3 Ways Content Services & ECM Can Help in Compliance
Presented by: Ephesoft
Presented by: Ephesoft
I thought I would share out this quick video overview of Ephesoft working with Infor M3 and Xi. It shows an invoice scanning and capture solution, with 3 way PO matching in the Infor M3 product.
With the effective date for the new General Data Protection Regulation (GDPR) fast approaching, now is the time to put in a solid strategy when it comes to documents and images. Organizations not only need to implement process and procedure for handling private information, but also need a firm evaluation of “current state” to understand high risk areas of their business and their understand their exposure. Below are the four key steps, as outlined by Microsoft’s GDPR Strategy, and how you can incorporate a document-centric view within your plan:
Discovery will probably be the most challenging step when it comes to documents and GDPR. When it comes to the enterprise, the vast majority have a large number of document repositories. Just think of the modern workplace, and all the locations where documents reside:
The ability to crawl and identify high risk entities within these locations is critical for compliance. Here is a checklist of required functionality when in comes to a technical solution:
Once a GDPR document inventory is complete, and an organization understands their areas of document risk and exposure, a plan can be put in place to manage and govern the assets of their data subjects. This phase or step within your GDPR document strategy can include the following:
In the protection step, organizations need to put security controls on all documents deemed as high risk. But the protection step also requires thought on future documents, and protecting new private assets. As outlined in “Manage”, an effective document transport technology will identify and route newly ingested documents to a protected resting place. Organizations also need to implement real-time controls for high risk identification and classification. Here are some examples:
The new GDPR standard is all about accurate record keeping, which provides transparency and overall accountability. Knowing all the document types that can be classified as having personal information, and the processes around them, are critical to insure compliance. An audit of policies and procedures is sure to require records of document creation, or ingestion, how it was handled, and where it was ultimately placed under management. All of the technologies mentioned in this article have broad reporting and analytics capabilities.
With the complexities of GDPR, standard reporting wont suffice in most cases, and the ability to perform deep analytics to track and identify key data and documents will be a requirement.
Just a quick post on strategy for GDPR when it comes to the unstructured content that lives within documents. Let me know your thoughts on the topic.
We have had several requests recently to show how we can help in processing contracts and extracting metadata. The below video uses Ephesoft Transact in two ways to process contracts:
Here is the overall Contract Management Solution:
As the looming deadline for GDPR approaches, companies are searching for solutions to address numerous challenges. One of the most difficult is historical digital documents. With most large, global organizations having at least 10+ repositories, how can you engage in efficient discovery to find high risk data in the form of documents? This video shows the power of Ephesoft’s GDPR Solution for Documents, Insight.
Let’s face it, manual data entry is an efficiency killer. And in the world of ERP and CRM systems, the amount of data required to properly create an entity (Accounts, Contacts, Agreements, Work Orders, Scheduling, Tasks, etc.) can be mind numbing. Manual data entry is a distraction from more important work, and is often accomplished in a rushed, “just get it done” state. This leads to errors and skipped fields that can be important to an organization’s analytics and data strategy. How many important fields in your own system are blank? Are records properly related? Automating these mundane tasks has 3 core benefits:
In a recent study by CapGemini, 86% of respondents agreed that process automation can reduce costs and risk, and aids in compliance. 89% believed that using process automation increases the quality of work. So we know the downside of manual entry, and we know the upside of automation. What is the shortest path to a solution? I would argue documents.
In the demo video below, I use a signed agreement (In the form of a PDF), to drive automation. The solution uses Ephesoft to classify the agreement type and extract all the pertinent data. It then uses a combination of Microsoft SharePoint and Flow to facilitate the auto-creation of Dynamics CRM entities, with zero manual data entry. You can watch the overview and video below:
We launched the first fully functional Capture as a Service (CaaS) offering in Microsoft Azure this week at the Microsoft Inspire Partner Conference. We were helped along the way by one of our larger partners, that had high demand for Capture as a Service, and we were seeing more and more requests for the intelligent processing of unstructured data in the Cloud. Below are some core benefits of our cloud offering:
Time to Value – On-premise software implementations can be a long-term journey and require additional budget for hardware, IT resource time and long budget cycles for capital expenditure approvals. With the Ephesoft Transact Cloud, your time to value is minimized and your intelligent capture platform can be up and running in a fraction of the time. Want to see how you can calculate a quick ROI on CaaS? See our recorded webinar here: The Ephesoft Effect
Cost of Ownership – Software as a Service (SaaS) reduces the overall solution cost of ownership by including support, and eliminating the need for hardware, backups, monitoring, dedicated administration and overall management. By including these costs in one recurring fee, complexity and overhead are reduced, and IT spend becomes more predictable.
