FINANCIAL SERVICES
Automated Document Processing Solutions
Benefits of CASO's Automated Processing Solutions
Workflow Solutions for Financial Services
Benefits of CASO's Workflow Solutions
Sarbanes-Oxley Compliance
DOCUMENT SOLUTIONS FOR FINANCIAL SERVICES
Successful financial institutions have long recognized that their electronic document management system (EDMS) is vital for processing the ever expanding volume of corporate-wide documentation faster, more efficiently and error-free.
CASO Inc. is the leader in document solutions for Financial Service firms. We continually research the newest imaging technologies and we are proud members of the Association for Information and Image Management, AIIM. Some of our esteemed clientele includes:
- Bank West Investment Services
- Citicorp Investment Services
- Citizens Bank
- Dreyfus Investment
- Banc of America Securities
- Mellon Bank
When it comes to integrating the latest EDMS technology for financial service functions, companies typically have two choices:
- Implement a new (or enhance a core) document management solution
- Integrate document imaging and management technology with the current workflow system
Whether you need a fast departmental solution, an enterprise-wide solution or even an outsourced records management solution, CASO delivers the optimal solution for banking, securities and investments, mortgage, real estate and insurance.
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Automated Document Processing Solutions
CASO understands that your document needs may become more complex over time. By applying automated document technology, companies will benefit from higher employee productivity, reduced processing times, shortened payback period and increased ROI, in addition to the extensive support CASO provides through each stage of the transition process.
Using Best of Breed from Kofax, we offer two document capture solutions that can satisfy your evolving document management needs - now and in the future.
Solution #1: Imaging
The most basic automation solution is to simply convert your paper documents into images and archive them in your content management system. Imaging can also automatically read a single value such as an account number, for fast and accurate data retrieval from your new or existing solution. The benefits of Imaging include:
- Retrieve any document in seconds rather than in hours or even days
- Reduces paper handling time and reduces liability associated with the loss of critical records
- Removes the "retrieval burden" from the operations department
- Authorized departments and auditors can retrieve documentation themselves
- Reduces the need for on-site storage space
Processing goes beyond imaging and allows for the automatic input and validation of several data fields in your document process. Data entry time is reduced dramatically and information can be delivered into your archive system in a fraction of the time. The benefits of Processing include:
- Dramatically reduces data entry time and effort
- Substantially improves accuracy over manual data entry
- Automatically captures several data values from integrated databases
- Can load data and images into several systems simultaneously
Benefits of CASO's Automated Processing Solutions
CASO's automated document processing solutions provide additional time-and money-savings benefits:
- Faster, More Efficient Processing
- Documentation can be processed on the day received, regardless of the volume.
- High powered scanner automatically records the carton and batch number, date received and account number.
- Document type and important data can be delivered quickly to your online archival and retrieval systems - with minimal manual data entry (indexing).
- Minimize Document Retrieval Time
- Your Operations team won't waste time locating and retrieving documents from file cabinets.
- Documents are classified for easy retrieval in an electronic archive system.
- Other departments can retrieve files themselves instead of tying up your operations personnel.
- Documents are available for retrieval in seconds - not hours or days - and can be viewed by several users simultaneously.
- Never Loss a New Client Again
- Account opening documents are routed immediately to the Opening department for timely opening.
- Even the Sales Rep can tracking the status of electronic document keeping the customer informed
- Create An Auditable Process Trail
- As they're scanned, each batch of documents is electronically dated
- A record of all processing is maintained for future inquiries.
Workflow Solutions for Account Documentation
CASO's Enterprise Content Management (ECM) solutions can provide businesses significant savings by streamlining and automating much of paperwork that operations, sales, accounting and other departments must effectively process.
Our Certified Document Imaging Architects (CDIA+) develop successful solutions for organizations in virtually every line of business including finance, law, education, healthcare, manufacturing, and telecommunications.
CASO can assist companies to achieve 30-40% productivity improvement over traditional manual processing methods. Paper is scanned and maintained online for easier retrieval, faster distribution (internally and to customers), and more cost-effective archiving.
4-Steps Online to Workflow
CASO provides a comprehensive software solution that automates and simplifies the process from data capture to review and approval.
- Step One - Data Capture: Documents are captured via scanning, electronic import or e-mail and routed online for initial processing. Advanced forms processing software uses OCR to populate many of the fields.
- Step Two - Coding: The codes for each document can be loaded from existing systems and selected via pull-down dialog boxes for faster processing.
- Step Three - Routing: Once the document has been coded, it is routed online to the approver who can digitally approve or reject the document. The document can then be routed online to other levels for approval.
- Step Four - Approval/Final Process: Upon final approval, the system updates the external customer profile system or ERP with specific document coding instructions. A summary report is created and attached to the image for storage in CASO's Online Document Access system. In addition, an index record is created for each multiple indexed document, including accounts, approval authority.
Benefits of CASO's Workflow Solutions
CASO's Document Processing solutions provide a host of other benefits, including:
- Streamlined approval process by automated routing.
- Reduced data entry (i.e. e-keying information) by incorporating front-end document capture technology.
- Leveraging technology investments through the seamless integration with enterprise business applications.
- Reduced processing costs
Sarbanes-Oxley Compliance
A newer challenge to chief executives and financial officers is the Sarbanes-Oxley Act that could impose criminal penalties for non-compliance. This legislation requires that all documents relating to an audit must be retained for seven years. Related documents include all paper and electronic records created, sent or received in the course of an audit, and work papers containing conclusions, opinions, analysis or financial data pertaining to an audit or review.
CASO's extensive online archival and data retrieval capabilities make it easier and more cost-effective for companies to comply with Sarbanes–Oxley.
All audit-related documents can be stored in our Online Document Access system and retrieved electronically when needed. Advanced security precautions, such as password-only access and advanced encryption technology, ensure the safety and integrity of all company data.
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