What are the essential ingredients of Capture 2.0?

The teaming of advanced machine learning technologies with traditional OCR and Robotic Process Automation (RPA), is providing new possibilities for organisations overwhelmed with processing a digital deluge of messages and documents. Frank Volckmar, Managing Director of TCG Australia and New Zealand, believes the possibilities unleashed by these new cutting-edge technologies have unleashed a new paradigm, variously described as ‘Hyperautomation’ or ‘Capture 2.0’.

TCG Process utilises the Skilja classification engine in its intelligent document process automation platform, DocProStar.

Volckmar sees the rising use of mobile applications as a critical shift in way consumers wish to engage with many organisations which has paved the way for a shift to online processes. 

“With financial services companies reducing their network of branches and eliminating customer engagement roles in favour of digital applications, loans and claims transactions, the volume of digital documentation has increased dramatically.  This is both a challenge and an opportunity,” said Volckmar.

“The confluence of high-performance classification, RPA and Web services technologies with proven validation methods and data capture is enabling organisations to respond faster and smarter to customers digitally.  The fintechs have set the expectation with consumers and technology is now making it easier for others to transform. 

“Adopting these IDP platforms is becoming a business imperative to win business and streamline costs.  The ability to deliver a high quality, fast digital customer experience is becoming a defining criteria for many organisations.”

Predicting that Hyperautomation would be one of the Top Strategic Technology Trends for 2021, The Gartner Group noted that, “Many organizations are supported by a “patchwork” of technologies that are not lean, optimized, connected, clean or explicit. At the same time, the acceleration of digital business requires efficiency, speed and democratization. Organizations that don’t focus on efficiency, efficacy and business agility will be left behind.”

TCG Process is working with partners and BPOs in the region to utilise IDP solutions to digitise complex onboarding, application, loan, claims and mailroom processes for many organisations primarily in banking, insurance, healthcare and government.