Use Cases For Doxci
Applicable Sectors:
- Insurance
- Banking
- Healthcare
- Compliance
- Onboarding/Enrollment
- Real Estate
- Educational Institutions
- Tech
- Government/DoD
- …and more!
Applicable Document Types:
- ACORD Forms
- Commercial Underwriting Docs
- Claims
- Medical Records
- Loss Runs
- Invoices
- Bank Statements
- Compliance Docs
- Contracts and Other Legal
- Driver’s Licenses & Passports
- Applications
- Onboarding Docs
- …and more!
Unlock Your Unstructured Data
Data is the new oil, and 80-90% of enterprise data is still unstructured (metaphorically speaking, it is still in the ground). The only way to gain value from it is to structure it; thus, it is currently unusable. This means that most enterprises are sitting on 8-9x of one of their most valuable assets. This represents massive frozen capital for any organization striving to make data-driven decisions. Whether it’s specific numbers from an accounting doc or nuance words from a lengthy legal contract, Doxci gives companies the ability to analyze all of their data and convert it into real value for the organization.
Increase Throughput
Paperwork and administrative tasks constitute a major bottleneck for most scaling enterprises. Whenever a team member is reading or writing a document as part of a Standard Operating Procedure (SOP), generally speaking, they aren’t generating revenue for the company. The more business you do, the more significant this bottleneck becomes. Not only can Doxci handle this job, but it can also process multiple documents and document types concurrently. This means that instead of having 10-50 employees doing paperwork, you can consolidate the work to 1 employee (Doxci), while seeing the throughput rate increase to that of 100,000 employees!
Digitize Physical Documents
Many enterprises have been thriving for decades, even before computers. Paperwork is a story as old as time, and many companies have their throughput exactly where they want it, but not their data! The future is digital, and there has never been an easier time to transition physical documents to a cloud-based data management system. Not only can Doxci read digital document types such as .pdf, .doc, .xml, etc., but we also process physical handwriting! As long as the legacy documents contain handwriting that would be legible to a human being, Doxci will have no problem turning these decaying records into durable, future-proof digital records.
Lower the Cost of Operations
Latency is the ultimate killer of productivity. Paperwork is typically a means to an end, not the end itself, which means that it happens as a byproduct of doing real business. As such, whenever manual paperwork tasks are a part of the Standard Operating Procedures (SOPs) for human employees, latency is literally embedded into your company’s workflow. The research is clear: humans aren’t good at multi-tasking. By streamlining paperwork and administrative tasks with software, we let humans stay focused on one thing: generating revenue. Eliminating latency is so powerful that one of our clients, Solis Re in Miami, FL has seen their operational expenses decrease by 30% since they started using Doxci.
Reduce Employee Churn
People don’t like feeling like cogs in a machine, so consequently, most of us hate paperwork. Perhaps the greatest indicator in recent times has been The Great Resignation. COVID-19 changed everyone’s perspective about what it means to work and be around other people. This, plus the increasingly-hyper connectivity enabled by the internet, has led to a world where people have more options than ever before in terms of where they work and what they do. People want to feel valued for their work, and the best way to prevent them from leaving your company is to get rid of the monotonous, soul-crushing paperwork typically associated with large enterprises.
Reduce Employee Dependency
Hiring employees consumes resources in more ways than one. Not only do people have to scout the labor pool and vet applicants, there is also the opportunity cost of existing team members having to onboard and train the new hires. Equally challenging hurdles can arise with existing employees who have lives of their own: pregnancies/maternity leave, family emergencies, major health issues, etc. Doxci can work around the clock without getting tired, doesn’t need a lunch break, and never asks for a sick day or a vacation. This leads to more consistent and reliable operations that in turn lead to increased organizational durability and resilience.
Avoid Platforms
Platform-based solutions push rhetoric around ‘giving you control’ when in reality all they’re doing is offloading the work on to you! They make you annotate your documents and do other configurations to get the results you want. We’re here to take work OFF your plate. Doxci comes prepackaged just the way you like it: tell us what you want to get done, or set it up yourself in minutes, and the processing runs in the background. Your Doxci workspace is there when you want to watch jobs land, not another piece of software your team has to learn. Want to modify your process? Change it yourself in seconds, or just shoot us an email. Using Doxci means gaining access to a team of experts dedicated to making your experience as seamless as possible.
Maximize the Value of your Existing Systems
Believe it or not, your CRM, analytics team and more can all produce more value than they are currently. By increasing the amount of data that each department has access to (via the transition from unstructured data to structured) you simultaneously give them more ammo to work with. This is a net positive for everyone involved, as more information leads to better decision-making. Additionally, Doxci allows you to free underwriters, accountants, lawyers, adjusters, and other highly-paid employees for higher-value work. On top of these things, you can also use Doxci to catch data errors before they get entered into production, making the outputs of your existing infrastructure more valuable.
