How to Manage Documents and Finances

Control Documents and Financials

Financial documents are crucial, whether you’re running a company or handling personal paperwork. In many cases, you may need to track assets and liabilities and abide with the rules and regulations. The key is to keep records in order and this can be a challenge when you’re managing multiple paper files, email inboxes and other locations.

Creating a system for filing and storing financial documents will make it easier for you to save time when searching for important documents, which is particularly helpful when tax time approaches. A compartmentalized folder with pockets can be a good solution to organize paperwork, like bank statements, invoices, and receipts. You may also need to invest in a fire-proof or secure file cabinet to save original records that are difficult to replace, such as investment documents, wills, powers of attorney, and other important documents.

A document management system such as FileCenter allows financial institutions to convert paper into digital files and store them into a single, secure location. The information is immediately accessible to authorized personnel through an multi-function device. Documents are logically indexed and time-stamped to help to adhere to compliance standards like SOX, FRCP and Graham-Leach-Bliley. Workflows and alerts are automated to allow staff to route, review and organize documents in line with documented processes. Additionally an efficient security system makes sure that only authorized users have access to information. This enables financial institutions to be able to respond to clients in real-time and with precision. This will help you establish relationships with clients and increase their trust.

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