PDIC to adopt document management system

MANILA, Philippines - The Philippine Deposit Insurance Corp. (PDIC) is set to adopt and implement by April 2010 a document management system that aims to enhance the operational efficiency of the corporation. This will enable PDIC to better serve the public through an organized and systematic information system.

The electronic filing, archiving and retrieval system (EFARS) will preserve PDIC’s organizational knowledge by capturing and storing paper documents into a secure digital repository, managing stored documents through an organized index system for fast search and retrieval of records, and allowing a secured sharing of electronic documents within and outside the office.

The PDIC engaged the services of Total Information Management (TIM) Corp. to assist in the design and implementation of the EFARS, as well as to train PDIC personnel involved in document management. The project covers system customization, conversion and migration of digitized documents into the system, and scanning of closed bank documents and records.

PDIC president Jose Nograles said EFARS will empower PDIC to fully utilize the advantages of technology in its thrust to increase operational efficiency and provide excellent customer service.

Under the proposed system, documents will be converted into digital files making storage and access much faster. The system features an advanced search engine for easy retrieval of documents. Strict security features are also provided in the system that will restrict access to authorized users and monitor usage, thereby protecting the integrity of the documents and records.

The implementation of EFARS will help cut administrative costs, reduce time spent to manage and retrieve documents and allow fast and secure exchange of information from all levels of the organization. “The ultimate benefit of this project is that we are more empowered to provide prompt service to the depositing public,” Nograles said.

With EFARS targeted to be operational in April 2010, corporate documents estimated at 4.2 million digitized prior to the engagement will be migrated to the EFARS by June 2010.

An additional 12 million documents of recently closed banks are targeted to be scanned and uploaded into the EFARS within the next two years.

PDIC estimates that it had accumulated around 180 million documents from past bank closures. The corporation is managing 523 banks under receivership and liquidation as of end-2009.

Established in 1985, TIM, a wholly Filipino-owned IT company, had successfully implemented projects on document management systems in banks, utility companies, and government agencies. It is also engaged in systems integration, business recovery and outsourcing services to some of the country’s largest organizations.