Posted Dec 4, 2013
AccuSystems’ flagship product is especially helpful for managing commercial loan documentation (http://www.accusystem.com/tours/accuaccount). However, expanding your bank’s document management strategy should not stop at loans - in fact, AccuAccount is also used to manage all accounts, specifically loan, customer, deposit, and trust information. AccuDoc (an add-on suite of modules or a stand-alone product) offers even more document management capabilities, such as accounts payable, human resources, contract management, and more.
In this article, we’ll explore the benefits of extending electronic file management to all aspects of your institution’s operations.
Why Stop at Loans?
Banks and credit unions offer a lot more than just loans, so why would your document management stop there? A well-executed document management strategy incorporates all aspects of account information and can lead to a much better customer experience (and more efficient operations). By managing all customer and account information electronically, your institution gains instant access to a 360-degree view of all customer information. Loan, deposit, trust, and account information is accessible from all branches with just a few clicks. This can help your team identify upsell opportunities and maintain higher levels of customer satisfaction.
Since all information is stored securely on your existing servers, risk of information loss is greatly reduced. Transporting physical versions of customer account information represents a big risk to your institution. Through imaging and electronic management, you minimize this risk and provide a better customer experience and security.
What About Operations?
Furthermore, an efficient document management system shouldn’t stop with the customer-facing aspects of your bank. Back office and other daily operations should be included in your imaging strategy. By digitizing electronic documentation such as accounts payable, human resources, contact management, and policy/procedures, your bank can also keep internal stakeholders happy. Improved record management means better accuracy, faster recall, and fewer resources devoted to non-revenue producing activities. All of this can be a tremendous competitive advantage and, of course, add value for your customers as well.
As previously mentioned, AccuDoc helps your institution digitize all aspects of its operations. Below are some of the more popular modules available via AccuDoc:
The decision to deploy a document management system should include all aspects of your institution’s operations – both external and internal. Virtually all banking functions can benefit from the added security, accuracy, and efficiency provided by a bank document management platform.
Posted Nov 13, 2013
Unfortunately, many banks and credit unions end up wasting time and money by implementing systems that do not meet their needs. Each year, millions of dollars are wasted in the financial industry due to poor communication between departments and lack of proper planning.
Choosing a new software application certainly can be challenging, as there are a variety of factors to consider. Cost, management buy-in, technical specifications, payback period, training, and staffing are just a few of the things you need to consider. So, what’s the best way to evaluate all of this input?
AccuSystems will be hosting a free webinar, designed to help your institution make the most informed software acquisition decision. The principles from this webinar can be applied to virtually any technology acquisition scenario, not just document management.
Register today for our webinar on Wednesday, December 4th.
Posted Nov 6, 2013
Looking for ways to make your institution’s core even more powerful – without having to shop for a new core system? You’re in luck, especially if you’re seeking an enterprise-wide document management solution.
AccuAccount, our flagship document management software, offers integrations with dozens of core systems to make your bank processes more streamlined, flexible and paperless with our advanced imaging. In fact, AccuAccount integrates with some of the biggest names in core processing, including:
AccuAccount also integrates with trust core systems, streamlining the trust management process. AccuAccount’s integration makes communication across management platforms consistent and straight-forward.
Integration Offers Tangible Benefits
What are the benefits of integrating with a third-party imaging platform, such as AccuAccount? First, your bank or credit union instantly increases its efficiency for managing loan, trust, and other important documents. In addition, a system like AccuAccount will help your institution increase control, accountability, and accessibility to documents with the added convenience of “going paperless.”
There’s also a major financial incentive for digital management of documents. Bank News recently reported on a financial institution that saves over $30,000 per month by deploying an integrated third-party ECM. Savings on toner and printer maintenance, elimination of paperwork preparations, fraud prevention, and effectiveness of transferring digital files were all considerations in the study. Learn more about the study here.
Take the First Step
Interested in learning more about integrated document management? Review the list of integrated core and trust core systems today. Click here for more information regarding core systems and here for trust core systems.
Posted Oct 23, 2013
When adding functionality to your current platforms, it’s vital to review how the new software will interact with your core system. No institution wants to spend a bunch of time and money on a new, mission-critical feature only to find out that it doesn’t work well with your main system. In fact, any additions should always enhance your existing core, not detract from it. With this in mind, we’re going to explore some considerations for evaluating third-party integrations.
Most Popular Core Systems
For starters, it’s important to get the “lay of the land” in terms of core systems. Unlike many industry-specific software platforms dominated by just a few options, there are many product choices in the banking industry. Of course, some are more prevalent than others, and popularity can vary quite a bit by region - especially if you look worldwide. Here in the United States, the market appears to be dominated by four major players, which comprise 96% of the market: FIS, Jack Henry, D+H, and Fiserv. Each brand offers several different core systems with a variety of feature sets.
Case Study: $30,000 in Monthly Savings from Document Management
Your core system shouldn’t operate in a silo. Adding functionality through third-party software can be extremely beneficial. For example, Bank News recently published the details of how Great Western Bank saves $30,000 per month by leveraging a third-party ECM (enterprise content management system). The bank was very scientific in how it arrived at this savings, evaluating over 600 personal bankers via a time and motion study.
As illustrated by the previous example, document imaging is a particularly sought-after integration, as it can save the institution a lot of time and money. As such, a document imaging system needs to be intuitive, efficient, and play nice with the core system. This is why we’ve built AccuAccount to integrate with the top core systems, including integration with Fidelity, FIS, Fiserv, Jack Henry, and over 30 other core systems.
Clearly, the best way to optimize the value of your software is to add third-party integrations. If done correctly, your institution can continue to increase customer and employee satisfaction - and yield a nice return on investment too.
To learn more about how AccuAccount document management software integrates with your core system, click here.
Posted Oct 22, 2013
How Does AccuPrint 3.0 Build New Efficiencies?
If you already use AccuPrint, you’ve seen the benefits. Upload any file from your computer directly into AccuAccount. Drag and drop digitally “printed” documents into any folder in the system. Simply stated, AccuPrint helps you automate many of the labor-intensive parts of processing documents.
With AccuPrint 3.0, our developers have built additional flexibility for managing documents. Dialog boxes and advanced auto fill-in options make the system even more user-friendly. Enhanced search features make accessing client information much easier. Most notably, integration with AccuSign Pro allows you to send signed documents from your iPad directly to AccuAccount.
What’s New with AccuPrint 3.0?
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