Author: Automation Hero

  • Why financial services need automated processes

    Jan 19, 2022 by Automation Hero

    Growing pressure for profit, skilled labor shortages, and competition from the fintech industry have combined to put immense pressure on financial services and banking institutions. Now, maximizing efficiency and reducing costs isn’t just a goal — it’s mandatory for organizations to thrive. Robotic process automation (RPA) has transformed the way these organizations get work done, but a new generation of intelligent process automation solutions are taking these benefits even further. 

    In the past, projects involving customer onboarding, reporting, loan processing, opening accounts, and other basic functions, were incredibly cumbersome and labor intensive. When know your customers (KYC) and anti-money laundering (AML) compliance processes became more intense after 9/11, these challenges became even worse. RPA allowed banks to hand over the most time-consuming tasks to an unseen “digital workforce,” that completes processes more quickly and with greater accuracy, without incurring additional labor expenses or losing motivation.

    This has set the financial services industry on a completely new trajectory. McKinsey found that RPAs can “fully automate” about 42% of finance activities, and “mostly automate” an additional 19% of tasks. Now, most companies in the financial services sector are automating half of their business processes, leading to massive savings. In fact, Everest Group found that the top implementers of RPA have earned nearly 4x on their investments. 

    RPA is no longer enough

    Unfortunately, RPA still leaves a lot of grueling work to be done manually, especially in terms of document processing. While RPAs can automate tasks like approvals or routing, a lot of the initial capture and data extraction must still be done manually, requiring human workers to get data properly formatted for the RPA to actually process. This can be a huge drain on time and other resources, and bog workers down from doing more important, revenue-driving tasks. 

    Projects involving customer support, responding to emails, approving applications, and organizing paperwork can slow to a crawl. This can have a major impact on customer satisfaction — especially as front end processes become easier and faster thanks to the proliferation of responsive fintech apps. 

    How intelligent process automation closes the gaps

    Fortunately, next wave automation platforms like Automation Hero are emerging to streamline data extraction. After RPA, software engineers began developing intelligent document processing (IDP) platforms that could automate input processes. These systems use optical character recognition (OCR) to “read” virtually every kind of document (including images), extract data, and format it for processing by users or RPAs.

    Automation Hero is versatile enough to extract data from virtually any kind of document, including PDFs, emails, Word documents, scanned contracts, digital forms, and beyond. This lends the platform a number of incredible use cases, including:

    Beyond providing these IDP capabilities, Automation Hero serves as a complete end-to-end solution that can act upon the data it extracts from documents for further processing and routing. In fact, Automation Hero’s advanced, deep learning AI can complete the entire document cycle and learn to improve its own performance over time. 

    Most importantly, none of this comes at the expense of an organization’s existing systems. As an intelligent process automation solution, the platform can integrate seamlessly with another RPA to fill in performance gaps until customers have the time and resources to transition out of it. Once ready, Automation Hero can work as an entire enterprise AI system with even more capabilities than other solutions. 

    Automating processes in the financial services industry can be incredibly challenging, with so much red tape and compliance to navigate, but Automation Hero meets customers exactly where they are for a frictionless process.

  • Why it’s time to leave behind your legacy RPA | Automation Hero

    Jan 17, 2022 by Automation Hero

    When robotic process automation (RPA) systems were introduced to the business world in the early 2000s, they saved workers from some of the most mundane work imaginable. Things that now seem to happen automatically, like paychecks hitting accounts or emails notifying that an order has been received, used to require diligent execution by human workers. 

    Without a doubt, RPA has improved the way we live and work. But automation’s capabilities have advanced far beyond what legacy RPA can offer. Newer technologies like artificial intelligence (AI) and intelligent document processing (IDP) have combined to offer complete end-to-end automation services, increasingly referred to as intelligent process automation. 

    Even if you’re pleased with your current RPA solution, if that’s all you’re using, you’re leaving an unprecedented level of efficiency and cost savings on the table.

