PyraMax Bank optimizes processes across enterprise, cuts paper costs to the max

As an organization that dates back to 1895, PyraMax Bank relies on the sharing of information across departments and systems. Unfortunately, many of the bank’s processes were powered by paper, causing problems. From lending to human resources (HR), paper drove costs up and slowed processes down. As gas expenses and courier costs continued to climb, PyraMax knew it had to do something.

Now, the bank immediately images documents as soon as it receives them, processing them electronically and storing them in OnBase, where they’re instantly available to approved users. Storing its important information in a secure, centralized place grants PyraMax complete control over it. By consolidating all important content into one electronic system, the financial organization solved the problems of managing content at physical storage locations.

With paper use and costs on the right path, leaders turned their attention to improving critical workflow processes. Central to any bank’s success is the way it lends money, so PyraMax began analyzing its loan processes.

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“At one point, we were spending over $10,000 every month shuffling paper from branches to our central processing location. So far, we’ve cut that cost in half and expect to eliminate it altogether in the next few months," said Denise Merkel, assistant vice president, Data and Financial Services for PyraMax.

Four ways OnBase changed the way PyraMax does business

Here are four more ways PyraMax is benefiting from OnBase:

  • Reduces costs and risks: By capturing documents and information electronically, PyraMax increased process speed and accuracy and decreased the costs and risks involved with storing important information on paper.
  • Provides immediate access to documents and information: Employees access content directly from the systems they use every day, minimizing training requirements.
  • Optimizes the lending process: OnBase integrates with PyraMax’s existing technologies – like its LOS – to give them the ability to communicate and share information among systems, reducing the need for manual input.
  • Spans the entire enterprise: Starting departmentally and achieving great results, PyraMax extended its OnBase solution across the entire enterprise, giving everyone immediate access to the information and documents they need to succeed.

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