1st Summit Bank Improves Profitability with Foxit Software

Leading Regional Bank Reduces Cost While Adding Capabilities with Foxit Ultraforms

FREMONT, Calif. – (September 25, 2018)— Foxit Software, a leading software provider of fast, affordable, and secure PDF solutions, today announced that 1st Summit Bank has selected Foxit’s Ultraforms, a 2D barcode generation engine that economically and efficiently digitizes data input into PDF forms. 1st Summit Bank is frequently recognized as one of the best regional banks in the United States and has 16 locations and over 200 employees.

Ultraforms is a powerful 2D barcode generation engine specifically designed to work with PDF fillable forms. To solve data capture issues, customers provide Ultraforms-enabled PDF fillable forms to their end users. After printing and signing, submitted forms can be quickly scanned and the form's data can be easily and accurately captured into databases or applications. Data capture using 2D barcode technology guarantees 100% accuracy and provides cost savings, higher productivity, better efficiency, and improved customer satisfaction. Ultraforms provides a unique opportunity to reduce costs from traditional data capture operations.

Prior to moving to Foxit’s Ultraforms solution, 1st Summit Bank was creating all fillable forms with Adobe Acrobat Pro. That amounted to upwards of 75 forms that required imaging, maintenance and updating. When the institution moved to more advanced imaging that didn’t have straightforward data capture, the team realized that adding that feature on the Acrobat side was going to be price-prohibitive. The bank started researching alternatives and thought that barcoding—generating a 2D barcode onto a form that contains the variable data entered into the form by the end user, which can then be quickly scanned and captured into databases or applications—was the right solution.

“Originally I tried to use Adobe barcoding, but quickly realized that it would not work for us as it would require every one of our computers to have an Acrobat Pro license - an expenditure of at least $150,000,” said Joseph Ivock, Data Center Officer at 1st Summit Bank. “We evaluated a lot of competing solutions but ultimately that the Foxit Ultraforms solution was exactly what we were looking for.”

1st Summit bank integrated Foxit Ultraforms with Adobe Reader to create internal forms that change continually throughout the day as internal staff open up new accounts and add options for different customers. Ultraforms simplifies processes by barcoding a unique ID number, the date, and the account number. The solution also does it all behind the scenes immediately, which enables 1st Summit Bank’s booking department to be completely be caught up. Users can now scan a high number of different documents and have them indexed automatically - taking a once complex and time-consuming task and reducing it down to 5 minutes.

The many benefits organizations can see from implementing Ultraforms include:

  • Reduced costs from traditional data capture operations
  • Reduced time needed to capture data
  • Data becomes available to other systems/processes faster, accelerating time-to-market
  • 100% accuracy in the data capture process
  • Minimize the number of problems that need to be solved in the data capture process

“Ultraforms is so simple; after a short training, we are able able to generate all the necessary forms within two days,” says Ivock. “As we look to the future, we see many other possibilities for Ultraforms. Soon we want to be able to send documents to a customer so they can open it as a PDF and sign it immediately through esignature. Leveraging Ultraforms, I know whatever comes back, we will be able to quickly index it and get it into the system. That’s our future, thanks to Foxit and Ultraforms.”

For more information on Ultraforms, please visit https://www.foxitsoftware.com/products/ultraforms-2d-barcode-generator/.

 

About Foxit Software

Foxit is a leading software provider of fast, affordable, and secure PDF solutions. Foxit addresses the needs of three distinct market segments. For End-User Productivity, Foxit delivers easy to use desktop software, mobile apps, and cloud services to make knowledge workers more productive. ConnectedPDF deliversleading edge technology that powers document management, security, and collaboration services for PDF files. For Enterprise Automation, Foxit provides server software for large scale PDF document management and data capture. Foxit’s Developer Solutions enable developers to incorporate powerful PDF technology into their applications.

Foxit has over 525 million users and has sold to over 100,000 customers located in more than 200 countries. The company has offices all over the world, including locations in the US, Asia, Europe, and Australia. For more information, please visit https://www.foxitsoftware.com

 

Media Contact:

Kevin Sugarman
GlobalFluency
408.677.5311