What’s New in OnBase 11.0 for Finance Organizations?
With more than 1,800 enhancements, 4,400 software changes and input from many of our 10,000 lifetime customers, OnBase 11.0 is ready to help your organization become more efficient than ever before. New features and functionality span Hyland Software’s revolutionary OnBase product suite, and there are specific enhancements that are designed to add specific value to your industry, including financial services.
Understanding that financial documents stored inside OnBase are rarely stand-alone pieces of information, but are frequently part of an overall transaction, OnBase 11.0 takes great strides to make the management and distribution of these documents and transactions much easier.
For example, let’s look at challenges a mortgage loan officer faces on a daily basis. A typical mortgage application includes dozens of documents and a lot of specific financial information. It’s a lot to collect, verify and approve. And that’s on top of the pressure applicants place on the officer to approve the loan fast. After all, they want to close on the house and start moving in. If a document is missing and must be located, that prolongs the process – and aggravates the customer.
Another way OnBase helps financial institutions communicate with customers is through Document Distribution. Traditionally used to automatically distribute documents such as bank statements or check images back to the customer through email, regular mail or on CD, in OnBase 11.0, document distribution allows these same methods of automatic distribution for any document stored inside OnBase, not just those stored as image statements.
Paper documents are still a fact of life in many Financial Services organizations from cashier checks to Mortgage loan files, which need to be scanned and indexed. Manually keying in the index values is costly and prone to error. OnBase has the capability to recognize scanned documents and extract the index values accordingly with minimal human intervention, which drastically reduces the manual labor associated with this task, by up to 90 percent for some organizations. In OnBase 11.0 the enhancements to Intelligent Automated Indexing strengthens this ability and continues to add functionality to make this as efficient as possible.
When these specific features are added to the more than 1,800 enhancements in OnBase 11.0, financial institutions have a true ECM toolkit with which to enhance the quality of the service to your customers.
Learn more about OnBase 11.0:
New to Enterprise Content Management? Start with Hyland’s ECM Solution Guide.