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OnBase Commercial Case Study: Cornwell Tools

-Drastic Efficiency Improvement by immediate data access and focusing on more mission-critical tasks
-Integration with current ERP to continue capitalizing on technology investments and work alongside processes

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OnBase Commercial Case Study: Cornwell Tools

  1. 1. The Challenge Cornwell Quality Tools has been manufacturing and distributing tools since 1919, but the company has experienced rapid growth in the last several years like it has never seen before. Providing tools to franchisees throughout the continental U.S. and managing borrowers’ payments through the company’s Tech Credit department used to mean filing and managing thousands of paper documents a month. When Cornwell’s borrower portfolio doubled in size from 2011 to 2016, it could have led to huge overhead costs just to pay for the staff to file all that paper. Luckily, Cornwell’s leadership deployed OnBase in 2012, so staff could manage information without missing a beat. “We’re on our sixth or seventh year of record growth. Having OnBase makes growth possible without adding substantially to our head count. We can do more with the same number of people.” – Mickey Charlton, IT director The Solution With more than 40,000 loans involving 20,000 borrowers through 600 franchisees around the country, the sheer volume of documentation that the company handled prior to implementing OnBase – from sales contracts coming in through the mail to invoices arriving via email or fax – required a system that could handle not just a lot of content, but different types. Four years after getting its financing arm - the Tech Credit department - off the ground, Cornwell implemented OnBase to manage sensitive documentation like legal retention documents and credit applications. CUSTOMER Cornwell Quality Tools INDUSTRY Manufacturing and distributing SIZE 600 franchisees in 49 states LOCATION Headquartered in Wadsworth, Ohio ONBASE INTEGRATIONS MAS500 ERP application Microsoft Outlook DEPARTMENTS USING ONBASE Tech Credit Accounts Payable Accounts Receivable Customer Success Story | Manufacturer and distributor Cornwell Quality Tools Creating efficiencies and eliminating paper to keep up with record growth
  2. 2. It didn’t take long for Accounts Receivable to benefit from going paperless. The company used to send weekly paper statements to dealers along with associated invoices. Now, by integrating OnBase with Cornwell’s existing ERP system, staff automatically index statements into designated folders in OnBase. They have eliminated the printing of those statements, along with the manual filing process. The Difference Saves staff time: In five years, Cornwell’s portfolio of active borrowers went from approximately 8,000 to 13,000. Not only can Tech Credit staff easily keep up with the additional business, but leadership hasn’t had to add to headcount. “It’s a better use of time for our associates. They have instant information at their fingertips when talking to borrowers,” said Nolan. Creates efficiencies in everyday processes: Getting paper from dealers and borrowers, filing it and making information available to Tech Credit associates who need to inquire about missed payments or answer a question about a contract used to mean shuffling through a lot of paper just to complete everyday processes. “We used to have to say ‘We’ll find your file and get back to you.’ Now, we have information right here and now,” said Charlton. Offers flexibility and future-proofing: Cornwell’s Human Resources and Marketing departments will soon implement OnBase to manage employee and benefits documents and archive vendor information. Payroll and Purchasing and Receiving will use OnBase to eliminate manual, paper-based communication between departments and streamline processes. Learn more at OnBase.com » “The paper handling was getting to be significant, so we decided to look at an automated document management system to get rid of all that paper,” said Larry Nolan, manager of Tech Credit. “OnBase had been in business for 20 years and could concentrate on meeting our document management needs.” Before OnBase, if a borrower called with a question about a contract, staff would have to dig through filing cabinets and sort through potentially several years’ worth of contracts in order to find the information they were looking for. Now, with a few clicks, they can pull up all of that customer’s documentation in a matter of seconds, which leads to faster dispute resolution. “When a borrower disputes something, we used to have to copy all of his statements and then scan or mail them out. Now, we just click on them and email them over,” said Nolan. After using OnBase in Tech Credit for a year, Cornwell leadership saw the opportunity to transform the paper-intensive Accounts Payable department. Handling about 13,000 to 14,000 invoices per month, AP receives these documents through their EDI, email and regular mail. With the EDI and email, invoices are pulled into the OnBase system – no printing required – and any snail mail is scanned in. “The efficiency alone and the savings from not having to print all those invoices has been wonderful,” said David Nist, treasurer. “We had a person in AP who was spending half her time filing. Now she’s doing other things that are more analytic and more productive and of more benefit to the company.” ©2016 Hyland Software, Inc. All rights reserved. 2582-16 “Staff can spend time on vendor or dealer issues and have all the information right there on their computer screens, so they don’t have to chase that paper.” – Mickey Charlton, IT director

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