Moving Beyond High-Maintenance,
Low-Function Enterprise Content Management

Financial institutions are aware that the closer they move to a
paperless environment the greater the operational efficiencies they
stand to gain, and for several years now, they have been making
progress toward that goal. Most have implemented some form of an
imaging solution to create and store electronic versions of their
documents. However, these solutions often involve a server-based
application that financial institutions must store, manage and
continually upgrade.

This has resulted in increased IT personnel, as well as numerous
hardware and software upgrades. Executives do not want to be in the
business of managing archaic imaging solutions, especially those
that are nearing their shelf life. Fortunately, excellent options
are available to boost functionality and efficiency, enable greater
overall security, and decrease IT infrastructure and operating
costs.

LPS Desktop Document Management is a
highly-configurable, Web-based content management solution that
stores a financial institution’s content on a secure server managed
entirely by the provider. As a result, financial institutions are
freed from the burden of maintaining systems and dealing with
capacity issues. Their electronic and paper files are imported into
the application, time-stamped and stored online. This provides their
entire organization with convenient, simultaneous content access via
the Internet.  Best of all, quick and easy implementation
enables firms to immediately experience the tremendous benefits
available through the solution’s comprehensive portfolio of
capabilities.

In addition to improving document access, eliminating document
system maintenance and minimizing capacity concerns, LPS’
Desktop Document Management offers a robust content
management solution that includes advanced workflow capabilities.
This solution imitates human workflow, automating documents in an
extremely intuitive way. Users simply access an easy-to-use document
control panel within the application and execute document management
tasks, including document versioning, index labeling and
routing.

LPS Desktop Document Management also integrates
with other technology solutions, such as origination systems and
servicing platforms. This enables financial institutions to share
information between diverse systems without having to re-enter data
or waste time accessing separate systems. Regardless of which
systems financial providers use, they can be sure that LPS
Desktop Document Management will seamlessly enable them to
locate and import data, make data changes, combine data, derive
reporting and deliver what they need in a format consistent with
their requirements.

When using a solution like LPS Desktop Document
Management, information sharing with third-party
providers is also improved. Setting up business rules in advance
allows documents to flow seamlessly between financial institutions
and their providers. The system also provides workflow tracking,
enabling financial institutions to efficiently track document
correspondence and activity. This invaluable feature helps
institutions meet regulatory requirements, monitor performance and
make better strategic business decisions.

Web-based content solution providers take extra precautions to
ensure that documents are protected. With a secure repository system
consisting of dual data backup centers, LPS Desktop
Document Management offers financial
institutions an enhanced disaster recovery plan that ensures their
business continuity.

Well-rounded providers of Web-based content solutions also
provide access to a range of document management services to help
financial institutions further improve efficiencies. LPS provides
access to services such as document conversion, document scanning,
document classification, physical file storage, Optical Character
Recognition (OCR), data extraction, transition services and
professional consulting services.

For financial institutions currently struggling with document
management challenges – or for those simply looking for a solution
that offers much greater efficiency gains, LPS Desktop
Document Management provides a cost-effective, scalable
alternative to meet their needs now and well into the
future.
To learn more about LPS Desktop Document
Management, please contact John Michael at
651-688-1311.

Download a printable PDF
Request more information regarding LPS Desktop.