Menu
close
Approximately 60% of the average employee’s day is spent working on an organization’s records and documents. How much of that time is truly productive and how much of it is wasted? When dealing with content creation, storage, archiving, distribution, and transfer throughout an enterprise, there are often significant areas for improvement. A cloud-based consolidation and distribution center can vastly reduce the amount of time employees need to spend on document management while also improving business outcomes and customer service.
Boosting Productivity and Reducing Time to Market
With the majority of employee time being spent on document management, there are many opportunities to boost productivity and efficiency. Moving to the cloud allows an organization to take advantage of superior resources and an always accessible platform, both of which drive innovation and make it faster and easier for employees to process their documents effectively. Employees will be able to connect and collaborate from anywhere in the world, and thus they can quickly complete products and reduce the organization’s time to market. The enterprise content management (ECM) market is growing faster than the overall software market, as more organizations find that improving their ECM is one of the fastest ways to reduce project time and boost productivity. Time to market can be extraordinarily important for many organizations, especially those with close competition. Through cloud ECM, organizations can remain competitive with other businesses as they, too, invest in newer technologies.
Increased Reliability, Scalability, and Elasticity
Reliability is a key component of success. Up to 27% of businesses have suffered a loss of reputation due to poor document management. This affects customer retention, customer acquisition, and word-of-mouth advertising.
Cloud-based ECM gains all of the traditional benefits of the cloud. Cloud ECM can offer greater uptime than on-premises solutions, it can scale upwards through the deployment of additional resources, and has the elasticity to deploy resources on-the-fly to compensate for sudden or unexpected intervals of increased usage. All of this amounts to better service for customers and a far more productive and efficient environment for employees. Elasticity has the additional benefit of ensuring that the service is reliable and that organizations don’t need to pay for resources when they don’t need them. Scalability prevents an organization from being forced to invest too much in their infrastructure before they truly need it.
Lower Cost of Deployment and Ownership
By far the biggest driver of cloud-based enterprise content management is cost. When polling organizations, 38% reported that they were interested in cloud-based ECM for the purposes of cost reduction, compared to running their ECM solutions from on-premises servers. Deploying an ECM system on-premises means investing heavily in network infrastructure and physical assets, whereas a cloud-based ECM platform can be quickly deployed and scaled to suit the organization’s budget and needs. ECM deployments may contain as little or as much of an organization’s documents as desired and the costs are fluid; they can be reduced if the organization’s need is reduced. On premise servers and infrastructure often need to be upgraded to compensate for company growth and older equipment. This isn’t necessary with cloud-based ECM deployments, which simply requisition and provision resources as needed.
Integration With Business Process Management
Business process management (BPM) and enterprise content management need to work together for the best business outcomes. For most businesses, their documents are their processes.
Integrating BPM and ECM allows for fewer bottlenecks, improved overall efficiency, increased visibility, improved responsiveness, and fewer human errors. Cloud-based solutions can be easily and quickly integrated with each other for full support and consolidation. Many modern organizations are moving their entire infrastructure to the cloud, including BPM, ERP and CRM systems, and, of course, ECM. By managing and maintaining all of these components through the cloud, an organization can create an always-on completely connected and consolidated network.
BPM and ECM solutions can also be used to reduce liability and improve regulatory compliance, as they create a complete audit trail for documents and procedures, ensuring that the organization always has records for the work completed and the details of that work.
Universal Accessibility and Improved Collaboration
Cloud platforms can be used to effectively connect offices from city to city or nation to nation. Not only can organizations leverage the power of a global office, but they can also empower employees with the flexibility to set their own hours or work from home. Flexible work schedules aid in courting top talent, sourcing affordable talent, and keeping employees happy and productive. Cloud-based systems can be accessed from anywhere in the world and are “always on,” allowing for improved collaboration and the support of multiple time zones and regions.
Through a cloud-based ECM, an organization can freely grow throughout the globe. And by integrating a cloud-based ECM with other cloud-based solutions, better collaboration can be achieved throughout business processes. Cloud-based solutions can work on virtually any platform and generally only need a browser to connect to, freeing up employees to work from anywhere and to work on multiple devices. On-premises ECM applications can cost $1 million or more, with $200,000 or more being invested in hardware alone. Not only do cloud-based ERP solutions have a lower cost of deployment and maintenance, but they can significantly improve productivity and efficiency by creating an always-on solution through which employees can effectively collaborate and share.
Document management is a core business process that has to be effectively streamlined and managed for the overall productivity of a business. Through cloud-based enterprise content management solutions, an organization can improve the efficiency of every level of their business operations, accelerating speed to market and their customer happiness.