    What you’re missing without intelligent process automation

    Platforms like Automation Hero that use intelligent process automation combine the best aspects of RPA, IDP, and AI into one single, cutting-edge product. While many systems out there added some of these features throughout the years as they became available, Automation Hero was built from the ground up with these capabilities. Some of the most noteworthy benefits include: 

    Fast and frictionless implementation

    If you were at the company when your RPA was initially set up, you probably remember how much time and money it took just to get it up and running. Legacy RPA operates off of diligently built templates, and any deviation could result in complete system failure. Meanwhile, intelligent process automation platforms like Automation Hero are easy to set up and deploy, with no need for coding, or even IT support. 

    AI models built with zero or minimal training

    The deep learning AI that runs Automation Hero is so advanced that it can simply look at your historic process data to build accurate and effective automations. Even better, the platform can leverage its growing insight over time to improve processes and identify other opportunities for streamlining as well. Best of all, even if you’re starting from scratch, the platform can build robust workflows with virtually no input or pre-training. 

    A full end-to-end platform

    Some legacy RPAs have grown over time to offer IDP and other more advanced features as they’ve become available. However, a great number of RPA systems haven’t changed at all. One way workers overcome those limitations is purchasing separate IDP and other automation programs, and finding ways to incorporate them into their existing processes. This can create a number of challenges that can eat up significant time and resources — both in initial setup and to fix inevitable problems that arise. Automation Hero offers all of the most advanced IDP and AI functionality in its core build. No upgrades necessary, and no need to purchase add-ons or product expansions. 

    Near limitless integrations

    Automation Hero features an unparalleled number of integrations with third-party applications, including email programs, file management systems, and databases, allowing users to create automations for virtually every area of their business. Beyond just document processing and workflow management, Automation Hero is designed to bring the benefits of AI to entire enterprises. 

    An intelligent process automation platform that grows with you

    Automation Hero’s versatility allows users to deploy it as a solution to fill in gaps created by their existing RPA, or replace everything as a complete, end-to-end intelligent automation solution. Truly designed to meet every user’s needs, the platform doesn’t require a heavy upfront investment of time or money. Pricing is entirely consumption based, so users only pay for the automations they actually use, as they use them. This allows organizations to stay nimble and see nearly immediate ROI. 

  • Process invoices smarter with intelligent document processing

    Jan 10, 2022 by Automation Hero

    Robotic process automation (RPA) is a major time-saving and productivity enhancing tool for organizations of every size. The technology allows users to step away from manual, rules-based business processes and let them be handled by programming scripts. Virtually any task that doesn’t require creativity or complex decision-making can be fully automated. Best of all, RPA can complete workflows in a fraction of the time it takes humans to do it, with less chance of error, and no deviation or burnout.  

    Accounts payable departments in particular can benefit from automation. Goldman Sachs estimates that it costs businesses $16 to $22 in labor to process each invoice. When automating these processes, those expenses fall a shocking 60% to 70%, down to as little as $5.89 per invoice. However, even with all the benefits it brings, many AP departments are struggling with their RPA.

    Invoice processing automation: the problems with RPA

    RPA is limited only to following scripted procedures. It doesn’t have the ability to understand any documents its processing or develop context for any data. As a result, users have to manually build templates for RPA to follow whenever they interact with a document. If any documents that enter a workflow don’t fit that template, the automation will process it incorrectly or even stop working. 

    Aside from document templates, scripts must follow a specific set of sequences in order to execute correctly. They can be quite time consuming and expensive to set up, often requiring high-level IT support to implement. Even worse, it can take months of research and testing to get a process to work properly. 

    Unfortunately, businesses are changing at a rapid pace, so templates and processes might not be relevant for long. Because of the high upfront costs to implement RPA, workflows may need an update before the user has even seen a return on their investment. To control costs, many AP departments opt for a Band-Aid solution instead of investing in a full overhaul. As this happens more and more over time, RPA can become like an unwieldy Rube Goldberg machine that’s almost as time consuming to manage as invoice processing manually. 

