ActiveDocs Limited, a world leader in the provisioning of document automation and compliance applications, today announced that Cobank, one of three wholesale banks of America's $191 billion Farm Credit System, has implemented ActiveDocs Opus to automate generation and enforce compliance of loan agreements, promissory notes, and other contractual documents.
Michele Myers, ActiveDocs SVP Sales, North America said:
“It has been a pleasure to work with Cobank on this project that started with an in-depth evaluation of the product, and is now proceeding towards a large scale implementation of ActiveDocs Opus in the core area of Cobank's $72 billion lending business. This is yet another successful deployment of ActiveDocs Opus within USA's Farm Credit System. Farm Credit Services of America implemented the product in 2011 and has enjoyed the benefit of compliant automated documents ever since. We are now approaching the point where a majority of new contracts in the Farm Credit System nation-wide are generated with ActiveDocs Opus.”
The ActiveDocs Opus system is replacing the internally developed document platform to provide full-scale compliant document generation, in both user-driver and automated modes. The integration capabilities of the product and built-in support for open standard web services allows for deep integration with Cobank’s customer data management system (CST) and document management system (OpenText eDocs).
The content of Cobank's key documents is driven by hundreds of business rules. These rules had to be remembered and diligently applied by Cobank's document creators. The document automation and compliance solution simplifies the production and maintenance processes by moving the knowledge required to assemble the documents into ActiveDocs Opus' rules-driven architecture. In addition, ActiveDocs Template Set functionality simplifies collaboration on documents that consist of multiple parts and may require input and approval from several staff members or departments.
CoBank is a national cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture and the nation's rural economy. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving approximately 70,000 farmers, ranchers and other rural borrowers in 23 states around the country. For more information please visit www.cobank.com.
ActiveDocs develops Template management and document automation software that reduces the time and expense of creating documents, while mitigating the potential risk caused by inaccurate information. The company's solutions lower the possibility of complaints, legal issues and financial losses caused by manual document creation and help companies personalize standard, repeatable information. ActiveDocs has been in business since 1992, and specializes in state-of-the-art document automation and compliance for large enterprises. ActiveDocs' customer base covers over 160 of the Global Fortune 500, including the world's largest company – Royal Dutch Shell, BP, Bayer Healthcare Pharmaceuticals, ABB and many other global giants.
ActiveDocs Opus™ is a world-leading Document Automation Solution built on Microsoft® Office and Microsoft® Windows Server technology, and supports industry standard integration with data sources and document storage and handling applications. Templates are designed in Microsoft® Word and built from reusable components. ActiveDocs Opus has built-in management and deployment tools to allow Templates to be used for User-Driven (interactive) and Program-Driven (automated) document creation.