In fiscal year 2005, the department's UCC Unit processed a total of 183,863 financing statements and 80,021 search requests. The Unit processes about 1,200 total transactions daily, with roughly half of those submitted and completed online. About 3,500 customers access UCC Online and the number of registered users continues to grow.
UCC Online has made life easier for customers and employees. Prior to its introduction, mail and fax machines, as well as a great deal of manual labor and time, were required to process the hundreds of thousands of debtor name searches and financial filings submitted annually.
The online system processes and retrieves information electronically, eliminating the need to send paper documents through the mail. Acknowledgement copies confirming entry of customer filings are generated automatically and e-mailed by the system. Filings are immediately included in the UCC database used to generate searches for named debtors.
The online application also provides customers with the option of conducting a debtor name "quick search" of its database at no charge. The search enables customers to verify that a name is in the database -- and test for variant spellings. This cost-effective and timesaving measure helps customers accurately structure any further searches or filings so that they request and receive exactly what they need.