    Automate invoices smarter with intelligent document processing

    Intelligent Document Processing (IDP) is a type of automation solution that can capture, extract, and organize data from almost any kind of source, including physically printed text and images, PDFs, emails, submitted forms, and even handwritten notes. This has been an incredible boon for AP departments, and when paired with a properly functioning RPA, it can improve productivity even more. Some of the benefits include:

    Greater Labor Efficiency

    IDP systems use optical character recognition (OCR) to extract text from documents and then process it into usable data. This makes the capture stage of invoice processing much faster so AP professionals can get through the review process in a fraction of the time of a manual workflow.

    Reduced Human Error 

    Minimizing human touch points also reduces the risk of human error. It can be easy to misread numbers, make typos, or misunderstand invoices — especially during busy, high-volume seasons for AP departments. IDP removes a lot of the manual labor that goes into processing invoices so users can focus more on critical decisions during review. 

    More Cost-Effective Processes

    IDP extracts and processes data quicker than humanly possible, without getting tired or needing a break to maintain focus. When you remove tasks that can cause or give opportunity for workers to procrastinate or lose focus, everything goes quicker — including how soon an invoice is paid out. Greater efficiency translates to greater profits, since cost of labor goes down and invoices can be processed on time without incurring late fees. 

    Next-gen invoice processing automation with modern AI

    Automation Hero is a new kind of automation platform that builds upon the best aspects of IDP and RPA in order to take them to a higher level. Powered by deep learning AI, the platform breaks free of templates and is able to contextualize any kind of data for faster processing. Automation Hero is versatile enough to add on to your existing system and improve its performance, or serve as a completely standalone, end-to-end invoice automation solution to managing all of your invoice processing.

    Learn more about how Automation Hero can streamline your accounts payable department in our new eBook covering invoice processing automation.  

  • IDP for invoice processing automation is improving labor efficiency

    Jan 10, 2022 by Automation Hero

    Technology has taken accounts payable departments a long way since the days of the paper-driven office. In the past, processing invoices was a labor-intensive job, demanding hands-on attention from accountants who had to match purchase orders with payment requests, manually validate information, and send approval requests up the chain of command for further review. 

    Now, the majority of AP professionals have discovered the benefits of invoice automation. In fact, a survey by the AP & P2P Network found that 70% of accounts payable departments have automated their invoice processing. Of the respondents, 25% have gone as far as to completely eliminate paper and other non-digital touchpoints.

    Achieving Next Level Efficiency With IDP

    Automation programs have removed a lot of the busy work that goes into invoice processing. For environments where paper invoices are still in circulation, programs can automate image capture to create digital copies, queue invoices for faster review, and automatically route documents to appropriate decision makers. These systems often merge purchase orders and invoice records together so there’s no need to do any matching or verification. 

    What if there was a way to eliminate busy work?

    Intelligent document processing (IDP) is a technology that can replicate (or come close to imitating) the way humans understand information — and further add to the benefits of invoice automation, drastically improving labor efficiency. This frees AP professionals to focus on more important tasks, such as responding to vendor inquiries or further improving processes.

    The biggest benefits are:

    Optical Character Recognition

    Optical Character Recognition (OCR) can transform any words and images from printed documents, PDFs, and other digital formats into machine-encoded text or data. Some more advanced systems can even read and convert handwriting. This virtually eliminates manual document processing because systems that use rules-based logic can automatically sort or label the captured data.

    Reduced Human Error

    The fewer human touch points there are in a process, the fewer opportunities for human error. Workers are most likely to make data entry errors when they’re busy — especially if they’re engaged in boring and repetitive work. IDP takes over a lot of the menial mental labor that AP professionals used to engage in, freeing them to spend their time more productively. Even better, IDP completes data capture tasks faster than a human ever could. 

