6 Keys to Digital Transformation Success
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This presentation shows 6 Keys to a successful Digital Transformation effort, and gives CIOs insight from the market and other top CIO presentation. It focuses on open systems, modularity, cloud, machine learning, analytics and auto-scaling. In the end, we show how these core keys within the Ephesoft Document Capture and Analytics platform can help with any automation and workflow efforts.
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6 Keys to Digital Transformation Success
- 1. DIGITAL TRANSFORMATION THE KEYS TO SUCCESS
- 2. Extracting Meaning FROM UNSTRUCTURED DOCUMENTS AND DATA SMART CAPTURE +1 Billion Documents Processed to Date Emerging Opportunity SMART ANALYTICS On Premise or in the Cloud CAPTURE NORMALIZE CLASSIFY EXTRACT VALIDATE ANALYZE VISUALIZE
- 3. 3 DIGITAL TRANSFORMATION CHALLENGE FOR IT “Our customers don’t benchmark us against banks,” said Hari Gopalkrishnan, CIO of client-facing platform technology, in an interview with InformationWeek. “They benchmark us against Uber and Amazon.” Bank of America Merrill Lynch 8th Annual Technical Innovation Summit
- 4. 4 DIGITAL TRANSFORMATION KEYS • Open Interfaces Are Required • Leverage Technology To Drive Consolidation • Subscriptions Are The Preferred Model • You Don’t Need To Customize Everything • Rapid Scale-up Scale-down • Rapid Build And Deployment
- 5. 5 OPEN AND MODULAR “Open, for us, isn’t defined as ‘your stuff works great with the rest of your stuff; It means it has to work great with the rest of OUR stuff.” BofAML's CTO David Reilly (Information Week).
- 6. 6 RISE OF OPEN TECHNOLOGY • Open Platforms Level The Playing Field • Quick Access To Innovation • Ease Of New Initiatives • Modularity Is Embedded Software innovation has decisively shifted to open source. CIO Magazine
- 7. 7 MODULARITY BENEFITS • Use Only What You Need • Pay Only For What You Use • Add And Subtract • Simplify Customization • Functionality Per Business Unit • Adapt And Change Ease
- 8. 8 TECHNOLOGY TO DRIVE CONSOLIDATION
- 9. 9 CONTENT IS DISTRIBUTED 72% of larger organizations have 3 or more ECM/DM/RM systems. 25% have 5 or more. Consolidation of existing systems into a single- vendor ECM suite is a preferred strategy for 42% of organizations surveyed.
- 10. 10 HR FINANCE OPPS CUSTOMER SUPPLY CHAIN Payroll Invoice Management Customer Management Order Fulfillment Employee Onboarding Supplier Management Procurement Capital Acquisition Project Management Compliance Contract Management Product Development and Commercialization Performance Management GROWING ENTERPRISE COMPLEXITY
- 11. 11 BENEFITS OF CONSOLIDATION • Cost Savings • Greater Control And Security • Increased Productivity • Better User Experience Blue Fish Development Group https://www.bluefishgroup.com/insights/ecm/benefits-of-consolidating-your- enterprise-content-repositories/
- 12. 12 SUBSCRIPTIONS & CLOUD ARE PREFFERED
- 13. 13 SUBSCRIPTION & CLOUD BENEFITS • Agility • Less Risk • Easier Software Deployment And Administration • Automatic Updates And Patch Management • Improved Compatibility • Easier Collaboration • Global Accessibility Through Web-based Access And Easier Deployment On Different Platforms
- 15. 15 100% CAN BE COUNTERPRODUCTIVE "There is a problem with technologists. The binary nature of technologists is literal. We're driven to deliver everything you might need. But how many menu options aren't used? Typically, more than half. There's no downside to pushing for 100%. But if I can implement a standard solution [without customizing], what am I really giving up? If it's not helping our company grow or reducing risk, it's not worth customizing.“ BofAML's CTO David Reilly
