Monthly Tangentia Byte September 2020

  • Monthly Tangentia Byte
    September 2020


The reality is 2020 has forced organizations to adapt to new challenges and change the way they do their day-to-day operations. At Tangentia, we help organizations rapidly deploy solutions and platforms that ensure business continuity and resilience.

Contact us today to discuss your RPA and Automation journey.
TIA Digital Worker
Efficiency in business is all about making the most out of your workforce. The Tangentia Intelligent Automation (TIA) Digital Worker is a state-of-the-art digital workforce that is made up of digital workers pre-programmed with a wide variety of industry standard processes that can integrate smoothly with any business system.
What is Robotic Process Automation?
80% of business are using or considering
RPA technology to manage their
financial processes.
View our latest infographic on the benefits of RPA for your business and discover how you can start utilizing automation today.
Building Resiliency Through Automation & AI: The IBM Watson Difference
Download our whitepaper to learn how
automation works within a company at both macro and micro levels, what components you should understand before starting your automation journey, and why RPA and IBM Watson are the ideal fit for your next automation solution.
Start Your Next Artificial Intelligence Project
With IBM Watson Integration
IBM Watson provides your company with a sophisticated AI tool that can help you harness the power of AI technologies. Put your data to work for you with a solution that is more efficient, protects your data, and re-imagines your workflows.
Tangentia is awarded “Excellence in Business Process Automation 2020 – IMEA” from Automation Anywhere.
Manufacturing organizations are turning to technologies like RPA to simplify and accelerate back-office processes. RPA is the perfect solution for manufacturing and industrial companies looking to automate repetitive and time-consuming tasks to enable their workforce to focus on innovation and customer satisfaction.

Join Tangentia and UiPath on October 7th at 5:00pm IST, as we discuss how RPA and a digital workforce enables the manufacturing industry to save on operational costs, streamline processes and gain new efficiencies.
Indus Motors Customer Testimonial

There’s no better time than now to adopt Cloud. For us at Indus Motors, it’s been a seamless experience, right from awareness to visualizing the end state of our transformed business. We were particularly keen on a few aspects while selecting our automation partner – short lead time for adoption, ease of use, scalability and repeatability across processes. We found an effortless match when we evaluated Automation Anywhere through Tangentia, our technology partner. We are excited about the future of our business with automation and are proud to be the first A2019 customer for Automation Anywhere in India.

Monthly Tangentia Byte August 2020


  • Monthly Tangentia Byte
    August 2020







Digital Workers in the Workplace Driving Digital Transformation
Digital workers working side by side with employees is on the rise. If your organization is looking to automate mundane tasks in Accounts Payable, Finance or HR, we can help. Utilizing the robust capabilities of our partners such as Automation Anywhere, UiPath, IBM and Blue Prism, we can build an affordable solution that helps you cut costs and save time.
To book a demo with one of our RPA solution experts to discuss the impact of
Digital Workers for your organization, click below.

How AI Can Support the New (and Old) Way of Learning
While many schools hope to see their students back in classrooms, the reality is often a hybrid model of learning, with some or all of it done remotely. Fortunately, the technology exists to make the remote learning journey a smooth one.
TIA Chatbot for
Intelligent Education
TIA offers intelligent chatbot & voice capabilities making it possible to efficiently provide students & the general public accurate & timely answers to their
questions, improving their overall communication experience.

Meet New Government of India GST Compliance Requirements
Your organization has 30 days to get compliant in India with new GST E-invoicing requirements. Get compliant within 2 weeks with Tangentia E-invoicing Gateway to ensure you meet the deadline of October 1st, 2020.
Introducing TIA Industry Accelerators
The TIA IA is built to serve the needs of various industries, offering deployment-ready software solutions built to accelerate business processes. Its capabilities can be extended, modified or customized, depending on the individual needs of the company, making it the ideal solution for process automation.
All of us at Tangentia are proud to receive The CEO Story’s Company of the Year 2020 award. We thank all our customers, partners and associates globally for helping us achieve this success.
Click the link below to read our CEO, Vijay Thomas’s take on how during these trying times, Tangentia has risen above the storm, and then some.
Higher Education Institutes across the globe are turning to chatbots and AI to improve the student experience, provide virtual learning assistance, and accelerate student support services.
If you have considered AI and virtual-assisted chatbots for your institution, attend our webinar on September 2nd @ 4:00pm IST where we will discuss our success stories and introduce TIA (Tangentia Intelligent Automation) chatbot.
Tangentia is a proud sponsor of the FADA (Federation of Automobile Dealers Association) AGM 2020 happening this weekend 5th September, 11:00am IST

How Just-In-Time Inventory, EDI, and RPA Keep Your Business at Its Most Efficient

  • Automating Your Inventory : How Just-In-Time Inventory, EDI, and RPA Keep Your Business at Its Most Efficient

When it comes to your company’s supply chain, one of the most common weak links is inventory management. There are very few businesses that handle their inventory management well. Typically, retail businesses face problems scaling up their inventory management systems as they grow.