    Greater Scalability

    When AP departments manually process invoices, more invoices automatically translates to greater need for labor. With IDP implemented, these systems can process a few hundred invoices almost as fast as they can a few dozen, with virtually no increased demand on workers. This allows companies to maintain productivity even during busy times for AP departments, without any disruptions or need for extra help. 

    IDP Leaves Room for Improvement

    For all the ways IDP improves productivity, it can be a struggle for AP departments to completely end manual processing. Much of this is due to legacy IDP systems’ dependency on templates to correctly label or contextualize the data it extracts from an invoice. If every invoice is formatted exactly the same, it will be easy for the program to understand who the payee is and how much they’re requesting. However, when formats vary, the IDP can misunderstand information and completely cancel out its benefits.

    Editing current templates or creating more can require a lot of skilled labor and be quite expensive to set up. On the other hand, changing organizational processes to ensure every incoming invoice is formatted exactly the same can eat up even more resources. Plus, there will always be exceptions that require hands-on processing. 

    The Next Generation of Invoice Process Automation

    A new generation of IDP solutions are equipped with unprecedented machine learning capabilities to recognize and act on more data faster and with greater accuracy.  Automation Hero is powered by a deep learning AI and serves as a complete end-to-end solution. With a form-agnostic approach, the system can recognize any type of document and automatically contextualize data without the need to manually build a template, making it ideally suited for complex invoice management. With its self-serve and pay-as-you-go model, you can even scale the platform to handle other AP processes as needed. 

    Learn more about how Automation Hero can streamline your invoice workflow in our new eBook

  • Intelligent Document Processing is Changing Accounts Payable

    Jan 10, 2022 by Automation Hero

    When we think of automation, we often picture robots in factories, or self-checkout stations at the grocery store. Where we don’t envision the technology is in accounts payable departments, even though they are among the biggest benefactors of a movement toward more efficient workflows. 

    According to the Institute of Financial Management, 77% of surveyed accounts payable departments have already invested in some form of invoice processing automation software, as well as other workflow automation solutions. This has led to untold improvements in productivity, worker engagement, and even profitability. 

    But traditional automation capabilities, like those offered by robotic process automation (RPA), still require time-consuming manual tasks, especially when it comes to processing information. What if there was a way to close the gap for more end-to-end automation? 

    Leveling up automation with intelligent document processing

    Intelligent Document Processing (IDP) is a category of automation solutions that can capture, extract, and organize data from a wide variety of sources, including printed text and images, digital documents like PDFs, and even human handwriting. Software like Automation Hero can do this, plus input it into a  workflow for complete end-to-end automation.  

    A survey by AP & P2P found that only 30% of invoices that respondents receive from their vendors are in a digital format, leaving 70% that require some degree of manual uploading prior to being processed. IDP drastically reduces the amount of tedious work accounts payable professionals have to engage in, and it can easily digitize and contextualize a lot of the data that RPA fundamentally can’t understand, enabling even more end-to-end automation. 

    The top IDP benefits of accounts payable are:

    Enhanced Productivity

    How much time does your team spend manually reviewing invoices, even when you have an RPA or other automation system in place? Are there any busy seasons when this gets especially cumbersome? When IDP is implemented in your process, it can cut down the time-consuming mental work that goes into capturing, converting, sorting, responding to or routing data, and streamline it into a process that just takes a few clicks. This leaves your team with more time to focus on important or critical tasks.  

    Increased Approval Speeds

    Most payment delays don’t come from lack of funds — they result from labor constraints. Unfortunately, when invoice approvals get backed up, it can harm relationships with vendors. IDP removes a lot of the time and effort barriers that can lead to these delays, so it’s easier to make payments on time with less risk of human error. 

    Insight Into Processes

    How much time does it take to process each invoice? Unless you’re timing a worker with a stopwatch, you probably won’t know exactly how long the work takes outside of your RPA. With IDP implemented, more of your accounts payable processes are measured by machines, giving you insight into how long everything takes — as well as what you might change to smooth things out. IDP can complement your RPA and in turn save a lot of time by removing your manual processes, but when you streamline the work these systems need to do, you can reach new heights of efficiency.

