What You Should Consider Before Outsourcing E Statements

computer security

computer securityKeeping track of employee and contractor financial matters has become increasingly complex in the past several years. This complexity has convinced many offices to think about credit union statement outsourcing as a viable solution to their document and marketing needs.

Member Focus

Credit unions that offer online statements and functions to their members have a common set of concerns, some of which are:

  • Dependability
  • Security
  • Easily accessed statements and notices
  • Loan and mortgage statements
  • Loan coupons
  • 1099 forms for contractors
  • Easy access on mobile devices

The last item on the list, mobile devices such as tablets and smartphones, is one of the major areas of focus. Credit union members on the go appreciate being able to access and view their account information wherever they are.

Back Office Focus

Outsourcing at least a few of the back office functions can save time and manpower while enhancing marketing efforts. Companies such as Lanvera customize their services to fit the needs of their credit union clients, including:

  • Video clips
  • Email notifications and alerts
  • Tracking mail insert campaigns
  • Hosting newsletters
  • Business security and continuity
  • Document reformatting

Those are only a few things that statement outsourcing companies can do for its clients. The range of services is quite extensive and growing all the time in response to what credit unions and their members need and want. Technology is king when it comes to this business function.

What the Features Really Mean

A list of features is impressive and informative, what does it all mean for the credit unions researching whether to outsource some of their work? What should they be looking for?

  • Choose a company with flexible technology that allows its system to work flawlessly with yours.
  • Outsource your statements and other member services to a company that is committed to the security of your systems and of your members
  • Opt for a company geared toward your business recovery and continuity plans if these should be necessary
  • Look for a company that will handle most of the day-to-day routine tasks of marketing
  • Select a company that makes member access to savings, loans and e statements easy and secure.

These are the essential processes you should consider when looking for a statement outsourcing company. This will provide some guidance before you sit down to discuss your options with company representatives.