Dm ANALYSIS: INTELLIGENT DOCUMENT PROCESSING "IT'S STRAIGHTFORWARD, FUNDAMENTAL, CLOUD-BASED DOCUMENT MANAGEMENT. IT'S THE KIND OF THING OUR INDUSTRY HAS BEEN ABLE TO DO WITH EASE FOR OVER A DECADE. SO WHY DON'T PEOPLE DO IT? WHY DO THEY STILL RELY ON PAPER-BASED PROCESSES? THERE ARE MANY REASONS, AND IT'S BEYOND THE SCOPE OF THIS ARTICLE TO EXPLORE THEM, BUT OFTEN THE NUMBER ONE REASON IS THAT NOBODY TOLD THESE PEOPLE YOU COULD DO THIS. NO VENDOR HAS BOTHERED TO LOOK BEYOND THE SAME OLD BUSINESS PROBLEMS TO SEE WHAT NEW OPPORTUNITIES ARE OUT THERE THAT THEY COULD FIX." policing the problem in the future is, at heart, an information management problem. Nothing will stop organised criminal groups or corrupt nations from committing fraud, but you can make it much harder to pull off and, in some cases, make it so complicated that it's not worth the effort. You may not care for honey or olive oil or feel there are more significant problems to solve. The issue of adulterated or fake products is much bigger than that of high-end honey and oil. It spans almost every product that sells at a premium, such as lifesaving medication. The projects I advised on were technical proof of concepts: the importation of organic honey from South America, and olive oil shipping to the US from the south of Italy. From a technical standpoint, the POCs leveraged blockchain, cloud, and IoT. The goal was to prove provenance (where this product came from and its journey to the shelf) and the validity of the product; it is what it says it is. For what it's worth these POCs were a resounding success in proving the provenance of the products, but the validity problem was only partly resolved. However, in hindsight, validity was the easier part of the equation. Organic honey, for example, comes from certified organic hives and beekeepers at an industrial scale; that's a lot of hives and certifications. Internationally, as of today, almost all that documentation trail back to the local farmers and beekeepers is paper-based and manual. You make it all digital from start to finish. Still, even if the original certification is paperbased, we know you could scan that on a cellphone, upload it to a secure, shared folder in the cloud, and immediately improve the situation. You could go further and add some document capture software to analyse the certification; you could even create a blockchain hash and ensure the new files are immutable. It's straightforward, fundamental, cloud-based document management. It's the kind of thing our industry has been able to do with ease for over a decade. So why don't people do it? Why do they still rely on paperbased processes? LOOKING PAST THE OBVIOUS There are many reasons, and it's beyond the scope of this article to explore them, but often the number one reason is that nobody told these people you could do this. No vendor has bothered to look beyond the same old business problems to see what new opportunities are out there that they could fix. With a flooded technology market, it should be said, with excellent document processing and automation tools, to survive, many of these startups need to look beyond the obvious and forge business paths elsewhere. In doing so, they will do both themselves and the world a favour. To be clear, it's not that the world as a whole has automated AP effectively and that this is a solved problem. Opportunities are to be had, but they are highly competitive to win. Everyone from IBM & Microsoft, through Appian, UIPath, and Hyperscience, to the traditional document capture vendors are highly active in the AP space. But there are countless other spaces to explore, new markets, new geographies, and yet-to-beuncovered opportunities. You certainly need to do your homework if you want to explore branching out beyond the norm. But whether you work with us to do that or do it yourself, it is well worth the effort. So if you are interested in exploring the automation and IDP markets and options beyond the norm, consider buying a copy of our Intelligent Document Processing Market Analysis Report, or just give us a call and have to chat to see if we can help. More info: www.deep-analysis.net 22 @<strong>DM</strong>MagAndAwards <strong>May</strong>/<strong>Jun</strong>e <strong>2023</strong> www.document-manager.com
HD Speed, Intelligence & Unsurpassed Experience UNCOMPROMISED IMAGE QUALITY UNBEATABLE EFFICIENCY UNMATCHED INTELLIGENCE UNSTOPPABLE SPEED UNRIVALED EXPERIENCE CapEx or OpEx use models available* Up to Up to 90% Reduction in Document Preparation 50% Less time spent recovering paper jams 20% Faster than Anything in it’s Class 100% Reuse of separator sheets (optional) * Whatever suits your needs. CapEx or OpEx use models are available. (Operational Expenditure (OpEx) use model providing 100% tax deduction) Consult one of our experts to learn more
Change language