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Automating Capture with KTM

Automating Capture with KTM. Ryan Bazler Director, Product Marketing, Kofax. The First Mile. Video: 7 Ways to Make the First Mile™ Smarter Web: Seven Ways to Make Your First Mile Smarter. Multi-Channel Capture Feeds Business Processes. Paper documents. Social collaboration. Paper. Fax.

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Automating Capture with KTM

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  1. Automating Capture with KTM Ryan BazlerDirector, Product Marketing, Kofax

  2. The First Mile • Video: 7 Ways to Make the First Mile™ Smarter • Web: Seven Ways to Make Your First Mile Smarter

  3. Multi-Channel Capture Feeds Business Processes Paper documents Social collaboration Paper Fax Email Mobile applications SMS XML Office PDF Social Electronic formats

  4. Without Kofax Understand Decide Paper Fax Email SMS SharePoint XML Portal ERP/LOB/CRM Office PDF ECM/RM Database Social What is it? What do I do with it?

  5. Kofax Provides an Essential Link Understand Decide Understand Decide Paper Fax Email Process Management SMS SharePoint XML Portal ERP/LOB/CRM Office PDF ECM/RM Database Social

  6. Kofax Value Proposition Understand Decide Understand Decide Paper Analytics for Capture Process Management Fax Email BI/Analytics SMS SharePoint Capture Validate Communicate Classify Separate Extract XML Portal ERP/LOB/CRM Office PDF ECM/RM Database Social Dynamic Case Management Point of Origination Touchless Processing Mobile Collaboration Analytics Enterprise Ready

  7. Market Evolution and Growth Market Size $5B “Everyone has a scanner in their pocket today.” Geoffrey Moore, Best-selling business author Smartphones & Tablets Used by Employees & Customers $4B Desktop Scanners & MFPs in Highly Distributed Front Offices 1B+ $3B Mid Range Scanners in Distributed Regional Offices 100M $2B 1M Production Level Scanners in Centralized, Back Offices $1B 500K Monolithic Page Scanners in Centralized Back Offices 100K $0 1985 1990 1995 2000 2005 2010 2015

  8. Importance of Mobile in the First Mile 67% consider mobile devices to be important to improving business processes 45% believe mobile devices would improve their speed of response by > 3X Yet … >75% have made no progress toward these goals • Insurance • New policy quotes • Customer onboarding • Claim submissions • “Trailing” documents • Financial Services • Customer onboarding • Mortgage & loan apps • Appraisals • “Trailing documents” • Government • Citizen benefit enrollments • Claim submissions • Licenses, permits & renewals • “Trailing” documents • Healthcare • New patient onboarding • Clinical documentation • Medical claims submission • Revenue cycle management Source: AIIM – April 2012

  9. Mobile – An Emerging Channel Survey reveals preconceptions about mobile apps, including frequency of usage, buying behavior and likelihood to use for customer service purpose. 48% use mobile apps more than 10 times a day. Almost half use apps on their mobile device 10+ times per day, more frequently than general grooming and eating. Brush teeth up to 3 times a day. Shower up 2 times a day. Eat up to 5 time a day.

  10. Mobile – An Emerging Channel customer Onboarding Mortgage Automation AP Automation Mailroom Automation Smart Mobile Apps Mobile Onboarding Claims Processing Mobile Mortgage Underwriting (New Business) Mobile Quote Mobile Capture Patient Onboarding Mobile Pre-registration

  11. Kofax Stairway to Value Optimize Customer Experience Deliver Total Enterprise Agility Increase Customer Intimacy Radically transform & simplify the First Mile of customerinteractions Achieve Operational Excellence Establish new levels of engagement & collaboration Value Proposition ImproveInformation Visibility Streamline processes to greatly reduce costs Digitize paper for better access & compliance Reduce Operating Costs Market Evolution

  12. Enterprise Framework for Capture Standard resources utilized by the entire platform Enable standardized corporate systems Automate, accelerate and reduce operating costs Extend capture to the earliest point in the process End to end process monitoring and reporting Systems Management CA, IBM ,HP, MSFT Reporting Scan Recognition Validation Release Business Systems Transform Deliver Collect Kofax Transformation Modules Intelligent Document Recognition Kofax Capture ERP Capture Basic Transformation 100+ Connectors BPM Kofax Analytics and Kofax Monitor Platform Shared Services ECM

