Transaction Processing meets ECM and Document Imaging

By: Jim Sheridan, EVP DRS

The more things change the more they stay the same. For the past decade digital transformation has been progressing at a blistering pace. In almost every segment of business you can re-thinking of paper based processes for helping customers and executing transactions.

Information management and information processing exist in a large part to serve the transaction. Think about all of the focus on eliminating paper from a healthcare transaction (an electronic medical record supports the healthcare transaction), a government transaction, a banking transaction, or a commercial industrial transaction. These transactional environments are where 90% of ECM technologies and services are deployed.

At the core of the transformation initiative is the desire to make transactions more accurate and have them occur faster and easier. Paper is slow to process and error prone. Once paper is converted accurately to digital data or eliminated from the process the document management automation technology can take over.

It would be great if we lived in a world that was 100% digital but we don't. Suppliers still send paper invoices, people still write checks, people send correspondence, and physicians and hospitals still have paper to support their transactions

Reality says that 25% of the document management marketplace is electronic, which means 75% is in paper, which also means we have a lot of work still to do.

At DRS, we have 5 simple truths that we bring to all of our implementations. It does not matter whether we are transforming healthcare records, accounts payable processes, or automating HR;

 

  1. Create clean, accurate, data quickly. Use electronic forms, advanced capture technology to structure the unstructured quickly, painlessly, and cost effectively. Companies like Kodak Alaris, Mi-Co, Frevo, Docuware, Kofax, Psigen, Anydoc (hyland) do this well.
  2. Archive and Preserve your information once it has been digitally transformed. With free repositories there is no excuse not to deploy document imaging and ECM. Microsoft Sharepoint is free and a good place to start and all advanced systems work will with their technology.� Hey it's Microsoft!
  3. Stop paper in its tracks. Create digital mail rooms or use a service such as DRS's Digital Mail room to stop paper, faxes, and other nuisance formats from slowing down your business processes.
  4. Focus on your core. Outsource when possible. Outsourcing companies have Soc 2 certification and are experts in deploying digital transformation. Sure it's fun to do internally, however, it will take longer and cost more.
  5. Go digital and automate everything that makes sense; new competitors build new paperless processes have a distinct speed, cost, and accuracy advantage.