If you’re in charge of a manufacturing company, on bad days, it might feel like building a house of cards on sand would be easier than getting everything on the production floor to run smoothly. But on the good days, you realize that the more processes you automate, the more order you bring to both your production line and your dealings with partners. Given the massive amount of documentation your company handles daily, you need a document automation solution to turn chaos into order.
Today, we’ll explore the latest Intelligent Document Processing (IDP) solutions on the market, how they work, how easily they can integrate with your existing systems, and the tangible benefits they can bring to your manufacturing operations.
Traditional Document Processing in Manufacturing
There are many operations within a company that slow down if done manually. Let’s face them head-on and gain a deeper understanding of the challenges that automation can help us overcome.
Manual Data Entry in Purchase Orders and Invoices: Manual data entry is a time-consuming and error-prone task that burdens manufacturing operations. Employees must manually input data from purchase orders and invoices into various systems, which can lead to mistakes and delays.
Inefficient Document Workflow: Traditional document workflows often involve multiple steps and approvals, causing bottlenecks and slowing down the overall process. Documents can get lost or delayed, leading to inefficiencies and increased operational costs.
Compliance with Manufacturing Regulations and Standards: Manufacturing companies must comply with numerous regulations and standards. Ensuring that all documents meet these requirements can be challenging and time-consuming when handled manually.
Protecting Sensitive Data: Manufacturing companies handle sensitive information, such as proprietary production plans and intellectual property. Protecting this data is crucial, and manual processes increase the risk of data breaches.
Real-Time Visibility of Processes: Without automated systems, it is difficult to gain real-time visibility into the status of various documents and processes. This lack of transparency can hinder decision-making and slow down operations.
High Operational Costs: Manual document processing is expensive. The costs associated with labor, errors, and inefficiencies can add up, significantly impacting the company’s bottom line.
Language Barriers in Global Operations: Global manufacturing operations often involve multiple languages. Handling documents in various languages manually can lead to miscommunication and errors.
Managing Unstructured Data: Manufacturing companies deal with a large volume of unstructured data, such as emails, PDFs, and handwritten notes. Processing this data manually is challenging and time-consuming.
Handling Diverse Document Formats: Manufacturing operations involve various document formats, including invoices, purchase orders, bills of materials, and more. Manually processing these diverse formats can be inefficient and prone to errors.
Integration with ERP Systems and Other Industry-Specific Systems: Integrating manually processed documents with ERP and other industry-specific systems can lead to significant issues such as data discrepancies, delays in information processing, higher risks of errors due to human intervention, and disruptions to current operations.
Examples of Using IDP for Manufacturing
Implementing Intelligent Document Processing in a manufacturing company can drastically improve various aspects of the operation. For instance, a company using IDP for processing purchase orders can reduce the time spent on data entry by automating the extraction and validation of order details. This leads to faster order fulfillment and fewer errors.
Similarly, IDP in manufacturing can streamline invoice processing by automatically extracting invoice data and matching it with purchase orders. This reduces the workload on the accounts payable department and ensures that invoices are processed quickly and accurately.
Intelligent Document Processing can also enhance compliance by ensuring that all documents meet regulatory standards. By automating the review and approval process, IDP solution can help companies avoid costly compliance issues and maintain high standards of quality and safety.
Automating Key Production Documents with IDP
Automating key production documents with Intelligent Document Processing can lead to significant improvements in efficiency and accuracy. For example, IDP can automate the extraction of data from bills of materials (BOM), ensuring that all components are accounted for and reducing the risk of production delays.
Similarly, IDP in manufacturing can automate the processing of standard operating procedures (SOPs), ensuring that all employees have access to the latest procedures and reducing the risk of errors. By automating the distribution and tracking of SOPs, IDP can help companies maintain high standards of quality and safety.
The IDP solution can also automate the processing of production reports, ensuring that all data is accurate and up-to-date. This can help companies gain real-time visibility into their operations and make informed decisions based on accurate data.
Best KPI Performance with Intelligent Document Processing
Implementing IDP in a manufacturing company can lead to significant improvements in key performance indicators across various operations. For example, companies can reduce the cost of goods sold (COGS) by automating data extraction and processing, leading to lower operational costs and improved profit margins.
Intelligent Document Processing can also help companies increase their return on investment (ROI) in IT spending by streamlining workflows and reducing the need for manual labor. By automating data extraction and processing, companies can achieve higher ROI and improve overall efficiency.
Similarly, IDP in manufacturing can help companies increase sales revenue by automating the processing of sales orders and proposals. This leads to faster response times and improved customer satisfaction, ultimately driving higher sales.