As your business grows, efficient inventory practices become more and more worth investing in. Retail companies with poor inventory management can suffer from stock issues, slowed turnover times, and needing to order excess inventory to prevent running out of stock. Slow delivery and stock issues are a sure way to reduce customer satisfaction, so keeping these issues at a minimum is important.

How can retail companies improve their stock management and inventory processes? For most businesses, the answer is automation. Most inventory management issues stem from human error, inefficient practices, and incomplete item information. Automation resolves all these issues. It is intrinsically efficient and requires complete item information, and eliminates human error.

So, how can your business get started with inventory automation? The process isn’t as difficult as you might think. Just-in-Time Inventory (JIT), Electronic Data Interchange (EDI), and Robotic Process Automation (RPA) are a few strategies that you can utilize onto your supply chain to be well on the way to an optimized system.

What Is Just-in-Time (JIT) Inventory?

JIT inventory is a way to decrease waste and increase the efficiency of your supply chain. With JIT, your supply chain only receives goods as they become needed.

Pros of JIT?

JIT keeps your business at maximum efficiency. By having goods on hand only when they’re needed, you can keep your supply chain operating smoothly without needing to worry about long-term storage of stock.

Maintaining JIT inventory reduces the amount of waste your supply chain produces from leftover, unused goods. It also keeps the investment into your supply low, as you don’t need to stock more goods than you need.

Cons of JIT

While JIT keeps your business on top of its efficiency when supply is readily available, it can cause your business to suffer greatly from issues farther down the line of the supply chain.

Since you don’t keep a stockpile of the goods your supply chain uses, if they suddenly become scarce or expensive, your business might unexpectedly run out of stock. You might also end up needing to buy overpriced stock.

What Is Electronic Data Interchange (EDI)?

In general, Electronic Data Interchange is simply the technical term for two computers communicating with each other. In the context of the supply chain, EDI is a way to get a full digital picture of your electronic transaction exchanges with your customers, as well as your inventory.

Pros of EDI

Many supply chain issues, such as inventory shortages and surpluses, happen because of a lack of inventory visibility. EDI allows you to keep track of all your inventory in one centralized location, making it easy to track and prevent inventory errors.

With EDI, it’s also much easier to manage more complex inventory processes, such as multichannel sales. The more complicated the process, the more likely it is for human error to occur.

Having a guarantee that all of the information about your inventory is accurate allows you to make supply decisions with the big picture in mind. Overall, EDI improves almost all aspects of the inventory management process.

Cons of EDI

EDI can be hard to adjust for your supply chain to work around, especially if it is a legacy EDI system that is in place. This is especially the case for rapidly growing businesses, which don’t usually have particularly well-optimized supply chains.

If your inventory isn’t well-suited to EDI, it can take some work to get full value out of the EDI system. You may need to overhaul some of your inventory processes altogether.

What Is Robotic Process Automation (RPA)?

RPA is a way to increase the efficiency of your inventory management by replacing human operators for various digital systems. With an RPA system, the computer essentially uses itself by means of a virtual operator, called an RPA robot.

RPA robots have a wide array of functionalities, and are able to completely replace human users for many applications. They can perform tasks such as moving and collecting data from various sources, as well as process data by performing calculations.

Pros of RPA

RPA can allow for quite a lot of inventory management automation, sometimes up to 90%. In general, processes that can be automated should be, as humans are almost always slower than an RPA robot. RPA robots can drastically increase the efficiency of your inventory management processes.

Like EDI, RPA removes the human element from many processes. In particular, RPA robots can handle data entry, data processing, and other repetitive tasks easily, with a 0% rate of error. This gives them a sizable advantage over humans, who are unable to focus on these tasks for as long.

