Many organizations are hesitant to move beyond document-centric processes. Once they analyze those processes, they realize too many documents take up space, cause errors and slow procedures.
For DFCU Financial, the multiple technologies it deployed for document and records management were no longer serving its business needs. After an extensive vendor selection, with a unanimous vote from the selection board, the credit union chose OnBase, Hyland's enterprise content management (ECM) solution.
"Since we have been on our existing archive for over 17 years, we still organize information in ways that made sense with older versions of storage hardware. That, combined with poor legacy index design, too many or too few index values, and unrealistic retention policies - like tagging most documents for 'permanent' retention, added up to big challenges in retrieval and records management," said Elizabeth Hershey, vice president, delivery channel support at DFCU Financial.
"DFCU knew its challenge wasn't just with documents but also included the multiple sources of content outside the typical document category, including signature cards, reports, emails and retention alerts for documents," said Michelle Shapiro, Hyland's financial service marketing manager. "ECM will become a critical part of credit union's business strategy to increase efficiency, manage information and improve member service," Shapiro said.
DFCU is taking a phased approach to its OnBase implementation. The first phase will consist of converting its legacy system to OnBase, and integrating OnBase with its Open Solutions core platform.
"The second stage is really the most exciting for us because it's the part that will have a direct impact our members, efficiency goals, and bottom line," Hershey said. During this phase DFCU will implement e-receipts, decentralized scanning, e-signatures and auto indexing. It will expand its e-fax solution and create a portal for members to get into the OnBase archive and access to their information. "Most importantly we're automating processes with workflow. This will unlock a lot of value in accounts payable, cash areas, and ind internal processes from Lotus Notes including fulfillment requests and document heavy processes," Hershey said.