RISLA Speeds Student Loan Processing With ImageNow

Perceptive Software, Inc., today announced that the Rhode Island Student Loan Authority (RISLA) is using ImageNow® integrated document management, document imaging and workflow solutions to improve customer service and help ensure prompt loans processing.

RISLA is a nonprofit state authority that provides affordable higher education loans to prospective undergraduate, teaching and nursing students in Rhode Island. The organization also offers students and parents free educational admissions and financial aid assistance. Since 1981, the Authority has provided over 200,000 loans, helping 100,000 students to achieve the education that they deserve.

An increased volume of loan applications at RISLA led to impaired customer service, storage problems and decreased productivity. The company knew an electronic document management application would solve these problems. After evaluating several products, RISLA selected ImageNow.

"Many vendors require a significant investment in new hardware and their applications only work with certain scanners," said Roger Melo, RISLA assistant network administrator. "ImageNow works with our existing scanners, which saved us a large amount of money."

RISLA is using ImageNow in loan origination, consolidation and accounting. ImageNow automatically indexes and links approval letters and other documentation from schools to students' original loan applications. The application also helps RISLA efficiently manage customer correspondence.

"Before ImageNow our processes were slow, as they were 100 percent paper-based," Melo said. "ImageNow has helped reduce this to 20-30 percent, which makes our jobs easier."

Using patented technology, ImageNow seamlessly integrated with RISLA's Helm application. Instead of searching through boxes of paper files, employees now have instant, single-click access to all documents within a familiar environment.

"With ImageNow, our employees don't have to waste time manually searching for documents," Melo said. "ImageNow helps us deliver better customer service by giving us more time to talk to customers."

A user-friendly interface enables RISLA to rapidly train all ImageNow users, regardless of their level of IT proficiency. Hands-on ImageNow training and implementation gave RISLA employees the skills to manage ImageNow themselves, without the need for a host of expensive service visits that are typical in the software industry.

In addition to speeding RISLA's loan approval procedures, ImageNow also has reduced storage overheads. Rather than having a room dedicated to storing paper records, all files are now secure in the central ImageNow repository. RISLA administrators are extremely satisfied with the impact of ImageNow.

"ImageNow has delivered a great return on our investment," Melo said. "It saves us a lot of time with loan approval, makes our daily processes quicker and has increased productivity. ImageNow is phenomenal and our employees say they couldn't live without it."

About Perceptive Software
Perceptive Software, Inc., develops integrated document management, imaging and workflow software solutions that simplify business processes by delivering secure, digitized versions of paper and other electronic documents while leveraging existing applications. Customers in a broad range of industries worldwide have taken advantage of ImageNow, Perceptive Software's flagship software offering.

To discover the ImageNow difference, go to: http://www.imagenow.com/financial-services