RPA systems can also keep running overnight, giving them yet another advantage over human operators. Overall, RPA is almost guaranteed to provide a large boost to your business’s supply chain efficiency.

Cons of RPA

Like EDI, a proper RPA system is not trivial to implement. Rolling out an RPA project into your business’s inventory management or production environments actually has a good chance of failing at first. After some troubleshooting, you will likely start getting full value out of the RPA system.

Tying It All Together

Automation is a great way to increase efficiency and eliminate errors within your inventory management process. It can’t do the job on its own, though: if you want to optimize your inventory management, you should use a combination of JIT, EDI, and RPA.

How JIT, EDI, and RPA Complement Each Other

On their own, these three methods of optimizing your inventory are sure to increase your efficiency significantly. When put together, though, they are more than the sum of their parts.

The biggest weakness of JIT is that it’s prone to human error. Improper data entry can result in an unexpected stock outage of your product. EDI and RPA prevent this by removing the capacity for human error in the majority of the inventory management operation.

On the other hand, EDI and RPA can suffer from bottlenecks. It doesn’t matter how efficient your data processing is if your business is bogged down by extra costs relating to storage or other inefficiencies. JIT helps alleviate this bottleneck by increasing the efficiency of your business outside of data processing.

Can I Have JIT or EDI Without RPA?

While JIT, EDI, and RPA are tools that are best used together, they can be used individually to great effect. You should make sure you’re on the lookout for the potential issues with using these tools.

So as long as you build your inventory management process around the tools you’re using—you should be able to work around JIT, EDI, and RPA’s various weaknesses. Overall though, we recommend trying to implement all three inventory management tools, as they work best in tandem.

An Investment in JIT Is an Investment in Efficiency

If your business has been growing and you’re having trouble handling demand for your products, the solution may not be to expand and spend more. Oftentimes, it’s much more budget-friendly and effective to invest in ways to improve your efficiency than expand your flawed, existing system.

When it comes to improving the efficiency of your supply chain, the best way is with automation. JIT, EDI, and RPA are all easy-to-implement forms of automation that are designed to provide you with a quick return on investment. Once you have these systems in place, you’ll find that your inventory management model is much more scalable.

If you’re interested in learning more about JIT, EDI, or RPA, feel free to contact us today to find out how these tools can help your business be the best it can be.

Get Started Today

Tangentia is a Platinum Partner of IBM and well as partners with Automation Anywhere, UI Path, Blue Prism, Adobe, Microsoft, Salesforce, Amazon and leading enterprise software vendors. We work with customers globally with offices in Canada and India to implement their RPA strategies using an agile methodology.
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Monthly Tangentia Byte – March

  • Monthly Tangentia Byte
    March 2020


COVID-19 : Here’s What’s Happening at Tangentia

Similar to other companies, COVID-19 is impacting Tangentia, too. We’re embracing this change of pace for the unique opportunities it’s providing. Read our company announcement on how we’re maintaining operations and focusing on customer success.


How RPA Can Help Companies Weather Uncertain Times

One fact we can’t ignore is that we never know what is waiting for us in the future,
whether it is a pandemic, natural disaster, war or another potential unknown of economic uncertainty and a disruption in work routines and productivity.
Read our latest blog on how RPA can be utilized to maintain your business operations.

RPA & Bots Helping Organizations Maintain Operations

As companies strive to protect employees, technology is playing an increasingly important role in the workplace. In particular, we are seeing the benefits of 
Robotic Process Automation (RPA)
 and bots in helping to protect employees and the general public in innovative ways.


Tangentia EDI Offers Support for SWIFT 2020 Updates

SWIFT
 is a messaging network designed to facilitate the global transfer of funds. It works by sending electronic messages from one financial institution to another to notify them when a transfer of funds is made.

Robotic Process Automation
Is It Recession Proof?
Tom Taulli –
Forbes
Contributor

No doubt, it seems like video conferencing and remote work will become increasingly mainstream. But there are other corners of the tech industry that could be poised for transformations. One is actually Robotic Process Automation (RPA). 
Check out Forbes latest article on RPA.

Live Webinar | RPA and Business Continuity – Our Global Stories 
India April 21
st
2020 9:00am IST    |   Toronto April 29
th
2020 10:00am EST

As companies strive to protect employees, technology is playing an increasingly important role in the workplace. In particular, we are seeing the benefits of 
Robotic Process Automation (RPA)
 and bots in helping to protect employees and the general public in innovative ways.

