REDEFINE YOUR BUSINESS WITH MOBILE CAPTURE

Transcription

1 REDEFINE YOUR BUSINESS WITH MOBILE CAPTURE Capture-enable mobile applications INFORMATION CAPTURE CONTINUES TO EVOLVE While the capture industry was perfecting its operations, the digital world is closely transforming and changing the way we do business. Customers are demanding much faster responses to their requests. Digital content is creating more and different types of exceptions that need to be dealt with. Document quality and the information it contains has much greater variation. More types of documents are being received and new sources of input are being redefined and instituted. Digital content is thriving and to remain agile and to stay ahead of the game and the competition, mobility is the key. EMC PERSPECTIVE

2 TABLE OF CONTENTS INFORMATION CAPTURE CONTINUES TO EVOLVE... 1 KEY BUSINESS DRIVERS FOR MOBILE CAPTURE3 Customer Service/Customer Experience... 3 Expanding Service Offerings... 3 Enhanced brand exposure... 3 Competitive Parity/Services differentiation... 3 Perception/Relevancy... 4 Operational Efficiency... 4 MOBILE CAPTURE USE IS GAINING A FOOTHOLD IN VARIOUS INDUSTRIES... 4 Financial Services... 4 Insurance... 6 Public Sector... 6 CUSTOMER CONVENIENCE IS A TOP PRIORITY 7 WHY EMC CAPTIVA

3 Organizations are constantly looking into new ways for capturing data and processing of information from anywhere via mobile devices. Customers in this digital world continually expect real-time response and pressure the businesses that they deal with to change their processes and remove any extraneous or manual work. Capturing information at the point where it originates, and to deliver this information to enterprise applications for processing will accelerate the business processes, speed-up transactions, and reduce costs for processing those requests. Financial services institutions, insurance companies, and public sector agencies to name a few are today evaluating how to integrate mobile devices into their existing processes to provide easy access to their services and product offerings. The ultimate goal is to shorten the reaction time, reduce their operating costs, and streamline data communication with customers, partners and employees. KEY BUSINESS DRIVERS FOR MOBILE CAPTURE The demand for mobile capture is widespread and has many use cases. Numerous discussions with organizations and our customers have revealed key drivers for offering capture-enabled mobile services. Most organizations are highly aware of the business drivers for a mobile capture application strategy. It is key and essential to point out that these same business drivers are driving businesses to implement mobile capture enablement strategies and clearly put them into practice. CUSTOMER SERVICE/CUSTOMER EXPERIENCE With the rapidly growing smart device market and the ever increasing sophistication of these devices, customer service and customer experience are quickly being transformed. Capture-enabling mobile applications can be a key technology enabler for customers to improve the customer experience for of their consumers. Enhancing the services and capabilities of their mobile applications improve customer experience resulting in attracting new customers and customer retention. EXPANDING SERVICE OFFERINGS By making it easy for end-users to apply for a new service, banks and insurance companies are leveraging mobile devices to expand their business relationships with their customers. When new services, such as a loan or a new policy can be easily initiated using a mobile device, customers are encouraged to seek that service from their existing institution, rather than shop around for a better deal. ENHANCED BRAND EXPOSURE All customers large and small are looking to expand their brand to new customers within existing markets of geographic regions or to expand into new markets or geos. An efficient and effective way to do this is to offer capture-enabled mobile services that can reach across boundaries with minimal R&D. In the Financial Services market, offering a multitude of mobile services (e.g. account openings, check deposit, loan origination, claims submission, etc.) allows financial institutions to extend their brand to the ever growing smart device carrying consumers. COMPETITIVE PARITY/SERVICES DIFFERENTIATION Capture-enabled mobile applications enable Financial Services customers to easily roll out new financial services for reasons of competitive parity or differentiation of services. To stay relative, smaller regional institutions see the need to offer mobile banking or insurance services in order to stay competitive against their larger counterparts. For larger institution it s all about competitive differentiation. Adding additional services to their mobile application can be a key differentiator. 3

