Business Services Industry
Industry Analysis Confirms Hyland Software ECM Solution Improves Top 15 Bank's Performance; Global Concepts Report Affirms 26% Increase in Productivity, 17% Reduction in Unit Cost, 84% Increase in Service Quality
Business Wire, June 1, 2006
CLEVELAND -- Hyland Software Inc., developer of the OnBase(R) enterprise content management (ECM) software suite, significantly improved the 2005 account reconciliation processing (ARP) performance of a Fortune 500 Top 15 bank, according to Global Concepts, an industry leading payments consulting firm.
The three variables considered in the analysis include: productivity, unit cost and service quality. The participant bank needed an ECM solution to unify and leverage multiple legacy systems to eliminate manual, repetitive processes previously required to decision and correct ARP exceptions.
The bank considerably improved its ARP operations between 2004 and 2005 in terms of productivity, unit cost and service quality. The analysis of the bank's performance improvements clearly demonstrates the extent to which an automated and streamlined ECM solution can increase overall bank productivity and create distinctive ARP and Positive Pay treasury products for corporate clients, providing the bank with a competitive advantage.
With OnBase, the bank experienced a 26 percent increase in productivity, a 17 percent reduction in unit cost and an 84 percent increase in service quality.
"Many bank processes are still manual in nature and utilize a number of disparate legacy systems," said Jason King, director of Financial Services for Hyland Software. "ECM is an ideal solution for banks interested in further automating business processes and extending and leveraging the capabilities of legacy systems in order to realize increased efficiencies and strengthen compliance across the enterprise."
Editor's Notes:
AIIM, the enterprise content management (ECM) association (www.aiim.org), defines ECM as the technology used to capture, manage, store, preserve, and deliver content and documents related to organizational processes.
Please go to http://Media.OnBase.Com/Global_Concepts.pdf for a copy of the Global Concepts Analysis.
About Global Concepts
Global Concepts (www.global-concepts.com) is a premier management consulting firm intently focused on payment systems. The principals of Global Concepts have been at the forefront of payment systems development and improvement for more than 30 years. Our unique industry knowledge spans every payment system: from cash to emerging electronic payment technologies, from paper checks to inter-bank wires. Global Concepts focuses on operational improvements, product development, market research, peer-institution benchmarks and comparisons, syndicated research-based discussion programs, and sound advice that is unmatched in the payment systems and financial services industries.
About Hyland Software Inc.
Hyland Software Inc., established in 1991, is the developer of OnBase, rapidly deployable enterprise content management (ECM) software. Hyland develops OnBase, enterprise-class software that combines workflow, integrated document management, records and information management in a single application. OnBase allows organizations to manage all digital content, including scanned paper documents, faxes, print streams, application files, electronic forms (E-forms), Web content, multi-media files and e-mails. OnBase is used by businesses and government agencies around the world to reduce the time and cost of performing important business functions and address the need for regulatory compliance through the management, control and sharing of digital content with employees, business partners, customers and other constituencies. For more information about OnBase please contact an OnBase Authorized Solution Provider or visit www.onbase.com.
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