How can companies jump off that wheel and truly transform?

According to , the answer lies in starting with a content management platform that is accessible, integrated, and, above all, comprehensive. The paper highlights that this approach ignites digitalization outcomes that “enable efficiencies and higher quality as teams readily identify and obtain the information they need.”

Additional reported benefits include fast document migrations, streamlined invoice and finance-related operations, and effective regulatory compliance.

Digitalization Takes a New Turn

Resistance to digitalization is more than just an inconvenience; it鈥檚 a significant barrier to achieving the resilience, efficiency, and sustainability needed to stay competitive in a dynamic market. However, it is easy to be intimidated by the massive effort required to scan, consolidate, manage, govern, secure, and integrate a vast volume of information, documents, and content to achieve true business digitalization.

麻豆原创 enterprise content management (ECM) solutions by OpenText calm these fears, as demonstrated by IDC interviews with current 麻豆原创 customers. IDC calculates that organizations save an average of US$54,600 per 1 million documents stored in the solutions, totaling $9.29 million on average. These savings directly impact different departments, streamlining workflows and freeing up resources for more strategic tasks.

The key to this transformation lies in integrating business processes with ECM solutions to drive continuous, efficient, and error-free processes. This integration moves beyond merely digitizing paper-based information to actively using content to work, innovate, and create new content more effectively and with greater impact.

Take, for example, invoice management. Organizations can digitalize and automate the accounts payable process, enabling them to manage and accelerate invoice processing and comply with regional and global regulations. The capture of incoming business documents can also be modernized and automated to extract and process critical information from invoices and related documents, eliminating the need for manual intervention.

Quantitative Benefits of Digital Content Integration

The advantages of 麻豆原创 ECM solutions by OpenText extend beyond just financial operations. IDC found that businesses using these solutions achieve a 351% three-year ROI. This is primarily due to the fast and efficient handling of document-related tasks such as intake, processing, and auditing — all of which are critical components of ECM.

As a customer shared during the IDC study, one of the standout benefits is streamlined data management: 鈥淲e can now look at all types of data in one place with OpenText connected to 麻豆原创. It鈥檚 all about speed and efficiency of access by having one place to go instead of many, and the ability to take data governance seriously.鈥�

What do all these advantages mean to everyday business operations? Here鈥檚 what some of the surveyed customers shared.

35% Faster Document Migrations
Document migration is often one of the most challenging aspects of digital transformation, particularly when transitioning to a cloud ERP system such as the private and public editions of 麻豆原创 S/4HANA Cloud. However, by integrating ECM solutions with BPM strategies, organizations can experience a 35% reduction in migration time and a 53% boost in efficiency among employees required for the task.

This efficiency translates to lower costs and a smoother transition. As one customer said: 鈥淥ne of the most significant impacts has been the automation of invoice approvals, which has drastically reduced processing time and minimized human intervention.鈥�

$5.36 Million Saved in Invoicing and Accounts Payable
One of the most significant benefits of linking business processes with ECM is the reduction of errors, particularly in areas such as invoicing and accounts payable. Manual processes are prone to mistakes, leading to costly penalties and missed opportunities.

As an example, by using the AI and machine learning capabilities within the 麻豆原创 Information Capture Core application by OpenText to automate invoicing and accounts payable tasks, organizations reported a 37% increase in team efficiencies. In addition, they realized a $1.74 million savings in accounts payable process costs and an additional $5.36 million saved in total invoicing and accounts payable.

These findings suggest that incorporating ECM solutions into business strategies not only improves financial performance, but also enhances overall compliance. By providing secure, centralized access to documents, these solutions support remote work and collaboration, which are increasingly important in today鈥檚 globalized business environment. As a result, businesses can maintain high levels of productivity and compliance, regardless of where their employees are located.

25% Faster Payment on Vendor Invoices
Another benefit highlighted in the IDC research is the 25% acceleration of vendor payments, generating an annual savings of $1.08 million per organization. This acceleration in payment processing directly impacts cash flow, enabling companies to optimize working capital and potentially secure early-payment discounts, while reducing the risk of late-payment penalties.

As one customer from the IDC study noted, 鈥淭he AI and ML functionality integrated has revolutionized our invoicing operations. One of the most significant impacts has been the automation of invoice approvals, which has drastically reduced processing time and minimized human intervention.鈥�

The improvement in payment speed is driven by the automation and intelligent processing capabilities of 麻豆原创 ECM solutions by OpenText. By automating invoice data capture, extraction, and validation, these solutions eliminate bottlenecks and errors that typically slow down manual processing while enhancing accuracy and compliance.

