The financial aid application process is a cornerstone of higher education operations. However, it often comes with inefficiencies that frustrate students and strain administrative resources. OnBase by Hyland is an enterprise content management and workflow automation platform designed to streamline workflows, reduce inefficiencies and integrate with other business applications. OnBase comes equipped with automated document processing capabilities, which can provide the following benefits to financial aid departments:
1. Streamlined Document Collection
OnBase eliminates paper-based verification by digitizing document collection. Students can securely upload files online while administrators can scan paper documents into the system. The software indexes key data to ensure instant retrieval and organization, saving valuable time during peak application seasons.
2. Automated Verification and Compliance
Verification documents are automatically compared against ISIR data in a side-by-side view, so discrepancies can be flagged instantly. This automation accelerates the review process and ensures compliance with federal requirements. Audit requests are handled effortlessly, and all documentation is accessible within the centralized OnBase system.
3. Enhanced Student Experience
OnBase integrates with student information systems (SIS) to update document checklists in real time. Students use an online portal to gain visibility into their application status, reducing the need for time-consuming calls to financial aid offices. Faster processing times mean financial aid packages are issued weeks earlier, improving acceptance rates and achieving enrollment goals.
4. Cost Efficiency and Scalability
With automated workflows, institutions can process high application volumes without increasing staffing costs. The system’s load-balancing feature ensures smooth operations during peak periods. This scalability is crucial since financial aid departments often face growing applicant pools and tighter budgets.
5. Improved Staff Productivity
Automation frees staff from manual tasks like filing and tracking documents, allowing them to focus on student support and strategic initiatives. Real-time updates to SIS ensure that staff can promptly address student inquiries, fostering trust and efficiency.
Conclusion
By leveraging OnBase, financial aid departments can transform their operations and provide faster, more accurate services and maintain compliance. Institutions that adopt OnBase can optimize their processes and position themselves as leaders in student success.
3SG Plus is an authorized OnBase reseller, integrator, and professional services provider. We specialize in designing and deploying customized OnBase solutions for institutes of higher learning. Our professional and managed services ensure that each OnBase deployment helps achieve outlined business objectives and maximizes ROI.