Provident Bank Taps Optika

To use enterprise content management software to get rid of paper documents

To use enterprise content management software to get rid of paper documents

Colorado Springs, CO — August 20, 2003 — Optika Inc., an enterprise content management (ECM) provider, has announced that the sec Provident Bank, which is headquartered in Maryland, purchased the Acorde product family to achieve its goal of converting all paper documents to electronic format while streamlining business processes across the entire bank.

Optika said it would integrate Acorde with Provident Bank's Microsoft Great Plains financial management application for increased efficiency within its accounts payable (A/P) organization.

Daniel Sigmon, managing director, information technology, of Provident Bankshares Corp., said his company has a bank-wide initiative to optimize its work processes and reduce operational costs. Optika's ECM solution best fit their needs. "We expect Optika to help us improve efficiency in a number of areas throughout our organization while delivering a significant return on our investment."

Provident Bank will use the Acorde solutions to electronically manage, store and retrieve documents and information throughout more than 25 departments, including account records, IRA and loan applications, and accounts payable (A/P).

The Acorde system will replace Provident Bank's legacy imaging system. Specifically within the A/P group, Optika will integrate with the bank's Microsoft Great Plains financial application to reduce duplicate data entry while improving customer service.