SEAL for Financial Document Management Automation
Responsible for planning, controlling and auditing the company finances and cashflow, the finance department is a crucial component of any business. Though not always obvious, this department is a core enabler of a company’s growth and development. By implementing digital and automated processes to manage and distribute financial documents, finance managers can free up their staff to focus on strategic initiatives and serve the lines of business with accurate and relevant information.
valuable human resources wasted in routine activities with manual processes of data entry, based on paper documents, performed by specialized personnel;
difficult process of control and correction of human errors of transcription of information from paper to fragmented financial or accounting applications;
due to delays in entering data into the system with a direct impact on the relationship with suppliers and delays in completing monthly reports;
due to paper-based processes impending key data to be captured and be readily available for decision.
Our solution
The finance department of any company, regardless of its size, processes a significant volume of paper documents each month and much of the work involves dealing with documents containing sensitive information, which adds additional complexity to an already challenging role. So, it is essential that the finance team have complete control over the documents they work with every day. The reality though is that while more and more companies are using financial document automation to reduce costs and eliminate errors, many organizations continue to use outdated paper-heavy processes, leaving them behind in this world of digital technologies.
- Lack of visibility and control, too many errors and delayed approvals;
- Reputational risk and fines for non-compliance with industry regulations ;
- Missed opportunities to capture early-payment discounts through faster cycle times and lost leverage in negotiations with suppliers;
- High operating costs and inefficiencies with space lost to cumbersome storage and money lost on printing, shipping and physical
Based on SEAL, our next generation content and information governance platform, we have developed process-specific solutions that empower the finance team to protect and maximize the value of their documents by classifying and indexing them for access by any and all that require it. We offer solutions that enable the finance department to digitally manage critical content and business processes associated with financial documents, to help achieve compliance with industry regulations, a significant reduction in cost, and a corresponding increase in operational efficiency.
Simple and convenient financial documents digitization. Combining OCR with powerful artificial intelligence and machine learning our solution extracts business information from documents and automatically routes it to the right users and systems.
Increased productivity trough automation and digitization of finance business processes:
- Ingest and manage huge volumes of documents and make them available on demand to potentially thousands of users simultaneously while maintaining compliance leveraging powerful retention capabilities to store documents in a tamper-proof format;
- View, access, share, and collaborate on documents across your organization or with external stakeholders;
- Instantly find documents based on the business information they contain, including full-text search of their entire content;
- Streamline approvals and document distribution processes with intelligent decision-based routing;
- Better and faster business decisions leveraging a more accurate financial visibility to improve cash flow analysis, liquidity management, spend management, contract compliance, supplier relations and
Increased operational efficiency:
- Empower financial staff to spend more time on strategic activities, such as tackling the supply chain and addressing customer-facing Integration with other applications and systems (ERPs, Payroll and other
line-of-business applications);
- Better management of the month-end accounting close and financial reporting process;
- Faster resolution of disputes with instant access to data and online collaboration;
- ftore opportunities to capture early-payment discounts through faster cycle times;
- Faster resolution of supplier inquiries with ready access to invoice and payment status;
- Speed up sales order processing by capturing all incoming documents electronically and extracting order information
Reference architecture
- Eliminate error-prone manual paper handling and data entry to increase accuracy;
- Automate security and compliance processes to minimize the risk and cost of litigation due to incorrect entry of data on financial documents;
- Provide user-friendly access to business information contained in financial documents, throughout their full lifecycle;
- Increased productivity and alignment with the latest trends – access and manage documents on the go with secure mobile access to meet the growing expectations of mobile workers;
- Connect documents, tasks and people across distributed offices and mobile team members;
- Automate key document distribution processes, freeing up the workforce for more valuable activities leveraging core business processes automation;
- Audit financial documents to increase control and visibility of processes, improve document and information security, and lower regulatory and legal compliance risks;
- Gain additional efficiencies and cost savings through integration with other applications and systems;
- Simple and convenient digitization of physical documents leveraging OCR, powerful artificial intelligence and machine learning capabilities already build into SEAL;
- Capture financial information such as expense management, travel management, capital expenditure approval, accounts payable & receivable, from anywhere leveraging mobile iOS and Android clients;
- Easy to access, share and collaborate on financial documents across your organization or with external stakeholders;
- Create and operate a self-service system for company employees and ensure swift and automated processes for approval and distribution of financial and accounting policies and procedures;
- Automate back-office processes (managing invoices, approving payments, calculating penalties, managing changes in the contracts, ) and other processes that have a direct impact on cash flow and profitability;
- Better management of the month-end accounting close and financial reporting process;
- Faster resolution of disputes with instant access to data and online collaboration;
- More opportunities to capture early-payment discounts through faster cycle times;
- Faster resolution of supplier inquiries with ready access to invoice and payment status;
- Accurately forecast cash flows based on error-free data;
- Make fluid decisions about keeping cash versus taking supplier discounts;
- Gain leverage in negotiations with suppliers;
- Identify opportunities to optimize electronic payment usage and streamline financial
Tangible Benefits
Radically reduce costs through document digitization, consolidation, deduplication, and automation.
