How to Modernize Your Enterprise Content Management & Capture Posture with Jim Picardi 

How to Modernize Your Enterprise Content Management & Capture Posture with Jim Picardi 

Published By : Cydney McCollum August 15, 2022

 

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How to Modernize Your Enterprise Content Management & Capture Posture with Jim Picardi

This episode of Bots & Thoughts focuses exclusively on Enterprise Content Management and Intelligent Capture solutions. Our host, Jimmy Hewitt, is joined by a new guest, Jim Picardi, Executive Vice President of Sales and Marketing at enChoice, an award-winning Content and Capture services provider. When it comes to the successful adoption of Content and Capture, look no further than Jim and his team at enChoice. The two discuss the ins and outs of successful Content and Capture adoption and provide their expertise throughout the discussion. Content and Capture are essential elements of the hyperautomation journey, so you don’t want to miss this episode!

Watch Episode 10 interview now!

Follow along with the episode now!

Guest Background: Jim Pacardi, Executive Vice President of Sales and Marketing at enChoice

Enchoice

  • Help companies design, implement, and support their digital transformation initiatives

  • Leverage experience and technologies like Capture, Enterprise Content Management (ECM), & Business Process Management (BPM)

  • Company has 30 years of experience.

    • Most employees have an average tenure of over 15 years in the industry
  • 100+ employees

  • 100% focused on the core business of Capture, Content, and process management

  • Began as a FileNet company in 1990s.

    • Customers were looking for a business partner to help them implement a total solution for new technology

    • Digitization of documents and implementation of electronic workflow processes

  • Experience and level of quality of the employees at enChoice separates them from others in the industry

Jim Pacardi

  • Been in Content management business for 30 years
  • Started with FileNet as one of the first salespeople in the Boston area
  • Then held roles in FileNet and IBM sales leadership
  • Worked for Kofax as a regional vice president for several years
  • Came to enChoice 9 years ago
  • Made a career out of the content management business
Hyperautomation at enChoice:
  • Capture of information:

    • The ability to ingest content and metadata is tough to do and is/was a largely manual effort that is now being smoothed by hyperautomation
    • Hyperautomation allows companies to streamline the front end of a process by ingesting information automatically with artificial intelligence, machine learning, and other capabilities that are very important because it takes a lot of the manual effort out of the process
  • Growth area:

    • the technologies work very well today and there are a lot of standard platforms that do very well, but most customers are not taking advantage of that yet, so it is a significant growth area for the industry

  • Most clients are in one of two current states:

    • 1. Company has implemented a solution and are trying to take it to the next level
    • 2. Company has never implemented any kind of solution
  • enChoice’s goal:

    • take companies from wherever they are today to the next level
    • Example: If it’s a first-generation system that they’re looking at, then they identify what their processes are today and envision of what could happen with digital transformation
  • Common Challenge:

    • A lot of companies are not getting the most out of the capabilities that are possible…
    • 2 Examples:
    • 1. Companies are using a document capture solution, but they are not using any artificial intelligence or machine learning
      • They have documents come into the company that still must be separated and indexed manually where they could be taking advantage of artificial intelligence, machine learning, and all the other technologies that are available to classify or recognize what kind of document it is and then extract information from it
      • Think about the manpower required to do this when you are receiving hundreds of thousands of documents a day that people must split and index
    • 2. Companies are using a content management system, but they haven’t implemented process management to capture content at the front of the process and streamline that process from beginning to end
  • Common Use Cases: there are hundreds of current and potential use cases, but some examples include…

    • Any industry: accounts payable/invoice processing
    • Insurance: claims processing
    • Banking: mortgage underwriting/mortgage servicing
    • Government: case management
  • Jim Pacardi’s favorite use case:

    • Company Info: Company  specialized in student loan servicing
    • Revenue: $16 Million
    • 300 employees
    • Challenge: Inundated with paper and process
    • Solution: Spent >$1 million on implementing a content management and process management system
    • Outcome:
      • Received a strong ROI
      • Transformed their business
      • Completely changed their processes to all electronic processes
      • Gave them all access immediately to files
      • Allowed them to grow their business without increasing the number of employees in the company
    • Lesson: irrespective of how big your company is or what your business is, if you have the right leadership at the company and you have the right focus on what the business problem is, then you can transform your business
      • If there is waste in your organization, there is gain
      • Technology is very approachable from price point, ease of use, and time to value perspectives for customers of all sizes
Hyperautomation Trends in Jim Pacardi’s Tenure:

 

Constants:

  • The intent of systems has always been the same…
    • “How do we increase productivity?”
    •  “How do I provide better customer service?”
    •  “How do I deal with all the regulations and governance inundation that I have to follow for my organization?”
    •  “How do I do everything I need to while driving down costs?”

