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Insight Center Community Bank

Industry knowledge to help you grow your business

Lowering Costs, Reducing Errors With Forms Standardization

Two Isn’t Better Than One

No one intentionally sets out to confuse personnel or waste account holders’ time. Multiple forms designs with the same purpose usually happen by accident. Perhaps there has been a change of purchasing officers and one isn’t aware of existing inventory on hand. Or, an institution requests vendor bids for each form separately. For instance, one vendor might have the lowest bid for cash tickets, but another vendor might have the low bid for general ledger documents. Over time, the institution ends up with a hodge-podge of forms from several vendors. Financial institution mergers and acquisitions also play a role in forms redundancy. Typically, each institution will continue to use the forms on hand, until they’re told otherwise. Cost-conscious branch personnel will hold on to forms inventory, thinking they may be of use in the future or in case of an emergency. But continuing to use two different forms to achieve the same task increases the potential for employee confusion, errors and inefficiency.