Kclink | Newgen

ACCOUNT OPENING (KYC Process)

Streamlining Account Opening process and improving on-boarding services this solution lets bank enhance customer centricity as well as increase process efficiency. The Newgen Account Opening Solution is a multi-tiered, platform independent linear workflow management solution. It has a scalable architecture helping banks rapidly ramp up on-boarding volumes.

A smooth on-boarding helps banks can forge a long term relationship with the customer. Banks can breathe easy as the solution enables compliant, KYC centric on-boarding. Intertwining analytics and activity monitoring it provides visibility on the lifecycle of every new account providing for intelligent cross selling and up-selling opportunities.

Key Benefits of the solution are mention below:

Online availability of documents anytime anywhere

Automatic extraction of key data and zone based data entry support for error free faster processing of documents

Resource optimization by dynamic allocation of task with load balancing support

Supports distributed scanning and centralized processing

Supports both Open Source and Windows based platforms

Loan Document Approval Process

Newgen Loan Document Approval Process is a unified solution with a linear workflow leading to faster and error free lending initiation. The solution draws heavily from Newgen Products and solutions.

Key Benefits of the solution are mention below:

End to End automation of document intensive Loan processes, where users can see documents and data on single screen.

Automated Identification of fraudulent cases during initiation and archival for future reference.

Instant Loan summary template for review and approvals by senior management.

Flexibility to change the processes as per Market requirements without any changes in Core application.

Routing of the cases to appropriate authority on the basis of applied loan limit.

Mandatory document/Process checks listing at the time of initiation to reduce the rejections.

Extending the reach of the DSA (Direct Sales Associate) for initiating the Loan approval

Monitoring/Escalations for SLA management

ACCOUNTS PAYABLE (Invoice Approval Process)

Accounts Payable is very often seen as a process which requires complex IT infrastructure and solutions. Newgen simplifies Accounts Payable process with the help of OmniProcess linear workflow built inside OmniDocs. It essentially means that documents like invoices can flow from one person to the other & back for approvals till they are finalized. Users can be separated across cities and countries and access the invoices for approval through Internet Explorer. They can also put comments on Invoices and also see the comments of the last users. An audit trail is also maintained of all actions on the invoice which helps organizations during internal or external audits.

Accounts Payable on OmniProcess is built inside OmniDocs and gets scanned invoices through OmniScan. Newgen OmniScan and OmniDocs are ideal for organizations which are looking for managing their physical and electronic documents as well.

OmniScan:
OmniScan is a production-level document scanning system with built-in document recognition and separation capabilities. It has the power to scan various types of documents with different scanning properties without human intervention by using document templates.

OmniDocs:
OmniDocs is an Enterprise Document Management (EDM) platform for creating, capturing, managing, delivering and archiving large volumes of documents and contents. It also integrates seamlessly with other enterprise applications. OmniDocs handles Scanned Document Images, Electronic Documents, Emails and Electronic Data Output from other applications with equal efficiency and ease. OmniDocs comes with enterprise level security which allows document access to users and groups based on security policies.

Vendor Management

Enterprises appreciate the need to standardize their vendor management processes. Businesses generally find comfort in transacting with Vendors they have worked over a period of time. Most organizations today have created the requirement for Vendors to be empanelled before they can start working together.

This empanelment entails a long drawn and document intensive process. Getting it first time right is crucial for maintaining smooth associations with Vendors.

The Solution
The Big Solution Vendor Management leverages capabilities of Newgen OmniDocs ECM Suite to help organization's drive a linear and hassle free Vendor registration process.

The process is kick-started by Vendors filling up a physical form for the purpose of registration. Vendors provide necessary supporting documents such as TIN Number, VAT Certificate and other relevant certifications. These documents are then digitized and indexed leveraging OmniScan.

Once digitized, the electronic formats of these documents are then introduced into a document centric workflow, where they undergo a process entailing verification, authentication and approval.