DECREASE COSTS & SIMPLIFY COMPLIANCE ACROSS THE FINANCIAL ENTERPRISE

Transcription

1 DECREASE COSTS & SIMPLIFY COMPLIANCE ACROSS THE FINANCIAL ENTERPRISE

2 Table of Contents The OnBase story: It all started in a bank The OnBase story It all started in a bank... 2 Why choose OnBase for your document management solution? Break free from the costs and risks of paper The six components of OnBase Control your information... 7 Integration Tie systems together to share information Workflow Connect systems, people and processes Departmental solutions Improve the speed and accuracy of your business processes.. 14 Across the enterprise Optimize your entire organization In 1991, The Necedah Bank, in Necedah, Wisconsin, was searching for a solution to help reduce or eliminate the need to print pages and pages of daily reports. The small financial institution s processes were wasting money and making it next to impossible for employees to find critical information affecting both customer service and the bank s competitiveness. Paperless processes: No longer pie in the sky Since electronic access to information was a pretty cutting-edge idea back then, the bank found only one software vendor that could help it decrease its dependency on paper. Doing so, however, would be costly. That s when Packy Hyland, Jr. stepped in. Hyland was working as a consultant for the bank when he learned about its software search. He understood the bank s business problem and was determined to provide a better and more affordable technology solution. So he threw his hat into the ring despite never writing a single line of code in his life. In a few short weeks, after many trips to the library and a lot of testing, Hyland installed the first version of OnBase by Hyland our content services, or enterprise content management (ECM) solution at the bank. And with that implementation, not only did Necedah Bank break free from paper to increase the speed and accuracy of its processes, but Hyland Software was born. Financial Services Enterprise ECM ebook 2

3 The OnBase story: It all started in a bank Our mortgage files are huge at least 100 pages. We knew if we eliminated some of that paper, we could increase the speed of our lending process and improve service to our clients. Denise Merkel, assistant vice president of data and financial services, PyraMax Bank Many financial companies are decreasing costs dramatically with ECM, commonly called document management. In fact, Principal Global Investors saves more than $1.6 million annually by electronically capturing more than 1,000 types of documents and managing them in OnBase. Customers = partners Our collaborative partnership with customers, set by Packy Hyland more than 20 years ago, is the foundation of Hyland s culture. It s also the way we develop our product. From the beginning, Hyland believed OnBase needed to be easy to install, intuitive to use and straightforward to expand. It s how we ve evolved the solution over time, and it s what drives our product roadmap today. By partnering with our customers and incorporating requests into our annual software release, we ve grown to help more than 5,000 financial services customers reduce their dependency on paper to become more effective and efficient departmentally or across the enterprise. Now it s your turn. Financial Services Enterprise ECM ebook 3

4 Why choose OnBase for your content services solution? If you want to reduce operating costs, improve service levels and minimize the risks associated with regulations, audits and natural disasters, you ve come to the right place. Where your information finds you in familiar applications By capturing documents and information electronically, OnBase puts your world of information in your hands, speeding processes like account origination across your organization. And, with workflows automatically forwarding documentation through processes flagging incomplete or inaccurate documents and notifying stakeholders as it does work is always moving forward. However, when users are working within familiar business applications like Microsoft Outlook, they frequently need access to other important information like loan documentation to help them make or better understand a decision. OnBase eliminates the time spent searching for content, presenting this information to them on their screens in real time, without a single click required. With all the pertinent information automatically in front of loan officers, decisions are quicker and easier. And, with incomplete or inaccurate loan packages routed to the correct people, you quickly handle exceptions and keep loans on track. Here s how OnBase helps you gain a competitive edge: Accelerates your business with increased process speed and accuracy Works behind the scenes so users stay in familiar applications and require minimal training Scales easily across your enterprise Gives you 360-degree views of customer information and the processes that surround it Empowers you to proactively manage regulation compliance and audits with automated document retention, audit trails and visibility into processes Financial Services Enterprise ECM ebook 4

