Cyclos Systems

Behind the Scenes 🎥: Developing a Cutting-Edge OCR System (for Banks) More than a year ago, we embarked on developing an OCR system aimed at processing payment orders in bank branches across Bosnia and Herzegovina. Given our deep understanding of banking processes, we identified several pain points: processing times between 45 and 70 seconds, long waiting lines that lower customer satisfaction and hinder cross-selling opportunities, bank tellers working under pressure leading to significant input errors and wasted time on corrections, etc. Our targeted solution's characteristics 💡 were clear: 1. Live-feed: Real-time document processing 2. Speed: Processing time under 1.5 seconds 3. Accuracy: Over 95% 4. Cost Efficiency: Comparing favorably to full-time employee costs 5. Security: No cloud technology involved 6. Scalability: ID handling (and other sorts of documents and inputs) However, creating the OCR software alone wasn't enough to achieve our targets 🎯, except for characteristics 5 and 6. To meet the first four objectives, we needed to develop specialized hardware/MF scanner. Testing and fine-tuning the hardware parameters proved to be a challenging yet fascinating journey 🎉, ultimately enabling us to achieve our goals. This approach to product (nominally software) development took us into uncharted territory, providing us with invaluable insights from multiple perspectives. In my next post, I will discuss why we continue to use template matching rather than Intelligent Document Processing (IDP), at least for now. PS: The photo features our WizoDoc hardware, ready for delivery today. WizoDoc - Data Perfection in the Blink of an Eye Graip.AI Nanonets ABBYY Rossum Klippa Agencija za bankarstvo Republike Srpske Agencija za bankarstvo Federacije BiH #banking #automation #OCR #data #processimprovement #processoptimization

Unveiling the Data-Process Link: What Lies Beneath? Excited to share that I've been invited to speak at the Future Data Driven Summit 2024!🎉 The topic of my session "Leveraging Data Analytics for Process Improvement & Optimization" will explore how organizations can harness the power of data to streamline operations, drive continuous improvement, (digital) transformation, and achieve operational excellence. Stay tuned for insights on overcoming challenges and maximizing the benefits of data analytics in business process management. https://lnkd.in/d_rqzXjb #FutureDataDriven #DataAnalytics #BPM #ProcessImprovement #ProcessOptimization #Digitalization #DigitalTransformation #ProcessMining

Volume 2 of Navigating the Bank Digitalization Journey is out: Negative practices In Volume 1, the focus was on the key challenges in the digitalization of banks, based on my experience. Volume 2 covers the real-life practices in banks related to those challenges. In case you did not swipe through Volume 1, I suggest you do that before or after checking Volume 2: https://lnkd.in/dHHVaDPS #DigitalTransformation #Digitalization #Banking #SystemsThinking #CustomerExperience #DataUtilization #DataGovernance #ChangeManagement #BusinessProcessManagement #BusinessProcessOptimization #RegulatoryCompliance #SkillsDevelopment #RiskManagement #Cybersecurity

🌟 Navigating the Bank Digitalization Journey - Volume 1: Key Challenges for Banks 🌟 What are the key challenges in the digitalization of banks? Based on my experience in banks, from operational positions in a branch, over internal audit positions to C-level strategic positions, as well as experience in the development of digital solutions and the implementation of process improvements and transformations (with or without technological solutions) across industries and sectors. Swipe through the carousel to discover the key challenges banks face in their digital transformation journey and how to overcome them. #DigitalTransformation #Digitalization #Banking #SystemsThinking #CustomerExperience #DataUtilization #DataGovernance #ChangeManagement #BusinessProcessManagement #BusinessProcessOptimization #RegulatoryCompliance #SkillsDevelopment #RiskManagement #Cybersecurity

SMEs Go Digital! Pridružite nam se konferenciji SMEs Go Digital: Digitalna transformacija malih i srednjih preduzeća koja će se održati 15. juna 2024. godine u Banjoj Luci. U uvodnom dijelu panela 2 govoriću o ključnim koracima koje mala i srednja preduzeća treba da preduzmu kako bi uspješno započela i sprovela proces digitalne transformacije. Više detalja i obrazac za prijavu možete pronaći na: https://lnkd.in/dii-dZ6B ---------------------------------------- Join us at the SMEs Go Digital: Digital Transformation of Small and Medium Enterprises conference, which will take place on June 15, 2024, in Banja Luka. As a keynote speaker of Panel 2, I will speak about the key steps that small and medium enterprises need to take to successfully initiate and implement the digital transformation process. For more details and the registration form, please visit: https://lnkd.in/dii-dZ6B Cyclos Systems Development agency of city of Prijedor "PREDA" Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH #digitaltransformation #digitalization #bpm #businessprocessmanagement #businessprocessoptimization #processmining

Digital transformation is a journey. Cyclos Systems has been working with IDEMO Digital Innovation Hub for some time to provide expert support in the process of SMEs' digital transformation. Today, I participated at the PANEL I - Digitalization of Business Processes: The Key to Competitiveness and Profitability of Small and Medium-Size Enterprises as part of the event "Digital Innovation Hub: Engine of Development and Regional Economic Connectivity.". My speech focused on the role and position of business process management in digital transformation, as well as the importance of stages prior to and following digital transformation, such as data utilization and process mining. Cyclos Systems DIH IDEMO Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH #digitaltransformation #bpm #processoptimization #processimprovement #processmining

Da li bankama u BiH treba podrška u optimizaciji, unapređenju, automatizaciji, digitalizaciji.... poslovnih procesa? - DAAAA Da li su svjesne toga? - &%$0))!"# Danas sam u banci XYZ bio očevidac reda na šalteru za fizička lica od ravno 22 osobe. Vrijeme čekanja je +1.5sat. Ljudima iz banaka je teško shvatiti ili prihvatiti da rast korištenja el servisa ide sporo i da broj aktivnih korisnika neće prebaciti 50% još najmanje 3 godine, a možda i 5. Naša firma je prije nekoliko mjeseci završila testiranje i počela sa implementacijom WizoDoc proizvoda koji automatizuje unos naloga i ID na šalteru skraćujući vrijeme na 1-1.5sec po dokumentu (sa sadašnjih 45-55sec otprilike, a za ID i više). Pored uštede, zadovoljstva klijenata, stvorenog vremena za prodaju drugih proizvoda sastavni dio proizvoda je i skener koji se može koristiti za svakodnevna skeniranja. Zaposleni na šalteru uglavnom koriste zajednički skener negdje iza šaltera tako da u ovom slučaju ne trebaju uopšte ustajati. Ovo je samo jedan od primjera ali vrlo važan i za banku i za klijente jer se radi o interakciji licem u lice u realnom vremenu u prostoru banke. Uskoro o implementaciji WizoDoc-a.

How important is it to adjust internal auditing to the usage of modern technologies? Which abilities and knowledge are necessary for these adjustments by internal auditors? What are the risks of internal auditing becoming less relevant in the digital age? The Internal Audit in the Digital Age 🚀 program equips internal auditors with the knowledge and resources they need to succeed in today's digitalized business environment. The program, which consists of two courses that examine the relationships between technologies and internal auditing from multiple perspectives, is about to begin. In the next few weeks, we will hold two seminars with internal audit professionals. Contact us or remain alert for more details! Cyclos Systems #internalauditing #ai #genai #processmining #rpa #dataanalytics #bpm