Canon Business Process Services: Outdated, Inefficient Workflows Still Hindering Business Productivity at Many Companies
June 03 2015 - 1:00PM
Business Wire
According to Canon Business Process Services, a major paint
point for many companies is improving manual, paper-intensive and
often antiquated document workflows so business transactions can be
completed more efficiently. Canon adds that in order to alleviate
this and other challenges, some companies are obtaining significant
business benefits by implementing automation technology and
strategies.
In a recent IDC Technology Spotlight, sponsored by Canon
Business Process Services, one key finding focused on the specific
source within document workflows that prompted automation. One
third of the respondents (33%) mentioned that they manually extract
content from paper-based workflows to integrate content from the
document within the workflow, while 22% stated that they manually
extract content from digital documents1.
According to the IDC Technology Spotlight when organizations
deploy services and solutions that digitally convert and integrate
content within a workflow, users obtained significant benefits.
Time and cost savings were the two most measured benefits while
productivity was third, followed by error reductions and increases
in revenue and return on investment.
Banking on Top
Performance
A Canon Business Process Services client case study illustrates
the benefits of automation within accounts payable processing. A
bank was failing Sarbanes-Oxley (SOX) audit findings and
experiencing low overall accounts payable (AP) processing
performance. The bank received, via mail, about 8,000 non-purchase
order paper invoices monthly. This was increasing the cost and
cycle time of the invoice process. Integrating non-PO invoices with
the procure-to-pay system that processes the bank’s PO invoices
electronically could improve operational efficiency, increase
on-time payment, reduce costs and improve its SOX compliance.
Canon implemented a solution that includes centralized receipt
of the non-PO paper invoices, automated workflow for processing the
invoices and improved procedures for managing exceptions. Results
include an eighty percent reduction in the number of SOX audit
findings during the past year. Additionally, the bank realized a
twenty percent reduction in overall AP processing costs annually
and a significant reduction in invoice payment cycle time.
The Canon-sponsored IDC Technology Spotlight also highlights the
annual returns that financial services, insurance, manufacturing
and healthcare companies are obtaining by automating document
workflows. These returns include cost and time savings,
productivity improvement and error reduction.
For insights contained in other Canon Business Process Services
white papers, survey reports and case histories focused on process
automation visit the Resources page of Canon’s website.
About Canon Business Process Services
Canon Business Process Services, Inc. offers a comprehensive
portfolio of managed services and technology across information and
document management, business process outsourcing and managed
specialty staffing. Combining singular experience and process
knowledge, Canon Business Process Services helps clients improve
operational business performance while reducing costs and risks.
Named a Global Outsourcing 100 Leader in 2015 by IAOP for the ninth
year; the company is a wholly owned subsidiary of Canon U.S.A.,
Inc. Learn more at www.cbps.canon.com and follow us on Twitter
@CanonBPO.
1. IDC Technology Spotlight, sponsored by Canon Business Process
Services, Document Workflow Study: Implementing Solutions and
Realizing Benefits. Adapted from Business Workflow Automation and
Optimization Study Drivers, by Ron Glaz, and three reports: Pain
Points that Drive Manufacturing, Healthcare and Financial, IDC
#252543, #252417 and #251828
All referenced product names, and other marks, are trademarks of
their respective owners.
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Canon Business Process ServicesKen NealFellow, Corporate
Communicationskneal@cbps.canon.com
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