NSTL: Automation of Commercial Vehicle Loan Booking Process
Comprehensive end-to-end document management system helped L&T file over 2,00,000 cases in 6 months
Functionality & Features: Using Newgen’s tools Omniscan (bulk scanning of documents), Omniflow (Business process manage- ment) and OmniDocs (Document management repository), they have built a custom-made system that accelerated LFT Finance’s vehicle loan booking process. These mechanisms helped to reduce the high turnaround times that LFT finance were facing, and inefficient tracking of loan documentation. It is a comprehensive end-to-end document management system customized unlike other such BPM systems available in market. It helped LFT file over 2,00,000 cases in 6 months. The turnaround time reduced by 75%, and the operational costs were cut by 80%. The judges liked the impact of the product on LFT’s performance, helping to cut costs massively.
USP: Comprehensive end-to-end document management system customized unlike other such BPM systems available in market. The Newgen BPM suite supports easy building of highly efficient functional desktops for
human interaction. By using Web 2.0 based desktop, analysts can compose an end
user interface, where users can view both the electronic form and the document images,
checklists, to-do lists and exceptions for easy work processing.
Impact: Helped LFT file over 2,00,000 cases in 6 months. Turnaround time reduced by 75%, and operational costs cut by 80%.