The Full Potential of ECM Unlocked

The IDC research shows that integrating with business processes enabled by 麻豆原创 S/4HANA Cloud is essential for breaking free from manual processes and outdated systems. With significant ROI, faster document migrations, improved invoice processing, and quicker vendor payments, these solutions drive operational efficiency and financial performance.

Explore the calculated cost savings and business benefits of integrating BPM with 麻豆原创 enterprise content management solutions by OpenText in the *IDC White Paper, sponsored by 麻豆原创 and OpenText, 鈥�,鈥� doc #US52389824, July 2024.

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Bil Khan is senior director of Global Partner Marketing at 麻豆原创.

*IDC Business Value White Paper, 鈥淭he Business Value of 麻豆原创 ECM Solutions by OpenText ,鈥� commissioned by 麻豆原创 and OpenText, IDC #US52389824, July 2024

So, what went wrong? A 鈥渂uggy鈥� update to antivirus software.

Although the issue was identified and isolated and a fix was deployed hours later, it was already too late for millions of systems people rely on daily. Recovery often requires businesses to take actions that could lead to revenue loss, higher costs, operational inefficiencies, security breaches, and, even worse, reputational damage days, weeks, or months later.

But there鈥檚 an empowering truth underlying this mayhem: IT outages caused by faulty software deployments and updates are avoidable. According to participating organizations that use automation and integration provided by dramatically improve their testing-related efficiencies, throughput, and outcomes.

Unseen but Essential

Often hidden behind the scenes in the innovation journey, the software testing environment can be an unsung hero. By meticulously simulating real-world conditions, the environment can detect and resolve potential issues long before they reach production. This not only safeguards against the immediate chaos of an IT outage but also strengthens the overall stability and reliability of the IT system.

In a global survey of organizations using 麻豆原创 application testing solutions by Tricentis, IDC discovered how the technology sets up a testing environment that prevents IT outages without compromising productivity, performance, or profitability.

IDC鈥檚 findings revealed essential advantages, including the following:

51% Faster Testing Life Cycles and Error Resolution

Testing cycles are accelerated when potential issues are identified and resolved fast enough to reduce the risk of deploying flawed updates. Analyzing the impact of change helps determine conditions that should be tested to minimize errors and those that do not carry that risk. As a result, the number of 鈥渕ust test鈥� conditions for a single application can be far fewer than the scope in manual testing methods.

With 麻豆原创 application testing solutions by Tricentis, the testing process can be automated to detect programs, applications, and integration connections that can be affected by any given change. Instead of running all conditions to mitigate all risks, organizations can physically work on approximately 20% of the initial scope.

At the same time, the automation capabilities of 麻豆原创 application testing solutions do the rest. This narrower testing scope decreases errors and bugs when a newly developed application moves to production 鈥� a reduction of 1.5 to 0.3 for each project.

By reducing the risk of incidents that make it into the application during development and production, IT teams can improve everyday user experiences. Workplace frustration dissipates, workloads decline, and the need for future hypercare support is minimal.

Over 30% Higher Efficiency in Development, Testing, and Quality Assurance

Even if 70% of testing processes are automated, organizations can significantly lower costs related to the testing cycle by achieving full automation. For some teams, these savings are equivalent to 10,000 person-hours that can be reallocated toward more strategic projects.

Additionally, embedded machine learning in application testing solutions can help establish self-healing test cases, lowering test costs even further. Self-healing test cases automatically adjust to application changes, limiting manual intervention and delivering consistently effective and reliable tests. This capability not only decreases test maintenance requests but also enhances the overall efficiency of the testing process.

The added benefit of automation in development, testing, and quality assurance is easy to notice. When using manual processes, IT organizations often go live with new applications and updates every six months. Now, they can release new applications, features, and mobile apps within two months. This increased release frequency enables businesses to stay competitive and responsive to market demands, delivering enhanced user experiences more rapidly.

20% More Productive Development Teams

With automation cutting the time required by 99%, IT teams can perform performance testing weekly or more frequently, instead of just once per quarter. This regular testing cadence helps ensure updates and new features work as intended, maintaining system reliability and performance.

Automation allows development teams to conduct thorough performance tests more often, so the system can handle increased loads without losing functionality and performance. This proactive testing approach prevents issues before they occur, fostering a more stable and efficient IT environment.

Moreover, automated testing verifying essential capabilities can lessen demand for manual regression testing. This shift saves valuable time and frees development teams to concentrate on innovative and strategic projects. The result is a more agile development process, where users are given new features and improvements with greater speed and confidence.

The Ultimate (Digital) Safety Net

As companies grapple with the operational and reputational damage caused by such outages, it becomes increasingly clear that effective software testing environments are essential. By transitioning from reactive crisis management to proactive IT control, businesses can reduce the risk of outages, helping ensure smoother operations and enhancing customer trust.