5 Why choose OnBase for your document management solution? Everybody is using OnBase in some way, shape or form. But since it runs in the background, they just don t know it. Tammy Plummer, senior vice president, The First, N.A. Commitment to the product: Ongoing development OnBase is one of the most flexible and comprehensive ECM solutions on the market today. That didn t just happen on accident. At Hyland, we re committed to the ongoing development of OnBase to ensure it enhances the latest IT technology affecting businesses today. This gives our customers the confidence that the platform they ve invested in will continue to be relevant as their organizational requirements change and grow. A great example of this is how OnBase allows users to access content and processes on smartphones, tablets or in the cloud. Your information finds you, even when you re away from your desk Additionally, OnBase enhances your experience when working out of the office. Not only does it bring your critical decisions right to you via your smartphone or tablet, it delivers all related documents as well, allowing you to make more informed decisions wherever you re located. OnBase also brings business intelligence right to your tablet. You view the health of your organization and business processes from anywhere, reviewing critical process metrics and receiving visual notifications in real time, allowing everyone in the organization to make better decisions, faster. Financial Services Enterprise ECM ebook 5

6 Why choose OnBase for your document management solution? A personalized experience OnBase focuses on you. It enhances the way you work by allowing you to personalize your interface, creating your own work experience. Since your job likely requires you to manage multiple activities at once, OnBase allows you to create a dashboard view of all the documents you need and the processes, tasks and activities you use most often. You can even see the critical decisions you need to make. All your work is right there, at your fingertips. Whether you re working at your desk or on the road, directly in OnBase or through another application, you benefit from a rich user experience that caters to the way you work best. Wherever you are, you no longer lose time looking for information because with OnBase, your information finds you. The Hyland user community is always willing to share ideas and solutions. The knowledgebase of the users is so vast, there hasn t been a challenge the community hasn t overcome. Andrew Weibel, senior vice president & chief technology information officer, Lee Bank We re here for the long-term, helping you do the same Hyland has helped more than 13,300 lifetime customers by providing real-world solutions to the business challenges they face daily. That dedication is why we realize double-digit revenue year-after-year. And why 98 percent of our customer base continues to invest in their OnBase solutions. Simply put, our customers see ongoing value in partnering with us. Give us the opportunity, and we think you ll feel the same way. But you probably still have questions about what separates OnBase from the pack. So let s lift the hood and take a look inside at one of the ECM industries most powerful engines. Financial Services Enterprise ECM ebook 6

7 The six components of OnBase OnBase stores critical information and content like the signature IDs employees need to access daily in a single, central location. More importantly, it makes that information easily accessible from almost any device or application. OnBase is comprised of many different components. Putting these components together, you build a solution specifically tailored to meet the needs of your organization and deploy it the way you want to from a single department to across the enterprise. The modular design of OnBase provides maximum value for your investment. You only pay for what you need. As those needs change, you can add to your OnBase solution, so your technology investment grows with you. Before OnBase, if a member called about an old transaction, we had to fill out a research request, take it to the research department and have them track down the voucher and the supporting documents. Now, call center staff can see vouchers and documents instantly in OnBase and answer members in one call. - Patti Moser, IT manager, Whatcom Educational Credit Union Financial Services Enterprise ECM ebook 7

8 The six components of OnBase Control your information Whether you choose to deploy one or all of these components on premise or in the cloud, they improve processes across your organization Capture Get your documents and data off paper and into one secure system Allows employees to instantly access real-time information Decreases shipping and storage costs Automatically classifies any file type including s, faxes and paper Process Revolutionize your processes to make better-informed decisions Automates manual processes to make them more efficient and effective Notifies employees if content is missing so they proactively resolve issues Facilitates your case management requirements Access Access your information wherever you are, however you like Provides staff with instant access to content and information, whether they re in the office or on the road, from almost any device or application including tablets and smartphones Allows employees to access content in OnBase from within familiar applications Improves service levels by extending access to customers and members Financial Services Enterprise ECM ebook 8

