Artificial intelligence (AI) and machine learning (ML) bring significant efficiency gains to organizations and should play critical roles in any digital transformation efforts. One major use case for these technologies is AI document processing, also known as intelligent document processing (IDP). Organizations amass a large number of business documents—from invoices in billing departments to medical coding documents at hospitals.
Why do experiences matter? In turbulent economic times, organizations that can't offer high-quality digital products and services with excellent experiences cannot attract and retain customers and employees. Customers today are seeking more than just products or services. They are looking for memorable experiences that create a lasting impact and emotional connection with the organizations they interact with. And they are more than willing to pay more to have those experiences.
The software landscape at a modern financial services company is like a jigsaw puzzle, with many pieces that must fit together. For example: Software development can be more difficult in an environment that requires complex enterprise integrations. How do you create flexible, modern, and scalable applications that require technology integrations and data from dozens of sources?
Process automation is a worthy goal for any organization. Automation unleashes human innovation, increases process effectiveness, and empowers your operations to adjust to change. But taking a pell-mell approach to automation will put these benefits at risk—you might actually create new inefficiencies you’ll have to rectify later. So before you get started with process automation, keep these five key things in mind.
With skyrocketing inflation and growing severity of weather-related losses, 2022 was a tough year for insurers. We were spot-on with our 2022 predictions—such as the need to improve the customer experience, increased adoption of connected underwriting, and the growing importance of ESG. While many of last year’s trends will continue into 2023, we have identified several emerging trends for this year.
To be good stewards of taxpayer dollars, state and local governments conduct market research and perform due diligence before purchasing a software solution. Commercial off-the-shelf (COTS) products are often positioned as offering the best price tag and the fastest deployment. However, the promise of a speedy installation often goes unmet.
Budget cuts. This dreaded term has become all too familiar in the modern economic climate. Whether cutting software spend, head count, and professional services, or optimizing supply chain, productivity, and organizational overhead, companies across the globe are trying to reduce inefficiency and waste. The savvy leader will agree that objective, data-driven decisions are the most likely to achieve desired business impact.
The term “Zero Trust” has become one of the most important concepts in the information security industry. An all-encompassing phrase for many modern security best practices, Zero Trust is a conceptual design philosophy focused on continuous authentication and authorization for each action a user takes within a session rather than verification that only occurs at the start of a session.