- 16. 16 RAPID SCALING – UP AND DOWN
- 17. 17 PRE-VM AND CLOUD • Auto-scaling Was Expensive • Hardware In Standby = Expense • Over-architecture Common • Complex Hardware Or Software Solutions
- 18. 18 AZURE, AWS AND THE CLOUD: NEW DIMENSION Auto-Scaling VMs Elastic Databases
- 19. 19 RAPID BUILD AND DEPLOYMENT
- 20. 20 WITH THE CLICK OF A MOUSE • Server And Apps Immediately • One Touch • Templates For Your Needs • Sharing
- 21. 21 COMPLEX SYSTEMS QUICKLY • Weeks To Hours • Ease Of Maintenance • Automatic Provisioning • Disaster Recovery And Ha
- 22. 22 DIGITAL TRANSFORMATION GOALS • Buy Technology That Configures Itself (Machine Learning) • Find Off The Shelf That Meets Core Needs • Defining Business Outcomes • Faster Time To Market • Simplicity Of Integration
- 23. 23 DIGITAL TRANSFORMATION SUMMARY • Open and Modular • Drive Consolidation • Subscription & Cloud • Minimize Customization • Rapidly Deploy & Adapt
- 25. 25 ANY SOURCE, ANY FORMAT EMAILS ELECTRONIC FILES FAXES PDFsPAPER DOCUMENTS ATTACHMENTS WE ENABLE SMART DOCUMENT CAPTURE, AT SCALE CAPTURE HIGH VOLUME INGESTION + MOBILE DEVICE INGESTION Unstructured data Documents and images Separate individual documents Meta data from various documents Against other data sources NORMALIZE CLASSIFY EXTRACT VALIDATE
- 26. 26 HR FINANCE OPPS CUSTOMER SUPPLY CHAIN Payroll Invoice Management Customer Management Order Fulfillment Employee Onboarding Supplier Management Procurement Capital Acquisition Project Management Compliance Contract Management Performance Management CloudOn Prem Product Development and Commercialization Solving Enterprise Complexity
- 27. 28 Ephesoft Digital Plumbing – Advanced Capture Enabled MFPs Document Scanners Smart devices eMail FTP/SFTP/FAX RESTful API Classification & Extraction: • embedded in ECM or cloud • reduces manual involvement • increases system velocity • transparent to end users • OCR web services
- 28. 29 OPEN AND MODULAR • Roots In Open Source • Web Centric App • Full Web Services API • Modular/Plugin Based
- 29. 30 FLEXIBLE LICENSING • Standard • Subscription • Cloud
- 30. 31 ADVANCED TECHNOLOGY • Machine Learning – Administrator – Operator • Enhanced Validation Process • Improved Accuracy • Reduced Errors
- 31. 32 CLOUD ADAPTIVE • Cluster Architecture • Built For Auto-scale • Db Flexibility • Web Services Layer
- 32. 33 EPHESOFT MEETS DIGITAL TRANSFORMATION IMPERATIVES • Open & Modular • Flexible Licensing • Works with Existing Investments • Always Innovating • Built for the Cloud
- 33. Extracting Meaning from Content DIGITAL TRANSFORMATION ON YOUR TERMS Document Analytics, Machine Learning and Workflow
Hinweis der Redaktion
- The past 6 years have introduced some amazing and innovative technologies that can be a catalyst for the digital transformation journey. In this overview, I will give you the key factors to consider in transforming your organization, and map those to Ephesoft’s technology, and the impact it can have on an organization
- If you aren’t familiar with Ephesoft, we are a core transformation technology that consists of an intelligent document capture platform called Ephesoft Transact, and a document analytics tool called Ephesoft Insight. We focused on unstructured content, and extracting meaning from documents. A little more on us later…lets talk about digital transformation.
- The demands on CIOs and CTOs have drastically changed over the past decade, and large, legacy enterprises are struggling to adjust and align to the new expectations of customers. The instant on/ instant gratification expectation has been proliferated by the disruption of tried an true industries. To meet demand, and build new infrastructure and services, technology executives have outlined core transformation keys to achieve their goals.
