KnowledgeLake, a leading provider of intelligent document processing (IDP) solutions, today announced that the California State Treasurer’s Office has selected the company’s cloud-native solution to capture, process, and manage their mission-critical documents.
The State Treasurer’s Office oversees an investment portfolio that has averaged more than $100 billion during the current administration, about one-third of which are funds beneficially owned by more than 2,200 local governments in California. In addition, the State Treasurer’s Office manages three savings programs helping individuals with disabilities, families saving for their children’s college educations, and private employees without an employer-sponsored retirement savings plan.
The State Treasurer’s Office is comprised of 16 boards, commissions and authorities, and the ability to securely manage documents among these entities is of critical importance. KnowledgeLake will help the State Treasurer’s Office migrate from a legacy content management system to KnowledgeLake Cloud, while leveraging their M365 investment.
“Moving away from our on-premises application to a modern cloud solution will help the State Treasurer’s Office remove technical debt and reduce employee time spent on manual data entry and document search. In addition the State Treasurer’s Office will see significant cost savings in migrating from their legacy ECM solution to the KnowledgeLake Cloud” said Ron Cameron, CEO of KnowledgeLake.
About State of California Treasurer’s Office
The State Treasurer’s Office was created in the California Constitution in 1849. It provides financing for schools, roads, housing, recycling and waste management, hospitals, public facilities, and other crucial infrastructure projects that better the lives of residents. California is the world’s fifth-largest economy and Treasurer Fiona Ma is the state’s primary banker. Presently, her office processes more than $3 trillion in banking transactions. She provides transparency and oversight for the government’s investment portfolio and accounts, as well as for the state’s surplus funds. Treasurer Ma oversees an investment portfolio that currently averages over $200 billion—a significant portion of which is beneficially owned by more than 2,200 local governments in California. She serves as agent of sale for all State bonds and is trustee of billions of dollars of state indebtedness.
KnowledgeLake is a worldwide leader in intelligent capture and process automation. KnowledgeLake is the only end-to-end, fully cloud-native solution for document processing, enabling organizations to capture, process and manage their content in a single platform. We combine intelligent document capture and robotic process automation (RPA) to increase productivity. Two million users worldwide employ KnowledgeLake to work faster and more efficiently. For more information, visit knowledgelake.com.