Electronic Document Management Suite

Archimed eDMS in International Asset Bank

International Asset Bank optimized its costs and improved the efficiency of the employees thanks to Archimed eDMS

International Asset Bank AD is a universal bank with complete license for national and international operations. The bank has 33 branch offices and 48 offices in 68 towns and villages in Bulgaria. The bank is also one of the five banks with entirely Bulgarian capital. During 2008 the financial institution realized several IT projects, the largest which is the initiation of a software solution for the document flow management from Archimed eDMS.

“When we started this project we studied 7 software platforms and the result was that these documentary electronic solutions only cover either only the electronic registration and their actual scanning or an electronic archive which would be accessible only when needed i.e digitalization of the information. A following of the documentarily flow and the possibility to confirm resolutions and to prepare solutions were missing. Our idea was to manage all processes. Our goals were very concretely set and we knew the effects that we are aiming with the help of the software solution”, tells Georgi Sredkov, director of the IT department in International Asset Bank AD.

“Archimed is scaled and adapted entirely for the needs of the bank toward pre set goals and rules. A subsystem for electronic credit records was firstly initiated. It controls the work for handing over, processing, decision taking and control of the credit records. We worked before with paper. The teams who do these activities are several and all of them must have a copy of the documents. It was necessary to hand them over in order to make a decision. Now the entire communication happens with the software”. continues Georgi Sredkov. With the help of the software solution is realized the control of the processes – it is checked whether the records do follow the rules (a presence of certain documents, their order of scanning and others). After that they are simultaneously directed to the departments where they will be processed. If there is a need further documents will be requested and there will not be any duplicate request because the teams see all the documents of their other colleagues. There are rules and processes for handling the electronic credit records which are adjusted in the software system according to the internal normative documents of the bank. For example if one credit is above certain sum it will be automatically and simultaneously transferred for processing to all three Legal, Risk and Credit departments.

“Thanks to the initiation of the software solution the effect of order was reached. The discipline of performance improved, there were no more communicational complications, the flow of the document folders (sometimes with more than 100 pages) was optimized. Now the work of the credit records is done in 2 days, including the work of all departments. The saved costs for paper are significant, too. The investment in Archimed eDMS is justified and the return will be in three to four months”, comments Georgi Sredkov.

The second stage of the project is directed to initiation of the document module of the software system. “The banks are due to report to different control organs and there is a tendency toward growth of the volume of the documents which are prepared and moved by the document department – complaints and praises, contracts, letters, messages of distraint coming from different institutions and others. Our goal is to automate these processes and to create a uniform index for documents. Up to now there were several registration methods for different type of documents. Our goal was not only the decrease of the paper document flow also to have unique identification of documents in the bank”, tells the IT manager of the International Asset Bank.

The interface and the work of the two software module is similar but the logic of the document flow is different. In the document system they will be again registered but they are directed to the CEOs who give their resolution and after that the documents reach the respective employees. The whole process is conducted on-line and there is no need to print the documents.

“We also applied an (Optical Character Recognition) technology. The message of distraint and the letter were scanned and, the symbols are recognized by OCR which allows a full text search of information for particular client in the archive”, finishes Georgi Sredkov.