Transform paper-based workflows into digital ones and automate document-centric processes to optimize operations.
Digital documents enable AI/ML-powered insights such as automatic document classification and compliance issue detection.
Adopt a digital, modern, metadata-driven architecture to replace paper-based systems or outdated digital platforms with obsolete frameworks.
Ensure compliance through unified governance, records management, and policy enforcement across the entire content lifecycle.
Intuitive design ensuring high adoption, minimal training, and greater productivity for business users.
Find out why we are DIFFERENT
Competitive licensing, fast implementation, rapid user adoption and low maintenance costs vs. traditional DMS/ECM platforms
Metadata-Driven Architecture: Empowering Content with Business Context
Document Understanding, Automate Document Tagging and Categorization and Intelligent Metadata Extraction
Low-Code Efficiency: Build Business Solutions Faster with Clicks and Minimal Code
Powerful yet simple interface, designed for business / non-IT users
Automate Management and Improve Information Accessibility for Daily Business, Audits, and Litigation
Seamless API Integration with On-Prem and Cloud Applications for Cross-Platform Processes
Orchestrate Unstructured Content Management and Compliance Across On-Prem and Public Cloud, for Data Mobility and Rule-Based Control
Content Management Modernization
It’s time to get rid of legacy ECM (enterprise content management) and move to the next-generation content services platform. Use our proven “application-aware” content migration platform – StarMigrator Engine together with a proven and tested methodology to deliver a seamless, risk-free, fast content and metadata migration from legacy platforms (Opentext Documentum, OpenText Content Server, IBM Content Manager, IBM FileNet, Alfresco, etc. into SEAL and start saving money while moving to modern architecture and provide an amazing user experience to the line of business users. Use SEAL to optimize up to 50% of the content management costs, to boost user adoption while leveraging comprehensive content management, information governance, and records management capabilities.
Content Consolidation and Aplications Offloading
Today, organizations generate massive amounts of unstructured content that are dispersed across various locations and systems. This situation poses several challenges, including escalating costs, decreased productivity due to difficulty in finding relevant content, decision-making delays caused by poor metadata quality, and compliance issues.
By moving unstructured content to dedicated content management platforms and connecting this unified repository to line of business applications generating and using content, companies can reduce their costs, the burden on top line business applications, improving their performance and scalability.
Additionally, consolidating unstructured content into a single platform allows for improved information management and compliance, reducing the risk of data breaches and maintaining trust with customers and stakeholders.
Governance and Regulatory Compliance
In today’s business world, companies face an increasing range of regulatory requirements that they must comply with, including those related to tax, fraud, bribery, competition, data privacy and protection, consumer protection, quality, HSE (Health, Safety and Environment), and more. In addition, organizations must be prepared to respond to audits and investigations that are designed to ensure that they are meeting these requirements. These audits and investigations can be costly and time-consuming, and failing to respond to them adequately and timely can lead to significant fines, reputational damage, and legal liability.
One of the biggest challenges that companies face when responding to an audit or investigation is identifying the relevant information that must be produced. This information is most of the time spread across the organization, “buried” in tens of thousands of documents, emails, audio and video files and other records. Finding and organizing this information can be a daunting task, particularly when time is of the essence.
Digital Operations and eSignature
SEAL is a cutting-edge platform designed to revolutionize how organizations manage and utilize their corporate documents. Acting as an Active Document Store, SEAL supports the entire lifecycle of business documents, providing advanced content-centric features essential for digital operations. The platform facilitates end-to-end digital processes, enabling document composition, collaborative authoring, review, approval, and e-signing capabilities.
Compliant e-Archiving
SEAL is a cutting-edge platform designed to revolutionize how organizations manage and utilize their corporate documents. Acting as an Active Document Store, SEAL supports the entire lifecycle of business documents, providing advanced content-centric features essential for digital operations. The platform facilitates end-to-end digital processes, enabling document composition, collaborative authoring, review, approval, and e-signing capabilities.
