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Top 3 use cases of RPA in the Financial Industry

Robotic Process Automation (RPA) is a rapidly emerging technology that is set to revolutionize the way businesses operate. RPA automates routine tasks, allowing human employees to focus on more cognitive and judgmental applications. In the financial industry, where accuracy, speed, and compliance are crucial, RPA can provide significant benefits. Innovatix Technology Partners understands the importance of staying ahead of the curve in today’s fast-paced business world and we want to share our insights with you. Here are three straightforward use cases in financial companies where you can start when exploring RPA. Accounts Receivable and Payable: Managing payments to and from vendors involves an immense amount of transactional processing. RPA can automate this process, with the option for human intervention for manual approval above a certain level or when certain thresholds are triggered, all while following tax guidelines. Financial Closings: Whether it’s month-end, quarter-end, or year-end closings, there’s a tremendous amount of expenses, receipts, and transactions that need to be properly recorded and entered into the ledgers. RPA can automate this reoccurring task, with the option for escalation for anything that is outside of the norm. Customer On-boarding: As your company grows, you’re constantly on-boarding new customers. With RPA, companies can use OCR (optical character recognition) to automatically scan and read handwritten information, convert it into digital bits and bytes, and enter that data across multiple systems throughout your organization. At Innovatix Technology Partners, a Macrosoft, Inc. company, we are dedicated to helping our customers stay ahead of the game by leveraging the power of RPA. Whether you’re in the financial industry or any other industry, we can work with you to determine the best course of action for your organization. Don’t wait any longer to start reaping the benefits of RPA – contact us today to talk to an RPA expert to custom-tailor your process automation venture.

John Kullmann February 24, 2023 No Comments

How Innovatix consistently delivers high-quality Quadient projects?

Innovatix Technology partner is a company that specializes in delivering high-quality Quadient Inspire services across multiple industries. The key to their success lies in their people. Innovatix has organized itself into six distinct lines of business to best serve its clients, and one of those lines of business is CCM, which stands for Customer Communication Management. Within the CCM practice, Innovatix works specifically with a tool called Quadient Inspire, which is the most powerful and highest-ranked platform in the CCM market today. Innovatix has over 145 fully certified Quadient developers working today, supporting multiple clients around the globe. Around 85 or more of these developers are based in India, with another 60 in the US, working directly on-site or remotely with client projects. But Innovatix’s commitment to its people doesn’t stop there. When a new candidate joins their Quadient practice, they go through a rigorous 17-week, full-time, dedicated training program using Quadient Learning Hub. The training program consists of several elements. Every day, candidates start the day meeting with an instructor who gives them daily classroom training on the particular topic. They are then assigned either homework or online video training that they need to do throughout the day in order to cover that particular topic. After about three weeks of this particular training, they’ll get a certification, which is an examination of an actual project that gets sent to Quadient for their scoring to be certified in the particular module of Quadient. But having book knowledge isn’t enough. Once candidates complete their certification, Innovatix sanitizes client projects and has new candidates go through and do a real-life project as it was experienced by the client. This provides them with practical knowledge and helps them learn and grow their skills in a real-world setting. Upon completion of training, candidates have great technical acumen, both in terms of book knowledge and practical experience. But Innovatix doesn’t just assign them onto a client project right away. Instead, they shadow them and move them across multiple projects, including Quadient Inspire migration so they get a wide variety of different experiences with their mentors, understanding how the projects work, possibly doing testing, supporting elements of the project to provide further enhancements to their clients. Innovatix’s training is the best in the industry, but it’s not just the training that makes them successful. They are extremely fortunate that 80% of the new candidates entering their Quadient practice are a direct employee referral from an existing employee. This demonstrates that Innovatix’s employees are happy with their jobs and are referring their friends and family members to join the company. The right candidate for Innovatix’s Quadient practice is someone who not only has the technical acumen and background but also has the right personality and fits into the culture of Innovatix. For instance, Innovatix (formerly Macrosoft Inc.) is looking for someone with an artistic element to them, someone who has a visual element, as there’s a lot of design work and visual work associated with the creation of templates and documents. Innovatix has a team that can support clients’ needs, whether it’s new development of documents and communications, migration from a legacy platform to a modern quantity platform, or support of an existing Quadient project. Whatever the need is, Innovatix has a team that can support it. If you need support, reach out to Innovatix and meet the people that make it happen. They look forward to working together.