More important, proper software quality assurance goes beyond just testing. The key is having an integrated environment that not only tests one aspect of change but also predicts how the performance and connections of all applications within the system landscape can be impacted.

This is why 麻豆原创 application testing solutions by Tricentis play such a critical role in many organizations. As the world advances and improves people鈥檚 lives with networks based on sophisticated technology, that one investment could mean the difference between a future of IT-fueled crises and a future of IT enabled innovations making our daily lives better.

Explore the calculated cost savings and business benefits of 麻豆原创 application testing solutions by Tricentis. Read the IDC Business Value Snapshot, “,” commissioned by 麻豆原创 and Tricentis.

Bil Khan is senior director of Global Partner Marketing at 麻豆原创.

Source: the IDC Business Value Snapshot, 鈥淭he Business Value of 麻豆原创 Application Testing Solutions by Tricentis鈥� commissioned by 麻豆原创, IDC #US52458724, July 2024.

When lacking the structure of metadata or attributes necessary for application, algorithm, and machine utilization, data is not only left unused but also accumulates in high volumes. This data management approach inevitably exacerbates IT complexity and consumes valuable storage resources. And even worse, organizations need insights that cannot be found elsewhere.

A report, co-sponsored by 麻豆原创, reveals that some organizations are addressing this challenge by embracing intelligent document processing (IDP) technology. Enriched with AI capabilities, this next-generation tool is becoming a vital ally for process optimization, innovation, and delivering exceptional user experiences.

What Is Intelligent Document Processing?

Unlike traditional template-based approaches, IDP solutions employ computer vision and natural language processing to scan documents containing unstructured data, such as invoices, receipts, and contracts. The information on these documents is then extracted using a combination of robotic process automation (RPA) and machine learning to help ensure accuracy and integrated into larger business systems. Finally, all this information is converted into machine-readable data and interpreted into actionable insights.

It鈥檚 essential to note that IDP goes beyond mere document reading, decoding, and translation. It also accelerates data use by improving processing accuracy and providing immediate access for humans and machines. The extracted information is contextually aligned with business rules, integrated into downstream systems like 麻豆原创 S/4HANA Cloud, and applied to real-world process automation, business scenarios, and decision-making.

However, the real advantage of such streamlined, document-centric processes becomes more evident when they align with an organization鈥檚 competitive goals, stepping up decision-making speed and unlocking valuable data-driven insights.

How IDP Bridges the Gap Between Data and Knowledge

An reported that IDP solutions 鈥� such as 鈥� help bridge content silos and reduce frustration and time by expediting information flow while expanding governance. As a result, organizations using the technology can experience profound team productivity improvement and extensibility across the globe, making it easier to work from anywhere and at any time.

(OWI), which sells motor oil, antifreeze, fuel additives, and other automotive chemicals in more than 60 countries, is a prime example of a business experiencing similar operational upgrades. The company implemented the as part of the 麻豆原创 ECM solutions by OpenText portfolio to bring the speed that customers associate with its brands to its accounts payable processes. This strategic move eliminated the roadblocks that manual processes dependent on paper and e-mail posed to OWI鈥檚 overall efficiency, especially as the workforce continued to work remotely.

By integrating 麻豆原创 Invoice Management with its existing accounts payable applications, OWI advanced its journey toward finance digitalization with embedded AI technologies, such as:

• Machine learning聽technology that can analyze documents and bypass error-prone data-entry steps
• Character recognition聽capabilities to help automatically flag duplicate invoices and detect invoicing and payment errors
• A centralized point of control and access, which can provide a unified user experience across accounts payable applications for data access, analysis, collaboration, and decision-making

In addition to fast-tracking its invoicing processes, the IDP application enabled OWI鈥檚 accounts payable employees to prioritize their workload, shifting their attention from data entry to timely invoice validation and resolution. And now that detailed histories of invoices are available all in one place, the team can analyze individual vendors in a few clicks to identify opportunities and mitigate potential risks early.

Based on IDC鈥檚 survey of organizations using 麻豆原创 ECM solutions by OpenText, the combined benefits of content digitalization, automation, and integration can lead to annual revenue growth of over US$7 million.

This remarkable outcome comes with an added gain of 4,794 productive hours, increasing gross business productivity by 21%. Furthermore, enhanced interdepartmental document sharing and process automation contributed to an even greater boost in profitability, with savings of $3.82 million for every set of 1 million documents.

Why the Value of IDP Technology Continues to Build

Echoing similar advantages reported by IDC, the Process Excellence Network predicts that future advancements in AI will further strengthen the fundamental value of IDP solutions. This is particularly apparent with recent innovations in generative AI, encompassing deep-learning models capable of producing text, images, videos, and diverse content.