The Grand Finale of the 4th edition of the Tangentia Jigyasa Quiz 2020 was bigger & better than ever before
Congratulations to all of our winners and participants from across the country. After 6 arduous rounds of quizzing, we finally had our winners (listed below). A massive thank you to our sponsors, partners, volunteers and the audience at the finals as well as those who watched it on Facebook Live, you made this event a huge success.
Registrations are open for 2021, register below.


Tangentia Jigyasa 2020 champion, Sai Mitra Constructions represented by Naveen Kumar & Jayakanthan R


Second Runners Up – Edelweiss from Mumbai- Avinash Mudaliar & Meghashyam Shirodkar

First Runners Up – Open Destinations from Goa
 Sneha Kamat & Keshav Lawande

Welcome Aboard, TROPPIPETS

Tangentia welcomes 
TroppiPets
to the ever-growing Tangentia family.
TroppiPets creates truly safe accessory for your four-pawed best friend, and makes eco-friendly pet bed Teepee that is 100 % recyclable and easy to assemble that Fits Small Dog and Large cats. 
To see their colorful pet Teepees,
click here

#StayHome #FlattenTheCurve

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With 2019 Nearly Over- Where are AI, RPA & EDI going in 2020?

  • Where are AI, RPA & EDI going in 2020?

    A perspective by Tangentia CEO, Vijay Thomas

2019 was a significant year for Tangentia. As a recognizable ‘global boutique’ consulting firm that provides bespoke services in Canada, USA and India—we are excited about the progress we saw.

Whether it was our core B2B business of EDI(Electronic Data Interchange) and Ecommerce or the development of our new AI(Artificial Intelligence) and RPA(Robotic Process Improvement) segment, we empowered many businesses to improve their core operations.

But what trends really defined 2019? And which ones will continue to lead the way into 2020?

2019 Was a Milestone Year For Tangentia

2019 was the year we committed to automation through our AI and RPA service offerings. While we had some exposure previously (mostly through providing staffing solutions), we expanded our offerings by creating a new range of services that focused on key problems that businesses face in a multitude of industries. We expanded our partnership with IBM to become a Platinum partner of IBM for Watson AI. Also we are global partners for Automation Anywhere, UI Path and Blue Prism in the RPA space.

We also consolidated some of our legacy services, improving our B2B business segment—which includes our legacy EDI and Ecommerce business. These services continued to grow substantially outside of North America with many significant wins in 2019 in India including India’s largest retailer.

Our global headquarters also moved in Toronto, from Willowdale to the Waterfront district, which saw us join the likes of Google,Uber, LCBO, Royal Bank, and soon Microsoft in what is arguably the fastest-growing tech hub in the world. We are beyond excited to be located in such an innovative area of the city.

How Will 2020 Impact Digital Transformations?

Company accomplishments are important, but the real value is in the lessons we learned from the exciting technologies that we offer.

So, what were the main takeaways from 2019?

Automation Isn’t a Magic Bullet

The RPA industry saw between 600-1000% growth in 2019. These numbers are large and signify that many companies are investing in this technology heavily. Major players in this industry have become unicorns in the investing world as the markets realize the potential that automation has.

However, AI, RPA, automation, and similar technologies aren’t a guarantee. Companies that invested millions into this technology without a plan saw minimal results.

Automation is a catalyst for innovation, but your business needs the right systems in place to take advantage of it. The goal of RPA is to enhance existing systems that are already working. An automation solution will decrease costs, improve efficiency, and other core metrics- but only if an organization understands what areas they need to improve.

It’s important that a company makes small changes that compound over time. We encourage our clients to push for real value and not to fall victim to the marketing pitches that they’ve heard about automation. Our team even has a Continual Process Improvement(CPI) using RPA model that we encourage our customers to try out.

In 2020, we expect to see more companies identify how RPA can help their organization cut costs, improve productivity, and make their business more agile.

EDI Isn’t Dead. It’s Evolving

Yet again, critics made the claim that EDI is dead. But as an EDI solution provider, I can assure you that EDI isn’t going anywhere.

If anything, EDI is evolving and adapting to the digital age. At Tangentia, we see EDI as any B2B communications between two business entities and not through the traditional lens of ANSI X12 or EDIFACT. And while this traditional EDI may be slowing down, XML and API formats aren’t going anywhere—especially in the age of integration. Today, businesses rely on countless apps having the ability to communicate and synchronize flawlessly. This alone will ensure the longevity of EDI as companies look to simplify B2B communications.

