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Arcil Digitises Their Documents Swiftly With Canon's Solution

    • Customer Name
      • Asset Reconstruction Company (India) Ltd. (ARCIL)
    “NIIL's professional competence and teamwork accentuated by Canon’s quality and power-packed performance made possible the improved document workflow.”
    Mr. Killol.
    IT Manager

Business Overview

Asset Reconstruction Company (India) Limited (Arcil) is registered with Reserve Bank of India (RBI) under Section 3 of the SRFAESI Act 2002 as a Securitization Company and Asset Reconstruction Company (ARC). ARCs are established to acquire non-performing assets from financial institutions and banks with the objective of focused management of these assets and maximization of recovery. The ARCs thus, relieve the institutions and banks of the burden of non-performing assets, to focus on other core activities. Arcil has been set up to fulfill these objectives in the Indian banking scenario with sponsorships from State Bank of India, ICICI Bank Ltd., IDBI Ltd. and Punjab National Bank.

The Challenge

Arcil had legal documents from all the non-performing assets of the various companies stacked in their office.

Legal documents are arranged on racks or in boxes amounting to approximately 20 lakhs documents. These documents were stapled, placed in a file and kept in boxes. The files belonging to various customers vary in number and thickness based on the correspondence that ARCIL had with its customers. Account managers each with their own pool of customers maintain the files.

Over time, the documents were fast accumulating at the back office, occupying space. This leads to several problems such as misplaced and lost files, requiring many man-hours to locate and replace the files. The need was to find an effective document management solution.

The Solution

To improve the situation, ARCIL implemented Netspider India Infotech Limited's (NIIL) end to end solutions. With NIIL’s expertise powered by Canon DR 9080 scanners, the legal documents were digitised and placed into their server for quick retrieval and storage.

First, the files were segregated by account managers. Then those files within each customer’s folder were numbered in
an incremental order by NIIL’s temporary numbers. Once the numbering is done, it is passed on to NIIL’s document preparation team for un-stapling and insertion of barcoded pages between two stapled documents to prevent them from being mixed together.

Next the Canon DR 9080 scanners were used to scan the documents. These scanners have special features like staple and double page detection, which helped to speed up scanning of documents substantially. Once the files were scanned, they were marked with a stamp to prevent them form being mixed up with other files. Subsequently, they were transferred to post document preparation team to be re-stapled like the originals. The bar coded sheet was taken as the identifier between one stapled document and another stapled document.

The scanned documents were then indexed on various fields and inputted into their document management server for quick retrieval.

The Results

  • Digital storage of documents eliminated misplaced and lost files.
  • Faster retrieval of documents improved work efficiency
  • Digitizing the documents reduced physical document storage space