Online document management solution for auto financing process

You must be aware that an auto financing process starts with filling out an application form at a dealership. Next the loan applications are normally faxed and sent to a number of finance companies for them to sanction the loan. Then counter proposals, conditional loan approvals, denials or acceptance notifications are again faxed back to the dealership. So overall it’s a very lengthy process. Don’t you think it could have been more effective if these loan applications were either scanned or entered electronically into an online document management solution so that they could be sent back and forth electronically rather than via fax?


Security is manifold in an online DMS (Document Management Software). Most trusted online doc

ument management services take great efforts to make sure that their hosting sites utilize the highest levels of system and data security. Documents stored at hosting sites are protected from unauthorized access both from within and outside of the hosting site firewall.


Once a loan has been approved and funded, the application and all accompanying documents need to be stored with the original loan application. These accompanying documents can be extensive, including proof of income, proof of home ownership, vehicle titles, vehicle insurance policies, credit reports and vehicle valuations. Getting access to all these documents electronically will certainly benefit lenders.


Approved loans then enter the servicing phase and again all documents and notes associated with payment records and notes history need to be stored with the other loan documents. These documents can also include collections and collateral recovery documents should the loan ever become delinquent. Don't forget all of the documentation needed to document the details of bad loans which require chargeback to either the lender or the dealership. All of this documentation could be stored and accessed much more efficiently if an online document hosting service was utilized. Source: ezinearticles.com

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Online Document Management can increase Efficiency and Productivity

Sharing and manipulating documents can be done in a few seconds with the help of document management software, so naturally the efficiency and productivity of work is increased. It can take a lot of time to search through a library of file cabinets but online document management software certainly eliminates this problem and employees devote more time on actual work as a result of which productivity is increased, effectively improving overall efficiency.

e-CelticDocs is one such software that offers several layers of security to keep your compann’s personal data under air tight security. 256-bit encryption gives peace of mind that your information is safe and shared only with pre-authorized personnel where you’ll never lose another document again. With a team of highly skilled technicians to support the software round the clock and multiple security features, online document management software is one of the most secure options available to any company .It’s one of the most secure systems of storing documents and data locally. Plus, your data is protected from hard drive or server crashes or power failures, because there are backup measures in place to protect against these types of failures.

Managing paper documents can be expensive and it doesn’t show that we care for the environment. It’s a good idea to switch to storing documents online which will save both, money and environment. Think about the money saved by going digital: paper costs, ink/toner costs, storage costs (i.e., file cabinets), paper waste removal, printer maintenance – not to mention employee time spent on filing and ordering more paper and related products. As you can see, by reducing the amount of paper being used, it will create a positive trickling affect on the company’s bottom line. Cost savings aside, a paperless company is also an eco-friendly company.

Source: http://blog.huddle.net

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Grab the best and most cost effective DMS software at 30% discount! Hurry, offer valid till June 13th,2011.

eCelticDocs is a recently launched software for documents management which is a great technology for storing and structuring  documents online. Storing data in an organized manner is a big area of concern for both big and small businesses. Companies suffer from the problems of data recovery and disaster management. Small businesses especially suffer from issues like wastage of money and resources over manning of documents. But it’s definitely possible to overcome all these problems with eCelticDocs considering its efficient, economical and effective document management solution.

eCelticDocs is an online document management system for SMEs, developed to store and share the knowledge within a company's documents. It’s perfect for managing all kinds of documents. Whether documents need to be shared with a client for ease of collaboration or stored as a back-up for compliance, eCelticDocs offers a secure scalable solution. Mobile workers can now tap into a company's documents from any location as well as having peace of mind of not loosing another document again.


 Multiple users can access it for managing their documents online and make any changes simultaneously. You save the cost of meetings and travel and most importantly your precious time. Such a system is not just useful for big business houses but also for individuals and partners. It gives you the freedom to edit, share and control your documents any day of the week and any time of the day or night.


One of the best benefits of online document storage is mitigating the possibilities of loss of data. Even under unforeseen circumstances data recovery here is quickly possible. Besides, you can exactly choose between whom to share the document and also control who will have how much share.


Grab the most efficient document management software today, that too at a 30% discount! Offer valid till June 13th 2011.   

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Few Points You should Consider before Buying Document Management Software

A document management system is a combination filing cabinet, fax machine, copier, secretary, and courier. The right document management system can make or break a small business. If you pay employees to file and retrieve documents, or you have a storeroom full of paper records, you need to look into document management. Here's how to determine which of the many options is best for your company:

1) Acquire a digital-imaging system.

