Organizations are Embracing Access to Reusable Data
Whether you call it a digital transformation of the digital economy, your organization should welcome a new approach into a new reality, gaining access to usable data which is becoming critical.
Unfortunately, far too many businesses lack seamlessness that allows the ability to leverage the data they are collecting. This is due to far too many processes that do not have the ability to a true digital connection.
It doesn’t matter if its operations are in a silo or through leveraging a manual paper trail. As more and more organizations are getting rid of silos and manual procedures, the benefits will be tremendous.
As an example, Coco-Cola Sales & Services are supporting fulfillment for the company’s customers by using Ripcord to digitize documents’ life cycle for 72 bottles across the US, Canada, and Mexico.
Ripcord works to automate document capture of key fulfillment and logistics using robotics and AI, which allows further robotic automation which has transformed the company.
As reported by the Hackett Group, procurement organizations can achieve great cost savings around 45% or more with digital transformation.
By digitizing burdensome manual paper fulfillment documents and account reconciliation procedures that involve paper invoices and proof of delivery documents, they can consolidate many vendors and save approximately $1 million annually.
Addressing The Problem
According to various reports, the fulfillment of goods must be offered through proof of delivery tickets that are shared by deliverers and receivers.
The burden of proof falls on Coco-Cola Sales & Services and if these documents cannot be produced, the customer will not be responsible for paying the bill.
Originally, the process for Coco-Cola Sales & Services involved a photocopy of the proof of delivery document at the bottling office and FedEx, the original to a supply chain management company.
The process was closing millions of documents each year, leading to an astonishing number and significant loss in revenue.
According to Wasim Kahn, Ripcord Chief Digital Offers, through digitization, Ripcord as estimated that Coco-Cola Sales & Services will save millions of dollars each year by consolidating vendors through document life cycle management.
Using our integrated solution of robotics, software, and AI will collect the data and turn it into manageable and easy to understand data for analog records.
The goal is to offer a solution for businesses to gain access to valuable data that would otherwise be captured on paper records.
About Digital Efficiency
Canopy 2.0 is a leading technology offered by Ripcord to help Coco-Cola Sales & Services quickly digitize its supply chain and maximize accuracy and efficiency.
It uses rapid digital imaging with automation to help digitize an entire bank box of documents all within 2 hours. It also utilizes optical character recognition to quickly access documents using specific keywords.
In many ways, Canopy 2.0 will have a huge impact on Coco-Cola Sales & Services once they start seeing the bigger picture by the digitization of content through the use of automated robotic systems that are positioned to make constant intelligent decisions throughout the supply chain.
In today’s competitive, fast-moving digital age, those who are not willing or unable to optimize their supply chain for data-driven business will inevitably lose out to their competitors.
Digitization, using robotic automation, will save any business time, energy, and resources when searching for documents and saving money.