Keeping Kentucky Competitive with Business Process Improvement and ECM - VeBridge

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Keeping Kentucky Competitive with Business Process Improvement and ECM

Kentucky Business ProcessAlthough VeBridge serves clients around the country and in neighboring states such as Indiana, Tennessee and West Virginia, like most teams we’re proud of our home city of Lexington and our home state of Kentucky.

As proud Kentuckians, we want our local businesses to compete and thrive in the global marketplace. That’s one reason we’re so passionate about the value that we deliver, which is to relentlessly simplify business process to drive up profit and productivity. We do this by focusing and enhancing the daily connections between people, process and technology.

Our team takes great pride in helping local companies in Lexington, KY, and beyond, become more productive and profitable by 1) eliminating paper (via document imaging), 2) making business processes simpler and smarter (via business process management, eforms, workflow improvements), and 3) making information more accessible and usable (via enterprise content management, or ECM, software and services).

What is “Business Process”?

VeBridge Business ProcessNot every business executive or IT leader speakers in terms of “business process,” so it’s important to define what we mean by it.

Business process is usually defined as “an activity or set of activities that will accomplish a specific organizational goal.” It’s quite simply what your organization does each day to succeed. Creating new products and services, hiring great people, taking orders, delighting customers, getting paid, and paying others all require smooth and efficient transferring of information across bridges between people, process and technology.

In the most basic terms, VeBridge is committed to providing a bridge from inefficient paper and email chaos to a smarter, digital-enabled way of getting things done. Here’s how we do it:

Eliminating Paper

Paper is the great enemy of efficient business process. Some of the major downsides to running your business on paper:

  • Paper gets lost
  • It’s enormously expensive to purchase, use and warehouse
  • It’s difficult and expensive to retrieve and use ad hoc when needed in the future
  • It adds risk to your business in areas of business continuity, crisis management and disaster

VeBridge Document Imaging AssessmentThe average office worker continues to use a staggering 10,000 sheets of copy paper every year, according to statistics from the U.S. Environmental Protection Agency. Filing costs average $20 per document.

According to a Paystream Advisors study, 84 percent of invoices enter processing in formats that include paper, fax and email attachments, which require manual conversion into ERP-formatted data. This can drive the cost of processing up to $20 per invoice vs. $4 in a fully automated environment!

VeBridge has been a leading document imaging and digital service bureau for over 15 years and dozens of clients across many industries.

Simpler, Smarter Business Processes  

What did the BP Trends State of the BPM Market survey of business executives reveal about Business Process Management?

  • 52% stated their organization had never or occasionally developed performance measurements to evaluate the success or failure of business processes.
  • 49% stated their organization had never or occasionally defined and documented the skills needed to perform the tasks in the major processes.
  • 59% stated their organization had never or occasionally trained managers to analyze, design and manage business processes.
  • 53% said their managers never or only occasionally use performance data to manage their processes.

At VeBridge, we take a deep discovery process approach to identifying how and why business tasks are taking longer and costing more than they should, and our business process consulting team maps out specifically how they can be made smarter and simpler.

This approach can lead to eye-opening improvements in how your organization runs:

  • Reduced order to cash cycles
  • Reduced process costs: 10-15%
  • Increased quality / reduced number of errors: 20-30%
  • Reduced process throughput times: 10-30%
  • Reduced training time / expenses: 10-30%
  • Reduced number of (internal) support requests: 15-30%
  • Reduced number of customer complaints: 20-30%
  • Increased forecast accuracy: 15-30%

Accessible, Usable Information  

VeBridge Enterprise Content Management SolutionsThis is where the power of ECM technology comes into play. It’s not enough to simply digitize documents; you must develop a comprehensive content management strategy and enable it with flexible, enterprise-scalable technology. How many times have you known a piece of information exists somewhere “out there” on a server, but couldn’t find it? Consider:

  • A typical employee spends 30% – 40% of his time looking for information locked in e-mail, documents, shared hard disks and filing cabinets.
  • 18 minutes is the average search time for a document
  • U.S. managers spend an average of 4 weeks a year searching for or waiting on misfiled, mislabeled, untracked, or ‘lost’ papers”

An effective ECM solution provides:

  • Efficient, direct access to content
  • Data storage and backup
  • Automation of tasks and processes
  • Improved compliance

Each industry has its unique business process challenges. Our experience in industries such as manufacturing, healthcare, insurance and higher education, among others, helps us apply these ECM benefits to your business processes in a more efficient manner.

At the end of the day, it’s about your organization and your people thriving! Frankly, it’s more fun to run an efficient, productive, profitable business. That’s our goal for all of our Kentucky peer companies and for all those we serve around the country.

Let us know when we can schedule an information conversation with you and your team about becoming more competitive and profitable!

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