Open Source Enterprise Integrated Document Capture (EIDC) and ECM solution for Financial Sector

CIGNEX Datamatics Confidential www.cignex.com

Open Source Enterprise Integrated Document Capture (EIDC) and ECM Solution for Financial Sector

Version/Date: Nov’15

Om Prakash Mishra [email protected] ECM Expert at CIGNEX Datamatics

Michael Smith [email protected] Senior Account Manager at Ephesoft


• Open Source Today

• ECM Dynamics

• Ephesoft and Alfresco based EIDC

– Architecture

– Features

– Application Areas

• Document Capture Dynamics

• Ephesoft Case Studies & Use Cases

• Why Ephesoft?

• About CIGNEX Datamatics

2

Agenda

CIGNEX Datamatics Confidential www.cignex.com 3

Open Source Today

Open Source Solutions

Intranet, Extranet

Social Networking

Web and Enterprise Content, Document Capture

Enterprise Search

Business Insights & Analytics

Business Applications

Communities

Content Search

Insights

Complex Apps Sites

Open Source Enterprise Applications


ECM Dynamics

Trends Hybrid ECM Solutions Content Application Integration with Business Applications Mobility Governance

Challenges Overflowing File Servers Difficult to Find Content Risk of Information Leaks Information Silos across Solutions

Priorities Risk Management Process Transformation User Engagement Content Analytics

Source: 1) The Future of Enterprise Content Management : Five ECM Trends in 2014 by IDC 2) From InfoChaos to Information Opportunity - AIIM14 Report


ECM Should Support

Multi-Channel Business Solutions Collaboration

Enterprise Search Scalable Storage Digitization

Security Non-Functional

Unified, Organized Content Store

Support

Performance, Speed,

Multi-User, Global

Search, Google-like,

Retrieve, Multi-Source

Approval, Notification,

Push-Pull, Conversion,

Grouping, Authoring

DM, Contracts, DAM,

WCM, BPM, RM, LMS,

Integration etc..

Paper, Electronic

Security, Role-based

Access, Encryption

Consolidation,

Support,

Maintenance

Data/Content,

Versioning, Classification

Storage, Disk, Volume,

Archival, Backup, Retention

User Experience, Anywhere, Any Device


Web 2.0 Enterprise 2.0

6

ECM Lifecycle - Landscape of Engagement

Store

Workflow, BPM

Collaboration Document Management

Web Content Manage ment

Records Management

Manage

Preserve

Deliver Capture

Store

Workflow, BPM

Collaboration Document Management

Web Content Management

Records Management

Capture Deliver

Manage

Preserve

Social Business

Multi-Channel Publishing

Multi-device Mobility

Cloud, SaaS &

Ubiquitous

Enterprise Search

Analytics (BigData, BI)

Automation Auto-

Classification

Enterprise Content Management (ECM)


Alfresco – Open Source ECM

What is Alfresco?

Alfresco is the open-platform for business-critical content management and collaboration that allows you to work anywhere, on any device, with your choice of apps

business critical content platform

tablet & mobile workplace

open standard API for content apps

in the cloud multi-tenant SaaS

on-premise full ECM platform

or both enterprise cloud sync


Enterprise Integrated Document Capture (EIDC)

Ephesoft & Alfresco Integration Solution

8


• The Document Dependency

– Financial, Insurance and Banking industry relies heavily on documents

• Client data, Tax documents, Contracts, Invoices, HR records, Policies, Insurance, Investments

• Controlling IT Costs

– Costs associated with application software, inter-operability, licensing, upgrades, maintenance

• Regulatory & Compliance Requirements

– Business Processes/Workflow

• Collaboration

– Cross-departmental and multi-agency collaboration

• Automation

– Automate Forms Processing and Validation

9

Need for EIDC in Financial Sector


Enterprise Integrated Document Capture (EIDC)

Document Tracking

Document Ingestion

Automatic Sorting

Automatic Data Extraction

Delivery System

Alfresco Ephesoft


EIDC Architecture Diagram

Steps: 1. Scan / import batch 2. Review 3. Monitoring 4. Validation 5. Export 6. Reporting

Pre-requisites 1. Define Alfresco content

model 2. Set up mapping with

Alfresco in Ephesoft 3. Configure workflow /

batch class in Ephesoft


EIDC Feature Comparison

Features

Proprietary Solution

Provider 1


Provider 2


Provider 3 Ephesoft +

Alfresco EIDC

Intelligent Document Capture

Business Rules & Validation

Cursive Handwriting Processing

Remote Scanning

Fuzzy Database

Thin Client

Metadata search

Themes / Skins

Content Modeling


TCO Comparison

Technology Proprietary Solution Provider 1

Proprietary Solution Provider 2

Proprietary Solution Provider 3

Alfresco- Ephesoft IDC

Document Management

USD 263,938 USD 180,304 USD 135,738 USD 55,500

Document Capture*

> USD 130,000 > USD 100,000 > USD 100,000 USD 30,000

On a 2-3 year timeline an organization can

save up to 90% on Total Cost of Ownership (TCO) with Alfresco + Ephesoft EIDC

* All figures for Document Capture are approximation of License Cost only based on Market Trends and for enterprise setup

