This case study exposes the incredible ROI experienced by Canada's largest credit union through integrated ECM and SharePoint generating in the neighborhood of $500,000 in savings annually.
Founded in 1946, Vancity is Canada's largest credit union, with $14.5 billion in assets, more than 400,000 members, and 61 branches. For many years, Vancity had relied on the FileNet document management system for capture and storage of its critical business information. This critical content includes everything from signature cards and bank forms, to Visa account management and other financial service offerings. Originally, the FileNet system provided distinct advantages over expensive magnetic tape storage. However, as the system aged there was little ability or knowledge remaining within the organization to keep the system optimized with new workflows, and recurring licensing and maintenance fees were costing half a million dollars annually.
Adding to the challenge, the credit union's imaging requirements have steadily increased since the original installation. In fact, the volume of pages to be captured has more than doubled since 1992. The time had come for Vancity to reevaluate its ECM strategy and adopt a solution that would offer maximum flexibility for capturing digitized documents and implementing document-centric workflows.
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