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Over the past few weeks, several folks from Zia Consulting attended two ASUG events – Denver, Colorado and Palm Beach, Florida. As a dedicated SAP professional and vendor of an industry leading Certified SAP Archiving Solution Appliance , it was great to get updates on the latest industry trends. Additionally, the ability to network with like-minded individuals provided valuable insights to more closely align with other professionals on SAP archiving strategies for both ECC and S/4HANA. Right from the start, the energy at the event was palpable. The venue buzzed with activity as attendees from various sectors and professionals within the SAP ...
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Dear AIIM Community, We just released a brand new version of our IDP software suite. IDA 5.2 is out now! What's new with IDA 5.2? LLM-based Extraction: Extract data from unstructed documents simply by using prompts. Plug-and-play Recognition SDK: Enhance your data capture by using unmatched OCR/ICR. Redaction: Protect sensitive and confidential information. Image Normalization: Minimize your file size for efficient processing and archiving. About IDA The IDA software suite offers comprehensive capabilities for customers with the common desire for short time-to-value automation and high-quality data ...
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Efficient document and information management is increasingly important for modern financial institutions. Paper documents, siloed information, and outdated technology create operational bottlenecks that can be difficult and costly to solve. But, with so many other initiatives going on at your bank or credit union, identifying and implementing a new solution can seem overwhelming. At Alogent, we provide technology to help banks and credit unions overcome challenges that impact productivity, growth, and financial performance. Our process automation suite of solutions , FASTdocs and AccuAccount , are two great options for financial institutions looking ...
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Legal departments are driving the demand to delete emails in most organizations. What’s behind their desire to get rid of everything? Email management is a constant tug-of-war between legal and compliance stakeholders and those working within specific business units. The former wants to delete nearly everything, while the latter would prefer hanging on to every last thread and attachment. While having a comprehensive archive of previous clients, vendors, and internal communications can be a useful resource, it’s simply not worth the risk for your colleagues standing guard against potential liabilities. To better understand their perspective, let’s dig ...
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Large quantities of paper documents arrive daily at financial institutions. Despite the shift to digital, banks and credit unions still need a scalable way to manage the seemingly constant flow of financial statements, tax returns, insurance documents, and other information. Many financial institutions have already adopted document management systems, yet some still struggle to overcome recordkeeping headaches. To enable efficient loan document management, banks and credit unions should implement solutions that eliminate bottlenecks and drive greater adoption from stakeholders. At Alogent, we’re continually looking for ways to empower customers and drive increased ...
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Document imaging technology is a key component to an enterprise content and information management (ECM / EIM) strategy, enabling multiple efficiencies for your bank or credit union. For starters, digitized documents are typically more accessible and enable faster reporting than paper files, allowing staff to do their jobs quicker with less frustration, and to deliver better customer and member services. Once imaged, electronic files can be easily backed up to a server, reducing the risk of information loss of the physical document. Similarly, a virtually limitless number of electronic documents can alternatively be stored in the cloud , allowing scalability ...
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In today’s digital-first banking world, depositing a check, monitoring account balances, and managing finances are all possible from the comfort of your home, but what happens when an account record is missing a piece of collateral , or an identity document is nearing expiration? The same level of transaction flexibility that digital and remote banking solutions offer can also be extended to your enterprise content and information management solution (ECM / EIM) - where customers and members can securely exchange information and documents outside of branch hours and from their personal devices. As the cornerstone of your institution’s data management ...
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Here’s the situation: Your financial institution uses AccuAccount to manage its documents and related exception data. In addition, you recently began using AccuAccount for task management , which has led to increased transparency and productivity. Now you’re looking to drive additional efficiency through automated task delegation. Using task groups in AccuAccount might be the perfect solution. A task group is a predefined list of tasks that can be applied to multiple situations. Banks and credit unions can use task groups to streamline task delegation for appraisal reviews, loan payoffs, foreclosures, loan participations, and other workflows. ...
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Does your financial institution need a better way to manage its commercial loan documents and related exceptions? Perhaps you’ve looked at our AccuAccount product, but you still have some questions. You’ve come to the right place! Below are ten questions that we are frequently asked by VP Loan Managers and others with similar job titles. 1. Can we distribute reports via email on our preferred schedule? Yes, standard reports in AccuAccount can be configured to go out automatically based on a predefined schedule. We also offer Dynamic Reporting for AccuAccount, which enables users to build custom reports and view them from their dashboards. Both ...
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Document management is often considered a “back-office” function that minimally impacts a financial institution’s key business objectives. In reality, streamlined document management can play a key role in driving operational efficiency and fostering healthier relationships with customers, members, auditors, and examiners. Alogent’s webinar, Instantly Find, View, and Share Documents with AccuAccount , explored how to leverage effective document management to engage multiple stakeholders. Let’s take a closer look. Commercial Lending Customers Here’s the situation: John needs a line of credit to acquire a new piece of equipment for his business. It’s ...
