Artificial Intelligence (AI) has proliferated in the transportation industry – even in the back office. AI-supported automation can be the catalyst for a multitude of benefits to your transportation enterprise. Today, advancements in technology, reduction in hardware costs, and more dynamic enterprise workflow applications have all contributed to more cost-effective and value-added solutions for even small transportation companies. Below are four ways in which your organization will see significant ROI when implementing an integrated content management system supported by AI technology.
- Improved Productivity
In the transportation industry, time is money. Streamlining operational efficiencies to improve productivity very often translates into dollars saved, and nowhere is that more true than in your organization’s back office. Using an automated system with integration to other operational systems within your organization to manage documents will get necessary information to your staff much more quickly than a manual, paper-based process. In some cases, transportation companies who utilized an AI-supported content management system in their back office improved their billing cycle by a full day or more. Success Story – Solar Transport
Automating your back office not only reduces the time your staff spends reviewing paperwork. Time is also saved by reducing the amount of manual data entry, thanks to a more powerful document imaging process along with integration to other systems. Human error is inevitable when a manual process is involved, and in the transportation industry, these mistakes can have a significant impact on your back-office efficiency. With an AI-supported content management system, companies can experience a 94% accuracy rate [link to Halvor Lines case study], which in turn reduces the amount of time spent correcting errors associated with manual data entry. Automation with integration is the key element to a truly successful back office process.
- Reduction in Billing Cycle Time and Labor Costs
Depending on the size of your organization, you might need several billers – especially if you don’t already have an automated solution. But what if you could process the same amount of transactions with fewer people – or, process more transactions without the additional overhead costs of more staff? A content management system with automated workflows ensures that your staff only touch the transactions that are out of standard, which frees up staff time for other projects. In addition to reducing staff costs, automation reduces other overhead costs, such as printing and postage.
Utilizing AI-supported technology in your back office not only reduces money spent on overhead costs. Transportation organizations that employ an integrated, automated content management system also experience increased revenue opportunities that were not possible without automation. In many cases, billing cycle time is reduced [link to Riverside Transport case study] by receiving documents more quickly and accurately, then processing and sending the invoices to customers sooner. Additionally, this can lead to a reduction in days sales outstanding (DSO) by receiving payments more quickly as well.
- Increased Visibility
An added bonus of converting to a truly automated, AI-based content management system is the minimization or elimination of filing cabinets, freeing up space for growth. Since documents are stored in a centralized, secure location, personnel have immediate visibility to the right documents at any time. Having direct access to these documents frees up time requesting documents from other staff members and improves customer relationships by providing more immediate customer service when documents are needed or requested when invoicing questions occur.
- Improved Security
Because your documents are stored electronically in a central location, the security of these documents is more easily preserved. It is important to set up your content management system to provide access rights down to the data level. Only the personnel with authorization to view specific documents will be able to access those documents. There is minimal risk of the wrong people getting visibility to documents that may be sitting in a folder on someone’s desk or left in a place where it should not be located. With AI-supported workflow technology in your back office, you can achieve significant ROI. To learn more about EBE’s automated workflow solutions that utilize AI, visit ebeships.com or call 800.447.0612.