Legacy companies will always rely on some form of EDI, while modern startups have the benefit of building out in the digital world. Still, even startups require EDI solutions using either the XML or API formats.

Digital Transformations Matter – But You Must Define What It Means to Your Company

Digital transformation is the buzzword today. Every company is claiming they are making a digital transformation.But what does it really mean?

An effective digital transformation should be all about making incremental changes that drive long-term value and improve the user experience.

For example, a business may use an invoicing system that takes one month to complete. They could realize substantial gains by automating this process down to several days.

One advantage that we can offer our clients is the perspectives we have gained from working in Canada, the United States, and India. We can help companies identify what’s working in one region and find ways to adapt that same technology in another.

Digital transformations aren’t going anywhere in 2020. Successful companies are always looking to modernize and improve the way they connect with customers, employees, and partners. However, we expect to see companies focus more on what their personalized digital transformation looks like.

Where Is Tangentia Going in 2020?

Agile Digital Transformation

Our unique agile approach to digital transformation has allowed us to deliver complex digital transformation projects for the largest beverage alcohol distributor in the world, the largest retailer in India and many mid sized companies worldwide. We will continue to stay true to our belief in the power of the iterative agile delivery model.

Global Boutique

Tangentia is a ‘global boutique’ firm. We know how to execute using a global delivery model with much less overheads than our competitors and that provides our customers with high-end services at a value driven price.

Get Started Today

Interested in Automation but don’t know where to start? Looking for somebody to help maintain, support and enhance your existing bots? Or just want to say hello? Contact us now. We promise a human will answer your query, not a bot.
Contact Us

Digital Transformation: One Button at a time!

Digital Transformation: One Button at a time!

Tangentia Media

Finding the right promotional giveaways for your exhibition can be a challenge.Promotional products are only successful in marketing your company or organization if the person who receives it is actually going to make use of it. When choosing a product, think about how well you might receive the item?

With this in mind, our marketing team did a fantastic job of getting it right, making our Tangentia Badges a huge success at Vibrant Goa. Check out some of the final designs that made it from the hundreds of initial ones our team worked on.

Tangentia – I Love Goa

The biggest hit at the event by a mile, this button was popular amongst visitors, fellow exhibitors and students alike. We even had our humble button get a few selfies with some big-name personalities like Mr. Piyush Goyal – Minister of Railways & Commerce Government of India, Mr. Pramod Sawant, Honorable Chief Minister of Goa & Mr. Jagat Shah – Chief Mentor Vibrant Goa.

Tangentia – KEEP CALM and AI

Artificial intelligence (AI) not only powers your latest smartphone nowadays but, is also providing solutions to big and thorny problems like business processes, digital security, disaster  management and cancer treatment.
Tangentia.AI is helping companies leverage this potential for faster, smarter and more economic growth. As such, it makes sense to just sit back, relax and AI!

Tangentia – Kitne BOTS the re Kaliya?

Perhaps one of the most iconic dialogues from one of the most iconic movies of yesteryears.
Tangentia’s Robotic Process Automation team took this timeless classic and made it their own. With RPA and Intelligent Automation, the possibilities for business processes and growth is virtually limitless.

Tangentia – To be or not to B2B, That is the question?

Question indeed, and one our experts at Tangentia.B2B can help answer. Tangentia EDI is a one-stop shop for your EDI, B2B, trading partner, supply chain requirements. Connect your business with your enterprise-level trading partners worldwide through our network of more than 2000+ EDI connections, & integrate your EDI data with your ERP and other internal business applications seamlessly.

Tangentia – Wanna chAI?

A quirky take on the famous desi Chai and Tangentia’s budding AI division that is helping accelerate digital transformation through intelligent automation.As the saying goes, a BOT can happen over coffee!

Grab your Free button now!

With all the love and praise we received at Vibrant goa, and with most of our buttons running out of stock by day 3, it only seems fair that we send out some more to those who didn’t get one. If you would like to receive any of these buttons, do let us know in the form below, and Tangentia will send them out to you, for Free!

Pick your Button.

Name:
Email Address:
Complete Address :
Pick a button


Bringing Shadow IT Back Into the Light

  • Bringing Shadow IT Back Into the Light

First post in our new Shadow IT Strategy Series sharing ideas, methods, and strategies to help CEOs, CIOs and most importantly users, to find greater success with Shadow IT!

