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Top 5 Paper Centric Processes to automate using RPA and AI
Top 5 Paper Centric Processes to automate using RPA and AI

July 29, 2022

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For a moment, think back to what it was like to conduct business in the 90s. At that time, most businesses and organizations used to run on paper-based processes. From managing interoffice paper trails to handling data management used to require a dozen people to extract and process data. Back to the present, do you think sharing and processing data with dozens of people is feasible in the era of digitization? 

 

The answer is “No”. Paper centric process leads to varied challenges like:

  • High manual effort for data extraction
  • Higher turnaround time in processing data 
  • Security breach issues and 

 

But, thanks to technological advancements, we have and are evolving from paper-based processes to digitization with faster data processing. Multiple organizations are leveraging intelligent data processing by leveraging RPA and AI for speedier data extraction and processing. Utilizing RPA and AI not only replaces the paperless trends and manual effort but also helps in creating the most efficient and designed workflow automation. But what paper-centric processes must you use, and how to automate them? Let’s dig more to learn the top 5 paper-centric processes for better efficiency and productivity. These paper-centric processes include:

 

1. Account Payable

The account payable process basically covers three main components. These components are-

  • Extracting invoices and receipts from multiple systems
  • Matching the data and invoices for further payment
  • Archiving invoices for audit management

For a single document performing the above tasks is a child’s play. But, when it comes to handling high-volume invoices, accessing and processing them for multiple purposes requires a lot of time and manual effort. But, utilizing RPA and AI helps organizations cut down the extra time and effort implemented in invoice processing and sharing data for payment and audit management. In addition, the intelligent document processing solution can easily extract unstructured data from voice, text, mail, and chat and process them in structured format autonomously by creating a seamless flow of information between systems.

 

2. Claims Processing

Claims processing requires the manual and repetitive tasks of contacting the broker, investigating the claims, reviewing the policy, assessing the damage, and then processing payments. And insurers always struggle to manage a massive pile of paper documents for data entry and verifying claims before proceeding further. Utilizing artificial intelligence and RPA can help them extract, organize and review them autonomously for processing claims at a faster and more efficient speed. Intelligent document processing simply streamlines the application review during claims and boosts customer experience by providing faster resolution. Also, RPA and AI free up the employees for handling human-centric processes like improving client response times and streamlining the knowledge capture process. 


3. Employee Onboarding

No matter which industry you belong to, employee onboarding is a gigantic task for HR employees. Newly hired often have to go through a lot of paperwork like health insurance, direct deposit slips, tax forms, and training manuals. Keeping track of all these processes is a headache for HR departments. But Ai has the solution. Leveraging RPA and AI combined bot and workflow automation can help enterprises to create a predefined workflow for employee onboarding. RPA bots can share important forms and details with newly hired with full encryption without any manual intervention. Also, RPA bots can create auto-reminders for IT, accounting,

 and HR employees to make sure all accounts are set up and administrative tasks are completed. 

 

4. Audit Report Generation

To make sure data records are in compliance with the company regulation auditor requires access to a deluge of documents or records. These records may include payroll, business contacts, and financial statements. If, in any way, the company structure is disorganized and unable to provide information instantly, you might run the risk of being non-compliant. Using the data management system with a combination of AI technologies for converting records into a searchable format to retrieve the data in just a few clicks of minutes. Also, auditors can use the audit trail feature to give full visibility into which employees can access the documents, when these were updated, and what changes are made. 

 

5. KYC Process

The KYC process enables your organization to make sure the right person is working in their organization. A poor KYC check process can cause serious damage to an organization's reputation, especially when it comes to the banking and financial industry. Also, the KYC process involves multiple spreadsheets, AADHAAR copies, and other records for verification. Extracting the right information is vital to make sure there is no fraudulent activity. And to make the KYC process efficient, RPA and AI are a blessing in disguise. Utilizing intelligent document processing tools can help process KYC faster with easy data extraction from even unstructured data format files. Utilizing OCR, NLP, and AI, organizations can autonomously scan documents, cross-check data, perform validation and create automated data entry for easy KYC process checks. 

 


Technological advancements are on edge to transform operations all across the enterprises. It's high time to take one step forward to ease the manual load and enhance efficiency. Automation is one step to making revolutionary changes in the paper-centric process and transforming them into automated ones for a better and streamlined workflow. 

 


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