What does Automating Knowledge Work Mean?
According to McKinsey, the Automation of Knowledge Work is defined as “the use of computers to perform tasks that rely on complex analyses.” In the context of document processing, business process automation solutions exemplify the type of sophisticated software that will automate the knowledge worker in every industry. For example, an automated invoice processing solution minimizes the need for manual labor in the accounts payable department, allowing users to apply more time and resources to other, higher value-added tasks.
Knowledge worker automation technology, in the McKinsey view, is on pace to be the second most disruptive technology over the next 10 years. According to the report (“Disruptive technologies: Advances that will transform life, business, and the global economy,” 2013 McKinsey), this will disrupt the economy to the tune of $5-$7 trillion during that period! How can organizations capture some of this value in the short-term?
Mission to Automate the Knowledge Worker through Business Process Automation
SoftWorks AI’s Trapeze solutions enable organizations to automate document processing, including document types such as invoices, tax forms, mortgage documents, and more. With highly accurate data extraction, an auto-validation tool, and superb document classification and assembly rates, our clients are realizing new efficiencies in their document-based workflows. For example, a client utilizing Trapeze for Mortgage Processing reduced processing time of each mortgage loan packet (average 300 pages each) from over 2 hours to under 5 minutes each. Our Trapeze solutions are fueling SoftWorks AI’s rise as a leading provider of knowledge worker automation technology in the document processing space.