FOR IMMEDIATE RELEASE:
FAIRFIELD, NJ (January 14, 2002) - Archive Systems, Inc. (ASI)
announced that it is providing Tyco Capital Small Business Lending Corporation (``Tyco Capital
SBL''), formerly CIT Small Business Lending Corporation of Livingston, New Jersey with instant
web-based access to more than four million pages of Small Business Administration (SBA) backed
loan documents. The benefits of the new system for Tyco Capital SBL include more efficient
portfolio management, reduced costs and a higher level of customer service.
ASI provides web-based hosted imaging services powered by DocuLogic
Technology, converting paper based loan documents into electronic images that Tyco Capital
SBL employees can access through a web browser. The actual paper documents are stored offsite
with Archive Systems, Inc. The ASI/DocuLogic system allows the Tyco Capital SBL Portfolio
Administration Group to more easily respond to the many customer requests it receives daily.
Instant document access via the web eliminates the extra expense, work and delay incurred by
having to retrieve paper files from a remote storage location.
The ASI/DocuLogic system required no additional investment in hardware or
software by Tyco Capital SBL. Training was minimal and implementation was immediate. The
system captures Tyco Capital SBL loan documents by contract number, indexing each one for
quick and accurate retrieval. The first part of the project, implemented in spring 2001,
involved ASI scanning and archiving millions of pages from existing loan portfolio documents.
Now, ASI converts about 50,000 scanned pages per month into web accessible image files for
Tyco Capital SBL.
How It Works
The ASI/DocuLogic capture process automatically parses these images to collect and catalog
key data, creating database entries searchable by contract number and file type (credit,
legal, environmental and appraisal, among others). Each file type contains further searchable
subsets.
A Tyco Capital SBL employee can locate, view, print or e-mail loan documents
just about as easily as one might work with word-processing files on a desktop computer.
Authorized Tyco Capital SBL employees search for loan documents by logging on to a secure,
password-protected ASI/DocuLogic web page and completing an online form in a web browser
(Microsoft® Internet Explorer® or Netscape®). For security purposes, users do not access
the database directly. Rather, the browser search-form queries the database behind the
firewall and returns search results securely. Additional security measures include SSL
(Secure Socket Layer) encryption and a Verisign server certificate.
Fifteen relationship managers and administrative staff use the ASI/DocuLogic
system on a daily basis.
Stephen Ogden, Director of the Tyco Capital SBL Portfolio Administration
Group, says the DocuLogic system saves time and labor, enabling his department to provide
quicker service to its clients. ``Overall, we're very pleased with the DocuLogic system. It
makes it very easy to find and view the documents, and it saves a lot of time,'' Ogden says.
``Just as important, we didn't have to change to new equipment or software.''
About Archive Systems, Inc.
Archive Systems, Inc. flagship solution, ASPEN 360 Accounts Payable Edition, combines best practices AP Automation with ZeroTouch AP imaging and workflow. The product increases efficiencies and reduces costs with features such as straight through processing, which uses automated three-way matching to auto match invoices to PO and receipt line items without AP processor intervention. It includes the ASPEN 360 Invoice Virtualization Center, which removes from the client all tasks associated with document imaging, data capture, document classification, indexing, and OCR. The company also provides physical records management services such as business records storage, document shredding, and offsite data storage, through a number of Record Center locations. For more information, please visit www.archivesystems.com.
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