The sheer volume of data that businesses need to handle can be overwhelming. Managing this data efficiently is crucial for staying competitive. According to a report by Research Nester, the global Document Management Systems market cap was estimated to be $8.2 Billion in 2023, and it is expected to grow to $49.89 Billion by 2036.

AI has become a game-changer in various fields, and document management is no exception. Traditional document management systems often require extensive manual input, leading to inefficiencies and increased chances of human error. With AI, these tasks can be automated, allowing for quicker, more accurate processing.

This is where Microsoft SharePoint Syntex comes into play. Syntex leverages artificial intelligence (AI) to transform the way organizations manage their documents, turning unstructured content into structured, actionable information. And that’s what this blog is all about.

We will discuss in detail everything about Microsoft Syntex, so you can decide whether you should implement it in your organization or not. So, let’s start.

What Is SharePoint Syntex?

So, what exactly is SharePoint Syntex? At its core, SharePoint Syntex is an AI-powered service designed to automate the capture, ingestion, and categorization of data within documents. It uses machine learning to understand the content of documents in a way that mimics human reading comprehension. This means it can automatically tag, classify, and extract key information from documents, which significantly reduces the need for manual data entry.

The purpose of SharePoint Syntex is to enhance productivity by automating time-consuming document management tasks. Imagine being able to upload a batch of contracts and having the system automatically identify important clauses, tag relevant metadata, and classify them into the appropriate categories. This is the power of Syntex. It’s not just about storing documents but making them more accessible and actionable.

Is Syntex Part of Microsoft 365?

Yes, SharePoint Syntex is part of the broader Microsoft 365 ecosystem. This integration is seamless, meaning that Syntex works in harmony with other Microsoft 365 applications like SharePoint, OneDrive, and Teams.

To access SharePoint Syntex, organizations need a Microsoft 365 subscription with the Syntex add-on. This subscription model is flexible, allowing businesses to scale their use of Syntex according to their needs. The subscription includes access to all Syntex features, regular updates, and integration with other Microsoft 365 services. This setup ensures that organizations can fully leverage Syntex’s capabilities without having to overhaul their existing IT infrastructure.

What Are The Benefits of Sharepoint Syntex?

SharePoint Syntex brings numerous benefits to the table. Here are some of the key advantages:

●       Improved Document Management: By automating the classification and tagging of documents, Syntex makes it easier to manage and retrieve information. This is particularly beneficial for organizations that deal with large volumes of documents.

●       Enhanced Efficiency: By automating repetitive tasks such as data extraction and metadata tagging, Syntex frees up employees to focus on higher-value activities. This boost in productivity can lead to significant cost savings and more efficient use of resources.

●       Increased Accuracy: Human error is a common issue in manual document processing. Syntex’s AI-driven approach reduces these errors, ensuring more accurate data management.

●       Better Knowledge Management: Syntex makes it easier to find and leverage organizational knowledge by ensuring that documents are well-organized and tagged with relevant metadata. This capability enhances the overall efficiency of knowledge management processes within an organization.

●       Enhanced Compliance And Security: For many industries, compliance with regulatory requirements is a significant concern. Syntex helps organizations meet these requirements by ensuring that documents are accurately classified and easily retrievable. Automated metadata tagging also aids in maintaining comprehensive records, which is crucial for audits and compliance checks.

How Microsoft Syntex Boosts The Features of Sharepoint And Document Translation

Microsoft Syntex doesn’t just add to SharePoint; it supercharges it. Let’s explore how Syntex enhances SharePoint’s existing features and brings new capabilities to the table.

Document Translation:

In today’s globalized world, the ability to manage multilingual content is crucial. Syntex can automatically translate documents into different languages, making it easier for multinational organizations to manage and share information across different regions.

Automated Intelligent Document Processing

Syntex can automatically classify and tag documents based on their content. This automation means that as soon as documents are uploaded into SharePoint, they can be organized and tagged without any manual intervention. For example, a user looking for a specific type of contract can benefit from more precise search results, thanks to the automated tagging and classification provided by Syntex.

Data Extraction

Another powerful feature of Syntex is its ability to extract relevant data from documents. Whether it’s dates, names, addresses, or other critical information, Syntex can pull this data from documents and make it available for other business processes. This capability is invaluable for industries that rely heavily on forms and structured documents, such as healthcare and finance.

Key Features of SharePoint Syntex

SharePoint Syntex boasts a rich set of features designed to leverage AI for better content management. Here’s a detailed look at its key features:

Document Understanding Models

Document understanding models are AI models that learn from example documents. Users can train these models to classify documents and extract relevant information based on the content. Once trained, these models can automatically process similar documents, significantly reducing the manual effort required.

Form Processing Models

Form processing models are designed to extract structured data from forms, such as invoices or purchase orders. Users can create models to identify and extract specific fields from documents, making it easier to manage and process structured data.

Metadata Tagging

Automated metadata tagging is one of the key features of SharePoint Syntex. By analyzing document content, Syntex can automatically assign relevant metadata tags, making it easier to search for and manage documents. This feature also helps ensure compliance with regulatory requirements.

Integration with Microsoft Power Automate

Syntex integrates seamlessly with Microsoft Power Automate, allowing users to create custom workflows based on Syntex actions. For example, you can create workflows to automatically route documents for approval or trigger notifications based on document classifications.

What Are The Core Components of SharePoint Syntex?