- Here is a summary of the new core keys to digital transformation: -Open and modular software is now required in many organizations. Long gone are the days where you can have a closed, proprietary system that requires specialized manufacturer assets to customize. -Organizations are looking to reduce cots through consolidation, and the reduction of redundant functionality. In our space, this means a focus on repository reduction, and finding technology that can span systems, not just service on a one by one basis. -Subscriptions and cloud offerings are becoming the preferred subscription model -Technologists have never been satisfied with a solution that provides 70% of the required functionality. Organizations are rethinking this, and building a culture of customizing only when absolutely necessary. -The ability to have resources at the ready for rapid scaling is now possible with cloud services like Azure and AWS without massive hardware costs. -Finally, instant on, with short deployment times and a rapid return are becoming the norm. So let’s touch briefly on each of these topics.
- Long gone are the days of proprietary software and system that required an army of vendor consultants for installation, configuration and design. There has been a technical revolution of sorts that is driving an open and modular standard in the industry. With integration being one of the most costly enterprise IT focus areas, organizations are now taking a deep look at system APIs and modularity to insure open interfaces and accessibility.
- The rise of open platforms have leveled the playing field. No longer do only large organizations with large budgets have exclusive access to vendors leading the pack from an innovation perspective. Today, any size company can have quick access to innovative technology to improve their business operations and drive efficiency. New initiatives are no longer tied to long, extensive budget cycles. Now projects can be started at little to no cost. Supporting this concept is the modularity open systems provide access to only required features and functions.
- The move towards modularity is driven by the mentality that you only use what you need, and you only pay for what you use. How many organizations out there only use a small percentage of features and functions, but pay for the whole boat? This new mindset provides simplicity when adding and taking away modules, and allows the simple customization of solutions tailored specifically to the business unit, with easy adaptation and change.
- The existence of duplicate systems with like functionality is a major expense for most organizations. These systems can be legacy entities that just wont die, duplicate systems created through business activities like mergers and acquisitions, or just software features used in specific line of business systems.
- If we just take a look at the content spectrum, organizations are plagued with the existence of multiple repositories. It is not rare for large, growing companies to have 10+ repositories. This puts an immense burden on IT and business units that struggle through upgrades, growing support requirements and the cost of administration. Most of these organizations state a top priority is a consolidation of content systems, and a unified repository.
- Having departments that interact with each other, create shared content and documents, and leverage different repositories creates issues in all sorts of areas, including: security, standardization, records management, capturing metadata and backup and disaster recovery.
- Consolidation brings a host of benefits, including broad cost savings. The ability to control and implement security on centralized content, ease of use for end users which results in improved efficiency and productivity.
- Subscriptions today are not just scene as a licensing option to consider for finance purposes. They are now core to any digital transformation effort for a wide variety of reasons.
- If you tie together the cloud, and the subscription license model, IT groups can provide agile solutions that can free up expensive resources and remove burden from overworked staff by providing ease of administration, automated backups and management of core software. For the end users, a single cloud platform provides compatibility, ease of collaboration and anywhere access.
- In this day and age, many IT departments have become custom software development houses, having to build teams of high paid developer resources to meet internal customer demands.
- There is now a change in attitude, and a deeper due diligence that is occurring to prevent the 100% syndrome we see here.
- New age systems solve the age old problem of over engineering, and now enable elastic and dynamic systems that respond to changing business needs.
- Many of these features have been driving by the cloud, and its focused architecture. In the past, providing any type of dynamic system was costly, and required additional hardware that typically was in a standby state. IT staff, wanting to make sure customers were serviced and systems performed typically overbuilt systems, and purchased expensive hardware and software solutions to automatically scale.
- With the advent of cloud services, like Microsoft Azure, with a few clicks of the mouse, you can build complex,, auto scaling systems. These systems can be deployed in short order, and provide scale up and scale down abilities to provide performance when required, and save cycles during low demand.