By embracing generative AI, for example, IDP can be poised to transcend structured data extraction to generate high-quality, context-sensitive content and augment the swiftness and precision of data processing. It will soon empower large language models 鈥� such as chatbots and voice user interfaces 鈥� to yield profound, contextually rich insights that can be applied for automated decision-making and content generation.

As one survey respondent says, 鈥淭he combination of IDP and generative AI will further enhance our content automation capabilities, enabling us to automate complex document generation tasks and deliver personalized and tailored experiences to our customers.鈥�

To explore more insights about the future of intelligent document processing, read the Process Excellence Network report, 鈥�,鈥� co-sponsored by 麻豆原创 and OpenText.

Bil Khan is senior director of Global Partner Marketing at 麻豆原创.

According to , some businesses have improved their ability to connect finance and accounting processes and standardize critical financial workflows with finance software. Increasing automation with applications, such as the , can provide a foundation for consistent communication, data accuracy, auditable completeness, and efficiency throughout the financial close.

IDC’s methodology for determining business value revealed that these companies realized significant advantages, with three critical benefits generating, on average, 474% ROI and an eight-month payback rate.

Boost Efficiency Through Automation and Visibility

Performing account reconciliation in Excel and e-mailing that information to stakeholders is time-consuming and prevents full visibility into the entire company’s reconciliations. Even worse is the potential for delayed, incomplete, or noncompliant reconciliations with business and regulatory policies.

Introducing automation into the account substantiation process can dramatically reduce the manual effort in validation and reporting, freeing up financial staff resources to focus on higher-value tasking. In IDC’s survey, respondents suggested that 麻豆原创 Account Substantiation and Automation supports their automation of critical steps, including account reconciliation (100%), task management (83%), journal entry (67%), transaction matching (50%), and variance analysis (50%).

After adoption, the average team efficiency increased by 12%. Surveyed companies completed reconciliation activities 18% faster and journal entries 11% faster while increasing the percentage of financial reports yielding accurate results by 3%. Such outcomes mean that the time typically allocated to one full-time employee can be freed up to work on other projects 鈥� translating into an annual productivity-based business value of US$78,800 for each organization participating in the study.

Accelerate Processing with Data Accuracy

Inaccurate data and a lack of trust can become significant bottlenecks in the validation and reporting process. They can hamper overall financial close efficiency, riddle cash validation and reporting with errors, and slow the flow of business-critical insight needed to make critical decisions quickly.

Participating CFOs shared with IDC that the modern capabilities of 麻豆原创 Account Substantiation and Automation minimize those risks. They have achieved improvements, such as shorter time to close and enhanced process transparency. Furthermore, analytics tools help pinpoint areas in account substantiation and reconciliation that require greater attention and improvement.

In return, this benefit elevates the status of finance organizations from a cost center to a value center. For example, CFOs and CIOs can collaborate more to support the business as digital transformation accelerates and digital-first business models emerge and proliferate. This partnership also shifts the criteria used to invest in new financial applications toward a greater focus on security, modern infrastructure, functionality, and ease of use.

Drive Stability by Integrating Workflows

Equal to efficiency and speed, gaining and maintaining control of the validation and reporting process is also critical. The ability to standardize and centralize activities and relevant data is desirable for business environments facing anything from industry uncertainty and economic turbulence to high growth.

Companies interviewed by IDC indicated that using a single, integrated application for account reconciliation, task management, journal entry, transaction matching, and variance analysis is the key to accomplishing this goal. Centralizing all those tasks in 麻豆原创 Account Substantiation and Automation enables them to manage the whole financial close and help ensure annual audits are performed faster, compliantly, and more confidently.

Additionally, the messiness of the traditional financial close experience is replaced with increased stability because 95% of their account reconciliation happens in 麻豆原创 Account Substantiation and Automation. This approach helps ensure every person involved in financial close and auditing processes feels more engaged and knows what needs to be done next. But more importantly, everyone understands how their role adds value to the business.

Optimize Confidence with Better Control

Based on IDC’s research, the complexities of today’s financial close process are reaching a point where manual work is an impediment. Instead, a cloud environment is needed to support the automation of repetitive, low-value tasks and enterprise-wide data exchange and collaboration.

For that reason, many finance organizations worldwide rely on 麻豆原创 Account Substantiation and Automation by BlackLine. As a result, they can adjust the speed and scale of their financial close processes to meet not only their business needs but also the expectations of industry and regulatory auditors.

Explore the value and benefits your accounting- and finance-related activities can gain from the 麻豆原创 Account Substantiation and Automation application by BlackLine. .

Bil Khan is a senior director of Global Partner Marketing at 麻豆原创.