Overview
Is Your Firm Drowning In A Sea of Paper?
Financial firms face high operational costs from the inefficiencies associated with document-heavy processes such as employee and account onboarding, compliance and exception handling. In many firms, the problem is exacerbated because employees use email as a workflow and document management tool to manage processes. While email is ubiquitous, inexpensive and easy to use, it lacks important features, making it a poor choice for managing document-heavy workflows.
- Are you struggling with the high costs, inefficiencies and lack of transparency inherent with document-heavy processes?
- Can you produce an audit trail for regulatory reporting?
- Are you having difficulties collaborating with customers and partners?
XTRAC Enables The Paperless Office
XTRAC Document Processing Service is a suite of document and workflow management services that provide tracking, routing and control across your entire document processing lifecycle. While XTRAC can be applied to any document-heavy process that requires review, approval and auditing, it is well suited to replace workflows that rely upon email.
Immediate Benefits with XTRAC
XTRAC enables the paperless office by digitizing historical and new information. XTRAC Document Processing Service:
- Lowers document handling costs by significantly reducing the amount of paper sent between parties
- Provides an audit trail of compliance with written supervisory procedures reducing regulatory risk
- Improves visibility of end-to-end processes, speeding decision-making
- Improves collaboration and communication internally and with clients and third parties
- Reduces process bottlenecks, manual processing errors and NIGO (“not in good order”) rates, shortening transaction completion time
- Decreases staffing requirements through automation
- Eliminates large upfront technology investments through a user-based monthly pricing model