Document capture refers to the process of gathering documents into a standardized format, such as in an electronic content management system. Some financial institutions use the phrase “document capture” interchangeably with document imaging, but document capture relates specifically to the document collection phase of the imaging process.
Document-centric ECM solutions store content and make it accessible specific to the document category.
In banking, document classification typically refers to the process of organizing information into logical categories. Classifying by document type (i.e., loan agreements, insurance documents, vendor invoices, etc.) is especially beneficial for financial institutions.
Document collection is the process that organizations go through to obtain information from other parties. Banks and credit unions collect many documents from a variety of stakeholders—and for a variety of reasons. Implementing sound document collection practices is a key step for ensuring accurate recordkeeping, enabling efficient operations, and avoiding risk.
Document collection software is used by financial institutions to electronically collect documents from customers.
Financial institutions must efficiently collect, organize, retain, and discard a large volume and variety of documents.
Document exchange is the secure, two-way sharing of documents and information between a financial institution and account holders, borrowers, employees, or third parties to support efficient communication and business processes.
Document imaging software organizes, stores, and retrieves documents. The data managed by a document imaging system could reside on an in-house or cloud-based server.
A document imaging technician ensures the timely and accurate scanning and indexing of paperwork into the organization’s document management software.
A document imaging workflow consists of a series of steps that are necessary to organize documentation into an electronic environment.
Document indexing involves saving information in a consistent and logical fashion.
Document indexing software is a computer program or application that assists with storing, organizing, and recalling documents.