    Automation Hero: Truly intelligent IDP for accounts payable

    Not all IDPs are created equal. Legacy systems rely on templates for accurate data labeling, which doesn’t work for companies that process many different invoice formats. Newer programs allegedly use artificial intelligence, but they’re incredibly expensive and labor-intensive to set up, and are limited to only a few IDP functions, such as OCR and extraction, or classification.  

    Automation Hero is a new kind of automation platform, powered by deep learning AI, to build upon the capabilities of RPA and IDP with a single, end-to-end system. Free of templates, Automation Hero can read and contextualize any kind of data, and learn from users to quickly improve accuracy. Incredibly versatile and even multilingual, the platform can plug into your existing systems to streamline processes, or serve as an entire enterprise management dashboard. With a consumption-based pricing model, you only pay for the automations you use. 

    Learn more about how Automation Hero can streamline your accounts payable department in our new eBook covering invoice processing automation.

    Unlock the intelligence in your documents with our AI-driven automation today

    Learn how we helped Markerstudy reduce its claims processing time by 40%. Additionally, learn how we reduced total claim processing time by 80% for another multinational insurance partner — cutting down manual tasks from 10 minutes to just two minutes per claim.

    • Speak with an expert — tell us about your specific use case.
    • Get a personalized demo — schedule a demo, and our Heroes will get in touch!
  • How to create invoice workflows with automated integrations

    Jan 10, 2022 by Automation Hero

    Invoice processing automation has been one of the biggest breakthroughs for accounts payable departments since the advent of computers. Digital approval workflows have reduced the amount of labor that goes into processing each invoice by cutting out steps like manual notifications, routing and identifying expensive errors. But as high-volume accounts payable teams already know, the work of processing invoices begins before a document is ever reviewed. 

    The rise of intelligent data extraction

    In the past, accounts payable departments only had to manage one channel for invoice traffic: their mailboxes. Invoices simply arrived in paper form, and AP employees piled them high on their desks.

    Now there’s a dizzying array of channels for invoices to travel through. Email attachments are one of the most popular invoice submission methods for enterprises of every size, while larger organizations may require submissions through online forms or portals. Vendors regularly deploy file systems, like Dropbox, for submissions. 

    AP departments struggle with two things in this environment: 

    1. Capturing invoices efficiently through all channels
    2. Accurately extracting data from different document formats

    Intelligent document processing (IDP) solutions are a more recent class of automation capabilities that specialize in extracting data from complex documents like invoices and converting that data into a usable format. Optical character recognition (OCR) capabilities allow them to read and automatically convert text from PDFs, emails, images, and even handwritten content. This still leaves considerable work for AP departments to manually capture invoices.

    Unlock potential with automated integrations

    With all the success AP departments have had with approval automation and data extraction, initial capture is still time consuming. Using automation tools that integrate with an organization’s many invoice channels is key to maximizing productivity. At the minimum, they need to have the capacity to access invoices from every source, like email platforms, file systems, ERP platforms, and databases.

    This allows the IDP to read emails, route communications, and download attached files for additional scanning and processing; or review recent uploads to a file system and download invoices for intake — effectively unifying the capture, extraction, and routing workflows. These types of simple automations can save busy departments hundreds of hours per year in processing time. 

    Integrate smarter with Automation Hero

    Automation Hero is one of the most comprehensive and versatile enterprise automation platforms on the market, including its integration capabilities. The service currently has 35 pre-built connectors to third-party applications, but the system can guide users to connect with virtually any standard communication interface, like a REST API, no IT support or advanced computer skills needed. 