Competitiveness – No longer is intelligent document capture only for large organizations with an army of IT folks. Now smaller organizations can have access to enterprise-class technology, and glean the all the advantages and efficiency to stay competitive, and challenge their larger rivals.
Gartner estimates that the annual cost of owning and managing software applications can be as much as four times the cost of the initial purchase.
Access to Innovation – with SaaS, access to the latest and greatest software is included. As Ephesoft improves its processing engine, you can immediately take advantage of the added efficiency. Your subscription provides continuous value, and appreciates over time as more features and functionality are added.
Scalability and Agility – the Ephesoft Transact Cloud is built for maximum scalability and agility. You can easily add more cores, features and processing power, depending on your requirements and needs. You can start small, and grow with our flexible subscription model.
Capture Anywhere – with the Ephesoft Cloud provides intelligent document capture anywhere, on any device. You can automate document processes with a browser, a smart phone or a tablet. This allows todays distributed workforce to access all the benefits Ephesoft can provide.
Read more on our offering in the Cloud here: Unlocking Unstructured Data: Document Capture, OCR and Scanning in the Cloud
We had a great webinar this past week, all about using the efficiency and automation in Ephesoft to drive reduction in errors, and cost savings. This rings especially true in the complex, unstructured world of invoice scanning and capture as it relates to software. See the webinar below:
We are ramping up our team for the Microsoft Inspire Conference (Booth 1237) in Washington, DC in a few weeks (July 9-13), and I thought I would put together some ideas on the power of Ephesoft technology when combined with Microsoft technologies. We have been working with several Microsoft Teams (Azure, SharePoint, Flow) to bring solutions to market, and provide extensive document-centric solutions to their partner and customer ecosystem. So how do we fit? I will outline a quick primer.
Ephesoft was founded in 2010 by leaders from the document capture industry that wanted to drive innovation and disrupt the legacy document automation space. The company has shown explosive growth through its unique perspective on taming unstructured content using patented complex analytics and machine learning. Its technology has garnered broad interest, and investment from top-tier firms like Fujitsu and In-Q-Tel.
At the heart of Ephesoft Technology is an engine that provides automated document classification and data extraction. Feed it documents from any source (fax, scanners, copiers, folders, legacy ECM systems, mobile devices, repositories) and it will do all the heavy lifting – sorting, separating, classifying and getting you the data you need to drive efficiency, productivity, automation and decision-making with minimal end-user intervention. Providing SaaS and PaaS solutions, and available on premise or in the cloud, the Ephesoft platform can provide great value to any size organization. Ephesoft has two products:
Ephesoft Transact – a transaction document capture platform for day-to-day document processing.
Ephesoft Insight – a document analytics platform for ingesting large volumes of existing unstructured content and extracting meaning.
Think of Ephesoft as an added intelligent document automation layer that can be placed on top of other technologies as a catalyst for automation. Below is a list of core technologies from Microsoft, and how Ephesoft can fit from a business perspective.
With SharePoint, Ephesoft Transact can be an intelligent on ramp for documents into SharePoint libraries. As a front end loader, Transact can auto-identify and route documents from just about any source, and make sure they wind up in the right library, as a searchable PDF, with all the important metadata extracted. It provides a standardized, repeatable process for adding any type of document to Microsoft SharePoint.
With Ephesoft Insight, SharePoint libraries can now be consumed and leveraged for Document Analytics. Insight provides the “document side” of the analytics equation.
You can get more information here:
Utilizing Ephesoft Web Services in the cloud, you can add intelligence to any Microsoft Flow workflow. Using the classification or extraction services, you can use Ephesoft Transact technology to “open up” documents mid-process, and make workflow branching decisions based on what you find. An example of a Flow use case here:
ERP and Accounting systems can leverage the power of Ephesoft in many different ways. As a processing engine, Ephesoft Transact can extract information from critical documents, like invoices or sales orders, and pass the information on to Dynamics. No longer will employees have to hand key information, and waste precious time. Along with time savings, data entry errors can now be eliminated through Ephesoft Transact’s validation and exception processing capabilities. More info:
Document capture and automation is a great fit for the cloud. Ephesoft’s web-based technology and RESTful APIs are cloud ready, and are available in Microsoft Azure. As a Cloud Infrastructure partner, Ephesoft has worked diligently to insure compatibility with Azure, and also to take advantage of all the cloud has to offer from a scalability and availability perspective. Read more on Ephesoft’s cloud platform:
This is just a short list of possibilities. Ephesoft’s products are built for partners, and have an open architecture to facilitate the building of portable solutions to add value and drive revenue. Come see us at Inspire (Booth 1237), or reach out to us directly for more information: Contact Us.
Our marketing department has been putting together some great resources on the advantages of a true, modern digital transformation platform when it comes to document processing. Below are some snapshots from the new collateral.