- As we wrap up these keys to digital transformation, the final key is focused on a change in timeframe and how quickly systems can now be provisioned.
- In the past, companies would have to identify and order hardware. Gin access to software, and then go through a labor intensive build process from operating system to database to software to updates. Today, with the cloud, systems can be provisioned in minutes instead of weeks. Service and server options grow every day, and organizations can even build their own templates and share them in or out of their walls.
- In addition, the ability to spin up complex architectures now takes a fraction of the time, with ease of maintenance and automation as a key transformation focus. In addition, the complexities of Disaster Recovery and High availability are now minimized through cloud based services and offerings.
- So, today, when looking for software solutions, intelligent buyers now look for systems that can take away customization burden. On the forefront is systems that can configure themselves. Machine learning can provide massive time savings, as administrators and end users configure the system through basic use. Many software companies are focusing on providing off the shelf capabilities to meet high need business requirements, rather than requiring complex customization. All of this provides a faster time to market, and an ease of integration
- Here is a summary of the digital transformation imperatives: -Open and modular software is now required in many organizations. Long gone are the days where you can have a closed, proprietary system that requires specialized manufacturer assets to customize. -Organizations are looking to reduce cost through consolidation, and the reduction of redundant functionality -Subscriptions and cloud offerings are becoming the preferred subscription model TO ENSURE VENDORS CONTINUE TO INNOVATE AND JUSTIFY INVESTMENT. -building a culture of customizing only when absolutely necessary. -rapid scaling is now possible with cloud services like Azure and AWS without massive hardware costs. -Finally, instant on, with short deployment and adjusting to changing needs. So let’s touch briefly on each of these topics.
- So, now that we know the keys…where does Ephesoft’s digital transformation platform fit in? How can we dovetail into providing a seamless match for your needs.
- At the surface, Ephesoft is an intelligent capture platform that can take documents from a wide variety of sources, and using its patented analytics technology and machine learning, automate the classification and extraction of data.
- We provide a digital transformation layer that solves a key problem. The typical enterprise is extremely complex, and bounddaries are created by hybrid architectures, departments, devices, systems and people. The benefit of Ephesoft is in combining our web application and web services, and we really become an enterprise document transport layer, linking departments, systems and people, and creating a standardized and repeatable flow of content that removes tranditional barriers.
- Having departments that interact with each other, create shared content and documents, and leverage different repositories creates issues in all sorts of areas, including: security, standardization, records management, capturing metadata and backup and disaster recovery.
- Ephesoft takes a modern approach. Allowing you to keep what works, and embedding advanced document capture and content extraction within your systems of record. As you add capabilities…again whether on premise or in the cloud, Ephesoft can adapt to your environment
- From an open and modular perspective, Ephesoft was founded as an open source document automation and analytics platform. These roots have persevered in the many versions and iterations of the Product platform, and its modular and open architecture provide ease of integration and customization. All of its application and platform features can be accessed through its open web services layer, providing capture on demand from any application.
- Our licensing is adaptable to any enterprise plan, and you can have it on premise, spread your investment out over time, or take advantage of our cloud-based services to gain maximum agility, flexibility and access.
- Our core technology focuses on a patented analytics technology that streamlines configuration, provides machine learning, reduces erros through increased accuracy and maximizes the impact of automation.
- In our industry, there is a misconception that cloud is just a hosted server with regular software installed. With Ephesoft, our platform was built from the ground up as web-based, and what we call cloud adaptive. This means that our architecture can take advantage of all the cloud infrastructure has to offer, including auto-scaling and enhanced performance.
- In summary, Ephesoft is a catalyst for digital transformation that meets the modern requirements demanded by today’s organizations: Advanced capture with open source at our core and Web service APIs Licensing models to meet customer cultures Leverage existing ERP and LOB applications, not a ground up approach Patented Machine learning Multi-tenant web services in our DNA