    In addition to the common applications that most enterprises use today, Automation Hero integrates with old legacy software that businesses wish they had upgraded a long time ago. This makes Automation Hero a favored platform for organizations that have been slow to adopt automation because disconnected solutions would involve such a massive overhaul of their processes. The Automation Hero platform can extract data from these old legacy systems so customers can move on to more modern software, or continue to work seamlessly with it. Automation Hero even supports complex security

    Other automation platforms can struggle to find documents that have been forwarded between departments, often requiring users to manually save and submit documents as time consuming extra steps. But, data can’t hide from Automation Hero. Especially proficient with processing emails, the platform can extract invoices attachments from chains with multiple back-and-forths — without any loss of information or accuracy. Automation Hero can even handle Microsoft Outlook’s notoriously challenging EML file format.

    Integrations have proven to be one of the final missing pieces for AP departments to fully automate their processes. However, most invoice capture, extraction, and approval workflow tools are separate from one another, creating an unnecessary layer of complexity and risk of technical errors. While Automation Hero can fold into AP’s existing software solutions and existing processes and fill in gaps where it’s needed, the true purpose of Automation Hero is to serve as a complete, end-to-end enterprise automation platform that’s capable of fully unifying and automating the entire invoice processing workflow

    Ready to streamline your accounts payable department? Learn how Automation Hero can help in our new eBook.  

  • Our founder’s fireside chat on claims automation | Automation Hero

    Get tips from Automation Hero CEO Stefan Groschupf from the Claims Innovation conference.

    Jul 20, 2021 by Automation Hero

    For teams inside traditional insurance companies, it hasn’t been an easy few years. The cost of processing claims is rising, while traditional sources of income, like interest from bonds and other investments, are dropping. Not to mention there’s a new crop of digital-first challengers in insurance — companies like Lemonade and Kin — who tout, among other things, exceptionally fast customer service.

    All of this sets up insurers to need a range of new technological solutions, says Stefan Groschupf, CEO and founder of Automation Hero, who spoke in a fireside chat last week at the Claims Innovation virtual online conference. 

    So how can traditional insurers take a more tech-savvy approach? What’s required is a shift in mindset and also a culture shift inside companies, Groschupf said. In a risk-averse industry like insurance, the best way for teams to ease into using new technology like automation and AI is to take small steps toward change and then iteratively learn and improve.

    What’s the potential upside for insurers and claims teams who take the technological leap? The benefits are numerous:  

    • better customer experience 
    • lower operational costs
    • better fraud detection
    • better operational insights into claims
    • lower claim processing time 
    • better employee satisfaction

    Check out our insurance use cases here

    Watch Stefan’s full Claims Innovation talk below. 

  • Why better data handling means better medicine | Automation Hero

    Medken and Automation Hero kick off partnership to improve health outcomes and cut costs in the $3 trillion healthcare industry

    Jun 04, 2021 by Automation Hero

    In a digital era, what’s the hallmark of good healthcare? If you guessed it has something to do with technology, you’d be right. 

    A heap of new studies show that healthcare practitioners make better decisions when they use advanced technologies such as machine learning. New algorithms can help doctors with everything from improving clinical trials for new drugs to detecting heart disease and lung cancer

    But what’s equally important for good health outcomes is how doctors and clinics handle all sorts of patient-related data. 

    When doctors have a more complete picture of a patient’s medical history — including their risk factors for certain kinds of diseases — they tend to make better decisions about that patient’s care. But huge volumes of patient medical information stay locked away inside paper documents and files, stuffed into cabinets inside medical clinics. Even when the information is digitized, there are still plenty of problems with how it’s used, transmitted and handed off between health organizations, especially in the United States, according to a recent study by Pew Charitable Trusts. 

    Speeding up digital transformation

    So what’s the solution? Automation Hero is teaming up with medical software maker Medken to help streamline data handling and speed up digital transformation for healthcare providers. 

