Community Bank Selects EMC Captiva to Replace Kofax System

News Summary:

  • Community bank selects EMC Captiva intelligent enterprise capture for their mortgage processing application
  • Captiva enterprise capture platform will be deployed centrally and distributed, along with advanced document capture capabilities.
  • Kofax system did not meet growing business requirements for expanding capture into other banking areas (e.g. branch office capture).
  • Captiva will provide the solution for capturing documents and data to be delivered into backend IBM-FileNet content management system.

There’s an old saying “in with the new, and out with the old”. In this particular win, EMC is effectively replacing an older Kofax system that had been in place for several years.

Recently, EMC has had a number of successes around replacing an existing capture system with Captiva. Not surprisingly, companies are motivated to replace antiquated systems when there is a clear business impact – reducing operational cost in the area of data entry and document preparation, or moving capture towards front office environments where delays are eliminated and customer service can be improved.

In other cases, large enterprises have been using two or three capture systems in different areas of the business, and in these cases, the business driver was consolidation and reduction in IT operational cost. IT departments in larger organizations are faced with huge challenges: supporting an increasing number of systems, aging systems, raised service level agreements (SLAs), and business owners demanding products and solutions that can address new business requirements. These organizations spend over three-quarters of their budgets just maintaining the systems they have, with very little left to invest in new technologies that would positively impact the business itself. By consolidating multiple products, they not only reduce costs but also eliminate domain expertise requirements.

Coupled with EMC’s clear advantage in performance, scalability, and administering a large enterprise capture environment, EMC provides a clear advantage for companies dealing with a number of aging capture systems.

Does my current investment in document capture give me what I need?

If we agree that paper is not going away, what are companies to do? The first step is to always evaluate what you are doing today – what level of automation do you have you in place? One way to look at this is in different stages, where stage 0 represents content everywhere with lots of manual processes, and stage 3 is the stage we all want to be at where everything this automated – from capturing and processing information, to communicating with customers through self-service models.

Stage 0: Content everywhere

Stage 1: Capture, store, and retrieve

Stage 2: Automate and manage business processes

Stage 3: Customer enablement, communications, self-service

For the sake of discussion, let’s just assume you made an investment into document capture 7 or more years ago, so you understand the benefits of capturing, storing, and managing paper as electronic information. You are realizing the benefits of stage 1 or 2.  The questions then become: what do I have to do to reach stage 3 or what could a new product do for me that my current system cannot?

You’re probably thinking “if it’s not broken why change?”. Well it may not be broken, but I would bet that if you bought a capture system over 7 years ago, there are probably a few things you thought of doing that it can’t do today.  

So here are a few questions to think about that will help guide you and enable you to make a well-educated decision if it is time to replace your document capture system.

Are there steps in my current capture process that are very manual (e.g. data entry, doc prep, routing documents)?

If I automated steps like capturing data, what would that save me in terms of operational cost savings (e.g. FTEs, fewer processing errors, paper handling)?

Does our company operate in a very distributed environment (branch or regional offices)? If so, is there an advantage to capturing the documents at the branch office versus using a courier service to move paper from our branch locations to central sites?

If I could turn around the processing of information faster, what would that mean to service level agreements I have with internal business owners, and the service I could provide to my customers?

How many capture centers do you have today, and what if these could be consolidated down to a couple or one?

These may sound like basic questions, but it is a start to understanding what your pain points are with the current system, as well as being more strategic when looking at how you process and manage your information today. When I say strategic, I mean thinking beyond how you do it today.

For many document capture environments today, capture is only used in a central location (e.g. the mailroom). But if you look at many forward-thinking companies today, they are getting significant cost and time savings by moving capture out of the mailroom, to regional offices or even to individual desktops. Capture is done much faster, with fewer delays and at a reduced cost.

I may have digressed a bit from the original piece of news in this posting about EMC replacing a Kofax capture system, but the main point I’m trying to make is to look at whether or not your current legacy capture system is still living up to what you need it to do. Chances are it is not.

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