Xerox released 15 digital workflow solutions that are designed to automate and simplify work across three targeted verticals, notably manufacturing, retail banking and higher education.
According to a statement from the Norwalk, Conn.-based company, the new processes will automate and manage both paper and digital data capture for the enterprise and push it to where ever its needed through multiple channels.
Digitizing Business Processes
Ultimately, these releases are about increased productivity, better compliance standards and happier customers, the company said.
“Automation and optimizing business processes is critical when companies embark on their own digital transformation path. Over the past few years, Xerox has put a large emphasis on developing customized solutions for many different industries to help them digitize and automate their manual-paper based processes to save companies time and money,” Andy Jones, vice president of workflow automation for large enterprise operations at Xerox told CMSWire.
“While each industry is dealing with many different challenges and trends, the manufacturing, higher education and banking industries all have very paper-based, manual processes that ultimately slow down business.”
Here are more details about the 15 solutions, which enable organizations to interact with their customers, employees and suppliers, regardless of platform:
Citing research from Industry Week, Xerox claims that digitizing processes can increase efficiency by 82 percent. In complex manufacturing processes with a large number of parts, digitizing and automating processes will push products to market faster. Xerox has introduced five processes here that cover areas like research and development and change management, as well as maintenance, reporting and operations.
The banking industry is still one of the most paper-bound industries, leading to repetitive and error-prone data entry. This in turn means hard-to-find documents as well as a lack of secure and auditable records. In response to this, banks are expanding their omnichannel capabilities, enabling customers to complete banking transactions on a variety of screens such as mobile devices, online portals and smart ATMs. Xerox has introduced three digital processes for records management, fraud management and customer onboarding.
Xerox’s new higher education solutions provide a number of processes to manage finance and data capture in the higher education space. The Xerox solutions reduce or eliminate manual data entry for college admission offices. Additionally, financial aid, billing and other related processes have been automated move faster and are less prone to errors.
Jones said these three verticals are weighed down by paper-based processes. Each industry has to document and track almost every step of the way and paper-based processes are time-consuming and clumsy, he said.
The new processes also tackle the tackle the of use adoption and resistance to change.
“To many, a change is daunting and they’re more comfortable sticking with the status quo. So when organizations are looking to implement things like these workflow automation solutions, it’s important for organizations to look for tools and technology that can be customized to meet every organization’s goals,” he said.
He also said it is important for companies to bring employees into the deployment process so they learn the solution from the ground up and can be trained to take full advantage of the capabilities. “With a focus on employee training, change won’t be as daunting. Digital transformation isn’t going anywhere and starting your organization’s digital transformation process by automating and digitizing paper will set you up for success,” he added.
The Digital Solution
The digital workflow solutions cut processes that once took days to minutes. They also enable enterprise to manage big data sets, which Jones said is one of the biggest issues facing paper-dependent organizations.
“By digitizing processes and paper documents, organizations can save them in a central service so employees can access and analyze the business-critical data to find patterns and improve processes,” he said.
Xerox is the process of slitting into two publicly traded companies. By the end of this year, it will consist of a $7 billion organization focused on business process services and a second $11 billion document technology business that includes printers, scanners and copiers.
According to Jones, Xerox’s Document Outsourcing will continue to roll out additional vertical solutions focused on automating business processes and improving the way they work. As the separation approaches, he said the creation of the standalone Document Technology Company will allow Xerox to better respond to partner and customer needs
It "will maintain our global position for document services and will offer superior technology, solutions and innovations that optimize document management in an increasingly interconnected world,” he said.