9 The six components of OnBase Integrate Easily integrate with your other business applications including any core banking solution Intelligently links documents and data within OnBase to transactions and activities in other applications Reduces training letting employees access documents and information without leaving the applications they rely on daily Increases communication between systems With 3,000 users and an integration to Hanock s all-important FIS core banking system, OnBase is deeply embedded throughout the organization. Scott Watson, vice president and director, Information Services, Hancock Holding Company Measure Assess and report on the health of your business Monitors your process and system performance without involving the IT department Provides real-time access to business data with interactive dashboards Increases visibility into your processes and finances Store Securely store, retain and destroy your documents and information Provides control over all your documents and information Manages security requirements Simplifies and automates retention and management of documentation Now that we ve taken a look at OnBase in general, let s take a closer look at integration. Financial Services Enterprise ECM ebook 9

10 Integration: Tie your systems together to share information Relying on paper to power your processes is an antiquated approach. As financial institutions increasingly depend on technology, it s imperative that their systems communicate and easily share information. No more information silos. And, with the growing number of people using mobile devices to do their banking, customers and members want immediate information, answers and results. If your frontline employees can t access information quickly to provide those answers, you re going to lose those customers and members. With OnBase, we manage reports from our core platform and then turn that data into meaningful information. This capability is really what empowers us to make the best decisions to foster continuous growth. Debbie Starkey, operations manager, First Federal Savings Bank of Elizabethtown Connect your systems to increase communication now and in the future Technology is always evolving, so you need an ECM system that has the ability to adapt and grow with you. That s why OnBase easily integrates with any core banking solution and over 500 different applications without custom coding. It ensures you have an ECM solution that will evolve with you as the pace of business picks up steam even if you decide to switch cores or install new software in the future. That means your organization can be as cutting-edge as your customers and members. OnBase simplifies transitions to any new software, so you can integrate your latest systems. When any process, using any system, is finished, OnBase automatically stores all necessary documentation in its secure, central repository. Then, it updates the applicable lines of business (LOBs) all without any additional work from employees. It s that simple. Financial Services Enterprise ECM ebook 10

11 Integration: Tie your systems together to share information The ability to electronically manage documents and provide a clean audit trail is significant for us. Mark Gregory, CIO, HomeStreet Bank Systems that lack communication slow things down. In an age of increasing digital connectedness, employees grow frustrated when the technologies they rely on can t talk to each other. This lack of communication also negatively affects business relationships outside the organization, like when you re not able to produce documentation to a regulator on a timely basis. OnBase integrations are so seamless, employees retrieve the information they need while staying in the applications and systems they use every day. This gives them more time to accomplish high-value tasks, like helping members and customers. Proactively comply with regulations Instead of shipping and storing paper, your branches scan and index documents into OnBase, further speeding processes and reducing risks associated with regulation compliance. OnBase also automatically notifies the right people when you re missing critical information that proves compliance with local, state and federal regulations. The increased visibility into your documents, information and processes lets you manage your institution with real-time information, giving you the ability to avoid fines or any bad press. With OnBase, your documents and the essential information that surrounds them are secure, auditable, traceable and easily accessible. If that sounds good, you re going to love workflow. Financial Services Enterprise ECM ebook 11

12 Workflow: Connect people and processes with information Many financial institutions are now realizing they need document workflow capabilities beyond what their core banking platforms provide. The right electronic document workflow helps them automate, optimize and connect processes to handle tasks like processing loans quicker and more efficiently. If your employees spend too much time looking for information instead of providing excellent service, it s time to investigate what a robust workflow can do for your organization. Whenever we face process issues, people always say, Let s create a workflow. There s even a workflow for employees to suggest new workflows. Dulcey Peterman, vice president of Document Services, Suncoast Credit Union Connect your employees with documents and information, automatically Once captured and stored electronically in a central database, your employees have instant access to the documents and information they need. More than that, with the right workflow process, you immediately push that information out to employees through automated processes, connecting people through real-time information. OnBase is robust enough to handle any document type or file format. So, in conjunction with workflow, you ensure the right people have immediate access to the right information, decreasing bottlenecks and keeping your processes moving forward. Financial Services Enterprise ECM ebook 12

