Are You a Document Imaging Optimizer?

Picture this: Last year your financial institution performed a document imaging maturity assessment, which revealed your status as an imaging newbie. Since then, your team has embarked on a 12-month improvement plan that culminated with the implementation of an ECM system. Document management already seems more efficient, but you believe there’s room for additional growth. Let’s explore ideas to unlock even more value through imaging.

Signs You’re a “Document Imaging Optimizer”

Optimizers have moved beyond the “traditional” challenges of document imaging, such as dealing with messy information environments that are riddled with shadow files. That means there’s more time to focus on initiatives that lead to:

Fewer silos: Day-forwarded scanning is a smart practice, but this approach fails to address documents that already exist in records rooms and off-site storage locations. Optimizers maintain a day-forward mentality while simultaneously digitizing and indexing existing content, thereby reducing information silos.

Enhanced management and reporting: Spreadsheets are still common for tracking exceptions, such as missing and expired documents. Software like AccuAccount reduces the need to maintain separate tracking processes, which streamlines exception management and reporting.

Automated (or semi-automated) processes: Leveraging built-in workflow automation capabilities in a system like FASTdocs frees up staff to focus on higher priority projects. Retention rules, automated document routing, and customizable workflows support compliance with less manual effort.

Increased user engagement: An intuitive ECM system empowers management, lenders, retail, and operations teams to do their best work. People know where to look for information, which means fewer delays and greater buy-in from staff.

Your Next Goal: Becoming an “Imaging Leader”

Optimizing inefficient processes is an ongoing endeavor—but there’s an even loftier goal: becoming an “imaging leader.” Stay tuned for our next blog article that will dive into the characteristics of imaging leaders. In the meantime, be sure to familiarize yourself with these important concepts:

OCR: Optical character recognition, which is especially useful for document classification.

API: Application programming interface, a type of technology that makes it easier to connect multiple banking systems.

AI: Artificial intelligence, which further accelerates document classification.

Self-Service: A strategy for allowing account holders to electronically access information without assistance from a financial institution’s employees.

Contact Alogent for a demo of our document imaging software. 

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