4 PERCEPTION/RELEVANCY Customer perception is an unusual driver for mobile technology. Up and coming banking or insurance companies are being established by marketing to the Gen Y or Gen X demographic. Companies like Geico or Progressive advertise to a decidedly younger crowd and create the perception of a company that is hip, technically savvy and is the new way of doing business. Older, more traditional institutions like Harford Insurance, State Farm and others tend to market to an older demographic and are perceived to do business in a more traditional manner. Offering capture-enabled mobile services allow companies to bridge the perception gap between the new way of doing business and the more traditional ways. OPERATIONAL EFFICIENCY Capture-enabled Mobile applications eliminate the need to process paper and the manual efforts to handle that paper. For any organization that has field agents (i.e.; account managers, brokers, claims adjusters, etc.) where they are handling and sending documents, expense statements with receipts, images of claims or any other physical document, the effort and steps to send and process these is time consuming and inefficient. Capture-enabled mobile applications enable these agents to capture images and submit electronically, thereby eliminating the steps to scan or send. In addition, on these documents can then immediately be submitted to the appropriate business workflow for processing. Figure 1. Mobile Capture MOBILE CAPTURE USE IS GAINING A FOOTHOLD IN VARIOUS INDUSTRIES FINANCIAL SERVICES Few industries have a greater appreciation for the time-sensitive nature of information than the financial services industry. A growing number of the most respected names in the financial services industry are now focused on ways to capture and manage the large volumes of information their businesses receive every day. They are now turning to self-service concepts and looking into other acceptable ways of ingesting business- 4

5 critical information. Departmental point solutions and basic imaging technology only go so far. Remote mobile capture is providing a new avenue to capture information at its source to provide end-to-end solutions. Self-Service customer initiatives in the forefront Nielson s latest survey of American consumers has estimated that smartphones now account for around 64 percent of all mobile phones used in the U.S. Furthermore, the survey also concluded that 80 percent of Americans, who recently bought a new phone, bought a smartphone. These numbers only support the American household but this same trend is happening globally. In the retail banking world, self-service mobile capture initiatives are continuously being offered and managed as a part of a new service that can extend into their consumer base and providing value in a variety of areas. Following are a few examples of mobile capture initiatives that retail banking and financial institutions are aggressively implementing. Remote Deposit Capture (RDC): This basically extends transactional check deposit services to the hands of the consumer. Remote check deposit capabilities are gradually being embedded into higher-level mobile banking applications. This essentially provides check image capture through the convenience of using the camera of the smartphone or tablet device. Providing automatic check image cleanup and submission ensures a successful remote deposit transaction. Eliminating the need to mail-in, use an ATM or stand in line at a bank branch to deposit a check spells convenience Mobile Bill Pay: With services like mobile remote check deposit as a sort of icebreaker to help customers become more accustomed to using their mobile devices for more than just checking balances and transferring funds, mobile photo bill is now starting to make waves. And now that these customers are comfortable snapping a picture of a check to make a deposit, taking a picture of a paper bill and automatically paying it from a connected account will continue to enjoy a much faster adoption curve than mobile check deposit Mobile Loan Origination: The cross-selling of high-margin loan services through mobile capture is another service that is not too far behind. This type of selfservice initiative tackles the mobile loan application process with embedded image capture of driver licenses, pay stubs, and other required financial supporting documents. This service provides a near real time data extraction and user validation capability to complete and submit an application with accompanying confirmation Mobile Customer On-boarding: From credit card applications to new account enrollments, effectively managing the vast amount of incoming information that pertains to enlisting new customers is an enormous administrative task. Valueadded services like account openings are evolving from branch to digital. A host of different supporting documents like ID and salary verification sheets, qualification and account creation enrollment forms can quickly be managed and processed through remote mobile capture. This helps to increase revenue and bolster customer satisfaction by quickly jumpstarting the enrollment process and allowing businesses to process more applications with fewer operators at substantially lower costs 5