John Kullmann January 20, 2023 No Comments

Top 3 Use Cases of RPA in The Insurance Industry

At Innovatix Technology Partners, a Macrosoft, Inc. company, we understand the importance of staying ahead of the curve in today’s fast-paced business world. One way to do this is by embracing the power of robotic process automation (RPA) to increase productivity, profitability, and scalability for our customers. But you may be wondering, “Is RPA really necessary for my organization?” The answer is a resounding yes. RPA is being implemented across companies in all industries, from small businesses to large corporations. It allows for routine, transactional activities to be handled by bots or computers, freeing up human employees to focus on higher value-added tasks that require judgment and reasoning. In the insurance industry specifically, there is a vast amount of data and transactions that occur on a daily basis. However, we want to highlight the top three key use cases that insurance companies can benefit the most from by implementing RPA: Underwriting: This process involves collecting data from multiple sources and applying a series of rules associated with risk and historical performance. RPA can automate this process, allowing human employees to focus on final evaluations and approvals. Policy Administration: Routine tasks such as accounting, taxes, and compliance can be automated to take the burden off human employees and allow them to focus on more valuable tasks. Claims Processing: RPA can assist with OCR (optical character recognition) to scan and process data, verify coverage, and ensure claims verification. This process can then be escalated to a human for final approval. At Innovatix Technology Partners, we are dedicated to helping our customers stay ahead of the game by leveraging the power of RPA. Whether you’re in the insurance industry or any other industry, we can work with you to determine the best course of action for your organization. Don’t wait any longer to start reaping the benefits of RPA – contact us today to learn more. Contact Innovatix

Today’s IT Staffing: It’s not Just the Skill Set, it’s Also the Team Structure

In our new virtual working world, technology teams across all industries and geographies have an ongoing need to supplement their teams with IT contractors. Experience has shown that leaders dive into resumes to try and find the best qualified candidates. This is extremely important but to make that candidate successful, you need to have the right team structure in place. Innovatix Technology Partners has a history of working with companies in a variety of formats. The format best suited for you is dependent upon your company’s individual situation and requirements. On-site Contractors Although expensive, but this mode of engagement has great benefits to organizations. On-site availability of contractors allows project teams to sit in adjoining desks and seamlessly collaborate. If you’re in an area with a rich talent pool and you have the budget, this can work well. On-site contractors are typically used in a temp-to-perm scenario, where after demonstrated success the candidate is converted to a full-time internal employee. US Remote Resources Working remotely has become the norm. Remote US based resources serve as extensions to your team and can work out of a centralized facility or from their home office. They can travel for on-site training at joining or for important deliverables. This is a great way to get the resources you need while providing them the quality of work life they desire. Allowing people to work from home provides you top tier or specialized technology talent that can’t be found local to your office. US Hybrid Resources Hybrid mode refers to a way of working that combines elements of both remote work and on-site work. In a hybrid work model, employees may spend some of their time working from a remote location, such as their home, and some of their time working in an office or other on-site location.  There are many potential benefits to working in hybrid mode, including increased flexibility, reduced commute times, and the ability to take advantage of the resources and support of an office while still enjoying the benefits of working remotely. Most folks who can’t go to office every day are willing to continue using the hybrid approach.  Blended Managed Teams Blended managed teams engage a US team lead to coordinate work efforts and overseeing an international development team. At Innovatix Technology Partners, a Macrosoft, Inc. company, we have found this to be the most successful and cost-effective solution for a growing number of clients. It enables you to have a liaison who understands requirements, technology, and project schedule.  The team lead knows how to manage an international development testing network and support team. Agile coordination with daily standup meetings ensures long-term success and on-target delivery. This flexible solution provides you the ability to quickly scale up or scale down your resource needs.  Using the Agile methodology where requirements and solutions evolve through a collaborative effort while maintaining Sprint tracking ensures your project stays on schedule. Virtual Teams Virtual team is comprised of an entirely international team supporting your operations. This work very well if you have the internal resource team structure to allow you to package and communicate the work tasks to the international team. Critical to success is having a strong team lead managing and interacting with the virtual team members on a daily basis. We have found that Agile project management processes work best with a completely international team. Determining the right solution for you before engaging the resources ensures you’ll have success as you set up your project team. Information about Innovatix’s staffing solutions can be found on our website or contacting us directly.