Finding the right digital-imaging system is its own article, but it suffices to say, until you have a way to turn your existing paper documents into digital documents, none of the document management systems out there is going to be useful. Keep in mind many document management systems have interfaces to connect to document scanners, so you may be looking to acquire only the hardware.

2) Know WHY you need a document management system.

There are many reasons that a document management system might be right for you. Maybe you're drowning in paper. Maybe you need to alter your workflow to meet the requirements of legislation regarding record keeping, such as HIPPA or Sarbanes-Oxley. Maybe you're going for your ISO-9000/9001 certification. Each circumstance is best suited by different document management software.

3) Know what problems you're trying to solve.

This is related to, but more detailed than Step 2. Determine the business problems you're trying to improve or streamline, and write them down. Good answers include "We're tying to cut costs associated with paperwork," "We need better remote access," or "We're trying to improve security," among others.

4) Gather information.

You need to be familiar with the types of documents your business use, how they're created, labeled, filed, retrieved, and used going forward. Also useful is an accurate estimate of how many documents your business creates (i.e. will need to input into the DMS) each day. Include existing electronic documents such as PDFs, spreadsheets, and e-mails.

5) Decide who will host the software.

There are two options: you can host it yourself (client-server DMS), or you can have the document management software's vendor host it for you (ASP DMS). The benefit of a client-server DMS is it's more familiar and gives you more control, but it also requires more expertise. The cost is generally a large up-front sum. An ASP DMS is hosted by IT experts who know their craft and have many layers of security and backups that virtually guarantee file security, and they have a monthly fee. Sometimes the solutions you like can be purchased either way.

6) Examine ease of use.

It doesn't matter how technically sound or impressive a document management system's stats are, if the employees can't learn it easily, they won't use it. Insist on bringing a low-level employee to a live demonstration or free trial of the DMS, and ask them to use it. If they find it intuitive and easy, you have a winner. You ideally want to strike a good balance between a simple interface and the ability to complete common tasks with minimal clicking and typing.

7) Examine security granularity.

You want a DMS that has security that can be set on the document or document type, folder, computer, and system-wide levels. Some advanced document management systems can even set security for specific sections of documents. If the DMS you're looking at only has computer- or folder-level security options, it's probably not going to be the right solution.

8) Can the system conform to your changing needs?

Different systems have very different ways in which they can be scaled and customized. Look at the potential directions your business might take over the next few years, and make sure that the system you have can adapt and grow with you.

9) Does it have appropriate workflow functions?

Document management systems can implement workflow rules, approval processes, and document-routing procedures. The ability to automate workflow properly for your business is the feature that will increase your employee's efficiency the most. It's not worth giving up security or customization to have, but if you can find a DMS with advanced workflow options, take it...
Source: document-management.bestmanagementarticles.com

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Manage Documents Easily and Smartly

If I was the boss or owner of a company, I would have had a hard time managing documents of all kinds without a full-featured document management system. Every company has a document management system in some form or the other-those bulky file cabinets stuffed with piles of documents and files. But smarter companies these days prefer managing documents online for easy accessibility and saving time.

You don’t need to waste time looking for files or run around the office if they are available at your fingertips. With simple but efficient document management software, documents of any kind-financial statements, tax returns, emails etc can be managed and retrieved with a few clicks of a mouse!

Isn’t it great to be able to access office documents from any location without needing to install any software? It has so many benefits –work from home, office or outdoors. An authorized user can upload, view, search, share, print and email documents through an online platform like eCelticDocs.

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Document Management System Increases Efficiency and Productivity

Document management software, along with saving time, increases efficiency and productivity by putting the right tools and the right information in the hands of the right people. Reliable document management software should provide different layers of access so that only the appropriate person has the authority to read, print or share each document. Online DMS eliminates the chances of misfiling, saves time that is otherwise wasted searching for an important document inside filing cabinets and not to mention it cuts paper cost. Your company saves considerable amount of money and can take pride in promoting environmental awareness!


Document management software helps your organization boost productivity and efficiency with intelligent search methods .It’s a repository which you can access from any location and retrieve information in seconds and improve your organizational workflow. There’s no need to install any software, you can share documents with colleagues, clients, or suppliers and control what and how much you want to share.

