Do you think it is possible for your organization to handle larger workloads without hiring additional people? When you take advantage of software technologies to make existing staff more productive it certainly is! Introducing Robotic Process Automation (RPA) to your organization allows you to leverage “software robots” to reduce tasks manually performed by humans. And these “robots” can save you some serious cash. According to Grandview Research, RPA tools are 65% less expensive than full-time employees! Take this example from Western Guaranty Fund Services (WGFS).
Traditionally, insurance companies process claims manually on paper, and WGFS helps policyholders with insolvent insurance companies by paying claims owed to them. Chad Anderson, Manager of IT and Administration said, “The volume of information we process varies depending on the time of year. When we would have large spikes in our activity, we would just hire additional staff. However, during a slow time, we decided it was time to find a permanent solution that didn’t require us to add more people.”
WGFS decided to work with RMMI, a Digitech Systems reseller to intelligently automate their claims processing. They chose to implement PaperVision® Capture to scan paper claims, PaperVision® Enterprise, an on-premise Enterprise Content Management (ECM) system to securely store the claims, and PaperVision® Enterprise WorkFlow to automatically route and send them. “Now when we have spikes in our activity, we haven’t had to increase our administrative staff and our claims handling has gotten much faster,” said Anderson.
Does that sound too good to be true? Read to see what other benefits they were able to achieve.