Why Companies Prefer a Custom Software Solution?

There are literally millions of software applications available on a commercial basis for your company to use. Why would any company consider building a custom software solution? For that matter, why would anybody start a new business since there are already millions of businesses today? As you can imagine, there is certainly a reason for a custom business solution for your organization and it’s due to the uniqueness of your company. There are really four primary drivers that indicate that a custom solution is right for your organization. Innovatix Technology Partner has a development team within our enterprise development systems specifically working with clients to build custom software solutions. We use the Agile methodology where we divide the work into equal sprints every two weeks. That way we’re collaborating with the clients to ensure they get exactly what they need in the system that works with their business. Contact Innovatix if you’d like to learn about building a custom software solution for your business, or if you already have a custom software solution and you either want to make enhancements to it or want to modernize it onto a modern technology platform, Innovatix can support you there. We are a Microsoft Certified Gold Partner and therefore work with commercial software languages, or we also work in open-source software languages. Innovatix is here to help your business design the software solution that needs in order to excel in business today.

What is Technical Staff Augmentation?

Technology Staff Augmentation – What is it? Is it right for you as a company? Is it right for you as a candidate? And why would you want to partner with Innovatix? What is Technical Staff Augmentation? This assumes that you as an organization have an existing IT staff supporting your day-today needs, but you need to supplement that. Why? Maybe you have overflow work. Maybe you have a deadline you need to meet. Maybe you’re building out something that your team will operate, but these people become part of your existing team and work collaboratively, side by side, as opposed to wholesale, offshoring or outsourcing a development project that gets developed separately from this. This is integral and part of your team. Why would you want to do this? Well, maybe you have short term needs and only need to do this for a certain period of time, or maybe there’s a particular skill set that you’re looking for a technology aspect to help supplement. Also, you don’t have the upfront, cost and time associated with on-boarding a new person and you don’t have the ongoing overhead associated with it. So that’s why it might fit you as a company to look at technical staff augmentation, but you as a candidate. Why might it be right for you? First and foremost, it really allows you to look at interesting jobs in your specific niche and your specific area so you can quickly advance your career by growing your skills in your technical area that make you most desirable in the marketplace. And, it allows you to have a work life balance as you supplement your work and balance it with your life according to your schedule. So, you get to grow your skills in your specific area and have the balance of your work life. Why would you want to work with Innovatix? Well, Innovatix Technology Partners, a Macrosoft, Inc. company, is a 30 year old technology company. We’re based in New Jersey, and we work with companies around the US to help provide the best candidates for their needs. And, how do we do that? We have a deep talent pool that we’ve built over the past 30 years through our alumni, through our contacts, through our networking that we can reach into to find the right candidate specific for your requirements. And we’re completely transparent, both with the company to make sure that they understand exactly what’s happening and the candidate to ensure that they completely understand that it’s happening. And we pride ourselves in this transparency and working with people. Where do we focus on? Where do we work every day? Probably three areas: First would be Full Stack Java developers. If you have particular skills in this area or needs in this area, we can certainly help you. Next will be on Cloud Infrastructure. We’re dealing with this every day with candidates as well as clients. And the last or third area would be the Technical Project Manager focused on Agile Scrum methodology. Of course we work in many different areas of many different clients, many different technologies, but those are the three key focus areas that are right in the center of our bulls-eye that we can support you with today. Contact Innovatix if you’d like to understand how you can be a candidate working with us or if you as a company have need for technical staff augmentation.

