    • August 2015
    • July 2015
    • June 2015
    • May 2015
    • April 2015
    • March 2015
    • February 2015
    • January 2015
    • December 2014
    • November 2014
© 2021 Business Intelligence Info
Power BI Training | G Com Solutions Limited