Increasing Supply Chain Efficiency with Intelligent Document Processing
Managing a supply chain without automation is like driving a car without modern safety enhancements — it can be done, but don’t fall asleep at the wheel! Orders, invoices, contracts, shipping manifests, and other documents must be accurate and updated in real-time to ensure supply chain efficiency. However, manual processes can lead to costly delays or disputes between buyers and suppliers.
According to Gartner, supply chain digital transformation is proven to drive growth, mitigate risk, and optimize costs. Intelligent document processing (IDP) is a fast, accurate, and scalable automation technology that not only increases efficiency but also enables digital transformation.
See how this innovative solution works and why it’s a must-have digital tool for managing your supply chain.
Benefits of IDP for supply chain efficiency
Rossum’s IDP platform uses cutting-edge AI and machine learning algorithms to process bulk documents quickly and accurately, enabling companies to reduce errors, save time, and boost productivity so more products can be moved.
Get a closer look at the different ways IDP can help your business gain a competitive advantage with increased supply chain efficiency:
Reduce manual labor costs
With AI document processing, companies can accelerate their efficiency by reducing the amount of manual labor that’s required for data collection, data entry, and other document-related tasks. The IDP platform can process and analyze documents much faster than humans, allowing businesses to save time and money on manual labor costs.
Morton Salt, a major industrial supplier of salt in North America, demonstrates the power of IDP for reducing manual labor in purchase order processing. After partnering with Rossum on a tailored solution, the company saw 95% faster document processing times — all without requiring special training for its customer service representatives.
Improve data accuracy
IDP technology can accurately interpret documents due to its advanced machine learning algorithms. This ensures that all data collected is accurate, which means less time wasted on double-checking information or reviewing for errors.
Time-saving automation
Another great benefit of IDP is its ability to automate your entire document operations — such as intake, preparation, data capture, validation, post-processing, and reporting. This eliminates various manual processes like data entry, which increases supply chain efficiency while reducing human errors.
Secure sensitive data
IDP makes it easier for businesses to comply with privacy regulations since customer data remains safe within the secure cloud platform. Not only does this boost consumer confidence that their personal details are kept safe, but it also protects businesses from potential liabilities related to fraud or misuse of information.
Accelerate digital transformation
In the modern era of enhanced automation capabilities, organizations must become digitally-enabled enterprises in order to succeed. Our AI-powered solutions can automate tedious tasks while gathering useful information on customer behavior and preferences.
This means companies gain deeper insights while streamlining supply chain operations at the same time — all of which contribute towards digital transformation.
Leveraging IDP for your supply chain
AI document processing is a powerful tool for businesses to improve their supply chain efficiency. IDP enables companies to gain visibility, increase accuracy, and streamline processes. Here’s how you can leverage this technology to enhance your supply chain:
Quickly capture data
IDP helps you quickly capture key data points from documents such as invoices, purchase orders, and customs forms, finding information faster than ever before. Data commonly extracted includes names and addresses, tax codes, billing terms, pricing details, and PO numbers — all without relying on manual input from staff members.
Detect and prevent errors
IDP ensures accuracy and increases data integrity by automatically flagging discrepancies, streamlining validation processes, and integrating with your databases and systems. As a result, it prevents errors due to typos or other human errors while preparing documents within minutes rather than hours.
Go paperless
Replacing manual document processes with automation enables organizations to eliminate paper documents from the supply chain process. Companies can save time and money while improving accuracy and visibility.
Plus, becoming a paperless office is more eco-friendly since you won’t have to use resources for printing, managing, and storing physical paper copies.
Enhance customer experiences
As competition increases, companies must provide their customers with the best possible service. By automating document processing tasks and streamlining operations, supply chains not only reduce costs but also elevate customer experiences by providing faster, more accurate order fulfillment.
Analytics for insights and improvements
IDP allows organizations to quickly analyze documents at various points across their supply chain workflows, enabling them to extract key insights within their business operations. Our platform’s built-in reporting and dashboards also make it easier to track and optimize your document processing, so you always meet your SLA goals.
Supercharge supply chains with high-performance processing
In today’s competitive business environment, supply chains need to be agile and streamlined to keep up with customer demands. To do this effectively, companies are turning to Rossum’s intelligent document processing technology to increase efficiency with speed and precision while reducing costs.
IDP automatically captures data from various documents and updates them in databases. This is not only faster than manual processing but also more accurate, as AI algorithms make fewer mistakes. By eliminating tedious manual work with automation, team members have more time to focus on high-value activities like procurement, supply chain planning, and logistics.
Sign up for a free trial to ignite your supply chain efficiency with the most advanced AI document processing on the market.