Bank reports universal improvements with paperless implementation

After implementing document management services in 1987, the GFA Federal Credit Union in Gardner, Massachusetts, has since made a full conversion to paperless. This switch has helped the bank save on operational costs, improved productivity, increased security and the overall quality of its services, according to the Credit Union Times.

The use of document management solutions is not a new idea, but going completely paperless is something many businesses have struggled to achieve. GFA has managed to not only clear out space-hogging file cabinets and reduce paper waste, but it also has streamlined various internal processes, such as account opening and other operations. Moving forms to a digital medium has also allowed for more direct client interaction, eliminating the need for employees to run around the office gathering paperwork and improving customer service in addition to other benefits.

"I’m amazed by the concept of searching for a document electronically versus the old fashioned way of going to the filing cabinet," Matthew L’Heureaux, and industry expert, told the news source. "When you’re combing through documents, you can’t answer phone calls or help your colleagues. And when you eliminate that physical piece, documents are in the system as soon as they’re signed." L'Heureaux continued, explaining that paperless offices help entice a younger demographic of professionals who are more accustomed to the digital age of information management.

Paperless initiatives require more than improved organization and accessibility. Digitization be a lengthy process that needs preparation and a change of certain business processes. Any company can invest in conversion services and start using computers instead of pens to do paperwork, but it also requires a mindset of looking toward improved technology to solve operational dilemmas. With document management and employee training, a business can reduce costs, help save the environment and improve many other aspects of the office in game-changing ways.

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