How to Take the Manual Work Out of Tracking Documents

Still tracking exceptions manually?

You’re not alone. As we mentioned in our webinar, Reduce Stress with Better Scanning, 22% of banks we surveyed still use spreadsheets for managing and tracking exceptions.

The good news is this – there’s a better way! If your bank is ready to take the manual work out of tracking documents, this article is for you. We’ll explore the benefits of an integrated exception tracking system and share a few tips for managing and clearing exceptions the easy way.

3 Reasons an Integrated System is Better

What can your bank expect to gain from an integrated exception tracking system? Because this method requires little to no human interaction once enabled, institutions will find that an integrated system typically leads to the following:

  1. Faster indexing
  2. Fewer exceptions
  3. Greater efficiency

There’s one more benefit we can’t forget to mention – happier customers. That’s right, gone are the days of bugging customers for documents that have already been received but overlooked. With the help of an integrated exception tracking system, your bank can focus on providing the best customer service possible.

Managing Trailing Documents & Clearing Exceptions

An integrated exception tracking system like AccuAccount makes it possible for your bank to scan trailing documents and clear exceptions in just a few quick steps. In the examples below, we illustrate just how simple tasks like clearing trailing collateral exceptions and dealing with expired documents can be.

[Example #1] Receiving a Collateral Exception Document

A trailing collateral document (like the Deed of Trust) will not likely be in the original file to scan in bulk. When your institution receives a collateral document, simply open the customer’s electronic file in AccuAccount and scan the document directly into the Deed of Trust tab. Doing so will also automatically clear the missing document exception.

Collateral Exception

[Example #2] Getting Expired Documents into AccuAccount

Now let’s look at how easy it is to update an expiring document (like a Proof of Insurance document) in AccuAccount. The process is very similar to the one outlined in the previous example. Upon receiving the new insurance document from your customer, simply scan it directly into the insurance tab in the customer’s electronic file. Be sure to update the expiration date with the new insurance documents.

Once the expiration date has been updated within AccuAccount, the expiring exception will be cleared. Putting lead times on expiring documents allows your bank to get notified before the document hits the expiration date the next year.

New Insurance Document

Stop Printing Files that are Already Electronic

You may be wondering what happens when your bank receives an electronic document (appraisals, spreadsheets, land surveys, corporate documents, insurance documents, etc.). Do you have to print these files in order to get them into AccuAccount? Absolutely not!

When electronic documents are received, AccuSystems has a solution to move those images directly into AccuAccount without printing the paper. It’s called AccuPrint.

AccuPrint uses a virtual printer that indexes the document with the customer account and document tab information and moves it into AccuAccount. This process eliminates the printing of the paper document, the individual indexing, and the scanning of the document. In addition to helping your bank go paperless, AccuPrint can:

  • reduce overhead and printing costs
  • increase visibility of files
  • streamline your workflow

Furthermore, images from other third-party systems don’t need to be printed in paper form. They can be electronically moved into AccuAccount. AccuSystems has done direct image interfaces with doc prep systems, flood determination documents, and mortgage systems. The list of interfaces that we currently have in place is growing. AccuSystems is willing to look at interfacing with any image system that you may have to streamline the process, reduce labor, and save the bank some money.

Employees Will Thank You, Customers will Love You

An integrated exception tracking system is a win-win for everyone involved. If your bank is ready to say goodbye to the inefficiencies that come with manually tracking exceptions, contact us to see a free demo of our software.

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