IDP can also help companies reduce raw materials cost (RMC) by automating the extraction and processing of data from inventory and production reports. This ensures that companies have accurate and up-to-date information on their inventory levels, reducing the risk of overstocking or stockouts and leading to lower raw materials costs.
Graip.AI: The Ultimate IDP Platform for Manufacturing
Graip.AI is an Intelligent Document Processing Platform designed to automate and streamline operations for enterprises. With no templates required, this software eliminates human error and tedious paperwork, swiftly handling 141 document file types and processing each page in just 0.8 seconds.
This advanced AI-driven IDP platform transforms how businesses handle repetitive tasks, offering a versatile solution that suits manufacturing companies of any size by automating workflows that traditionally require manual effort, making operations faster and more accurate.
Graip.AI is particularly crucial for manufacturing because it excels in handling industry-specific documents such as Bills of Materials (BOM), Standard Operating Procedures (SOP), Product Requirements Documents (PRD), and Manufacturing Bill of Processes (MBP). With its AI’s proven 100% recognition rate, Graip.AI elevates the processing of these critical documents. Template-free and human error-free, Graip.AI eliminates boring paperwork and ensures that all data is accurate and efficiently processed.
Why to choose Graip.AI?
- Document Handling: Graip.AI maps data with your CRM and other backend systems according to your business requirements, linking extracted data with external data sources to provide real-time insights.
- Highest Recognition Rate: Graip.AI boasts the highest recognition rate on the market, ensuring 100% data compliance with service levels over 99.5%.
- Machine Learning: Graip.AI utilizes the power of machine learning for superior accuracy and efficiency. Machine learning algorithms continuously learn and adapt, enabling the solution to evolve alongside your company’s growth and changes.
- Quick Integration: Graip.AI integrates within a week with its low-code solution, delivering over 300% ROI.
- Error-Free Swift Processing: Graip.AI achieves 0% human error, processing each page in just 0.8 seconds.
Advantages of Intelligent Document Processing for Manufacturing
Now that we’ve seen what IDP platforms can achieve for manufacturing businesses, let’s examine the specific advantages offered by Graip.AI. This platform transforms document processing in manufacturing with its cutting-edge features. Here’s how it boosts operations across various departments:
Manual Labor Automation: Graip.AI automates data extraction from critical manufacturing documents like purchase orders, invoices, bills of materials, and others, significantly reducing the time, resources, and error risks associated with manual data entry. Graip.AI’s advanced AI algorithms ensure accurate data extraction, streamlining the procurement process and reducing the risk of delays due to data errors.
Costs Reduction: Graip.AI platform significantly reduces document processing costs for the manufacturing industry by automating data extraction from manufacturing documents and streamlining workflows, resulting in cost savings and improved profit margins. The solution’s AI-driven automation reduces manual labor costs and increases operational efficiency.
Streamlined Workflows: Graip.AI streamlines operational workflows by automating document routing, approvals, and collaboration processes. This accelerates operational tasks, improves communication and coordination between teams, and enhances overall workflow efficiency.
Protecting Sensitive Data: Graip.AI provides advanced security features, such as encryption and user access controls, ensuring that sensitive manufacturing data, such as production plans and intellectual property, is protected from unauthorized access. The platform adheres to strict industry standards for data security.
Integration with ERP Systems and Other Industry-Specific Systems: Graip.AI integrates seamlessly with leading ERP systems and other software systems used in the manufacturing industry via API, facilitating smooth data transfer between systems and a more streamlined workflow. Graip.AI’s easy integration with your existing infrastructure enables you to enhance your manufacturing processes without disrupting your current operations, driving efficiency and productivity throughout your entire production network.
Accelerated Deal Closure: Graip.AI accelerates the deal closure process by automating data extraction from sales orders and its validation, reducing the time required to process sales documents. This enables sales teams to respond quickly to customer requests, make faster decisions, and close deals more efficiently.
Proposal Customization: Graip.AI enables the customization of proposals by automatically populating templates with relevant customer and product information. This saves time, ensures consistency in branding, and allows for personalized and tailored proposals.
Vendor Onboarding Acceleration: Graip.AI automates the extraction and processing of vendor documents, such as contracts and certifications, simplifying the onboarding process. This reduces manual effort, ensures compliance, and accelerates the vendor qualification process.
Wrapping Up
Automating processes with IDP for manufacturing brings harmony to your production line and interactions with partners, transforming document-heavy tasks into smooth, efficient workflows. By slashing costs, reducing errors, and freeing up your team to innovate and grow, automation technologies ensure that manual and error-prone work becomes a thing of the past. Once you pave the way for digital transformation at your company and embrace the power of tools like Graip.AI, you are destined to see your manufacturing operations become a benchmark for efficiency and innovation in the industry.