Blessing Mhlongo, iOCO Product Manager, KOFAX unpacks intelligent automation and how it can accelerate digital transformation and improve your cashflow

No matter what you call it, Intelligent Automation has come a long way in the past decade and is an integral component of making your business fit for the future.

A modern life demands major changes in the way we transact – largely driven by instant gratification. Take my grandfather. He would sit on his stoep enjoying a cup of coffee early morning. He was happy with Frisco, which is actually chicory and not coffee. And Cremora. This was followed by his son drinking designer freeze-dried coffee – with organic milk– still instant but still out of a bottle into a cup with hot water and voila! Coffee. How different things are today. We need coffee, which was roasted yesterday, freshly ground a few minutes ago and run through a state-of-the-art machine whilst, in the back of our minds, we know that this is a ‘Free Trade’ bean. Bean to cup. Automated. Forgot to mention it should be done with special milk so that the foam has the perfect sheen, and the cup needs to be warm beforehand.

Moral of the story – the new economy is like a ’bean to cup’coffee machine. Best quality. Best experience. Complicated if you unpack it. Simple as pushing a single button. Yet, with all these complicated new processes and integration in place, we still expect the coffee to be ready in the same time it takes to make an instant cup of coffee.

Such is Intelligent Automation. Complicated process. Excellent experience. Oblivious to the complexity.

Intelligent Automation is critical to successful digital transformation. To be considered successful, it must include the following six components:

  • Front-end digitisation (Engagement)
  • Extraction and automation (Data Transformation)
  • Process discovery and documentation (Process Orchestration)
  • Straight-through-processing (Touch-less processing)
  • Analytics (Enabling Transparency)
  • Change management (Drive adoption)

Accounts payable. We all know that shareholders want cash management to be a slick process You are under pressure to lower costs, but manual paper processes, poor cash management and weak controls create unproductive, labour-intensive operations. There is a better way.

With Kofax AP agility, gone are the days of handling documents manually and AP Clerks chasing papers around the organisation. We completely transform the way organisations handle the AP process.

By leading with automated, intelligent digital documentation the focus can shift to creating rules that minimise user intervention. This lowers the processing time, fosters compliancy, and provides complete document control and delivery to line of business applications i.e. ERP, ECM and more. That is processing done.
Digital transformation is a journey. Intelligent Automation is an enabler. And Kofax AP Agility is your secret weapon to accelerate adoption and transform your business by having a positive impact on your ability to manage your cashflow.

Blessing Mhongo has spent many years at iOCO and has a passion for digital transformation and intelligent automation. He has extensive knowledge and experience in the financial sector and was directly involved in many implementations of complicated KOFAX solutions.