For additional information contact sales@identifi.net
We're very proud Identifi has surpassed a new milestone, celebrating 29 years in business this March, 7th, 2017. The key word is new. New name, d.b.a., Identifi. New website, franprocess.wpengine.com. New Online eSign product that beats DocuSign hands down, and integrates with our new Work (workflow) product, available now in v4.5 and with our new 5.0 release of Identifi coming soon. I guess you could say we are 29 years young!
On January 1, 2017, the world changed for credit unions. At least for credit unions serious about Business Banking. In place of a fixed percentage of assets, a cap based on net worth (in other words, tied to the credit union’s ability to absorb lending risk) was implemented. Prior to January 1, NCUA waiver delays resulted in the loss of many good loan deals (and sometimes business clients). In place of the waivers, credit unions now must have sound lending policies, and are judged on how well they follow their policies.
The new NCUA rules create tremendous growth opportunities for credit unions. The best small business clients can contribute 5-10 times the profitability of an individual consumer, and business clients expect to pay extra for time savings and banking advice. However, their decision criteria for selecting a banking partner is different, and requires a radical change in how credit unions think about their service and pricing models. As regulations started to loosen in the late 1990s, credit unions with excess lending capacity saw business loans as a vehicle to produce better returns than they were getting with traditional investments. However, because of the lengthy delays in approvals, and lack of competitive deposit products and merchant services, some credit unions became the “lender of last resort” and many sizeable portfolios were written down or written off altogether when these less desirable, single product borrowers defaulted.
Traditionally, credit union business banking programs have focused primarily on the lending side, but deposits and merchant services account for nearly 80% of small business banking profits, vs only 22% for loans (see chart, Oliver Wyman, 2011). Rates and fee pricing are lower priorities for businesses than having tools to accept payments, access to working capital, ease of making ACH and wire payments, and sound banking advice.
To build a solid, profitable, and sustainable business banking offering, credit unions need to employ people, process, and technology along with competitive products.
Experienced Business Bankers- Forbes describes a small business as “one that does not have a CFO”. This role often belongs to the business owner. A key part of the value of the banking relationship is the ability to get solid financial advice. That takes experienced business bankers. Not just lenders, but staff with experience in deposits, payments, and operations.
Commercial Deposits- Business customers have used community banks or larger banks in the past, and expect a broad variety of deposit offerings. Along with traditional checking, savings, and IRA accounts, they expect their banking partner to offer limits and controls on who can transact business with the CU on behalf of the business client, based on their role with the firm. Banks have offered automated sweeping of excess balances from operating accounts to high-yield accounts for over 20 years. Positive pay (a feature that allows the business to view and approve their checks before they are paid) can help them avoid check fraud losses. And analysis accounts that reward the business client for the overall relationship help attract and retain the most profitable business clients.
Business Services- The most important banking function for many businesses is enabling them to take payments for their products and services. Roughly 30% of small business banking profits are from payments-merchant card payment processing and remote capture and transmission of check images.
Business Online Banking/Mobile/Cash Management- The most valuable commodity for a business owner is time. The right set of capabilities can save your business clients valuable time transacting their banking business, and neutralize the huge brick and mortar advantages of the big banks. Most banks now put the ability to send wires and ACH originations and payments, pay bills and control card limits in their business client’s home office or even in the palm of their hand.
Commercial Lending- Along with more traditional forms of business credit such as term loans, business credit cards and vehicle loans, many businesses need more sophisticated lending products. SBA loans create great value for both clients and the lender, allowing businesses the capital they need to grow and expand, with government guarantees protecting the lender if they default. Loans with variable payment schedules tied to seasonal cash flows, flexible collateral arrangements and commercial construction loans allow the credit union to serve as a “one stop shop” for most of their business clients.
Security- Small businesses are frequently the target of fraud, sometime from their own employees. They expect a banking partner that has the expertise and technology to protect them from cyberattacks, check and payments fraud, and embezzlement.
And finally, speed. Efficient processes and tools for application processing, credit review and funding will help you offer business clients the same amazing service experience credit unions are known for with their consumer members.
Even after credit unions hire experienced business bankers and set up policies and processes, technology often becomes the primary barrier to success. Most credit unions run on core processing systems designed in the 1980s, long before credit unions were allowed to offer business banking. Many offer online banking platforms that serve the needs of consumers well, but lack essential cash management and business functionality.
Credit union IT teams and traditional credit union technology vendors often lack familiarity with business banking, banking regulations and the third-party systems that help serve business banking operations, and their business clients. Choosing the right solutions that will integrate with your current environment and fit your budget can be difficult and risky. A detailed strategy with clear requirements, budgets and timelines will go a long way toward mitigating the risks involved in complex technology decisions.
Enlisting outside advisors with experience in helping credit unions develop and execute the right technology strategy to enable their business services program can go a long way towards minimizing the risk and disruption of a complex technology selection and deployment.
