Case Study: Stearns Bank achieves $1M in cost savings and enhanced compliance with M-Files

Ensuring Compliance and Achieves Cost Savings with M-Files

Stearns Bank, a $2 billion independently owned financial institution with locations in Minnesota, Florida and Arizona and more than 33,000 small-business customers, needed a centralized document management system to support growth and streamline compliance, vendor management, and accounts receivable/payable processes that were fragmented across branches.

Working with Marco, Stearns Bank implemented the metadata-driven M-Files platform and more than 50 automated workflows to replace printing, scanning and email routing. The solution cut AP approval from 2–3 days to under one day (saving $75,000/year), eliminated about 80,000 sheets of paper, saved roughly 2,000 staff hours annually, improved audit readiness and access controls, enhanced reporting, and is projected to deliver over $1 million in workflow savings while speeding loan processing and reducing duplicate customer requests.

Stearns Bank

Jen Dingmann

IT Manager