September 17, 2002 â New York City. SGP International, Inc., a leading developer of departmental data reconciliation and custom designed data management solutions, announced today the release of DOX, a document compliance system designed to give document managers the ability to efficiently generate, track and monitor the status and location of documents.
"DOX is an excellent risk mitigation tool for document managers," said Evan Brodie, SGP International's president and founder. "DOX replaces the cumbersome and error prone manual and spreadsheet systems for tracking documents, and it provides a cohesive system to locate and monitor all necessary paperwork."
DOX is a flexible, multifaceted document compliance system designed to generate and track the necessary documentation for a variety of needs such as mortgages and loans, regardless of the schedule required. As a sophisticated tickler system, DOX allows users, at the touch of a button, to see what documents are needed, when they are needed, when they were submitted, who is responsible for submitting them, if they have been verified, and whether they are associated with a specific customer, deal, facility, borrower or guarantor. Not only does DOX track the actual transactions, but it also has a secure login system not typically available in manual and spreadsheet systems. For example, documents can be received and logged by one individual and verified as received by a second individual, leading to greater security and assurance. In addition, if a requested form is not submitted on schedule, a waiver or extension may be granted. DOX will document the waiver or extension, incorporating an approval cycle into the process. Audit and certification status is also tracked. These records are essential to support document compliance and mitigate loan-processing risk.
The power of DOX is seen in its reporting capabilities. DOX generates a variety of standard reports including past due documents and documents due in the next 30, 60 or 90 days. Reports can also be generated by Risk Manager, Group Risk Manager or Account Officer. In addition to multiple standard reports, DOX is integrated with MS Excel for customized, error free reporting capabilities.
DOX, starting at $20,000 per installation plus implementation expenses, is available immediately.