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How Banks Can Maximize ROI with Investments in ECM

Are you maximizing ROI from your ECM?

Maximize ROI from ECMEnterprise Content Management (ECM) technology can be a powerful tool for financial institutions. It addresses some of the most common business process problems that banks and credit unions face, including the burden of too much paper, disorganization of documents and data, and manual processing. By properly implementing ECM, banks can boost productivity, save money, and improve compliance and customer service. By intelligently linking all important documents and data with relevant people and processes, an effective ECM solution should easily connect employees with the information they need – when, where, and how they need it.

Yet, it is not uncommon to find that banks and financial institutions have an ECM solution that they are not leveraging to the fullest extent – particularly when it comes to integration with their business processes and other line-of-business applications. They’ve made the financial investment in ECM but not the strategic and operational investment to actually benefit and maximize that investment. This may be because they’ve chosen the wrong product or the wrong partner.

Below are some tips and pointers to ensure you’re getting ROI from your ECM:

Document Conversions Department• Incorporate document scanning – Document scanning services, located on-site or at our document scanning facility located in Moorestown, NJ, enable you to easily digitize paper files and make them accessible in your ECM. Rather than spending time and energy searching through archaic filing cabinets for the documents you need, they’re available at your fingertips with the click of a mouse.

Choose the Right HardwareDocument and check scanners can be leveraged to improve document filing and storage at your branch locations, as well as to offer remote deposit capture and mobile deposit services to your customers – saving time and money.

Integrate with Outlook – Do your employees use Outlook most of the day? If so, shouldn’t your ECM system be integrated with Microsoft Outlook? Integrating your ECM with Microsoft Outlook allows employees to access content from an application they already know and use daily. Directly from their Outlook inbox, users should be able to capture emails and attachments and store them for future use. Critical tasks can be performed right from Outlook, increasing efficiency and improving service.

To learn more about integrating OnBase by Hyland with Outlook, check out this solution summary.

Integrate e-signatures – Combine your enterprise content management (ECM) system with an electronic signature platform to speed up processing of documents that require signatures. The ability to sign documents electronically eliminates bottlenecks and delays and reduces the amount of paper that you’ll need to manage across branches and departments.

Learn more about integrating e-signatures with OnBase here.

Integrate with all business applications – A good ECM system should integrate with all of your enterprise business applications, whether we’re talking about Salesforce or Sharepoint. The tools you use the most must be compatible with your ECM, allowing for simple integration with no code required.

Why OnBase?

OnBase by HylandBanks and financial institutions all over the world are improving efficiency and decreasing costs with ECM. Principal Global Investors, for example, saves more than $1.6 million annually by electronically capturing more than 1,000 types of documents and managing them with OnBase ECM.

Hyland’s OnBase ECM offer a number of benefits to banks and credit unions, especially improving customer service, reducing operating costs, boosting productivity, and minimizing risk.

Other benefits include:

  • No screen switching – Eliminate the need to switch between screens to find the right information. Users can gain instant access to content without leaving the business application they’re using.
  • Reducing manual data entry – OnBase easily updates your business applications as soon it receives new information, and your other business applications can update using the information that’s stored in OnBase.
  • Easy access – With OnBase, you never have to waste time searching for content. The information is presented in real time with only a single click required.
  • Flagging – Incomplete or inaccurate documents are immediately flagged. Stakeholders are notified immediately so there are no work delays.
  • Mobile capabilities – OnBase brings all critical information and decisions to your smartphone or tablet, allowing you to make informed decisions on the go.
  • Personalized experience – OnBase allows you to personalize your interface, creating your own work experience that is unique to your organization’s needs. Create a dashboard to view all of the documents you need and the processes, tasks and activities you use most often. You can even make note of critical upcoming decisions.
  • Partnership – We treat customers as partners. We work collaboratively with all customers to create products that are intuitive to use and straightforward to expand.

As a 2015 OnBase Gold & Diamond Support Partner, we offer the experience and expertise required to deliver an Enterprise Content Management (ECM) solution that meets each of our customers’ unique business requirements. We also are a leader in the sales, service, and deployment of check and document scanners, with over 20,000 scanners under maintenance. Our document scanning facility serves the eastern United States and converts millions of paper files into readily accessible digital files each year. Visit our website for more information.

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