Investing in DocuWare
Customer Company Size
SME
Region
- America
Country
- Argentina
Product
- DocuWare
Tech Stack
- Autoindex
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Customer Satisfaction
Technology Category
- Application Infrastructure & Middleware - Data Exchange & Integration
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Regulatory Compliance Monitoring
- Remote Asset Management
Services
- System Integration
About The Customer
BACS Banco de Credito y Securitizacion S.A. is a leading financial solutions provider for investment companies and capital markets based in Buenos Aires, Argentina. The company has an impressive volume of loan portfolios—including pledges, leases, personal loans, and car loans. They have a large distribution capacity made up of insurance companies, mutual funds, hedge funds, and family businesses. BACS is among the leading underwriters of the Argentine notes market, with more than $26 million in assets under its management between 2010 and 2014. Despite its success, the company was struggling with inefficient document processes, with only 20 employees responsible for the documentation inventory and filing of more than 50,000 loan documents that came through BACS each month.
The Challenge
BACS Banco de Credito y Securitizacion S.A., a leading financial solutions provider for investment companies and capital markets based in Buenos Aires, Argentina, was struggling with inefficient document processes. With only 20 employees responsible for the documentation inventory and filing of more than 50,000 loan documents that came through BACS each month, the company was overwhelmed. The existing workflows were almost entirely manual in nature, leading to frequent loss or misfiling of documents, reporting errors, and limitations. The company found it increasingly difficult to keep track of documents as they were shared and moved between multiple departments. Searching for specific documents and client files was a time-consuming and inefficient process that often left employees frustrated. BACS needed a solution to help them keep up with the demands of their growing company and make it easier to comply with FACTA (Fair and Accurate Credit Transactions Act), which stipulates privacy policies for bank documents and limits the ways consumer information can be shared.
The Solution
After a comprehensive evaluation of various document solutions, BACS ultimately chose DocuWare because of its ability to streamline the management and inventory of client files with automated, transparent workflow processes that improved recordkeeping compliance. Authorized DocuWare Partner, Ranko S.A., worked with BACS to develop a zero-interruption plan for the implementation of DocuWare and the creation of digital workflow procedures, easing the migration process so employees were not overwhelmed. A study was conducted to analyze the intricacies of current document workflows, then digital workflow rules were established for each process. Indexing was automated by linking DocuWare with the company’s internal systems. With their systems now linked, an index field such as document ID number can be used as a “match code” to pull related data records which are already in existence in the company’s system, as additional indexing terms further enhancing the security and accuracy of their records. All paper documents were then scanned (using multi-function devices) and indexed into the secure digital database, making the move to digital storage a seamless transition.
Operational Impact
Quantitative Benefit
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