Faster Response Time Leads To Better Customer Service At Security Finance

KeyTrack Speeds up Payment Process
Security Finance, a consumer loan company located in Spartanburg SC, deals with 3,000 plus invoices a week for over 1,000 locations. Responding to them often took up to four weeks. With no imaging capability and a completely paper-based process, there was an inevitably slow turnaround time on invoices. A desire to streamline their process led Security Finance to seek a better solution. In their words, "KeyMark had the best integrated solution with room for growth."

KeyTrack, KeyMark's Accounts Payable solution, was initially implemented in 2003 with great success. All approvals were managed in the OnBase Workflow module, which helped make the invoice system more efficient. Invoices were then electronically routed to remote locations for approval and paid within four days or less from receipt as opposed to four to five weeks.

After realizing the efficiency of the solution with invoices, Security Finance decided to add most of their accounting documents into OnBase such as; Cash Management, General Ledger, Audit, Tax and Bank Reconciliation. This has lead to a successful document approval process with set standards that can be tracked.