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Digitalization – Industry 4.0 – Artificial Intelligence

Künstliche Intelligenz
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Digitalization – Industry 4.0 – Artificial Intelligence

These are all terms that we hear or read very often these days. Today we wanted to reflect on the topic of artificial intelligence (AI).

What exactly is artificial intelligence?

Where and how to use it? What benefits can it bring me and my company?

Artificial intelligence is not that easy to explain, for the simple reason that there is not even a precise definition for the term “intelligence”. Nevertheless, let’s try to explain it :-).

We can say that an AI is a mix of different technologies that enable machines to understand, act and learn with human intelligence. 

Technologies like machine learning (ML or MachineLearning), natural language processing (NLP – Natural Language Processing) as well as Deep Learning (DL) are all part of the AI landscape. 

In all areas where large amounts of data are generated, the use of an AI makes sense and is beneficial. An AI is able to objectively analyze huge amounts of unstructured data within a very short time using sophisticated algorithms, to recognize patterns in it, and to make decisions independently on the basis of these patterns. In addition, the error rate continues to fall due to the constantly growing wealth of experience. AI takes over everyday recurring routine tasks, so employees have more time to focus on tasks that require empathy and become more productive. In other words, AI should not and cannot fully replace a human, but merely support and complement them.

When combined with analytics and automation, AI can help the business achieve their goals, such as improved customer service or an optimized supply chain: faster and easier.

Automations reduce costs and bring a new level of consistency, speed and scalability to business processes.

With DOC², we want to help you automate your document processing processes. By using artificial swarm intelligence, DOC² offers you many advantages.

You want to know what they are?

Then feel free to write to us

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Artificial Intelligence

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Save time with automated document capture!

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Save time with automated document capture!

It’s no question at all that the manual processing and upkeep of documents is an extremely time-consuming process. And, this is only one of the downsides, because we can’t forget about the money, energy and stress it can cause on the team. With the current demand for information to be accessible and secure, companies need to compete on a more high-end and automated level. That’s why document capture comes into play!

At Polydocs GmbH we have developed the ultimate document capturing solution, DOC², which can completely overhaul the manual process by automatically extracting the unstructured data within documents like – invoices, contracts, forms, etc. The main added value is directly perceived on the ROI due to this following advantages: 

  1. Document automation can allow companies to increase process efficiency
  2. Document management can improve communication within the organization
  3. Companies can profit from a paperless and cost-saving change

Document automation can allow companies to increase process efficiency

More than 80% of the information in documents is unstructured, which means that is not instantly available to help employees with their tasks. If we take booking invoices as an example, companies would spend 10 minutes per invoice to finalize this process. If you count on receiving 10.000 invoices per month, this is already 1.700 hours. This is already a huge costly and time consuming process. With DOC² you can reduce that time to 3 minutes, which would have a direct impact of 70% efficiency on time and costs. 

Document management can improve communication within the organization

Einer der Hauptvorteile von DOC² besteht darin, dass es sich nahtlos in jedes DMS- oder ERP-System integrieren lässt. Das bedeutet, dass Unternehmen nicht nur Dokumente digitalisieren können, um sie in ihrem DMS oder ERP zu speichern, sondern auch die von DOC² extrahierten Informationen nutzen können, um sie einfach mit dem Team zu teilen. Auf diese Weise wäre es möglich, Genehmigungs-Workflows zu automatisieren oder zwischen Abteilungen abzustimmen, wie zum Beispiel bei Bestellungen zwischen dem Einkaufs- und dem Finanzteam. Nicht nur die Kommunikation würde verbessert, sondern die Mitarbeiter könnten

Companies can profit from a paperless and cost-saving change

Changes come with an up-front investment in order to implement a document capturing system, but with DOC² the results are instantly noticeable on the added value of the software but most importantly on the ROI too. By eliminating the manual filing of documents and replacing the paper storage space, companies can act more flexibly against organizational downtimes and decision-making times. Organizations will reap the benefits of this boost in efficiency by shifting resources from clerical tasks towards revenue-producing tasks.

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You want to purchase a software?

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You want to purchase a software?

But the costs are too high for you?

For many companies, the investment in new software must be well considered. Advantages and disadvantages are weighed up and the question of cost often plays a major role. Basically, software that suits your company makes your daily work easier and saves you additional costs. Therefore, it is worthwhile to take a look at the subsidies for digitization when procuring software. For example, there are subsidies from Digitalbonus Bayern (for the state of Bavaria) or Go Digital. But you should keep in mind that not all that glitters is gold.

Pitsfalls in the wording

In the case of subsidies, there are often pitfalls in the wording of the application text, the times that must be adhered to, or even the services that are eligible for subsidies. As a result, some grants do not give you a real chance of being approved.

But there are also grants that have a high approval rate and a quite manageable application. We highly recommend these.

A tip from our side: Do not tie a project to a grant and rely on the government. You could be disappointed. Nevertheless, your solution should make business sense.

If you need help with the application process or advice on the various possibilities in your state, feel free to contact us.

Feel free to contact us.

We’ll help you as best we can.

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costs

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The sustainable impact of Digitalization

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The sustainable impact of Digitalization

Digital transformation can be an important tool in addressing critical environmental issues. 

Data analytics, artificial intelligence and related technologies dramatically improve the identification of illegal and unethical activities in financial and retail markets. 

More fundamentally, digital transformation reduces negative environmental impacts like natural resource consumption, pollution and waste. 📑📝

Perhaps one of the most tangible examples of digitalization that has a positive impact on the environment while also providing major business performance benefits is the paperless office (reducing the use of paper in business processes). 

Paperless business is a sound and important environmental practice, but it also contributes to better, more efficient business operations.

Companies are increasingly turning to paperless office principles, and for very good reasons. 

Paper is costly and inefficient and increasingly unnecessary as paperless technologies become widespread and easy to use.

Would you like to try to get rid of some paper in your office too?

Did you get curious?

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The sustainable impact of digitalization

Digitalization vs. Digitization

Digitization
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Digitalization vs. Digitization

What’s the difference?

Understanding the key differences between these two terms is essential when formulating your business strategy. ☝️
 
Let’s have a look: 
 
💡 Digitization means to convert something into a digital format, and usually refers to encoding of data and documents.
 
💡 Digitalization means to convert business processes over to use digital technologies, instead of analogue or offline systems such as paper or whiteboards.
 
In a nutshell, digitization refers to information, while digitalization refers to processes. ✅
 
The distinction between the two might seem like splitting hairs. However, appreciating the difference is important because they are genuinely different things to your business. Each requiring different resources, approaches and tools. 🛠💻
 
Whether you’re using the term digitize or digitalize, make sure you’re referring to the right thing to avoid confusion and misunderstandings.
 
Are you ready to digitalize your business? 🚀 How about starting with digitizing your documents?

Did you get curious?

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Digitalization vs. Digitization