Out with the Old, in with the New

New Year, new you. At least that’s what they say. Every January, my usually quiet gym experiences a sudden popularity resurgence thanks to annual weight loss resolutions. new_year_resolutions_2014

Folks also start cutting back on excessive expenses to pay off their holiday debt. And most importantly, they look ahead to a clean slate. A fresh start. A new beginning. What could be more inspiring? 

But what about New Year, new community bank? What better time to make a list of resolutions for your community bank? Specifically, think about what process improvements or technology enhancements could benefit your customers and employees.

Not sure where to begin with your list? Here are a few ideas to get you started.

1. Reduce wait time for customers

With enterprise content management (ECM) software, customer service representatives have instant access to relevant information, enabling them to quickly and accurately handle inquiries, as well as up-sell products and services. ECM solutions also provide several mechanisms for customized, automated statement delivery. You can deliver compound statements with check images via e-mail, fax or posting on the Internet and then customize them to include customer-specific marketing messages. Community banks can also provide secure access to customer documents via the Web, enhancing the customer experience as well as reducing the workload on service representatives.

2. Ease the stress on your Compliance department

In addition to everyday competitive pressures, community banks must comply with evolving regulations. Not only do they need to comply with these mandates, they must do so without sacrificing service or profit margins. ECM provides community banks with the solution to effectively manage these challenges while enhancing customer relations.

For example, electronic workflow ensures policies and procedures are standardized and enforced. The right ECM solution automatically tracks the complete document process and history while providing audit trails, allowing community banks to proactively manage compliance requirements.

3. Bring the back office to the forefront

Although not usually on the front lines of customer service, operations departments like accounting, finance, and human resources are still vital to the success of a community bank. These teams require precise details to make sound decisions, but unfortunately, their processes are prone to paper and therefore susceptible to errors.

That’s where the flexibility of an ECM solution comes in handy. You can easily configure document management capabilities within an ECM solution to meet the needs of your community bank and its processes – regardless of department or document. No more lost or missing documents, no more passing paper back and forth and no more searching through drawers.

Once you’ve created an attainable and measurable list, review it with your counterparts. See which goals are likely for 2014 and even 2015. Then, take the necessary steps (and no, not on the treadmill) to make your resolutions a reality!

 

Michelle Harbinak Shapiro

Michelle Harbinak Shapiro

Michelle Shapiro brings more than 15 years of experience in the banking industry to her role as Financial Services marketing portfolio manager at Hyland. Her mission is to share best practices and evangelize the power of ECM as a tool for banks, credit unions and lenders to help automate paper-based processes and proactively manage regulations.

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