Large amounts of contracts, applications, reports and other documents are prepared on a daily basis at various companies and public institutions. In many cases, the originals are still stored in paper documents, which is one factor that inhibits the sharing and utilization of information. Additionally, many business processes require exchanging paper documents, which creates an obstacle when attempting to introduce new work styles such as remote working.
FUJIFILM RIPCORD G.K. was established in September 2020 through a joint venture between FUJIFILM Business Innovation (formerly Fuji Xerox) and US-based Ripcord, Inc. with the aim of solving such challenges. By combining the know-how of FUJIFILM Business Innovation cultivated in business process outsourcing services for converting various paper documents*1 into electronic format and streamlining work processes with the technology of Ripcord for quickly converting paper documents using robotics technology and AI, we will contribute to reforming business processes involving paper documents.
The service is performed according to the following flow: (1) a dedicated robot scanning paper documents at high speed and high image quality and converting them into digital data, (2) AI automatically tagging and classifying attribute data such as the title using optical character recognition (OCR) technology to facilitate storages, searches and utilization, and (3) managing the data in the cloud. Processing the information without human involvement reduces the risk of information leaks as well, securely and quickly digitalizing valuable information and integrating it to the customer’s workflow.
The scanning process can handle several hundred million pages, far exceeding conventional services that were available. Another distinctive characteristic is that not only is the information digitalized but it is also automatically categorized and classified for easier utilization later. For example, digitalizing handwritten application forms used to open accounts at banks and increasing their searchability will help streamline operations at branches and speed up providing services to customers. At insurance companies, digitalizing insurance claims sent from insureds will allow a business in which assessment work can be performed anywhere.
The company has already begun providing services to several financial institutions in Japan and will gradually roll these services out in Asia, Oceania and other areas overseas.
Voice from FUJIFILM RIPCORD
Companies and public institutions in Japan have the same amount of paper documents as their counterparts in the United States, which has a much larger population than Japan. It is said that Japan is 10 years behind in converting these documents into digital data. There is a very good possibility that we can make a contribution in this field. Furthermore, with the urgency of work-style reform, including the introduction of remote working, brought on by the COVID-19 pandemic, our role has become even more important. Going forward, in addition to expanding the geological regions in which we do business, we will enhance our proposals for a wide range of fields faced with the challenge of digitalization.