The Stroud and Swindon Building Society achieved full payback in 24 months following its move from a paper-based operation to digitised document imaging, storage and workflow.
Speaking at this month's Documation exhibition and conference in London, Simon Whitwham, customer services director of Stroud and Swindon, said the system, which went live in July 2003, had improved productivity by 20%.
It had generated 1,839,641 images in the past 27 months, reduced file movements from 4,000 a month to 1,200 a month, and slashed paper filed from 4,000 pages a month to less than 50.
Whitwham said the system makes Stroud and Swindon, the 15th-largest of the 63 UK building societies, one of only a handful of building societies using digitised document workflow.
After conducting quality checks of all scanned document images over a period of nine months without finding any problems, Whitwham has now adopted random checks. He used Vignette's integrated document management system, which he said had enabled him to increase transactional levels without having to take on new staff.
One major area of value impact was in the helpdesk. First-time resolution of problems had jumped from below 50% to 85%, and calls were now shorter, averaging less than three minutes. "We have moved from an erratic service provision to a consistent one," he said.
"We delivered real value through corporate information management."