Quadient Inspire Certification is Key to Success

In the hands of a beginner power tools can be risky or even perilous; but, if you put that same set of tools in the hands of a skilled craftsman, you will soon see beautiful products or even works of art.  It is only common sense that a new person in a machine shop wouldn’t be simply allowed to operate heavy machinery without the proper training skills and certification. Macrosoft feels the same for the use of Quadient Inspire. That is why we invest to ensuring our team members are both trained and certified to utilize Quadient Inspire’s tools and technologies. Quadient Inspire is an incredibly powerful suite of technology tools that enables companies to enhance the experience for customers through optimized individualized and timely communication, but like any tool it’s only effective when utilized by a skilled professional. Macrosoft has built a team of US and international developers with the skills to ensure your Quadient Inspire project is successful. Whether your company is new to Customer Communication Management (CCM) or you have worked in the space for years you understand the importance of having a team of people with the skills you need. Clients today are demanding convenience. People expect companies to work across channels while using a variety of devices. They expect your business to be available 24/7 and follow them where they are.  At the same time, you are facing more regulation. Using the Quadient Inspire suite we will help your business speed up the process of communication across a wider variety of channels. Certifications’ span the entire scope including: Basic and Advanced Designer Basic and Advanced Interactive Scaler Content Manager If you have requirements for local or remote services let us know and we can support your communication journey. Contact Macrosoft today.

How to Start Your Journey into AI with Transfer Learning

AI is coming – Transfer Learning provides a way to dip your corporation’s toe into the AI pool. Artificial Intelligence (AI) and Transfer Learning (TL) Artificial Intelligence (AI) it used to be the future.  But now, it is rapidly becoming the present. And businesses will either utilize it or be left behind. Obviously, it is in your best interest to learn how AI can work for your business.  That is where Transfer learning comes in. What is Transfer Learning (TL) Transfer Learning (TL) is a machine learning technique in which a data model is trained for one task in a large data set, then re-purposed and applied to a second, typically much smaller, data set.  It optimizes Machine Learning (ML), which enables businesses to achieve rapid progress and enhanced performance when applied to their business objective. The biggest impediment to beginning your first project is having enough normalized data to train a model.   Teaching an AI model is a laborious task typically taking dozens of computers, millions of data points and weeks of processing time.  Small Businesses want to leverage AI but don’t have the resources and skills to do this while still running their daily operations.  Even once trained, AI learning is never-ending but must continue to adapt as our world is ever changing. In simplest terms, Transfer Learning provides a way to take full advantage of AI, and gives your business an enormous competitive advantage How Can TL Be Applied to My Business and What Will it Do for Me? The first step in TL is to have a base network, data set and task where AI can be trained on effective decision making. Then that AI model is applied to a similar data set within your business. TL has been particularly applicable in both Natural Language Processing (NLP) and Vision/Image projects, because these models, having been run against enormous data sets over long periods of time, are highly reusable and well-defined.  This allows a business to apply the trained model, to its specific data which, with expert tuning, will generate similar results. TL can be enormously beneficial in specific areas, such as product cataloguing, image classification, purchase prediction, branding impact, and others.  As mentioned earlier, AI once was the future, but it is rapidly becoming the present.  And, as any competitive business knows full well, when the future becomes the present, the present becomes the past.  We strongly urge that you come along for the ride, by conducting a trial project, to find out first-hand what TL can do for you. How Does My Business Get started? The steps to get started are simple.  They involve a short series of virtual work sessions where our experienced Data Scientists learn about your key business objectives and available corporate data.  These work sessions start with Data Discovery and building of a Feasibility Plan.  We can then identify established proven TL model algorithms that can be applied to your business’s available data set. Bottom Line:  It’s quite obvious that the AI train is coming down the tracks. You have the opportunity to either get on board or be run over. Transfer Learning is a low risk, speedy way for your business to stay in the present – and maybe even move into the future. 