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Here’s the situation: Your financial institution is growing—more branches, more team members, more loan and account holders, and more follow-up. To keep pace with this complexity, you need a flexible, reliable way to assign, track, and manage tasks. In the past, employees have managed their own to-do lists with handwritten notes, spreadsheets, and email inboxes. However, this approach is difficult to scale and offers minimal accountability. Centralizing your task management in AccuAccount can enable a more efficient workflow for contacting customers, inspecting inventory, ordering appraisals, coordinating loan documentation, and numerous other to-dos. ...
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In the fast-paced world of Intelligent Document Processing (IDP), staying ahead of the curve is no small feat. We are proud to announce that Rossum has been named as a Leader in the IDC MarketScape: Worldwide Intelligent Document Processing (IDP) Software 2023-2024 Vendor Assessment (doc #US49988723, November 2023). Who is IDC? The International Data Corporation (IDC) is a globally respected market research firm renowned for its deep insights into technology and industry analysis. Their acknowledgment is highly esteemed in the IDP sector, as it represents an independent, expert assessment of our company’s leadership and excellence in the field of Intelligent ...
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Unique Features of M-Files Intelligent Document Management Zia Consulting works with M-Files , a global leader in information management, to bring their clients an innovative, streamlined, and metadata driven document management platform. This allows customers to easily find, share, manage, and secure documents and information. Their easy-to-use content repository provides a cohesive and unified way to create workflows that automate processes like contract management, invoice management, Standard Operating Procedures (SOPs), and quality documents. All of the main functionality can be found on one screen, further reducing confusion in this user friendly ...
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Proactively dealing with missing and expiring documents is a key component of an effective exception management strategy. However, that’s easier said than done when your financial institution manages hundreds of customers or members, thousands of pages of documentation, and a seemingly infinite number of document schedules. This article shares two “plays” to resolve exceptions for documents that must be collected on an ongoing basis, such as customer or member financial statements, tax returns, certificates of good standing, operating agreements, UCCs, rent rolls, and insurance documents. Play #1: Creating “document placeholders” for missing documents Collecting ...
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Financial institutions use the phrase “ cold storage ” to describe technology for managing core-generated reports, statements, notices, images, and other documents. Front-line and back-office staff rely on cold storage to access a variety of information, including loan and account statements, teller transactions, and images of cashed checks. Let’s take a closer look at cold storage and explore how financial institutions can streamline their workflows with FASTdocs from Alogent. Two Common Use Cases for Cold Storage Cold storage systems can support numerous use cases at banks and credit unions. Here are two practical examples as mentioned during our ...
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Legal, regulatory and tax rules have long required businesses to maintain years of records, causing them to store paper-based agreements and other documents in file cabinets or in stacks of boxes often relegated to back rooms, basements or even separate storage facilities. Organizations of all types and sizes have encountered substantial growth in the volume of business documents they generate, and many have struggled to keep up in terms of storing and maintaining this information. Adding to that, paper-intensive record-keeping is expensive and tedious, not to mention cumbersome in terms of providing easy access to those within the company who need it most. ...
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Proactively dealing with missing and expiring documents is a key component of an effective exception management strategy. However, that’s easier said than done when your financial institution manages hundreds of customers or members, thousands of pages of documentation, and a seemingly infinite number of document schedules. This article shares two “plays” to resolve exceptions for documents that must be collected on an ongoing basis, such as customer or member financial statements, tax returns, certificates of good standing, operating agreements, UCCs, rent rolls, and insurance documents. Play #1: Creating “document placeholders” for missing documents Collecting ...
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Here’s the situation : Your financial institution relies on a variety of technology to ensure efficient commercial lending origination —everything from loan origination systems (LOS) to eSign products. Wouldn’t it be nice if you could automatically extract documents from these systems and move them into the right place in your imaging system? Connecting your document imaging system to other commercial lending tools can accelerate productivity, reduce administrative work and oversights, and create a more scalable lending workflow. This article explores our approach for helping clients create interfaces to achieve these goals. Interfaces Playbook Not every ...
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Financial institutions looking to expand their commercial loan portfolios must be particularly mindful of the need for efficient and effective exception tracking. However, it can seem like there’s a lot of terminology to know. In this post, we’ll discuss several important exception tracking terms, as defined in Alogent’s banking glossary . What is an Exception? At Alogent, we like to think of an exception as something that requires attention because predefined requirements were not met. For financial institutions, exceptions usually fall into one of the following categories: Incomplete information , such as a loan document with a missing signature ...
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Data privacy remains a top priority for banking leaders across the globe. According to the 2021 Data Breach Investigations Report by Verizon, the financial services industry was the second most targeted industry for large-scale hacks, accounting for 23% of all reported data breaches. Significant financial loss is also a potential outcome, estimated to cost an institution $5.85 million, as noted by IBM in a Data Breach Report. Unfortunately, there isn’t a single solution or tactic that will stop a data breach. Both domestic and international data privacy regulations, such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act ...
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