Weekly Roundup – 0514

Category: Blog,

Posted By:

Check out a handful of these articles we shared last week.

 

DocStar™ Acquires DocuLex Document Management Product Suite from Protected Trust LLC

Last week started off with excellent news that DocStar acquired the install base and product suite of DocuLex. This opens up an array of growth opportunities for the company and we look forward to what the future brings with the acquisition. The President of Astria Solutions Group, Thomas Franceski, stated, “We are excited to welcome the DocuLex customers to the DocStar family. There are strong synergies between the two organizations that we intend to leverage to increase the value we provide to each customer.”

 

Opportunities in Workflow Automation Can Boost Bottom Line

In a new CompTIA study, it was shown that process outsourcing has increased in every 1 of 5 businesses. What could this mean for the future of BPA with such a rise? According to the study, “34 percent of companies claimed a significant increase in their use of BPA technology over the past two years. It appears that there is momentum behind this trend. CompTIA asked companies to identify the areas where they hope to see workflow improvements through the use of BPA. The top five: Bottlenecks that slow things down (48% of companies surveyed), Duplication of work (46%), Poor interaction between departments (39%), Difficulty locating documents (33%), and Lack of business process visibility (27%).”

 

How Can a CFO Get Timely, Clean Financial Data?

This article discusses how specific automation processes, such as ones that deal with AP, can improve the financial data processes for CFOs by cleaning up otherwise disorganized methods. “One of the key lessons learned when working on the transformation of the accounting and finance functions is that everyone in a workflow is accountable for the overall result. This enables people to move past the blame game and collaborate to serve each customer of the data. That’s when the CFO begins to really get quality information.”

 

Helping the Insurance Industry Serve Customers

This article covers how automation software will benefit an insurance company. Insurance companies must assist their customers, but without the proper tools to run their own businesses, they are in no shape to help anyone else. With document automation to start, these companies can become more organized and focus on other aspects of their own business. “Key issues [in the insurance industry] remain unresolved, including heavy dependence on paper and low levels of digitization. In fact, one top-tier US life insurer estimates that only 5 percent of their operations are digitized.”