The following are the core components of Microsoft SharePoint Syntex:

Content Center:

The Content Center is the nerve center of SharePoint Syntex. It’s a centralized location where users can manage and deploy AI models across their SharePoint environment. The Content Center provides a user-friendly interface for creating, training, and managing document understanding and form processing models.

Content Classification:

Syntex uses AI to automatically classify documents based on their content. This feature ensures that documents are organized correctly and can be easily retrieved when needed. Classification rules can be customized to meet the specific needs of the organization, ensuring that documents are categorized in a way that makes sense for the business.

Compliance Manager:

This component includes tools to ensure that documents meet compliance requirements. It helps organizations maintain regulatory compliance by providing automated checks and balances.

Enhanced AI Models

Microsoft has improved the accuracy and capabilities of Syntex’s document understanding and form processing models. These enhancements ensure that Syntex can handle a wider range of documents with greater accuracy, reducing the need for manual intervention.

What Is New In Microsoft Syntex?

Microsoft is continuously enhancing SharePoint Syntex, adding new features and improvements to make it even more powerful and user-friendly. Here are some of the latest updates from the Microsoft 2022 update document:

Expanded Language Support

Syntex now supports more languages, making it easier for businesses to manage multilingual content. This expanded language support ensures that Syntex can be used in a wider range of regions and industries, enhancing its global applicability.

Syntex Assessment Tool:

The Syntex Assessment Tool can generate a Power BI report that summarizes trends in your SharePoint information architecture. This report helps identify areas where Syntex could deliver high value by Highlighting libraries and folders with high document volumes that could benefit from automated classification and tagging.

Contract Management:

Contract management is a critical function for many businesses, and Syntex has introduced new capabilities to streamline this process. With the new contract management feature companies can easily control the entire lifecycle of contract management, from initial drafting and review to execution and renewal, with the help of Standard Syntex libraries and automatic classification.

Advanced search with custom columns:

Another significant enhancement in Syntex is the introduction of advanced search capabilities with custom columns.

Custom metadata columns can be added to the Syntex advanced search form for any licensed Syntex user. These custom columns can include:

●       Multiline Text Fields: These fields allow for the inclusion of detailed descriptions or notes, making it easier to search for documents based on extensive text criteria.

●       Taxonomy Fields: These fields enable the use of hierarchical terms or categories, allowing users to filter search results based on specific taxonomies relevant to their organization.

For example, a business might add a custom column for project names, enabling users to quickly find all documents related to a specific project. Similarly, a taxonomy field could categorize documents by department, making it easy to filter results by the relevant business unit.

Microsoft Syntex Deployment Options

Microsoft Syntex offers flexible deployment options to suit different organizational needs:

1. 1. Cloud Deployment: Syntex can be deployed in the Microsoft 365 cloud, offering scalability and ease of access. This option is ideal for organizations looking for a flexible and scalable solution.

       

   2. Hybrid Deployment: For organizations with specific regulatory or security requirements, a hybrid deployment option allows for a combination of on-premises and cloud-based solutions. This setup provides the best of both worlds, offering flexibility while maintaining control over sensitive data.

       

   3. On-Premises Deployment: While less common, Syntex can be deployed on-premises for organizations with stringent data control requirements. This option is suitable for organizations that need to maintain complete control over their data.
      

Each deployment option has its pros and cons, and the choice depends on factors such as regulatory requirements, budget, and existing IT infrastructure.

Customization of SharePoint Syntex

One of the strengths of SharePoint Syntex is its flexibility in customization and development:

1. 1. Custom AI Models: Organizations can create custom AI models tailored to their specific document management needs. This allows businesses to leverage Syntex’s capabilities in a way that best suits their unique requirements.

       

   2. Integration with Third-Party Applications: Syntex can be integrated with other applications and systems to enhance its functionality. This means that organizations can extend Syntex’s capabilities beyond the Microsoft ecosystem.

       

   3. API Access: Developers can use APIs to extend Syntex capabilities and integrate them with other business processes. This allows for the creation of custom workflows and applications that leverage Syntex’s powerful AI features.
      

Real-World Use Cases and Success Stories of Microsoft Syntex

Case Study: London Stock Exchange Group

Let’s discuss the case study of the London Stock Exchange. The success was so amazing that Microsoft featured it on its website.

Summary

The London Stock Exchange Group (LSEG), a leading provider of financial data and infrastructure, serves over 40,000 customers and 400,000 end users across 190 countries. Focused on leveraging innovative technology to enhance its services, LSEG joined Microsoft’s preview program in early 2020 to test Microsoft SharePoint Syntex, an advanced content management service.

Challenge

LSEG analysts were tasked with manually processing Key Investor Information Documents (KIIDs). Each week, an analyst would spend approximately 15-20 hours extracting and inputting data from 250 documents into the organization’s systems. This process was not only time-consuming but also prone to human error, creating inefficiencies in their workflows.

Strategy

To address these inefficiencies, LSEG piloted SharePoint Syntex with 40 analysts. Syntex was used to ingest KIIDs and automatically capture key information such as fund identifiers, charges, and dates. This automation dramatically reduced the time spent on document processing.

Results

The results of the Syntex pilot were remarkable. The time required to process 250 documents per analyst per week was reduced from 15-20 hours to just 60-90 minutes. This saved LSEG nearly 1,240 days of work time per week.

Wrapping Up

Microsoft SharePoint Syntex is a powerful tool that leverages AI and machine learning to enhance document management and automation processes. If you need to implement SharePoint Syntex in your organization, then contact our Microsoft-certified consultants at Al Rafay Consulting. With over 10 years of experience, our experts can quickly deploy and customize the features for you.