Hyland Software has announced that the Pennsylvania Treasury Department has dramatically reduced transaction fees for the Commonwealth of Pennsylvania by using Hyland OnBase suite.
The state estimates savings of as much as $140 million, including maintenance costs, over a five-year period, and an annual return on investment of over 2,300% per year. The savings were realized through the recovery of over 90% of the actual average cost per disbursement of transaction fees associated with the monthly payment of funds to 287,000 disabled, elderly state supplementary payment recipients.
Hyland Software said Commonwealth employees are currently using its OnBase enterprise content management suite – which includes core capabilities in document imaging and management, workflow and records management – at the Treasury Department, and the installation can support all 8,000 Department of Public Welfare (DPW) employees.
The Governors’ Office, Philadelphia Federal Reserve Bank, Social Security Administration (SSA) and the SSI Supplemental Security Payment Recipients are among the additional entities that have used the software through the Treasury Department.
J Terry Kostoff, deputy state treasurer for fiscal operations, said, This project is a perfect example of how an entity can re-visit its work processes and make surprisingly easy and hugely valuable modifications with the flexibility of a product like OnBase.