EFTS UPDATE

1. EFTS UPDATE 2007 NAHSL Annual Meeting Woodstock, VT

2. EFTS STAFF • Evelyn Morgen, Director • Jackie Lewis, Program Manager • Jola Sliwinski, Program Coordinator • Lucy Piechowski, Program Assistant • Steve Bazinet, Application Developer

3. EFTS Membership

4. EFTS Transactions

5. Since last we met… • Currency conversion • Travel • AC meetings • MARKETING • MOA change • New comments • Promo page

6. You already know the benefits… • EFTS saves $MONEY$ • EFTS saves TIME & PAPER • EFTS is EASY to use No more!

7. Take EFTS promotional items with you to meetings, workshops, etc. https://efts.uchc.edu/efts/Member/PromoMaterials.aspx?User=LIBID

8. EFTS: All That and a Bag of Chips or The Best Thing Since Sliced Bread Stephanie Griffin, Michael Campbell, Melanie Norton Interlibrary Loan and Document Delivery Department Health Sciences Library - University of North Carolina at Chapel Hill, Chapel Hill, NC ABSTRACT EFTS: Lending and Borrowing CONCLUSIONS • Despite the 3% transaction fee, joining and using EFTS has been worth the savings. • No waiting for invoices to arrive. • No lost paper invoices. • EFTS membership increases every month resulting in decrease check cutting, postage, and • processing fees. • In the time it takes to fold one invoice and put in into an envelope to mail, we can begin and complete our entire EFTS billing. It is fast!. . . and PAPERLESS and environmentally friendly. • On the off chance an EFTS library mistakenly gets an invoice, the charges can be manually billed through EFTS in a matter of a minute. Electronic Fund Transfer System (EFTS) was developed and implemented on a regional basis in 1996 at the University of Connecticut Health Center in Farmington. In August 2007, there were 1,191 EFTS participants from all 50 states, Canada and Mexico. In June 2003, the University of North Carolina at Chapel Hill Health Sciences Library started using EFTS at the encouragement of the National Library of Medicine and the Medical Library Association. There is a 3% fee on each transaction which is one of the reasons UNC-HSL was hesitant to join. Invoicing other libraries: Using the ILLiad Client and the ILLiad Billing Manager, we looked at the number of invoices sent to other libraries, 2002-2007. 2002: 582 (Library was under renovation) 2003: 1524 2004: 3336 2005: 1172 2006: 1576 2007: 1254 (Jan-Aug) Invoices from other libraries: Since we joined EFTS, there has been a significant decrease in the number of invoices we receive from other libraries. This saves staff time and approximately $30.00 per check processed. 2002: 563 invoices processed 2003: 515 invoices processed 2004: 258 invoices processed 2005: 127 Invoices processed 2006: 68 invoices processed 2007: 40 invoices processed (Jan-August) How jobs have changed: Before: Administrative Assistant, printed, verified, mailed or scanned invoices. Time: About 40 hours a month. Now: Administrative Assistant is taking on additional administrative jobs. The Interlibrary Loan Borrowing Specialist now generates the monthly EFTS report as well as the invoices. Time: 8 hours a month. It’s a Piece of Cake! Using the ILLiad Billing Manager and EFTS statistics, we looked at the number of libraries we billed through EFTS, 2002-2007. (EFTS bills per transaction, but for our purposes we are looking at the number of libraries billed instead of the transactions). 2002: 0 2003: 80 (partial year) 2004: 298 (first full year) 2005: 409 2006: 418 2007: 409 (Jan-Aug) From 2004 to 2006 there was an increase of EFTS billing of 40%. INTRODUCTION • Is using EFTS to pay for and to bill for Docline transactions financially worth it? We looked at 5 years (2002-2007) worth of invoicing statistics, job duties and workflow. The first year evaluated (2002) is prior to using EFTS and the last 4 years will include EFTS transactions. We also looked at job descriptions and how they have changed. • EFTS is similar to OCLC’s IFM. • No invoices are sent. • No checks are mailed. • Funds are transferred from one library’s account to another. • For academic medical libraries, refunds are often given due to the large amount of lending as opposed to borrowing. EFTS: It’s All That and a Bag of Chips! References: https://efts.uchc.edu/efts/Common/index.aspx Lewis, Jacqueline. The DOCLINE Electronic Funds Transfer System (EFTS). Journal of Interlibrary Loan, Document Delivery & Electronic Reserve 17(3) 2007. A “poster session” idea

9. Submit an article to your local newsletter or blog ...

10. Send a personal invitation: Won’t You Join Us? The Electronic Funds Transfer System (EFTS) staff and offices are based at the University of Connecticut Health Center Library, and serve as a billing component for DOCLINE transactions and other transactions.  EFTS saves time and money for its participants. There are over 1200 institutional participants, including the National Library of Medicine, who enjoy these benefits.  Participants outside the United States include institutions in Canada and Mexico. Recently, EFTS added a ‘currency conversion’ feature to its program making it easier for international participants to see exchange rates when conducting business with U.S. libraries. If your institution isn’t already a member of the Electronic Fund Transfer System (EFTS), it should be.  Please visit our site at:  https://efts.uchc.edu

11. Personal Contact

12. What the future holds… • Lending fee increase • New software platform/enhancements • Marketing, marketing, marketing!

13. Don’t Forget! • Logon, check your account • Review OTF, error log • LIBID on ALL correspondence –Identify yourself

14. EFTS contact info: • https://efts.uchc.edu • efts@uchc.edu • 866-561-5045 (toll free) • 860-679-4500 (direct) • 860-679-1305 (fax)

15. Thank you for your support and help!