Why and how to digitize your business today
The transition to digital ceased to be an exception long ago. Almost half of the world’s population is an active internet user. No wonder digitalization of business is not a trend, but a daily necessity. With a multitude of opportunities, it is not difficult to digitize your business with the help of software, digitizing your business means being on the same page with global trends.
Digital transformation or digitization is integrated into every aspect of society, including business, government, healthcare, media, science, etc. Digitization has become a growth engine for every company. The digitalization of business as a global phenomenon causes fundamental changes in the way companies operate and in the way they offer value to their customers.
What does it mean to digitize your business? Common elements of a digital business
There are several views on the exact definition of digital business from industry experts. Gartner says digital business is about creating new value chains and business opportunities that traditional business can’t offer. McKinsey emphasizes that “digital should be seen less as a thing and more as a way of doing things”.
Most digital companies fit one or both points; they focus on creating value at new frontiers for their core business or use digital technology to stimulate growth, revenue and performance in ways impossible with traditional models.
It can be useful for companies to review the common elements of the digital business and compare them with their own business models. These are some of the trends that differentiate digital processes from traditional ones.
Use existing technologies to reduce costs, collect data and provide a better customer experience. Digital companies focus on the competitive advantages that technology gains, whether it’s reducing overhead or adding new value to their customers.
Adopt the concept of digital transformation and the cultural changes it requires. The implementation and management of digital services may require organizational restructuring, especially as new roles are created and IT is given a greater contribution to strategic decisions.
Explore new business models that place the customer experience at the heart of digital strategy. People are often willing to spend more for an exceptional customer experience, making it a key differentiator in the digital economy. Business models that align with this extreme focus on customer satisfaction will eventually focus on digital services, as digital is increasingly the experience that people prefer.
A key area in which business digitization brings the fastest ROI is automatic document processing.
Reduce losses
Digital documents optimize your expenses. Less office space, less folders, less paper, less resources to operate them physically. Printing, sorting, manual archiving requires tons of hours of work instead of a few mouse clicks.
Increased productivity
Data in documents is entered automatically. Their processing takes more than 10 times less. If your partners make the documents available to you in electronic format, the processing can take 100 times less.
Eliminate errors
Document processing errors are costly because when an error occurs, there are costs associated with identifying the error and then correcting the error. Automatic document processing eliminates human errors and greatly improves accuracy. When errors are reduced, the associated costs are reduced.
Improves customer experience
What your customers expect from you A quick, error-free response that meets their needs. Whether these clients are company managers or business partners, through automatic document processing, you will be able to provide them in a timely manner with all the information they need.
Increased security
Your data is secure. Needless to mention vulnerability issues when working with physical documents: unrestricted access, loss of documents, etc. The modern sophisticated security restrictions of the new applications can protect your data in any way you want.
Reduce losses
Digital documents optimize your expenses. Less office space, less folders, less paper, less resources to operate them physically. Printing, sorting, manual archiving requires tons of hours of work instead of a few mouse clicks.
Increased productivity
Data in documents is entered automatically. Their processing takes more than 10 times less. If your partners make the documents available to you in electronic format, the processing can take 100 times less.
Eliminate errors
Document processing errors are costly because when an error occurs, there are costs associated with identifying the error and then correcting the error. Automatic document processing eliminates human errors and greatly improves accuracy. When errors are reduced, the associated costs are reduced.
Improves customer experience
What your customers expect from you A quick, error-free response that meets their needs. Whether these clients are company managers or business partners, through automatic document processing, you will be able to provide them in a timely manner with all the information they need.
Increased security
Your data is secure. Needless to mention vulnerability issues when working with physical documents: unrestricted access, loss of documents, etc. The modern sophisticated security restrictions of the new applications can protect your data in any way you want.
Find out what we can offer you
InvOn
- Contains 3 robots
- Automatic processing of invoices and their introduction in ERP / Accounting Program
- Processes over 600 invoices / hour
- Reduces billing time by 70-80%
- Eliminates data entry errors
- General cost reductions of 50-80%
BankOn
- Contains 2 robots
- Automatic processing of bank statements, receipts from payment processors and couriers, reconciliation and their introduction in ERP / Accounting Program
- It processes over 3000 transactions / hour
- Reduces input time by 80-90%
- Eliminates data entry errors
- General cost reductions of 70-80%
ProcessOn
- Hyperautomation solution that automates complex processes, integrating new technologies such as: RPA, Artificial Intelligence and Machine Learning.
- Integrates pre-existing solutions (InvOn, BankOn, PayOn, etc.) together with customized solutions resulting in a complex application with a high degree of automation.
- No operator intervention or minimal intervention
- General cost reductions of 90-95%
CashOn
- CashOn is a payment and cash flow management solution.
- Know at all times the cash available
- You forecast the cash available for a period of 30 days
- You can make payments quickly, securely and in addition you can automate the payment proposal on various criteria.
- CashOn will choose for you the most advantageous payment option for reducing bank fees.
Portfolio
We present to you some of the companies that collaborate with us, on their way to Digital Transformation. All our robots have been implemented in close collaboration with our customers, so as to automate as much of their processes as possible.
Partners
Portfolio
We present to you some of the companies that collaborate with us, on their way to Digital Transformation. All our robots have been implemented in close collaboration with our customers, so as to automate as much of their processes as possible.
Partners
An integrated solution for all industries
Although InvOn and BankOn applications are addressed directly to the finance-accounting and other departments, they can use InvOn in their work.
Order processing, introduction of goods invoices in management is addressed especially to sales and supply departments.
For other documents that are required within the company, through the DocOn application you can implement automation of complex processes, from one end to the other, reducing human intervention to a minimum or without human intervention at all.
Accounting – Audit
Automation of accounting workflows and accounting
Accountants and departments receive countless documents (in physical format – on paper-, or in electronic format): invoices, bank statements, payment processing slips, courier slips, purchase orders, expense reports and much more.
You can process these documents with our applications and send them directly to the ERP / accounting program.
The workflow can be completely automated, by taking these documents directly from the source (email, bank, cloud, etc.), automatic processing without human intervention and sending them automatically to ERP / accounting program.…
Save hours of manual data entry and improve accuracy
In short, you can save hours of manual data entry. Improve your accuracy, as our data extraction software does not allow you to enter them incorrectly.
Equip the financial-accounting department with fast and secure processing tools that will improve their productivity.
Find out more about the industry and digitization solutions
Gartner says companies need to reset business strategy due to COVID-19 pandemic
The reset takes place in three stages: response, recovery and renewal.
Successful resets also create organizational resilience. As organizations eliminate weaknesses and amplify the strengths of their business and operating models, they will be better positioned to withstand the next disruption.
Gartner says 69% of boards accelerated business digitalization initiatives after COVID-19 shutdown
Motivated by the emergence of COVID-19, digital technology initiatives will serve as a strategic priority for the next two years, followed by customer management and remote work management.
86% of respondents believe that digital technology has a transformative role in addressing strategic priorities, which is why most organizations expect to create a new “Chief Digital Officer” role to respond to COVID-19 in the long term.
What does “digital” really mean
Everyone wants to go digital. The first step is to really understand what this is.
Companies today are rushing to become more digital. But what does digital mean?
For some executives, it’s about technology. For others, digital is a new way to interact with customers. And for others it is still a completely new way of doing business. None of these definitions is necessarily incorrect. But such diverse perspectives often hinder management teams because they reflect a lack of alignment and a common vision of where the business should go. This often leads to fragmented initiatives or wrong efforts that lead to missed opportunities, slow performance or false starts.