    Medken, a Texas-based software company, leads the transformation of industrial medicine into human-centered, evidence-based medicine by providing a platform, tools and components for software developers. This allows them to launch human-centered workflow solutions within a short amount of time. Automation Hero has unparalleled capabilities around converting unstructured data and paper documents into usable, structured information. Together, the two companies have created an automation solution that will help providers improve outcomes and cut costs across the board.

    Privacy matters

    One aspect of the partnership that’s critical to both companies: privacy. Citizens in every country have been concerned in recent years about protecting the privacy of their health data, with many hesitant to share data or be honest with their doctors (omitting family history, past ailments, habits, etc.) so that the details do not go into their data record. Industry watchers have noted that data security is actually one of healthcare’s biggest concerns. This makes it difficult for doctors to diagnose and treat illnesses and in fact contributes to a general information breakdown. If patients can’t openly share because they fear the data will be mistreated, what are they supposed to do?

    In a world of data exploitation, giving people full control over their health data is a matter of dignity. Medken and Automation Hero are committed to data protection above and beyond the requirements of the General Data Protection Regulation (GDPR) in Europe and the Health Insurance Portability and Accountability Act (HIPAA) in the United States. To that end, Medken is a sponsor of an open-source personal electronic health record project by Kailona and brings that expertise to the collaboration.

    What’s at stake

    Why should healthcare companies care about streamlining processes and optimizing data handling? Digital health initiatives not only lead to better healthcare outcomes but also give wider access to care for patients from different geographies and demographics. In addition, they can save healthcare companies billions of dollars in revenue. A recent report from the nonprofit Council for Affordable Quality Healthcare showed that healthcare companies could save $16.3 billion if they streamlined manual work through automation. In the end, privacy-focused digital transformation in medicine means better results for everyone.

    To learn more, get in touch.

  • New comprehensive document processing features | Automation Hero

    3 new capabilities make the platform a self-driving car for documents.

    Apr 07, 2021 by Automation Hero

    Automation Hero rolls out new capabilities around document processing.

    Why is everyone talking about document processing? There’s been an uptick in enterprise-level automation combined with an influx of new documents. At the same time, customer expectations around documents are higher than ever. There’s now serious urgency around turning the world’s unstructured data into usable, structured data, and — as remote work becomes the new normal — fewer people are sitting in offices making this happen.

    What was once cutting-edge for documents just a few years back is now table stakes.

    “The dream is for a computer to be able to view and process the document the way a human does,” says Pyramid Solutions’ automation consultant Stephanie Kiefer, an expert in document processing who follows the field. “There’s no reason why technology can’t achieve that perfection these days.”

    Automation Hero is working to make that dream a reality with three new capabilities in its end-to-end automation platform. 

    Leveling the playing field

    In the past, enterprise companies needed a handful of expensive, hard-to-use tools to process a document end to end. Only mega-companies with an army of developers and data scientists could afford such tactics. With our latest release, we’re helping to level the playing field.

    Our three new AI capabilities can handle structured, semi-structured and unstructured documents with fluidity — meaning they allow limitless possibilities for intelligently automating complex workflows — and still generate extremely high accuracy rates.

    In combination with the point-and-click functionality in our new Flow Studio, the features are easy for a non-technical crowd to grasp. When all this gets rolled into one platform, it makes automation more accessible to all. 

    Our platform can handle a wide range of use cases in the most document-heavy industries — like insurance, healthcare, law, and banking. 

    Keeping humans in the loop

    Automation Hero’s existing innovative user interface effortlessly keeps a human in the loop, so he or she can steer self-learning, stepping in where needed to review exceptions. 

    Our new capabilities 

    Classification 

    Lets you instantly determine the category of a document. What type of email is this? For example, a busy insurance contact center team can spend less time analyzing emails and more time talking to customers.  

    Extraction

    Makes it incredibly simple for non-technical users to retrieve any type of data from a document. Who is the plaintiff in this court document? 

    OCR

    Quickly turns images into text and processable data. This includes words, handwritten phrases or signatures, images, QR codes, checkboxes, and complex tables — with impeccable accuracy. What’s the date on this insurance claim? 