Changes:

  •  The means to achieve the intent of the business has changed
  • The technology has improved
    • Example:
      • Moving to the cloud
      • Software as a service
      • Hosted solution
  • More alternatives available for the complexities of implementing and supporting solutions
    • There are a lot more options for customers in terms of outsourcing an entire operation
      • On-prem is no longer the only option
  • Artificial intelligence is making it much easier to ingest content
enChoice accelerators, plug-ins, software, and more:
  • The company’s tagline is rooted in acceleration and time to value
  • They developed accelerators on top of hyperautomation solutions that are allowing customers to experience faster time to value and make the software even easier to use
    • Acquired the company Magic Lamp Software, who spent years making accelerators for the entire intelligent capture space to allow companies to more easily ingest documents and content off those documents and manage that whole process
  • Cut the time it takes companies to get in tools into production and start taking advantage of the system
    • Time to Value: incredibly important component of any system
Future trends:
  • Market: Everyone is trying to drive down the cost of the systems
  • Legacy systems: With the aging workforce, a lot of companies have lost their support structure with legacy systems
    •  There is a move to offload support and administrative aspects of legacy systems
    • Companies want to drive down costs while also depending on third parties for support
      • A lot of companies move to cloud, software as a service, and/or hosted solutions
  • Competition: Companies are being forced to implement new technology (or seek help in supporting what they already have in place) through competitive factors
    • Example: Pandemic forced industries/companies to take huge leaps forward in a matter of months and if the companies/industries cannot adjust accordingly, then they will not survive
Takeaways
  • Hyperautomation takes a lot of the manual effort out of ingesting content and metadata
    • Artificial intelligence is making this process even easier
  • A lot of companies are not getting the most out of the capabilities that are possible: oftentimes…
    • Companies are using a document capture solution, but they are not using any artificial intelligence or machine learning OR
    • Companies are using a content management system, but they haven’t implemented process management to capture content at the front of the process and streamline that process from beginning to end
  • It does not matter the size of your company; anyone can benefit from hyperautomation
    • If there is waste in your organization, there is gain
    • If you have the right leadership at the company and you have the right focus on what the business problem is, then you can transform your business regardless of how large your company is
  • Using the great, new technologies is making the business journey a lot easier than it used to be, but the objectives are very similar to what they used to be
  • Jim Pacardi Final Advice:

  • To have a project, you need two things:
    • Executive sponsorship: if you look at the most successful projects, you have an executive team that is completely bought into transforming their business
    • Typically, this is a Line of Business Executive
    • Projects will go nowhere without the support of an executive sponsorship
    • Ask yourself: “Do I have an executive who is driving this initiative?”
  • Return on Investment: you have to be able to justify the business with an ROI (unless the project is surrounding a non-ROI strategic initiative)
    • You need a well-ironed-out, logical business case for your new project to stand on first
    • It is typical that you are competing against other projects for who has the best ROI
    • Ask yourself: “Do I have a good business case for this initiative?”
  • Note: highlight best practices and set the right expectations when transforming your business
    • Decision-making and implementing hyperautomation can be complex within a company…
    • Decisions are made with committees, or a bunch of different constituents, who all have a job to do and are all looking at it from a different perspective
    • You’re changing the way an organization has been doing business
    • It is all about cultural change, which is very understated and something that organizations are now forced to think about
    • You are sometimes completely changing people’s roles and how they process work or completely changing the complexion of the company and how it works
  • Transforming your business is not always easy, it is complex, but it is doable
  • Have the right people in place on both sides of the transformation
  • Common barriers for ECM solution adoption:

    • Executive sponsorship
    • Resources: time, money, etc.
      • Time: Many people often want to weigh in
      • Money: Determining the right place to start amidst competing problems
      • There can often me limited resources
    • Salient’s tool, Automation Compass, can look at the return on investment for a variety of different projects and identify the winners
  • Success of a business:

    • “Stick to your knitting” as a company
      • enChoice has never “gone off course”
      • The company is 100% focused on the digital transformation and implementing transformative solutions for their customers
    • Build out your portfolio, while still remaining focused on your goal and not deviating from your path
      • enChoice has made 6 acquisitions
    • Focus on your Net Promoter Score
      • enChoice does 80% of their business with existing customers
      • enChoice NPS: 9.4/10
      • been tracking NPS since 2003

 

Watch Episode 10 Interview with Jim Picardi Now

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