6 INSURANCE Throughout the insurance industry, rising customer expectations and decreasing margins are forcing businesses to cut costs and increase efficiency by automating paper processes. In the midst of unprecedented new regulatory requirements and corporate governance standards, insurers are forced to invest in new technology to optimize the handling of mission-critical information in order to remain competitive. To help maximize cross-selling opportunities and maintain low defection rates, more and more insurance companies are seeking new tools and services to allow their customers control over how, when, and where they interact with their service providers. Mobile capture applications for the insurance industry help bring providers closer to their customers by streamlining the flow of information into enterprise applications. Multiple policies, multiple documents Insurance underwriting is an information intensive process, especially for multiline carriers who face the unique challenge of managing multiple policies and policy types. Mobile capture applications can play a vital role in effectively handling the broad array of account information that pertains to each policy. Incoming documents can now be easily captured into the system through smart mobile phones or tablet devices and assembled into virtual policy files for further business processing. Faster claims processing For distributed enterprises, such as insurance companies with numerous agents operating in the field, mobile capture solutions that are designed to address the complexities of doing business from geographically diverse locations. These new mobile capture solutions help insurance providers increase productivity, decrease their costs, and reduce processing errors by allowing labor-intensive tasks such as mobile capture to be performed at the location where they are most economical. Initiating an accident claim is now as easy as filling up a claim form with the pertinent details, subsequently taking a picture of the accident scene, and submitting these images as information to kick-off the claims process. Instantaneous submission, assurance, and peace of mind that your insurance service provider can now quickly start the process to get you back in motion. PUBLIC SECTOR Federal, state, and local governments today face a host of conflicting pressures. Declining revenues are forcing agencies to contain expenses, yet demands from citizens, businesses, political officials, and regulators continue to escalate. The notion of do more with less has been tried, and while it has achieved some results, public sector organizations have reached a point where they now need to do some things differently. These organizations need to more effectively capture documents remotely, manage processes, and improve compliance. Mobile capture solutions for the Public Sector helps government agencies: capture critical information at the point of origin and then quickly convert the data into content ready for processing in order to provide faster service to constituents and others; redeploy staff to higher value work; manage both process and visibility in parallel; and increase overall productivity. Agencies improve the management of paper documents that lead to high costs, inefficient processes, and compliance risks. 6

7 Mobile capture for all branches and agencies Virtually every public sector branch and state agency can benefit from the value of mobile capture technology. In larger organizations, the mobile capture solution can be managed as a part of a new service that can extend into multiple departments, providing value in a variety of areas. Following are a few examples of how mobile capture can help the public sector and government organizations. Revenue services: Aids in processing personal and corporate income tax information by easily capturing tax related supporting documentation Employment and labor departments: Use mobile capture to extract data from wage reporting, assistance benefits, and licensing documentation Transportation departments: Utilize mobile capture for motor vehicle registration, accident reporting, and drivers licensing documentation Parks and recreations services: Helps process hunting and fishing documentation and parks to include records management Health services: Helps in processing Medicare forms and medical records Judicial branches: Aids in processing court and criminal records Education departments: Helps to manage scholastic testing materials and facilities management documents These are but a few examples of what a mobile capture solution can provide all branches and agencies within the public sector. There are more industries venturing into capture-enablement through their mobile solution offerings for their end users and/or customers. As customers become more comfortable in using their smartphones or tablet devices for virtually any type of transaction through mobile capture, this will undoubtedly further increase the need and adoption of these types of self-service initiatives. CUSTOMER CONVENIENCE IS A TOP PRIORITY Mobile capture is now enabling organizations to use a familiar channel as an integral part of their customer service offerings. This provides end-users and consumers increased convenience and choice as well as quicker availability and access to relevant information for an overall improved customer experience. Using a smart mobile phone or a tablet device to capture the document image, rather than using a conventional scanner, makes remote mobile capture very transportable, easily within reach and available whenever it is required. To name a few, the benefits to end-user and consumers are enormous: Document submission can be done as soon as the document is found or available eliminating the need to ship, mail, lose or forget to send them in altogether Mobile remote capture provides a service is always within reach 365 days a year, 24 X 7, easy to use, and provides utmost convenience for customers who are not located near a branch office or desktop scanner End-users and consumers are given valuable time back in their busy and hectic schedules to focus on other activities and are not removed from their business routines or forced to ship and/or mail their documents for further processing 7

