Automate Your Document Imaging and Storage Processes with OpCon

The financial services industry has always been heavily reliant on paper documents. Mortgage paperwork is one of the most well-known examples. Anyone who’s ever taken out a mortgage or refinanced one knows that signing day involves the printing and processing of hundreds of physical documents—a process that ultimately costs us hundreds of thousands of trees each year. In addition to the environmental impact of being so reliant on physical paperwork, the financial services industry also has to contend with the logistical headache caused by old school methods of managing essential documents and forms.

Even after digitizing many of these processes, document imaging and storage is still costing businesses a lot of time and money—making this the perfect time to seek out an automation solution that can manage this work quickly and efficiently.

Automation is the future of document imaging and storage

By using intelligent document processing to automate form and paperwork management, you can easily sort, store, and extract data that currently exists in unstructured formats, like physical paperwork, email threads, and assorted PDFs. As a result, you can create more internal efficiencies within your business.

Specifically, with automation, you can extract the data you need from any document—wherever it lives—and route that data to the place it needs to go in milliseconds. That means you can leave behind the manual, haphazard method of wrangling and processing unorganized, scattered data and documents—which is a recipe for human error—and adopt a streamlined process that’s easy to manage.

Plus, if you maintain systems for data backups, long-term archives, or cold storage for compliance purposes, you can use automation to pull and park those files whenever you need, whether that’s at the end of every day, month, or year.

Your customer experience benefits from this automation, too

In addition to making life easier for the employees who’ve been responsible for managing your business’ document imaging and storage, automating these processes will also improve your member experience.

Members won’t have to go back and forth with you as often to share and communicate about key documents. As a result, essential information and important materials will be less likely to fall through the cracks or get overlooked, particularly during a process like mortgage origination. This will improve your reliability as a business and make you more trustworthy to your members, which can strengthen member loyalty and your reputation in the community.

How OpCon makes it happen

So, how exactly does OpCon automate these processes and facilitate them on your behalf? It’s all about setting up workflows that are structured as a series of event-driven dependencies. For example, you can set up your OpCon environment to watch for the arrival of specific documents in designated places at certain times of the day. Once that dependency is met, you can automate the movement of those documents to different locations, so anyone who needs to access to them can find them quickly and easily. In the case of mortgage lending and loan applications in general, you can set up an automated workflow in OpCon that will gather and reroute any application materials uploaded by your members.

If you need to extract data from those materials and deliver that information to specific people or departments, OpCon can do that, too. That means your employees won’t have to worry about missing an attachment in a lengthy email thread with a loan applicant. If one of your processes requires the review or completion of hundreds of documents, OpCon will make sure they’re all accounted for every time. If a document’s missing or incomplete, you can enable email notifications, so you know right away. If you need the process to pause at that point until that document is retrieved or complete, you can make sure your workflow reflects that, too.

When your employees aren’t worried about these manual, nitty gritty elements of document management, they can focus on more complex transactions and dedicate more of their time to work that further elevates your member experience.

Let OpCon handle the ins and outs of document management

Every document involved in each of your business processes deserves to be handled with care. Despite your best efforts, manually managing those documents as their volume continues to grow over time will inevitably lead to human error that can have negative impacts on your business. You can mitigate that risk with an automation solution like OpCon.

By setting up automated workflows that manage the ins and outs of document imaging and storage, you’ll be able to consolidate your data, streamline your processes, and reduce the risk of human error, which will yield significant time and cost savings for your business. With that time back and money saved, you can refocus your resources on innovative work that’ll help your business grow and scale.