Among the systems Paladin has created by weaving together existing software applications are document handling and approval-based structures that rely on machine intelligence. In document handling systems, copiers integrated with software read, process and file paperwork such as invoices based on a client’s workflow needs. Approval-based systems are more equipped to manage things like time-off requests or loan and invoice approvals.
It was a request for a document-handling system from a local financial institution that led Mihalevich to start a business in the first place. The bank had bought several others and was struggling to keep its documents in order. “They buy a new branch, and they can’t get the people trained quickly enough to move the documents in the way they need them accurately into the back-end systems,” Mihalevich says. So the company reached out to him and asked for help, hoping to increase efficiency and decrease errors. Once the machine was in place, the results were clear. “We saw reductions [in errors from] probably about 6 percent per million documents to maybe down to .06 percent per million,” Mihalevich says. “And usually that .06 is built around people damaging documents, writing over a barcode, things like those where it breaks our automation.” He says had the bank not contacted him, he would not have opened his business, which he says has earned about $1.5 million in revenue in its first year.