At Arriba Advisors, our partners have over 25 years combined experience in assessing the business banking technology needs of credit unions, and helping them evaluate, select and contract for the right technologies at the right cost of ownership. Feel free to contact us for a free business banking technology market overview.
George McGourty- Originally from Boston and based in Tampa, George has spent his entire 30-year career helping financial institutions evaluate, select, and implement enterprise technologies. He has held senior sales and executive leadership positions with Fiserv, FIS, CSI, Deluxe and Open Solutions as well as co-founding an IT services firm that was later acquired by a Fortune 1000 technology company.
George co-founded Arriba Advisors to help community financial institutions understand and evaluate their technology options, and gain the most value from their technology investments. He is an accomplished negotiator, having personally negotiated over 1,000 technology and services contracts while sitting on the vendor side of the table.
Tom Russell- A native of Miami, Florida, Tom has spent the past twenty years helping financial institutions navigate complex technology and professional services decisions to create efficiencies and gain competitive advantage. Tom has held senior sales roles at TWS Systems, Open Solutions, and Fiserv, managing complex enterprise sales valued up to $25M.
In his role as co-founder and partner at Arriba Advisors, Tom helps our clients understand the technology options available in the market, and how to match their needs and budget to secure the right solution at the right cost of ownership, while identifying and managing the risks inherent in a complex technology purchase.
Fun times at the The Florida Aquarium. Great food and libations were on hand while Identifi employees, spouses, friends and SO's enjoyed the exhibits. It is a 250,000-square-foot aquarium . We owned the place for the evening. From river otters to sharks, there are more than 20,000 aquatic animals and plants at the Aquarium.
Integra Business Systems, Inc. d.b.a. Identifi, is the developer of the iDentifi Enterprise Content Management (document imaging) software. We offer a paperless environment to include desktop and online e-sign, e-receipt for teller, document tracking, scan, workflow, analytics and report archival in an on-premise or hosted (SaaS) environment. Identifi is integrated with your primary business processes for easy access and elimination of duplicate work. We are cross browser and mobile ready.
The technology business past, present and future is pretty much a wild ride. Every day we strive to reinvent ourselves. Founded in 1988, Integra Business Systems, Inc., d.b.a. Identifi, celebrated 28 years in business March 2016. To put things into perspective, in 1988 gas was .91 per gallon.
History is such a great teacher, and it has taught us at Identifi, you are the reason we are still here. The secret sauce to being successful is you, our customers, partners, vendors and employees, alike.
Through all the transitions in products and technology, our customers and partners have needed great products and services. We’ve provided it.
To be successful in the technology business, we have to continue to invest heavily in, what we like to call, “intellectual property," a.k.a., Identifi employees.
Our mission is to connect people with technology. We must embrace the constant evolution in technology and in our lives, to make our employees, our partners and our customer’s lives simpler, more productive, and more fulfilling.
We’ve always prided ourselves in providing great products and service. Now we need to take it to the next level, to connect you with the people you interact with every day.
In an increasingly commoditized environment, the risks of the consumer being bombarded with more competitive choices will increase. Creating loyalty through innovation (partnerships) will become more important. Identifi is and has been successful in forming partnerships which will be critical to enable "connected" anything.
Many businesses are saddled with legacy document imaging systems a.k.a., Enterprise Content Management (ECM) technology. Sooner or later companies with legacy ECM systems will have to bite the bullet. We are well positioned to convert and upgrade legacy ECM products to the latest web-based technology.
We know we have to make our technology simple. How do we do that? We have to keep pace with Mobile and the Cloud technology. We do that by using the latest browser based development technology. We build products that employ Responsive Design.
Identifi can connect you and your customers on any device, in all areas of your business, so you can be more productive, for you and your customers.
Our vision is to build products that make your life simpler. We believe we can improve the way you do business and the way your customers connect. We do that by focusing on helping people work together and incorporate the latest technology to make that possible. We are busy inventing the future of collaboration software. Join us. Welcome to Identifi 5.0.
Safety Harbor, FL -- (Feb 26, 2015) - Integra today announced it has attained Gold Certified Partner status in the Microsoft Partner Program with a competency in Application Development, recognizing Integra's expertise and impact in the technology marketplace. As a Gold Certified Partner, Integra has demonstrated expertise with Microsoft technologies and a proven ability to meet customers' needs. Microsoft Gold Certified Partners receive a rich set of benefits, including access, training and support, giving them a competitive advantage in the channel.
Microsoft Competencies are designed to help differentiate a partner's capabilities with specific Microsoft technologies to customers looking for a particular type of solution. Each Competency has a unique set of requirements and benefits, formulated to accurately represent the specific skills and services that partners bring to the technology industry. Within select Competencies, there are Specializations that focus on specific solution areas that recognize deeper expertise within that Competency. Serving as a specialized path to earning those Competencies, Specializations give direct access to the tools and resources that support that specific area of focus.
