We use a product called Identification Manager by PBiz, Inc. It is primarily a CIP tool, but they do have a very nice OFAC tool integrated into it as well. It automatically does OFAC when we do CIP. It also has the capability to do batch OFAC searches so you can run your complete customer file, or any file such as accounts payable. What is really neat about it is their OFAC Auto Attendent that reviews all the names that you have done OFAC on each time the OFAC is updated and e-mails you to alert you if a someone you have searched on has been added to the list. They also have a 314a search utility. One of the best features is that it is web based and the records are all stored and are retrievable electronically via the internet - no software maintenance fees.
I know I sound like a commercial for them, but we are very happy with the product. If you send me a private message, I would be happy to give you my contact for more information.
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