Sales & Customer Service
In today’s competitive market, delivering exceptional sales and customer service is paramount for organizations seeking to retain customers and enhance their brand reputation. Managing customer-related documents efficiently and ensuring timely responses to feedback and complaints are critical components of this endeavor. Companies must centralize and streamline their document management processes to provide quick access to customer information and automate the handling of feedback and complaints. SEAL addresses these needs by offering a comprehensive solution designed to optimize sales and customer service functions through advanced document management and process automation.
Contracts Management
SEAL for Contracts Management is a cross industry solution that offers control and visibility over all your contracts and supporting documents during their entire lifecycle using full paperless operations. Every single contract is stored, categorized and can be easily and securely accessible from anywhere using any device for a new level of productivity.
Procurement & Supply Chain Management
More than ever before, procurement teams are operating in a challenging and fast-changing environment. They’re tasked with tough operational excellence goals while working with fewer personnel and reduced budgets. By digitizing and automating document-intensive business processes, organizations can gain enhanced visibility and optimize their mission-critical supply chains while reducing manual data entry and data entry errors, improving supplier information management, lowering transaction costs, and accelerating the receiving process.
Finance & Administration
Responsible for planning, controlling and auditing the company finances and cashflow, the finance department is a crucial component of any business. Though not always obvious, this department is a core enabler of a company’s growth and development. By implementing digital and automated processes to manage and distribute financial documents, finance managers can free up their staff to focus on strategic initiatives and serve the lines of business with accurate and relevant information.
Human Resources
The HR department depends on document-driven processes, usually on paper. Paper requires archiving cabinets, and, in time, the amount of paper stored quickly become unmaintainable. Plus, paper tied to bloated processes slows HR Managers down from doing important work that pushes a business forward. Automation and digitalization can help you to reduce the time it takes to complete your HR tasks without sacrificing quality of work.
Legal
In today’s business environment, organizations face numerous legal challenges and risks, including compliance with regulatory requirements, managing litigation processes, and ensuring the integrity of legal records. Efficiently handling these legal matters is critical for minimizing risks, controlling costs, and achieving favorable outcomes. SEAL provides a next-generation platform designed to support legal and litigation management by automating case management processes, ensuring secure document handling, and facilitating compliance with legal standards.
Banking
The banking industry is undergoing a digital transformation, and document automation is a crucial component of this process. Banks need to efficiently manage large amounts of unstructured data (documents, emails) scattered across various locations and systems, while ensuring security and regulatory compliance. Document-centric processes require specialized platforms that are optimized for unstructured content
management and automation, as they should not be managed by the core banking or other transactional systems.
Insurance
The insurance industry faces several challenges, including intense competition, taught compliance regulations, meeting rising customer expectations, and the management of extensive amounts of data and documents.
Automating document-based tasks, including managing internal regulations and policies, risk analysis, claims management, and underwriting policies, is a crucial undertaking, given that many insurance processes rely heavily on documents.
Energy
The energy industry is undergoing a transformative shift driven by the need for decarbonization, regulatory pressures, and evolving technological advancements. Key challenges include managing vast amounts of unstructured data, ensuring regulatory compliance, and enhancing operational efficiency. Effective unstructured content management and automation are critical for addressing these challenges, enabling energy companies to streamline operations, reduce costs, and make informed decisions.
Manufacturing
Operational excellence is vital in the manufacturing industry. Effective document management and automation is crucial and allows manufacturers to leverage their information to innovate and grow effectively.
The manufacturing industry needs also to ensure regulatory compliance and reduce risks. A massive amount of controlled documentation is necessary, where a mistake at any level can affect the production and the organization’s reputation.
Construction & Engineering
Every aspect of the architectural, engineering and construction project involves an increasing number of documents that must be captured, processed, stored / archived and managed. SEAL enables contractors in the Architectural, Engineering and Construction industry to manage critical corporate content and business processes associated with the Projects (Build) and Operations documentation, thereby attaining compliance with industry regulations, cost reduction and a corresponding increase in operational efficiency.
Transportation & Logistics
The transportation and logistics industry generates and manages a vast array of documents daily, from invoices and bills of lading to shipping declarations and cargo manifests. Efficient handling of these unstructured documents is critical to operations. Tasks like adding files to document folders, sharing with external parties, issuing delivery proofs, or ensuring confirmation signatures often involve repetitive, manual processes prone to error.
By automating document workflows, companies can minimize errors, reduce reliance on paper-based processes, and streamline digital operations.