  13. KTM Product Overview • Manual document separation and data entry is slow, expensive and error prone. • To solve these challenges, KTM: • Provides Touchless ProcessingTM solutions that reduce the time to understand and decide what to do with information • Automates document classification and separation, and information extraction and validation. • Increases productivity, speeds processes, improves data quality and lowers costs • Use cases: • Invoice processing • Records processing • Digital mailroom • Mortgage processing • Insurance claims processing • New account opening

  14. KTM Product Overview Cost Exceptions Risk Speed Productivity Capacity • What business benefits are delivered by KTM? Executive Sponsor:“I want all our processes to be streamlined – we need be more efficient and differentiate by providing better service.” Process Manager:“I want a secure, reliable, and easy-to-manage process where my people focus on serving our customers, not handling documents.”

  15. Kofax – Extensible Capture Platform Capture & Cleanse Identify Review Extract Validate Manage Extracted metadata is examined for accuracy and rules adherence Documents and metadata are able to connect to multiple data sources with flexible maps and schemas Automated document identification and separation is performed Automated metadata extraction is performed on the documents Content is captured and image is cleaned and perfected Document classification is examined for accuracy • Process Any Document Type: Structured, Semi-structured, unstructured • Capture, Validate and Match Data – Bar Codes, OCR, ICR, OMR • Database Matching – Leverage Your Data Sources • Form, Field and Character Level Confidence Scores • Optimize user experience and automation through your control

  16. Document Learning, Not Templates, Rules, and Coding • The Problem • Templates, rules and programming are not viable… • When you have hundreds of document types • When you have hundreds of variations of each doc type • When you have frequently changing layouts or fields for each document type • A learning approach is needed • For initial project configuration in design time – Learn By Example • For ongoing project maintenance in production – Online Learning

  17. KTM Learn by Example • Learn-by-example – done pre-production • Simple training process: provide samples and KTM starts learning! • No rules or programming • Business challenge • Tight deployment schedules and budget • Business benefits • Less costly deployment – lower initial development costs • Quicker deployment – shorter application development times

  18. KTM Online Learning • Online Learning – done in production • Learn documents quickly, without stopping (“on the fly”) • Increase system “knowledge” and improve automation over time • Business challenge • Maintain and improveperformance once in production • Business benefits • Achieve same-day efficiencyimprovements • Be responsive to new orchanging documents

  19. Kofax Transformation Modules  Key Competitive Advantages

  20. Overview – Medical Claims Add-on Pack • Benefits • Near-complete medical claims capture implementation • Automated processing of CMS-1500 and UB-04 forms • More medical claims processed with existing staff • Faster case resolution, greater customer satisfaction • Reduced processing costs • Improve HIPAA transparency, control & compliance • Integration with existing claims management systems • Ability to process all document types, not just medical claims A majority of KTM configuration work is done – remaining portion is a PS engagement Up to 21 person months of work saved!

  21. Overview – Invoice Add-on Pack 1.1 Value Proposition • Out of the box invoice processing demos • Improve speed and performance of invoice processing proof of concepts (POCs) • Internal benchmark: >75% extraction rate for unknown invoices for 5 different countries • Internal benchmark: >97% extraction rate for known invoices for 5 different countries • Reduce Professional Services work for production deployments • Provide best practice methodology and documentation Functional Overview • Optimized extraction, formatting, validation and pre-configured scripting • Localization in 4 languages (DE, FR, ES, EN) • Demo invoices and databases for 5 different countries • Documentation on how to demo the project • Documentation on how to deliver a POC and customer implementation

  22. Kofax Case Study – Invoices Challenges • 3.5M invoices, over 35,000 suppliers, multiple processing centers • Labor intensive and expensive manual process • Delays increase risk of lost discounts and poor supplier relations Benefits • 74% are now automated • Expenses reduced >$1M per year • Accelerated processing times • Increased accuracy • Increased discount capture • Improved supplier relations • Customer: Corporate Express • Business: Subsidiary of Staples, $23B in annual revenue & operations in 27 countries • 1M+ invoices annually, 35,000 suppliers | Transform 2012 - Capture Driven Processes

  23. Demos • Invoice Processing with KTM

  24. Thank you

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