Document Management Banking- How It Works.Document Management Banking can help banks all over get rid of the excess paper and move toward a paperless bank. There should be a way to capture the document, through placing the file in an organized manner. The documents can be put into the computer through either downloads or using a scanner hopefully one that has optical character recognition technology, otherwise known as OCR, now you know what that stands for. There is software available out there to help you with all of this. It can manage your documents in a way that is simple and concise. Software can have automated ways of capturing documents which in turn work with the document management system that will index the documents that are captured for easy access. Seems easy right, well for you it is. The computer software does all the work for you. With the delivery and distribution of the documents, you used to have to have your paper documents sent back and forth through your slow company mail system, which is still around for the most part. There is an easier way with doing it electronically is getting more and more popular, it is faster and there is no way to lose the documents because they are backed up somewhere. You can do it either through company emails or the intranet. More and more companies are not only going to email within the company but also going to emails to other companies and trading partners. The banking industry is using this type thing for financial transactions, the Automated Clearing House (ACH) and Financial-EDI. Electronic document transferring is a cost saving way to run a business. As for the ACH payments have reduced per-payment costs that ran more than $2.00, down to just pennies. You do not have to do costs, there is no handling, you do not need extra personnel costs. You are also saving on mail fees. If you mailed 10,000 documents, you would be paying $8,000 dollars. Wow I know! But if you email that same document it is only going to cost you nearly nothing. Consider a business like a bank as an assembly line, things have a certain order to make the system to work out properly. This is the work flow, with email and document management, banks can now do this in a better more affordable way, that moves much faster. Some systems have a human routing system where the decisions and judgments are made by a person, which is slower. In other system there is a step by step that the program goes through to route the document correctly. Now you need to store the documents that you have catalogued into the computer in a way that they can be found and used easily and quickly. You do not want to have to spend hours searching for something you need to have it within easy access. This process should be as uncomplicated as possible. You do not want to have to spend a week training a new person on just this system that is not very cost effective. Neither is your workers spending time looking for something that should be easy to find. You need to have all the data and documents centralized where everyone knows how to find them and how to go get them. The problem you come across now is that it has become too complex, you need to simplify the system if you want people to use it readily. |