8 WHY EMC CAPTIVA The volume of documents your organization plans to capture is an important requirement to understand. Page volumes can be extremely high for some organizations, surpassing a few million pages per day. And with the introduction of mobile capture as a new source of input for information can add additional load to the paper volumes being processed by the organization. If the vendor you are considering does not have customers that match your volume requirements, then their solution may not be reliable to handle those types of volumes. EMC Captiva has the advantage in high-volume enterprise capture, where our architecture & per server performance excels. This is important for mobile capture applications that are handling additional volume of information. EMC Captiva has the backbone and backend infrastructure that can handle all of this. EMC is the leading global provider of intelligent enterprise capture solutions. EMC Captiva intelligent enterprise capture automates the processing of billions of documents annually, reducing costs, improving information accuracy, and streamlining business processes. This offering can be leveraged with your existing investment or utilized with a complete end-to-end EMC solution for managing the lifecycle of transactional content. EMC Captiva is the best in class intelligent enterprise capture platform available in the market today. EMC Captiva Mobile Capture solutions are part of this offering. Our mobile capture solutions make it easier and faster for our customers to deploy mobile applications that include on-device capture and ultimately making it easier to capture high quality images for processing. This provides efficiency and additional capability to the multichannel capture process; automatically import images form any mobile device, classify information, leveraging server-side advanced recognition for mobile image processing, perform data extraction, and efficiently deliver actionable data extracted to a backend system or a content management repository for further business processing. The EMC Captiva Mobile Capture solutions provide a new and exciting gateway of capturing data, providing a quicker and easier way of accelerating the business process, saving time and money. EMC is a technology vendor that can address your complete business needs. Over recent years, the capture market has consolidated to some degree, which has proven beneficial to organizations seeking solutions that involve not only capture, but also solutions that can manage the processing of information, and address content archiving and storage requirements. EMC has a global network of partner solutions that can be leveraged to transform customers' business and help meet their needs. EMC also has superior Consulting Services experience and expertise. EMC Captiva is fully supported through EMC's own enterprise content management repository and backed by a stable, financially secure Fortune 500 company. Working with a single vendor can be a significant benefit reducing the number of parties involved in solving business problems enables an organization to communicate needs more effectively, and as a result, get the most out of their investments. EMC also offers Managed Services OnDemand (MSOD) for EMC Captiva. This is an enterprise-class hybrid cloud offering that can be deployed in an on or off-premise data center. It is a completely shrink wrapped environment which incorporates all EMC hardware with access provided through your secure VPN. MSOD is a service offering. It s a deployment model offering the same products you re familiar with. 8

9 None of the EMC Captiva products have been altered to suit this environment. MSOD for EMC Captiva is managed by EMC Experts. With MSOD you are getting capture application experts that know how to configure the applications to perform at their peak. This type of deployment has been delivering anywhere from 30 to 60 percent total cost of ownership (TCO) savings to organizations. MSOD for EMC Captiva is clearly an alternative deployment model that any other capture vendor competitor currently offers. CONTACT US To learn more about how EMC products, services, and solutions can help solve your business and IT challenges, contact your local representative or authorized reseller, visit or explore and compare products in the EMC Store. EMC 2, EMC, the EMC logo, are registered trademarks or trademarks of EMC Corporation in the United States and other countries. VMware is a registered trademark or trademark of VMware, Inc., in the United States and other jurisdictions. Copyright 2014 EMC Corporation. All rights reserved. Published in the USA. 10/14 EMC Perspective H EMC believes the information in this document is accurate as of its publication date. The information is subject to change without notice.