The Electronic Fund Transfer System (EFTS) is a transaction-based electronic library billing system originally developed by the University of Connecticut Health Center for interlibrary loan (ILL) and document delivery charges. Plans call for the system to be hosted by the Medical Library Association sometime in 2020, if enough member libraries opt in.
All DOCLINE libraries are encouraged to join.
The EFTS reduces the need to create invoices and to process reimbursement checks for interlibrary loans between participants. The EFTS provides monthly detailed transaction reports, the ability to handle differential charges (such as additional rush or fax charges), the ability to vary charges to members of special groups, and the ability to handle non-DOCLINE transactions.
The EFTS also:
- Reduces interlibrary loan associated costs and improves cash flow
- Assists with collection development monitoring
- Reduces human error and increases efficiency
- Provides management reports