Onsite document scanning helps lender maximize content management system
A leading Colorado financial institution is now maximizing its investment in an OnBase enterprise content management system thanks to onsite electronic record conversion and indexing services provided by D2Xchange. Faced with a massive number of hardcopy documents that needed to be entered into the system this Colorado lender turned to D2Xchange to provide services which would ultimately maximize the lender’s ROI on its document management software.
The organization, which provides commercial and residential loans, had made a sizable investment in electronic document management to achieve organizational goals for increasing operational efficiencies and cutting paper storage and handling costs. While the institution could manage document capture on a day-forward basis, it lacked the equipment and manpower to enter its massive back file of loan and customer documents into the OnBase system. Until these historic records could be captured into the new system, the lending institute could not fully utilize the system across the organization nor maximize its investment in the system.
After weighing the benefits of outsourcing its back file conversion project against hiring, training and managing several new employees (who would have to be let go after the project was complete), the institution identified D2Xchange as an experienced, reliable business partner who could provide turnkey document preparation, scanning, indexing and quality assurance services.
D2Xchange brought value to the project in four distinct areas:
People
Given the massive number of documents to be converted, as well as the sensitive nature of the information they contained, D2Xchange proposed sending a team of document preparation specialists and scanners to work at the customer’s site under the supervision of a D2Xchange project manager. Having an onsite project manager present relieved the customer of responsibility for managing document preparation and scanning personnel. It also gave the customer a single point of contact for project status reports and requests.
Equipment
D2Xchange provided high-quality, high-speed scanning equipment, computer terminals and document capture software. As a result, the lender did not have to develop an expertise in evaluating equipment, nor did the customer have to invest capital in scanners, terminals and software.
Project flexibility was also a benefit. The D2Xchange equipment could be moved throughout the client’s facility as different departments became engaged in the document conversion project. Finally, to minimize any long-term impact on the customer’s facility at the end of the project.
Best-Practice Processes
Given its hands-on experience in managing large-scale backfile conversion projects, D2Xchange was able to implement best-practice processes throughout the project. These consistent, time-tested work processes assured the customer of professional, high-quality output. They also facilitated status reporting to the client. For example, even while working with thousands of boxes of documents, D2Xchange had processes in place that allowed them to respond to the customer at a moment’s notice anytime there were questions about the location of specific loan documents.
D2Xchange was also familiar with the OnBase software the lender was attempting to maximize. With our first-hand knowledge we could provide experienced counsel to the client on how to fine-tune their document retrieval and management processes.
Results
D2Xchange was able to:
1. Convert more than 8 million paper documents helping the customer maximize their original investment in enterprise content management.
2. Identify an indexing scheme that could be applied to 180 unique document types to make it easier for the customer to find information once it was entered into the system.
3. Save the organization thousands of hours of work and more than $160,000 in direct salary and benefit costs.
4. Help the customer eliminate hundreds of boxes of paper documents, significantly reducing the amount of costly office space dedicated to paper storage.