For Security Credit Corporation

Document Imaging Pays Off

Time, Space & Professionalism

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So often, a business will spend its hard-earned dollars on new technology, unaware of whether it will bring a return on their investment by resolving a growing problem, increasing productivity, providing greater efficiencies, and most importantly, having a positive impact on the bottom line...all things that Dewayne Keiper, President of Security Credit Corporation, in Sioux Falls, South Dakota, questioned when his company put in its first document imaging system. “We knew we had a problem: what were we going to do with all this paperwork that was coming in, every day? It was becoming a logistical nightmare.” What he discovered, with the help of Active Data Systems, was that document imaging with FileDirector Document Management Systems and Canon Scanners would not only solve his paper problems, but would do a lot more.

FileDirector, a powerful document management tool developed by Spielberg, Inc., can manage millions of documents simultaneously while being accessed by thousands of users. It makes storing, classification and the retrieval and distribution of documents quick and efficient.

Dewayne, a former South Dakota farmer and banker, started his business in 1998 to provide working capital to growing companies by factoring their accounts receivables. He soon realized that there was an excellent market for his services in assisting small-to-medium-sized companies in the transportation business. “It is not unusual for small start-up operators to discover after they have made the payment on their truck and used their credit card to pay for fuel, they had no money in the bank,” said Kieper.  Often times, it may take 30 to 60 days to get paid for transporting loads. By financing their accounts receivable with Security Credit, truck operators would have the necessary cash flow to keep their businesses running.

Retrieval is the Key

 As Security Credit’s business grew nationwide, a solution was needed to manage the growing number of financing documents and checks. FileDirector has proved to be an excellent choice. “Retrieval is the key to the whole thing,” says Keiper. Before it began imaging documents, Security Credit kept its paperwork in filing cabinets and storage boxes. “Can you imagine 27 people all going to one spot to look for documents?” asks Keiper. He observed that it was an inefficient use of his staff’s time and inevitably slowed down the transaction process. “Every day, someone asks a question about something that’s on a document. If you have to spend ten or fifteen minutes looking for it, you’ve lost their attention and are wasting time. With File Director, it’s right there in front of us, and we can email or fax it to them instantly without delay.”

Imaging Adds Value through Efficiencies

Thanks in part to its document imaging process, Security Credit has increased efficiencies, whereby reducing time of each deal.  Commonly, the fee finance companies earn is based on the term of the contract. Although Security Credit makes less money per deal, it has discovered that it is able to turn more deals in the same amount of time. “We end up making the same amount of money, but the intrinsic value to our customers is that they pay less, which makes us look better,” says Keiper. He noted that Security Credit benefits because with higher satisfaction, it is able to keep customers longer and create more opportunities for greater referral business.  “In the long run, we gain,” said Keiper.

A Canon CR-180 scanner is utilized for imaging checks for the archive and bank deposits.

Every document that comes into Security Credit is imaged with one of their Canon Scanners (DR-3080CII, DR-5020, DR5080). The original is then forwarded on to the respective party. The DR-3080CII scans at speeds up to 86 images per minute. It offers a wide choice of color, grayscale and black-and-white scanning modes. Equipped with dual sensors, the DR-3080CII provides fast, efficient, one-pass, two-sided scanning for robust document management and flexible paper handling.

The digital images are maintained and safely backed up on the Security Credit system. Keiper stated simply, “We don’t have any more paper.”

At Security Credit, It’s All about Professionalism

It may be difficult to quantify the impact of professionalism; however, Keiper pointed out that the ability to quickly retrieve customers’ documents and provide them with the information that they need cannot be overstated. Security Credit Corp. factors $100,000,000 in accounts receivables annually. Keiper attributes the expansion of Security Credit Corp. to quality service, rapid credit approvals, and the ability to add new services. “We’re trying to help our customers stay in business, and they appreciate it.” Keiper directly credits its ability to serve its customers with a high degree of professionalism to the growth of its business in both number and the size of operators. Added Keiper, “We are very fortunate. New customers are coming to us and asking, ‘How do we sign up?,’ not ‘How much is it going to cost?’”

Always with an eye for advancing its technologies, Security Credit is looking to the day that its customers can go online and check their own documents via a laptop and wireless internet connections. Customers’ information would be available nearly anywhere, 24 hours a day, and seven days a week.