New and sometimes surprising, new use cases for Optical Character Recognition (OCR) technology continues to materialize. Veterans of the OCR and document capture industry that we speak with are gobsmacked when we share how this well-established technology is being used in new and innovative ways. A recent example involves the use of computer vision in the online gaming industry.
Chances are good that you, or someone you know, has been a victim of fraud. In 2018, the U.S. Federal Trade Commission processed 1.4 million fraud reports totaling $1.48 billion in losses. Credit card fraud was most prevalent in identity theft cases — more than 167,000 people reported a fraudulent credit card account was opened with their information.
We have all heard about GDPR (General Data Protection Regulation), which came into force on May 25, 2018. Its many strict rules for personal data privacy required organizations to do complete audits of their internal systems and processes, which led many to implement new solutions to help them comply. Now, many organizations will also have to understand and prepare for the CCPA (California Consumer Privacy Act), which goes into effect on January 1, 2020.
Organizations adopting intelligent automation across the enterprise are turning to finance as one of the best places to start their digital transformation. According to a recent Forbes Insight survey, “financial transactions or reporting” was listed in the top five most frequently automated processes. But what is IA and what does it do for finance and accounting processes?
Organizations depend on a variety of processes to get things done, including opening new customer accounts, financial reporting, and tracking/scheduling shipments as a few examples. When these processes are handled quickly and efficiently, they deliver meaningful benefits that impact revenue and growth, including enhanced service levels, lower operational costs, and higher customer satisfaction.
According to a recent report by the Everest Group, “a platform of tightly integrated, complementary technologies is what enables end-to-end automation and scale for organizations.”
But what is the pathway for businesses seeking to say goodbye to business as usual, redefine their workforce and digitally transform across the enterprise?