The Credicard Consorcio company faced many concerns regarding document needs a few months ago. Today, their problems have been resolved thanks to DocPath solutions, implemented by their partner, Novatec, located in Venezuela.
With more than twenty years experience in the Venezuelan market, the company Credicard Consorcio has become a reference in their country when it comes to processing electronic payments for banks and other financial institutions. So much so that currently they work with over twenty companies in Venezuela, 70% of the banks in the country.
Over the years so much economic activity resulted in complex document management needs. It was then when Credicard realized it needed powerful document technology. The company had to respond to customer demands. They realized they needed a solution to streamline their document management processes, they needed a solution capable of converting documents into digital formats quickly and efficiently.
“The project came about because of various needs: we wanted to modernize our processes to a service-oriented architecture (SOA), providing faster and safer services, and creating value by reducing costs associated with these processes and paper usage”,
explained Alberto Roa, vice president of Credicard Consorcio Projects.
DocPath comes into play
Once the needs were addressed, they chose DocPath intermediately.
“We decided to choose DocPath because of the versatility of their applicaions, the extremely quick implementation and also because of the efficient local support offered by their partner, Novatec”,
added Alberto Roa. He also said:
“The presence of Novatec, a company with extensive experience in these types of processes, was the main advantage compared to other potential providers.”
Credicard chose two DocPath solutions for their project. The first one was Aspen, a document manager that enables the storage of business data and their associated templates independently, this helps the process of generating documents in real-time. The second implemented solution was High Volume Docs Generation, this allows batch applications to generate high volumes of documents for a wide variety of output formats, they can be electronic formats as well as printing formats.
“We needed a solution that would allow us to generate documents in real-time, for example the statements of credit card owners. Because of the volume of documents we had to digitilize the best choice was Aspen and High Volume Docs Generation”,
said the man in charge of Projects for Credicard Consorcio.
Efficient Implementation
Once the solutions that responded to Credicard’s needs were chosen, the implementation process commenced with the invaluable help of Novatec.
“Novatec’s commitment is to provide our customers with complete solutions throughout the whole process, from defining the project through to post-implementation. With our extensive experience in document management and DocPath‘s leading products we have been able to carry out the process successfully”,
said Leonardo Gonzalez, director of Novatec.
After a few months and an investment of around 85,000€, DocPath‘s solutions were successfully installed in an IBM Blade HS22 Intel-based server, working with an Oracle database. The digitilization service is connected through a Web Server to the Credicard site, around twentyfive users are directly linked to the applications, and, in total, the Venezuelan company issues approximately two and a half million statements.
Initially a few problems had to be overcome.
“We needed to carry out fundamental changes that only DocPath could provide through their local support”,
explained Roa. Therefore, DocPath provided training and support throughout the process, while Novatec facilitated the development and implementation of the solutions.
Reduce printing volumes, increase savings
After all the difficulties had been overcome, the benefits became apparent. Credicard’s “zero paper” program, with the help of DocPath‘s solutions, was already a success in the first month, they reduced printouts by 90,000 and up to 160,000 during the third month. By the end of the year the goal is to reduce printouts by 60%, a total of 600,000 printouts. According to estimates by the company, the cost savings during the first month were around 10,000 euros and 18,000 euros in the third month.
“We are extremely pleased with the ROI, thanks to the high acceptance of our customers, the capital recovery period will be ten to twelve months, this is a 50% decrease compared to the initial calculations”,
said Alberto Roa.
The benefits associated with the project have made Credicard believe that these types of document technology projects can beimplemented in various areas in the near future.
“If to the already obtained advantages we add the ability to improve services, reduce risk, decrease costs, control future price increases and be more efficient regarding information needs, we can conclude that with this project, we have added value for our customers, banks, and in turn they have added value to their customers as well”,
concluded Roa.