Shadow IT has gotten a bad rap. Over the last several years mainstream IT leaders and minions alike, have decried Shadow IT as a blight upon the IT world to be purged from the body of the corporation like some fatal viral infection. For those unfamiliar with the evil and dark voodoo of Shadow IT, here’s how Wikipedia defines it:
ShadowIT is a term often used to describe information-technology systems and solutions built and used inside organizations without explicit organizational approval. It is also used, along with the term “Stealth IT”, to describe solutions specified and deployed by departments other than the IT department.

.In my early corporate days at HBC we called these projects skunkworks and we truly got some amazing things accomplished with no budget assigned to support and I even have the letter to prove it! But somehow over the years through the growth of an IT culture of control, Shadow IT has now become something to root out and extinguish like a small brush fire under the shadow of the IT castle walls. Well, I say it’s time to bring Shadow IT back into the light and here’s why!

Improve Relationships – When behavior in organizations turns to rebellion, and users resort to buying new systems and services using their corporate cards, there’s usually a reason. Current budgeting, decision, and procurement processes are slow to the point of being broken and cannot keep up with the need for new types of systems in a variety of areas. Reactions simply to fight this phenomenon will only further fray fractured relationships. Better to see this as your chance to more closely bond with your business users harnessing their initiative to drive innovation.

 Innovation Driver – Having worked inside billion dollar corporations and witnessed first hand the inertia of bureaucracy crushing the life out of rapid innovation, perhaps Shadow IT can become an innovation facilitator. An initiative is needed to kick start innovation and if users feel strongly enough about needed IT system to go out and buy it there’s true motivation and initiative. So by developing your own Shadow IT strategy, you can then more effectively work with users to tap into this wellspring of innovation.

Cloud Migration – As the future of IT is in the cloud, the sooner you can overcome doubts, fears and negative perceptions of migrating to the cloud the better. As by their very nature, most if not all Shadow IT implementations are cloud-based, by developing a program strategy for how best to roll out Shadow IT projects you can effectively frame positive perceptions and also successfully facilitate the process of cloud migration.

Safe Shadow IT – Just like there are recommendations for industrial safety to prevent accidents when it comes to Shadow IT there’s definitely a set of prerequisites and steps which can be put in place to help users avoid pitfalls and maintain systems integrity. Safeguarding Your Success with Shadow IT can be done through taking some initial review steps on key factors as well as bringing in verified partners to assist users in configuration, training, and rollout of their Shadow IT projects. Look out for upcoming Shadow IT strategy posts for the CEO, CIO, and of course users, as we try and do what we can to further fuel innovation by bringing Shadow IT out of the shadows and back into the light!

Get Started today

Interested in Automation but don’t know where to start? Looking for a reliable Automation reseller with the best possible pricing? Looking for somebody to help maintain, support and enhance your existing bots? Or just want to say hello? Contact us now. We promise a human will answer your query, not a bot.
Contact Us

Paperless Factory: Invoice Processing Digitalization

  • Paperless Factory: Invoice Processing Digitalization

    By Shantanu Paknikar

Overview

Terms like “Paperless office”, “Paperless factory”, “Digitized Office” have been around for a long time, as an aspiration for the future. And yet, even today, the ground reality is that there are a lot of paper documents that are still in existence. Purchase Orders, Invoices, Shipping Notes, Goods received notes, Proof of delivery notes, and several other documents are still generated, received, and processed in large numbers in companies all over the world. Processes to handle paper documents are largely manual, time and effort consuming, prone to errors, require data re-entry at multiple stages, and result in operational inefficiencies. The need of the hour is to leverage technology to digitize such documents and automate the processes to handle them.

Example use case: Accounts Payable (AP)

Consider a typical use case for Accounts Payable (AP) and the Procure to Pay process at a factory that receives shipments from its suppliers. Trucks arrive at the factory gate with an invoice for the goods they are delivering, along with associated documents such as a shipment note and sometimes the purchase order (PO) corresponding to that shipment. Let us look at how the documents are typically handled.
The invoice and associated documents are in the form of a hard copies (physical paper copies). At the factory gate, this physical invoice is manually inspected, and tallied with the ERP system data. Once done, the gate clearance is recorded (manually again) on the physical invoice, or printed out as another physical document to attach to the received invoice. The invoice is then passed on for further processing.