Integra's iDentifi.Net product was tested and approved by Microsoft in February. The company achieved its Application Development Competency by meeting testing requirements for its software, its operating system, and other components – and by receiving the required number of customer references.
As an ISV, an application development competency allows Integra access to all of Microsoft’s server platforms to enable seamless integration with those products.
"Customers are looking for partner companies they can trust to build a positive customer experience with the platforms they depend on,” said Aaron Stine, Senior Vice President of Development and Professional Services at Integra. “As a Gold Certified Partner, Integra has demonstrated its expertise in providing customer satisfaction using Microsoft products and technology."
About Integra Business Systems, Inc.
Integra is a software development company that produces document imaging, management and workflow with 20 years experience in the financial services, real estate and other industries. The iDentifi product line delivers a wide range of features for scanning, storing, coding, tracking, finding and viewing documents throughout the enterprise. Modular solutions include storage and management of all document types, workflow, enterprise report management (COLD), electronic signatures, signature and photo ID verification, document version control, document retention policies and document on and off line archival. For more information visit www.franprocess.wpengine.com.
The People’s Credit Union is a community credit union that has served the people of Rhode Island since 1922. Located in Rhode Island, Peoples has six branch locations. Each branch uses iDentifi.eSign to capture electronic signatures for transactions, new accounts and account maintenance. The Credit Union uses iDentifi.eReceipt for electronic transaction processing, iDentifi.Trak for monitoring required documents and iDentifi workflows for efficient and streamlined verification and quality control.
The Credit Union uses Pax units for eSign processing on the teller line and Topaz units for new account processing. Currently, electronic signatures are used for all over-the-counter teller transactions as well as all deposit related documents, such as, new consumer and business account signature cards, safe deposit box agreements, account maintenance forms, IRA administration documents, ATM/Debit Card agreements and so much more.
The eSign functionality has brought many benefits to the Credit Union including increased operational efficiency, stronger controls and security, enhanced member service and a decrease in our operational tasks and costs.
Tellers are able to process transactions faster, with minimal paper to clutter their teller stations. Documents are automatically uploaded to the iDentifi web system reducing the possibility of getting misplaced while complementing our clean desk policy.
Teller and new account staff now have instant access to member and account documents and our research requests are now completed in just a few minutes whereas before, staff had to wait (sometimes days) while operations staff sifted through paper files that were locked in vaults and file cabinets.
In addition, now that we have streamlined operations and eliminated the need for filing paper documents, the Credit Union is able to take on more strategic projects without having to hire new staff to support these goals. Bethany Cottrell, Core Systems Manager, People's Credit Union
The eReceipt functionality enables the Credit Union to process member transactions quickly, securely and efficiently. Electronic receipts are automatically stored to the iDentifi web system. If a member needs a copy, tellers can quickly and easily pull and print copies of receipts. Receipts processed through the drive-up include a barcode and are quickly and easily scanned into document storage as part of the tellers everyday process. The eReceipt module is easily customizable which allowed the Credit Union to choose which transactions require an eReceipt and which do not.
The iDentifi system provided the Credit Union with customizable and easy to use security and retention tools. Access has been limited to only those individuals that have a business need, including auditors who may need access to very specific documents for auditing purposes. In addition, People’s has set very detailed retention schedules eliminating the need to manually track documents that need to be securely destroyed.
The People’s Credit Union also utilizes iDentifi workflows for both quality control purposes and approvals of any scanned loan documents and deposit related eSign documents. Documents are automatically placed in the beginning stage of the work flow. Operational staff are able to easily move documents throughout each step of the workflow process until all documents are completed and approved. Users use the sticky note feature to notate any comments or approvals.
iDentifi.Trak is the newest module that the Credit Union has added to its processes. iDentifi.Trak allows the Credit Union to monitor specific documents to ensure they have been loaded into the iDentifi system. Our operations staff use the robust reporting that is included in the iDentifi.Trak system to monitor pending items and exceptions. On a regular basis, the iDentifi system looks to see if any missing documents have been added to the system to automatically clear out any exceptions.
Over the next year or so, People's Credit Union hopes to expand eSign to all loan related documents. This will be the last accomplishment in our goal of converting to a paperless environment.
The iDentifi.Net ECM Suite from Integra Business Systems, Inc. provides document management solutions addressing today’s challenging needs for ROI, secure storage of documents and information; while aiding you with regulatory and compliance issues.
We couldn't do it without you! We're celebrating the Holidays with Santa, as another successful year, 2014 comes to a close. We are reminded once again, our greatest achievement is the relationships we have developed over the years with you, our customers, our partners, our employees and our friends, of which most are synonymous. Thank you!
Please enjoy a relaxing, peaceful and safe holiday season and don't forget to celebrate like Santa!
Seasons Greetings from Integra Business Systems, Inc.