| | AUGUST 202119Processing tool ingests the data, auto-classifies the document, moves the data to the core system through staging, and the digitized asset to Cloud ECM storage, from where it is accessed by the assessors. The process is culminated in a few of days as against a number of weeks earlier and improves efficiency.· ContractsBefore: Long winding contracts are not easy to read and decipher. The legal and procurement teams have to read them many times over to extract key points especially during due diligence.After: The solution extracts key terms from the document during the ingestion process itself, which is then attached as a summary and metadata to the digitized document before storage. The summary is linked back to the main pages to read the finer details of the contract. This auto-summarization allows the legal and procurement teams to understand the details of the contract within a short time. · Video Know Your Customer (Video KYC)Before: KYC is a highly confidential and sensitive process that needs to be initiated periodically in all BFSI enterprises. The paper based process usually captures the name, address, contact details, social security number, passport number, signature and much more depending upon the prevalent laws and statutory requirements. This data is available for unauthorized access and to all the hands through which it finally reaches the files.After: Intelligent Automation enabled Video KYC over the Cloud bypasses the entire manual data capture journey executed through a paper form. In this intelligent process, as soon as a customer registers online for a particular service, a pin and Video KYC link gets triggered to a bonafide bank executive and the customer. Both of them then use their pins to join the call. The bank executive captures images of the statutory support documents, signature, etc. The confidential data is auto-captured and moved to Cloud ECM repositories through Cloud Staging. Once the data is integrated in the core system through the RPA component a KYC completed email is triggered to all the stakeholders.· Patient On-BoardingBefore: The process takes a lot of time for data entry and onboarding at a point when time is very crucial. Moving patients between different facilities for advanced care also consumes time due to long on-boarding processes.After: The intelligently automated process eliminates delays caused during onboarding. Defining common fields and mapping the rest of the fields through Intelligent Automation allows faster information dissemination between healthcare facilities with improved STP. It allows the healthcare workers to digitally review the case quickly beforehand.Benefits · Template free: Ingests any type of document without a template due to the AI / ML algorithms.· High scalability: Offers high scalability and reach due to the intelligent automation and cloud combination and handles increasing workload with ease.· Multi-structured data: Allows to manage any type of data with ease and at high speed.· Interoperable: Integrates data with any downstream system, including ERP, cloud, mainframe, etc.· High STP: Provides high STP and avoids rework, translating into savings in operational expenditure.· High efficiency: Improves throughput and efficiency allowing executives to handle increasing workload with ease.· High accuracy: Offers high confidence level in data capture and improves accuracy.· Easy to use: Provides an intuitive interface that facilitates easy and faster data capture.Simply Put Cloud-based Intelligent Document Processing allows to expedite processes even in a paper workflow based environment. Improves turnaround time with long winding processes involving globally working teams. It reduces scope for error and retains confidentiality of information. Shashi Bhargava, Executive Vice President - Solutions & Products,
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