The further processing might involve invoice being sent to a verifications team, where the received shipment is checked for quality. Once done, the ERP system is updated (manually) indicating that the shipment received has cleared the quality check. The quality clearance might then get recorded manually on the physical invoice document, or a QC certificate might get printed out and attached with the invoice.

The invoice (and the received goods) are then sent to the stores section where there is a quantity verification (counting) process. This involves matching of the ordered quantity of goods from the original PO in the ERP system, with the quantity in the invoice, with the actual quantity received. The matching requires a visual inspection and a manual comparison of the PO and Invoice for quantity as well as other details.
Once the matching is completed, the goods are accepted at the store, the ERP system is updated (manually), a Goods Received Note (GRN) is printed out and handed over to the supplier’s delivery associate, and the physical invoice is sent to the accounts team for the payment approval.

Business Challenges

The limitations of this process are obvious. It is inefficient to have the paper invoice (and other documents) being sent across from one department to another. There is quite a bit of work on data entry and re-entry including updates to the ERP system, which could also result in data errors. Also, with a paper-based process, search and retrieval of documents later (e.g. during audits) is a very painful process since the actual physical documents are not easy to find. These inefficiencies impact both the cycle time as well as productivity of the factory personnel involved in receiving and processing shipments.

Cognitive AI based Invoice Processing Bots

Cognitive Bot’s can reveolutionize business by sense of business documents like Purchase Orders, Invoices, Quotes and other business documents in any format.

The solution: Invoice Processing Digitalization

These inefficiencies can be addressed by a technology solution that involves converting the paper-based manual process into a digital, automated process. Such a solution involves two main steps:

  1. Digitization of the physical invoice
    This involves the following

    • Scanning of the invoice and converting into digital (e.g. PDF) form
    • Optical Character Recognition (OCR) to extract specific data fields and values from the document
    • Generating and adding “tags” or “meta-data” to the digital document, to help describe the document and to help for later search and retrieval
    • Storing the digital documents in a document repository or document management system (DMS), to be accessed when needed
  2. Intelligent automation

    Just converting the documents to digital form and storing them is not good enough. The next step is to have a process automation/workflow engine that can orchestrate the document workflow via a process application. The process application will handle approvals, automatic forwarding of the document to the right stakeholder, automated alerts and notifications, and integration with any back-end systems that might be needed. Process applications can be made “smarter” or “intelligent” through technologies such as artificial intelligence (AI) and machine learning (ML). The use of AI to complement automation is in fact what has given rise to the term “Intelligent Automation”.

Benefits

Invoice processing digitalization offers some obvious benefits. The scanning and conversion of the document to PDF form can be done at the gate itself, after which the physical documents can be sent for filing immediately, eliminating the risk of the physical document getting lost or damaged. Search and retrieval can now be done on the digital documents, reducing the time required from a few hours to a few seconds. With intelligent automation, manual data entry or re-entry can be automated fully or partially, reducing the chances of data entry errors. Overall, digitalization offers direct improvements in operational efficiencies with invoice processing cycle time reduction, reduced costs, and improved staff productivity.

Summary

While this article covers the AP area and a portion of the Procure to Pay process, digitalization equally applies to other areas such as Accounts Receivable (AR) and Order to cash processes. These processes are a part of any organization and digitalization of such processes goes a long way towards achieving the vision of the “digitized office” or “paperless factory”. This is of course, provided that companies are willing to invest in digital technologies such as intelligent automation. A lot of companies have already implemented such solutions, or are in the middle of doing so. Where does your company stand?

Footnote: Tangentia’s Invoice Digitalization Solution is designed to help you address the challenges related to handling physical invoices and related documents. Leveraging the power of Robotics Process Automation (RPA), Artificial Intelligence (AI) and Workflow / BPM technologies, the solution delivers all the benefits of digitalization including reduced invoice processing cycle times, reduced invoice processing costs, elimination of data entry errors, improved staff productivity, significantly reduced time and efforts for document search and retrieval and zero risk of documents getting damaged or misplaced during processing. The solution is a part of our Digitalized Office / Paperless Office offering, which includes automation solutions for Procure-to-Pay as well as Order-to-Cash processes.

Please contact us for a complimentary, no-obligation demo and a free consultation with one of our experts.

Write in to automation@tangentia.com today!

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