    How it works in the real world 

    Let’s say an insurance customer’s fish tank breaks, causing significant water damage to the floor and wall of her home. 

    The client emails a claim to her homeowners’ insurance company. The email includes a photo of the damage, a receipt, an account of what happened, and an attached policy. 

    Using Automation Hero, the insurance company could instantly:

    → Use Classification to detect the email’s basic content and intent (water damage claim)

    → Route the claim automatically to the appropriate department and flag it as urgent, since water damage quickly leads to other types of damage 

    → Automatically reply to the customer requesting other types of supporting documents

    → Use Extraction to pull data from the attached contract, including a policy number, which could be automatically cross-checked using database lookup

    → Use OCR to extract the amount of the fish tank and record this information as part of the claim  

    In the end, the fish can be saved. And with intelligent automation, both the insurance company and the client save hours of valuable time. 

    (See how we saved Markerstudy and Kin Insurance hundreds of hours of work in their claims processing and underwriting operations.)  

    Where documents are headed 

    Just five years ago, document processing, also called capture technology or input management, was still evolving, with low accuracy rates and limited industry use cases. 

    Now, digital transformation has picked up speed and AI is changing faster than ever. Every year, AI models leapfrog each other, doubling or tripling in accuracy and efficiency. 

    But high-accuracy AI models are just the beginning of the workflow around documents. Companies must harness an end-to-end platform with a range of technologies under the hood to process complex documents efficiently and at scale. As the world gets more complex, dealing with unstructured documents should be as easy as using Excel spreadsheets. 

    Intelligent automation is the connective tissue between systems, no matter what the size or age of the company. In fact, says Kiefer, at Pyramid Solutions, the end-to-end aspect of document processing can be most difficult for more established companies. “There’s a lot of room for improvement,” she says. “The longer the company’s been around — the more room there is.”

  • Automation Hero announces new Flow Studio + Library | Automation Hero

    How better UI helps break barriers to AI.

    Mar 17, 2021 by Automation Hero

    Access to automation takes a big leap forward with Automation Hero’s new Flow Studio. 

    After months of hard work, we’re thrilled to announce a slew of new features in the Hero platform: a redesigned Flow Studio and the exciting new Library. The new features not only take usability to another level, but also let people easily create by curation, copying and pasting powerful automations from an existing set within our platform.

    Why it matters 

    Tech giants have built their companies around AI and automation, meaning the Amazons and Microsofts of the world are now far outpacing their competitors. But when automation is only available to goliaths with armies of developers, competition gets stifled across the board. It leaves small and medium-sized companies out of the game.

    Because we’re shifting into a more visual mode for automating business processes, your company no longer needs to hire teams of developers or data scientists.

    Automation happens via graphical user interface with a few clicks and reusable components. When you want to automate a business process, you simply drag and drop elements from an element browser. You can also pull an example automation from the Library the same way you might from a recipe book, rather than starting from scratch.

    What’s new

    In the new Flow Studio, it’s easier to collaborate. With a more visual and user-friendly interface, everyone from an operations manager to an administrative assistant can see clearly how to run and build automations. You can also now annotate your work — creating a headline, strategy note, or any other type of note for your teammates to explain your thinking. This makes automations easier to share across an organization. 

    In the new Library, you’ll find hundreds of examples of automations that companies have already built — which you can then copy, paste, or modify. This removes any intimidation factor from building automations. Wondering how to quickly analyze a heap of emails in a company inbox? You can get inspired by reviewing how another company tackled the problem before.   

    Looking into the post-pandemic future 

    Intelligent automation is the key to thriving in a post-Covid economy. This means streamlining workflows, cutting manual tasks, and adapting to permanently remote work setups. Companies that recognize this and can use automation well will race ahead of their competition. Breaking down barriers to using automation tools gives all companies (not just tech giants) new powers to excel. 

    Want to try out the new Flow Studio? Click here.