7580859095

ProprietarySolution

Provider 1

ProprietarySolution

Provider 3

ProprietarySolution

Provider 2

Cost Saving

Cost Saving


Open Source Solutions in Banking, Financial Sector and Insurance

(BFSI)


Document Capture Solution Dynamics

Challenges Increase Automation Value Speed Cost Saving

Priorities Improve Collaboration Cloud Ready Mobile Automated Classification

Trends Advanced Data Extraction Consolidation of Document Capture and ECM Distributed Capture Digital Mailroom


Ephesoft Extracting Meaning from Unstructured Content

The leading innovator of advanced capture and unstructured document data discovery technologies on premise, in the cloud and

on mobile devices

Our Heritage Company Facts

• Founded in 2010 • Based in Southern California • Laguna Hills, London, Rome, India • Investors include Fujitsu • CAGR over 100% • #418 on 2015 Inc. 500

• Veterans in Capture space • Operations genealogy

• First mortgage classification project

• Bring innovation to stagnant industry

16


Ephesoft provides automation at ingestion, reducing the time needed to review documents, extracting key data to further automate business processes, and reduces the time to process those documents.

• Increased worker productivity by 700% • Reduced processing time by 67% • Accuracy rate of over 90% • Increased capacity to win business without

adding headcount

• Implemented in less than 3 months • Saved 100s of hours of employee time • Improved invoice accuracy • Eliminated manual data entry

Speed

Cost Saving

Automation

How Does Your Solution Address This Problem?

17


Target Customers

Financial Healthcare

Government

Banks & Credit Unions Mortgage Lenders Insurance Companies

• Loan Files applications • Claims processing • Accounts Payables • Accounts Receivable • New Account Openings • Mail-room correspondence • Expense reports

Hospitals & Clinics Pharmaceutical • Claims Processing • Applications • Patient Files • Medical Records • Quality Records • New Account Openings

State & Local Education

• Permits • Contracts • Public records • Real Estate Records • Student Records

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What is different?

Why is it better?

Thin client architecture

• Use of open standards • CMIS compliant ECM • On Premise or Cloud • Open and RestFul APIs

without installing plug ins

All features - Ready to use – “out of the box“

Eliminate click charges!

Exceeds capability of legacy capture systems - samples

Java based, Linux and Windows

Recostar and Tesseract engines

19


Alfresco: Auto email purchaser

Amount Validate amount with PO System

Alfresco Task: Contact Vendor | Review

document

No

Integration

CM

IS

New Invoice Folder

Yes

No Yes >$10,000

Alfresco Task: CFO Review/Signature

Signed?

No

Final Check

What does your process look like?

Tag PO Paid → Move PO from New Invoice folder to Paid

folder → Apply Paid Date Tag → END PROCESS

20


Helping Companies Worldwide

21


About

22


About CIGNEX Datamatics

8 #1

14

Open Source Products

Open Source Consultants

Pure Play Open Source Services Company

Open Source Implementations

Global Offices

Open Source Community Contributions

Open Source Books Authored

Business Engagement Platforms 13+ 5+

5000+ 500+ 500+

Portals and Collaboration Portals, Enterprise Integration, Identity Relationship Management

Enterprise Content Management Big Content, Digital Asset, Knowledge Management, Digitization, Enterprise Search, BPM, Workflow

E-commerce B2B E-commerce B2C E-commerce

Big Data Analytics Data Integration, Blending & Enrichment, Data Storage, DW, NoSQL/MongoDB, Real-time & Predictive Analytics, Panoramyx™

Open Source Consulting Application Modernization

OpeRA™ - Open Source Readiness Assessment Managed Application & Platform Services

IOT IOT Reference Architecture VitalStatistyxTM


Enterprise Content Expertise

Solutions Products

Services

Open Source Consulting Application Modernization OpeRA™ - Open Source Readiness Assessment Legacy Migration Application Development & Management Development, Support, Refresh, Performance Management and Managed Cloud Services Testing UI/UX

Document Management

Record Management

Version Management & Encryption

Web Content Management

Workflow

Digital Marketing Platform

Learning/Knowledge Management

Collaborative Environment

Tools for Online Learning

Imaging and Scanning – OCR/Digitization

Capturing, Storing and Retrieving Content

Electronic Scanning

Enterprise Search

Ingestion, Indexing, Processing and Matching

Query Processing

BPM/Workflow

Monitoring and Documentation of Process

Data Processing Tools

Open Contract Manager Manage contract lifecycle, business workflow, streamline operations, increase compliance

RAPIDO - Content Management & Publishing Simplify content management and publishing with Alfresco ECM and Drupal WCM


Thank you

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