How to Manage Documents and Finances

Manage Documents and Finances

Financial documents are important regardless of whether you manage a business or manage your personal paperwork. In many cases you’ll be required to keep track of your assets and liabilities and abide with standards and regulations. It is crucial to keep your records in order. This can be a challenge when you have a variety of documents or email accounts, as well as other locations.

It is possible to save time by creating a system that can file and store financial documents. This is especially useful during tax season. A compartmentalized folder with pockets is a good solution to organize paperwork, such as bank statements, receipts, and invoices. It is also possible to purchase a fire-resistant or secure filing cabinet to store the original documents that are difficult to replace, like documents for investment, wills, powers of attorney and other important documents.

A document management software like FileCenter allows financial institutions to convert paper documents into digital files, and combine them all in one unified and secure location. The information is immediately accessible to authorized personnel via an multi-function device. Files are logically indexed, and time-stamped, making it easier to meet compliance standards such as SOX, FRCP and Graham-Leach-Bliley. Workflows and alerts can be automated to allow employees to review, route and organize documents in accordance with documented procedures. Additionally an effective security system ensures only authorized users can access information. This allows financial institutions to be able to respond to clients in real-time and accurately. This helps you build relationships with clients and increase their confidence.

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