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For years, companies have been working on the formalization of their processes, supported by technology, as in the case of BPM (Business Process Management) solutions. The trend in the latter is to start giving autonomy to these already formal processes, also with technology, such as BPA (Business Process Automation). This is a further step in maturity as a company, helping organizations to improve their efficiency and productivity, reduce costs and eliminate errors that can cause delays in task performance.
One reason to automate processes is to reduce supplier invoice processing time. Implementing Dost reduces document management time by up to 85% and improves the efficiency and productivity of the finance department.
Evidently, there is a significant decrease in the time dedicated to the control and revision of received invoices. In addition, time is saved in digitization and classification.
By eliminating human errors, we save a lot of time in resolving logical errors in mechanical, repetitive and worthless tasks. Automation is key to avoiding human error; even the most diligent workers can make mistakes when entering data manually. Repetitive tasks bore employees and make them vulnerable to making mistakes, especially when dealing with large volumes of data processing.
Process automation is one of the most important topics in any company today. Digitalization has not only reached the offices, it is also present in the daily lives of employees and entrepreneurs.
Saves money and resources that can be invested in other activities
It saves time, increases effectiveness, improves quality and allows you to achieve results much faster. In addition, it improves the productivity and competitiveness of your business.
Manual data entry is a high economic cost in the finance and accounting department, with an added risk that errors in manual data entry can affect accounting reports, budgets and other types of reports.
Process automation reduces and simplifies operational tasks, allowing you to increase productivity and improve your profitability. In addition, thanks to its artificial intelligence, Dost helps you reduce the time and cost of processing vendor invoices.
According to the study "Automatic invoice processing: state of the art and trends" by the IIR (Institute of Languages and International Relations), 80% of companies receive their invoices on paper and most of them still digitalize them for processing. This inefficiency affects the finance and accounting department, especially in terms of cost to the company.
Suppose you want to increase your productivity but don't know how to do it. One way is to eliminate repetitive and/or manual tasks that take up most of your time. Process automation allows you to achieve this goal by eliminating the need for repetitive and tedious activities, such as manual data entry or daily review of accounting reports.
Automates repetitive and non-value-added processes for the enterprise
Currently, the degree of development of intelligent process automation has not yet been sufficiently strong within companies. This is because it is a technology that has only appeared in the last few years, although it is growing incredibly fast.
When we encounter companies that have been working for years with an old technology, such as OCR, which became widely available to companies over the past two decades, it is very easy to demonstrate the added value that Artificial Intelligence is capable of adding to document processing.
Hyper-automation must be valued from the human point of view in order to multiply its effectiveness. Previously there was a learning curve, inefficiencies, mistakes and knowledge that was lost. At the end of the day, this is not efficient for the company, being more costly and irregular, generating no competitive advantage.
Today, thanks to IPA, the automation of repetitive tasks supported by software is being applied to companies. On the other hand, artificial intelligence performs different functions within the company, and this case mainly allows us to analyze and reach much more data than a worker, information that later people will use to value.
The main advantages of IPA are found in its ability to be replicated in different companies, without the need to go through a period of uncertainty, a process that is understood as similar and with common characteristics that can be applied in a first and a second company.
In terms of productivity, it works every day of the week, every hour of the day. In addition, these automation brains have globalized improvement, a concept that means that the more times a brain is confronted with a repetitive task in different situations, the smarter it becomes, applying improvements captured from stimuli in different companies.
This technology, at the end of the day, allows us to automate a series of processes that are tedious for the worker. In addition, the tasks covered by this type of software in SaaS format, are manual tasks and of no value to the company. Here we are looking for the employee to work on the selection of documents from the digital brain, thus collaborating closely with the person.
This impacts companies in a positive way, making the worker feel more valuable in terms of productivity, leaving aside the manual data entry to ERP and generating a sense of competitiveness. Increase productivity and reduce costs of your company's backoffice activities.
90% of companies have not yet digitized their document management processes. Achieving automation is an added challenge, but when you do it helps ensure that all data is correct and stored correctly.
Centralizes invoice processing on a single platform
We still remember during the early years of SaaS (Software as a Service), when many companies still confused the concepts between hosting, infrastructure as a service and software as a service.
It can be said that we are now all educated in the concept of software as a service and it has allowed emerging companies, such as DOST, to offer the full power of their service in a subscription mode with total independence of the infrastructure and in many cases without the need for an implementation project.
SaaS is undoubtedly one of the most important technological revolutions we have experienced. And not only will it stay where we are, but it is predicting a growth of more than 20% in its use during 2022. This is partly due to the fact that companies have seen in this model the best way to make their investments more flexible by providing functional tools that do not hinder them in the future.
What is it to centralize invoice processing in one platform? When we talk about integrations, we refer to the automatic connection between platforms without the need of a third party approving the transfer of data between them. At Dost we have integration with multiple ERP platforms. In this way, through our Dashboard we can take complete control of the processing of supplier invoices, knowing that these data have been distributed to other platforms correctly and with total security.
A digital brain works for you
Artificial Intelligence (AI) is the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings. This is the official definition we received from the dictionary of the British language. As you can read behind it, it has the connotation of using a cognitive part to make decisions.
How did we get to this evolutionary point in the world of information systems and computing so that in some cases it is capable of performing the tasks that a person performs on a day-to-day basis, but in a much more efficient, error-free and faster manner?
To talk about all this we always have to cite the example of Alan Turing who is the precursor of modern computing as we know it today. Without his machine for deciphering coded messages, all the basic theories and technologies that support artificial intelligence would not be possible. But since the end of World War II until today there have been many evolutionary changes that have allowed us to reach this state of the art in which many times we are not able to discern whether we are interacting with a human being or a computer.
In addition to the exponential increase in computing and storage capacity that computing has been undergoing, complying with Moore's law, the most relevant fact in recent years has been the development of the Cloud as we know it today. Without this exponential computing, storage and pay-per-use capacity, it would have been difficult for companies to develop the cognitive capacity on which concepts such as machine learning and neural networks are based.
At Dost, we firmly believe that artificial intelligence applied to process automation generates sustainable competitive advantages for companies. And this is due not to the technology itself, but to the effect that technology has on human beings. The example is clear if we use artificial intelligence in those repetitive tasks that require a certain cognitive capacity to be automated, but which in turn represent a low value to the company, i.e. they are support processes. Humans will be able to focus on tasks that are really valuable, in addition to obtaining much more information from all their processes through this artificial intelligence. Therefore, we will transform the roles of information mechanizers to supervisors and decision makers.
There is a clear tendency to be afraid of these technological changes, but if we look back in the history of mankind, there is no industrial revolution in the past that has not led to an increase in jobs, always eliminating inefficient jobs, but creating new roles and jobs that really make us take a quality leap into the future.
Leveraging artificial intelligence today is no longer a future wish but a reality on which all companies must bet.
The question is, are you ready to leave certain tasks in the hands of artificial intelligence?