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How To Decide On The Right Type of Online Document Management System

In comparison to traditional types of offline document management systems web based online document management systems are much more flexible and safe. In previous times, the entire documentation process was conducted manually, content was hand written and employees had to maintain huge volumes of files and folders. But now times have changed. With the introduction of computers and the Internet, people are now favoring online document management tools over traditional document management systems.
Nowadays there is no need to waste time by searching through piles of files for the relevant document; it can be done within seconds with just a few clicks. Online document management systems not only make searching files easy but also keep your documents safe and secured. A document management system enables you to trim down the time lost in searching and probing through files and folders and helps you to focus more on your business.
Nevertheless, before finalizing on any online document management system for your business, it is prudent to reflect on the below points     so that you can make an informed choice:
1. Search Function: This is perhaps the most vital factor. As your document database keeps on increasing it is vital that you have a good search function offering search based on different parameters so that you can easily retrieve the necessary documents. If your online document management tool doesn’t provide a good search function it isn’t any better than offline document management.

2. Storage Size:Check the storage capacity offered by the software provider as you will be adding files to the database continuously on a regular basis. So ensure that you get sufficient space according to the size of your organization.

3. Security: It is a deciding factor when selecting an online document management tool as a lot of your official documents and sensitive data will be stored. Select a service that offers 256 bit encryption with SSL protection.

4. GUI: The user interface is another factor that you need to consider. The interface should be user friendly so that you and other employees can quickly get accustomed to the tool.

5. Price: One more fact to consider is the cost of the online document management system. It should be within your means for your business and should not be a weight under any circumstances.

Hope these guidelines will aid you to make the correct choice. In easy terms, an online document management system will assist you to get things completed in a more efficient, fast and secured way. So make an informed decision, select the accurate product and take your business to new heights !

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Why Use Online Document Management Systems

It is time to do away with cabinets overflowing with coffee stained documents. In today’s technology driven business environment business establishments need to learn how to manage their documents and solve issues related to finding current and duplicate versions of their documents and the best way to solve all these issues is to adopt online document management systems.

The importance of a good document management system can never be underestimated; it offers various benefits that are crucial to running a business smoothly and staying ahead of the competition. Some of the tangible benefits that an online document management system brings with it are:

Increased Workforce Productivity:

Online document management systems make searching documents or getting the latest version of a document easy and fast. The system takes far less time to search for required documents than a manual search thus decreasing the time wasted and increasing productivity. Document management systems improve the approval cycle especially in cases where multiple people are required to review the documents.

Reduced Paper Storage:

Adoption of an electronic document management drastically reduces the use of paper as most documents are scanned and stored in electronic formats. This helps in reducing the cost of paper, toner and printing costs. Whenever a document is required there is always an electronic version of it available which can easily be accessed from any part of the globe. While a paperless office is still impossible to conceive, with online document management the usage of paper can be reduced significantly.

Easy Wireless Accessibility:

Online document management systems can be customized to provide mobile accessibility. No matter where you are you can always access all your office documents with just a click. With wireless document management systems you are never far from your office.

Security

One of the biggest risks that physical documents pose is that they can be altered, misplaced, or lost but with document management systems you can be assured of the safety of all your documents. Electronic copies of all documents are stored in a separate web server and only authorized persons can access them thus reducing the risk of unauthorized access to confidential documents.

These are just some of the benefits of online document management system; in essence a sound document management system can affect the overall productivity of a business as it helps you concentrate on your business.

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6 Key Benefits of an Online Document Management System

1. Retrieve documents in no time

When you try to retrieve hard copies of important documents it takes a lot of time and there is no guarantee you will be able to find them when you need them urgently. But when electronic images of documents are created and stored centrally, it’s possible to retrieve them in less time as there’s no need to run around the office to locate that document. You can also access any other systems available from the desktop while retrieving documents.

2. Save office space
You can integrate all your documents into a document management system and reduce the amount of prime storage space required by paper. Storing documents for retrieval or regulatory compliance in the form of paper means they compete with people for space within an organization. A document management system puts an end to this problem, creating a more favorable work environment.

3. No misfiling
Online document management solution eliminates the chances of misfiling which occurs quite often with paper-based solutions when they are removed from storage and taken back to the desk to access other systems. Paper documents are sometimes lost or we are unable to locate them. There is also the risk of confidential documents getting viewed by unauthorized person.

4. Faster System, Flexible Search Option
In a document management system files can be retrieved by any word or phrase in the document with the full text search capability which is not possible with paper. It’s also capable of applying multiple taxonomies which allows documents to be classified and stored in more than one way from a single instance.

5. Complete Security
Document management software provides complete security when it comes to managing sensitive documents and while give flexible control. It also allows access to documents to be controlled by groups or individuals. Paper documents do not provide same level of security because they are stored in filing cabinets or filing rooms and anybody who has access to the cabinet has access to all the confidential documents which can be tampered with if they want. A document management system keeps records of who viewed or modified an item which is impossible with paper.

6. Time Management
Time management is the key for success in any business. When your company has a reliable document management system you know half your job is done.

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