How IDP Automation is Reshaping Shared Service Centers
Shared service centers play a vital role within large organizations in speeding up business processes and streamlining operations for better customer service. Yet, many centers struggle to increase efficiency and reduce costs.
Between mountains of paperwork and manual processes that take up time and resources while being prone to error, shared service centers are turning to technology to improve their operations.
Intelligent document processing (IDP) is a flexible, accurate, and scalable solution that makes it possible for these cross-functional departments to automate documents and data entry cost-efficiently. Discover the different ways that IDP automation is reshaping shared service centers, from significantly reducing document processing time to increasing accuracy rates.
IDP eliminates the need for manual data entry by speeding up pre-processing, automatically capturing key information, and streamlining validation. With powerful document automation, centers drastically reduce the time needed for data entry and possible human errors.
Veolia, a global leader in optimized resource management, was able to achieve 90% automation in its shared service center with IDP. This resulted in an 8x faster document processing time and allowed the center to cut down major overheads.
One of the main advantages of IDP is its ability to capture data with greater speed and precision than humans. Even traditional template-based OCR software, which has been around for decades, can’t compare to IDP’s high accuracy rates because it lacks flexibility with different document formats, types, colors, symbols, etc.
Accurate data capture reduces waste and errors, which helps eliminate potential areas of rework or discrepancy in records. It’s also critical to making successful business decisions by revealing trends that may signal new opportunities or risks, helping companies navigate competitive landscapes with confidence.
There are a number of ways that IDP automation saves money for shared service centers. They can leverage it for AP use cases, like managing invoices and matching to decrease costs, taking advantage of discounts, and mitigating risk.
Centers can also save money on labor by reducing expenditures related to hiring temporary personnel or overtime payouts needed during peak months.
IDP supports digital transformation by allowing shared service centers to streamline complex and tedious yet important processes, such as invoice processing, order management, and customer request tracking.
Additionally, pre-built and custom integrations offered with IDP enable centers to achieve comprehensive solutions that accelerate digital transformation.
Document automation not only can greatly reduce costs and prevent data entry errors, but it also helps shared service centers keep up with market trends. IDP allows centers to easily adapt processes according to customer needs with minimal effort or less downtime.
By using IDP, they’re able not only to reduce paperwork but also maximize resource utilization and improve operational efficiency. Centers can quickly break free from traditional manual processes and offer quick turnaround times for customers, resulting in improved financial performance.
Shared service centers with IDP provide a superior experience for both their customers and employees by delivering an automated document solution that results in faster response times and fewer manual steps required. Increased accuracy and speed also eliminate errors that would otherwise cause shipment delays and logistical problems.
IDP automation promotes satisfied customer relationships, which can increase revenue and word-of-mouth referrals, while employees appreciate avoiding monotonous data entry and document processing tasks.
Increase your center’s efficiency and productivity
IDP automation is reshaping shared service centers by streamlining processes so that they’re cost-effective and efficient while ensuring accuracy across document workflows. It also enables employees to focus on higher-value activities instead of spending endless hours manually entering information, processing documents, or fixing errors.
With this technology in place, businesses will be able to make better use of their existing resources and prepare for any unexpected changes in market conditions or customer requirements.
Try intelligent document processing for free now to see how flexible, adaptive document automation increases efficiency and reduces costs for shared service centers.