Similar to identity theft, this type of fraud happens when an unauthorized individual gain access through online banking applications, capturing the account information to create and write bad checks.
Account-centric enterprise content management solutions allow users to access account holder information based on their account numbers.
An adverse action notice is a document sent to a loan applicant stating a bank’s rationale for denying a loan. It may also contain a counteroffer, such as a lesser amount or a request for an approved co-borrower.
The term “aging exceptions” refers to a group of critical exceptions that have not been resolved within a reasonable amount of time.
Altered check fraud occurs when a fraudster changes the amounts and Payee from a stolen check.
API is short for “application programming interface.” Technology companies like Alogent rely on APIs to connect multiple software applications, thereby enabling a two-way exchange of information to support users’ needs.
Audit and exam prep is a process that financial institutions go through in order to adequately prepare for upcoming audits and exams.
An authorized signer form is a document that allows an account holder to grant a range of clearance levels to individuals to perform certain functions within a bank account.

Vendor Invoice Management Software

Vendor invoice management software is technology that helps organizations digitize, store, route, and approve invoices from service providers and other third parties. Effectively utilizing invoice management software can unlock efficiencies for accounts payable teams and expedite payments to vendors.

Invoice Management at Financial Institutions

Banks and credit unions employ a variety of digital techniques for managing vendor invoices. Common examples include:

  • Email Attachments: One of the most prevalent (and least efficient) workflows involves routing PDF files as email attachments. Emails can be easily overlooked by team members, leading to delays and oversights. In addition, email-based processes cause the same document to be stored in multiple users’ inboxes.
  • Network Drives: Saving invoices in a unified location on the financial institution’s network drive reduces some confusion compared to email. However, network drives often lack consistency in file naming, which inhibits document classification and utilization. Configuring automated invoice routing workflows may be difficult or impossible.
  • Dedicated Vendor Management Software: A basic web search returns numerous software applications that specialize in vendor and invoice management. Such systems offer comprehensive suites of invoice-related features, such as advanced workflows for complex approval scenarios. Unfortunately, implementing a dedicated platform for vendor invoice management represents an incremental cost that may be difficult to justify.
  • Multi-Purpose ECM Software: Some ECM (enterprise content management) systems, such as FASTdocs from Alogent, offer a mix of document management capabilities to support multiple workflows—including vendor invoices.

Using ECM Software for Vendor Invoice Management

At Alogent, we believe leveraging existing ECM capabilities is usually the best approach for invoice management. For example, users of our FASTdocs system enjoy:

  • Intuitive Document Classification: FASTdocs can automatically identify documents as invoices and extract important metadata, thereby reducing manual data entry and accelerating document classification.
  • Easy Access to Vendor Invoices: Invoices in FASTdocs are organized in a “single view” folder, enabling multiple users to simultaneously access the same document. Using “in process” and “paid” folders offers a straightforward solution for tracking progress.
  • Pre-Configured Workflows: The FASTdocs Workflow Library, a collection of pre-configured workflows, supports basic invoice routing. Mutli-step invoice routing is also possible for cross-department approvals. Automated emails remind approvers to take action in FASTdocs.

Contact us to discuss Alogent’s invoice management solution for banks and credit unions.

Explore more resources

Modern ECM for Financial Compliance

Banks and credit unions today face increasing regulatory demands and operational risks, including GDPR, CCPA, HIPAA, GLBA, and PCI-DSS. This eBook shows how industry leaders are modernizing their approach with advanced enterprise content management solutions...
Read More »

Related articles

Tuesday 16 December 2025

[Playbook] Optimizing Branch & Teller Capture with Real-Time Processing in Unify

Teller line transactions are fast-paced and high-stakes. Financial institutions must provide frontline staff with tools that reduce depositor wait times and enforce business rules in…

Read the Blog

Monday 15 December 2025

Instant Payments Explained: What Banks and Credit Unions Need to Know About FedNow and RTP – Part 2

In Part 1 of our Q&A series, Doug Hendricks, Senior Product Manager for Payments at Alogent, explored the fundamentals of instant payments and shared adoption…

Read the Blog

Tuesday 9 December 2025

Instant Payments Explained: What Banks and Credit Unions Need to Know About FedNow and RTP – Part 1

Instant payments are reshaping the way transactions are initiated, processed, and settled. As FedNow and RTP gain traction, faster payments are quickly becoming an industry…

Read the Blog

Monday 8 December 2025

[Playbook] Using Flex Fields in AccuAccount

Here’s the situation: Your financial institution uses AccuAccount to manage credit, loan, deposit, and trust documents. Connecting AccuAccount to your core has streamlined many post-booking…

Read the Blog

Thursday 4 December 2025

Driving Innovation with AI: Empowering Banks and Credit Unions with AI-Powered Document Classification to Streamline Operations and Ensure Compliance

While generative AI headlines often dominate the conversation, financial institutions are increasingly investing in more practical applications: integrated smart features that support day-to-day operations. Artificial…

Read the Blog

Monday 1 December 2025

[Playbook] Building Custom Reports in AccuAccount

Here’s the situation: Your financial institution manages documents and exceptions in AccuAccount, Alogent’s ECM solution that’s optimized for commercial lending.

Read the Blog

Tuesday 25 November 2025

Checks, Digital Payments, and Fraud: What Bank and Credit Union Executives Need to Know This Holiday Season

Black Friday marks the unofficial start of holiday shopping, and with it comes a surge in payment activity for banks and credit unions. While digital…

Read the Blog

Monday 24 November 2025

Why Check Fraud Costs Banks and Credit Unions Millions—and 8 Reasons to Invest in Prevention Today

Check fraud remains one of the most persistent and costly forms of payment fraud. For banks and credit unions, delaying investment in a modern fraud…

Read the Blog