13 Workflow: Connect people and processes with information Using the OnBase Fraud Case Management solution, we now have analytics as well as the ability for multiple fraud analysts to work cases at the same time. Jason Knapp, senior manager, Operations, Alliant Credit Union Connect your processes to optimize them Workflow optimizes your processes by using a framework of consistent rules that efficiently route electronic documents without manual intervention flagging incomplete or inaccurate work. By presenting users with all related documents simultaneously, workflow also facilitates business transactions. That means employees aren t repeatedly asking for s, searching through file cabinets or waiting for documents. And, with workflows powering your processes, you provide superior service while recognizing profits quicker. Next up, we ll take a look at how OnBase can help at the departmental level. Financial Services Enterprise ECM ebook 13

14 Departmental Solutions: Improve the speed & accuracy of your departmental business processes By capturing documents and information electronically and updating LOBs with real-time data, you decrease operational expenses. You also reduce manual tasks, freeing staff to focus on high-value organizational goals. Following are the key departments where you can speed processes and increase accuracy, ensuring excellent service and swift answers to questions wherever they come from: Account maintenance & 360-degree views Get customer needs right the first time Instantly access information like customer/member IDs, signature cards, credit references and tax returns Ensure your staff has time to provide great service and offer additional products Lending automation Identify incorrect or incomplete information and automatically notify stakeholders Easily process multiple documents at the same time Decrease the costs of shipping, storing and destroying paper Fraud and risk mitigation Increase transparency with instant access to electronic information and processes Utilize automatic document retention and destruction in a secure environment Apply consistent user rights and privileges to increase security Financial Services Enterprise ECM ebook 14

15 Departmental Solutions: Improve the speed & accuracy of your departmental business processes We have 30 to 40 policies that must be reviewed by employees every year, so automated policy tracking greatly improves our ability to get the information to our employees. Jodi Johnson, AVP, assistant compliance officer, WaterStone Bank Compliance and records management Automate document retention to guarantee consistent management and disposition of documents, facilitating easier audits and ensuring compliance with internal and external standards Limit the time and costs involved with regulation compliance and audit preparation Apply consistent user rights and privileges to increase security Service levels Provide fast, accurate answers Create additional sales opportunities through timely customer interactions Set yourself apart from the competition with cutting-edge technology like document management combined with electronic signatures Business operations Empower human resources to hire the best people with automated workflows that speed the hiring process Enable accounts payable to process more invoices in less time and capture vendor discounts Allow accounts receivable to decrease cycle times to lower days sales outstanding (DSO) Next up, we ll see how OnBase easily scales from departments to improve processes enterprise-wide. Financial Services Enterprise ECM ebook 15

16 Across the enterprise: Optimize your entire organization Now that you ve seen how OnBase increases efficiencies and decreases costs departmentally, it s time to take a step back and look at your entire organization. Although it s tailored for departments, OnBase is comprehensive for the enterprise. The unique needs and challenges of each individual department are met with a single solution. OnBase is flexible enough to start in one department and expand as your time, goals and budgets permit or you can implement it across the enterprise immediately. It s all up to you. We chose OnBase because we wanted something that would scale with us, and we needed a dynamic solution that would be easy to maintain. - Wanda Chambers, senior vice president, Suncoast Credit Union With OnBase, you meet your changing needs with one solution, one code base and one vendor. Because it s affordable, easy to configure and user-friendly, OnBase is a financially sustainable solution with a return on investment that emerges almost as quickly as it deploys. While it s great to talk about scalability, we can also talk numbers. How about 1 quadrillion documents in a single OnBase system? It s true. Using OnBase enterprise-wide: Lets your employees focus on work instead of searching for information Gives you a 360-degree view of customer/member information Empowers you to proactively manage regulation compliance and audits Financial Services Enterprise ECM ebook 16

17 For more information, visit OnBase.com/FinancialServices» 2018 Hyland Software, Inc. and its affiliates. All rights reserved