The key to success is 1:1 personalized digital communications

Is your company’s communication program prepared for the new normal? We are all living in a time of global crisis. COVID-19 has radically affected our daily lives. Besides the obvious and terrible human cost of the virus and its devastating impact on public health, we could be heading for a global economic crisis.  It’s a new territory for all of us. Innovatix Technology Partner has a more optimistic point of view in these uncertain times. We cannot predict the future. But we can control how we respond to the emerging new situation as it unfolds.  It has been said that adversity can be the element that defines our character.  Crisis can be a time to look deep inside and begin a positive transformation. Every company who wants to thrive needs to be asking What do we need to be doing now, so in three years, we can say this current crisis was the best thing that could have happened to our company? At Innovatix we believe the key to success is digital communications. We are in a new virtual working world.  Your company needs to consider revising how you manage communications to ensure you are always having a one-to-one conversation. Establishing a lasting relationship with clients, requires they feel valued. Targeted communication with personalization is now expected.  Companies must get in touch with clients as an individual, avoid treating every contact the same Not all people are the same and if your company still believes you can treat them the same you are likely to alienate your customers. Email remains the least expensive way to quickly reach large numbers of contacts. Email may work for many customers, but not for everyone. Some may prefer to receive updates by email, while others might prefer text. If you are not matching your communication to customers’ preferences, they will soon be frustrated.  Likewise, sending the same messages and content to each client is not effective. This can cause clients to feel undervalued and decrease response rates. Innovatix works with the Quadient Inspire CCM communication suite making personalization simple using automation. Nowadays, employees work from home and resources are exhausted. Personalization increases complexity and can lead to errors. The solution is technology. Quadient’s user-friendly software can automate the creation and distribution of documents. This ensures that accurate, professional-looking items are always sent to the correct recipient and channel. Sending targeted and personalized messages to customers at the right time and via the right channel is the key to increasing customer loyalty and satisfaction. Those who are successful can build long-term relationships that have a direct impact on their sales and thereby the growth of the business.  

Automate Code Generation with Innovatix’s Digital Sandbox

Innovatix has a dedicated practice when it comes to the migration of legacy technologies to new .NET based platforms. Over the past decade, Innovatix have modernized numerous mission critical legacy applications to the latest technology stack. This includes technologies such as: Visual FoxPro (VFP) Classic ASP Visual Basic 6 (VB6), and Database Migrations   To facilitate these modernization projects, Innovatix has created a suite of utilities designed to speed the migration as well as ensure higher accuracy and complete testing.   We follow a 5 stage migration methodology as applicable in our Digital Sandbox: Stage 1 – Code Matrix: Code Analysis Using Innovatix’s Code Matrix analyzer tool we analyze your Legacy Application and produce a comprehensive matrix that serves as a starting point for the development team. This data helps us chart out the complexity of the application, the duration for conversion and associated cost. Clients are now capable of making an intelligent decision as to which migration strategy fits their business. Stage 2 – SpecGenerator: Generating Code Specifications Creating specifications documentation with Innovatix’s SpecGenerator tool which is a system analysis document generator. By verifying the specification documents developers can understand the design attributes and business rules, along with validations and DBF information available in the legacy application. Stage 3 – DataMorph: Migrating Legacy Data Structures This process involves database conversion. Innovatix’s DataMorph tool migrates the legacy database structure and imports data to an equivalent target database. It enables field mapping between the legacy data types and equivalent target data types. You can also export legacy DBF data into a new target database or overwrite the contents of an existing database on the target database server.  Stage 4 – CodeMorph: Generating .NET Code Here we convert the legacy application using Innovatix’s Code Morph tool. This tool reads the legacy codes and creates new .NET codes using a multi-tier application framework (mostly using Dazzle our custom-built .Net Foundation Framework). It shows the number of reports, forms, menus, and program files. With this tool, developers can easily convert large applications to the .NET framework with better accuracy. Stage 5 – Selenium: Accurate and Complete Testing We perform automated Selenium Testing for web-based applications by comparing the actual results with the expected results. Our test strategy involves performing legacy code analysis and preparing detailed test cases using which we perform detailed testing of screens. By performing automation testing we ensure that the new application performs as expected. Digital Sandbox – How it works With Digital Sandbox authorized developers take a section of complex code and let the migration engine produce clean code as an output. Then opening this in Visual Studio the developer is guided through the steps to manually fix specific elements. When performing a migration, we use our Code Morph utility to migrate the vast majority of codes. The Digital Sandbox is used for problematic sections of the code that require manual intervention. This enables the developer to focus on areas that need attention quickly, resolve them in the sandbox, and then apply them within the larger codes. Visit Innovatix‘s website to learn more about this suite of utilities we utilize during our migrations.