What are the Challenges Faced by Financial Institutions in absence of a DMS?
A financial institution is a unit engaged in dealing with financial transactions such as deposits, loans, investment, currency exchange, etc. A broad range of businesses, namely, banks, insurance companies, investment dealers, etc. fall under this category.
These institutions play a crucial role in the economy—in the form of banking, insurance, or securities markets by facilitating the flow of money and aiding individuals to manage their financial affairs easily. But running these institutions is not as easy as it appears!
This is because financial institutions involve a myriad of operations that demand utmost precision and accuracy. Besides managing the movement of money, these organizations need to manage
- data of financial transactions of thousands of customers
- legal documents and
- compliance reports.
All the transactions are also required to be documented as records for future reference.
This industry thus heavily generates numerous document types and their infinite records, all requiring secured and efficient management. Traditional document management system can’t meet the evolving needs of this highly regulated industry. A web-based Document Management System that is easy to use, offers accessibility and is high on features is the need of the hour and QualityPro DMS fits the bill perfectly.
How Does DMS For Financial Institutions Help Address These Challenges?
QualityPro DMS is a document management system designed to store, organize, and manage all the business-critical documents in a digital format. It serves as a centralized repository for documents allowing users to create, collaborate, search, retrieve, and track documents in an efficient way.
This cloud-based digital platform allows users to manage the complete lifecycle of documents that too in a controlled and secured environment over the cloud. This makes them accessible from anywhere and through any device.
The implementation of this DMS can serve as a strategic asset for financial institutions, guaranteeing compliance, strengthening data security, and improving operational efficiency. Simultaneously, it diminishes risks, builds customer trust, and streamlines the audit process.
Explore the unparalleled features of this DMS Software for Financial Institutions
Quickly create a new document from scratch or scan and attach the existing ones, along with facilitating easy categorization based on file type, data type, etc.
Helps manage numerous versions of documents along with maintaining a log of who made the changes and when.
Tracks and maintains the complete audit trail of all the document related activities happening within the organization.
Enforcing document access control via passwords and ensuring role-based access is a prominent feature of this DMS.
Easily index and search documents by applying relevant metatags and metadata, allowing for efficient retrieval from the document library using different search terms and applicable tags.
Use the check-in/check-out system to capture changes and facilitate smart collaboration while preventing overwriting.
Implement approval workflow for critical and important documents before making them an officially released version. At any point in time, approve, cancel, and reject the document before release.
Customize pre-defined folders to your requirements, including assigning individual access rights.
Explore the unparalleled features of this DMS Software for Financial Institutions
Quickly create a new document from scratch or scan and attach the existing ones, along with facilitating easy categorization based on file type, data type, etc.
Helps manage numerous versions of documents along with maintaining a log of who made the changes and when.
Track and maintain the complete audit trail of all the document related activities happening within the organization.
Enforcing document access control via passwords and ensuring role-based access is a prominent feature of this DMS.
Easily index and search documents by applying relevant metatags and metadata, allowing for efficient retrieval from the document library using different search terms and applicable tags.
Use the check-in/check-out system to capture changes and facilitate smart collaboration while preventing overwriting.
Implement approval workflow for critical and important documents before making them an officially released version. At any point in time, approve, cancel, and reject the document before release
Customize pre-defined folders to your requirements, including assigning individual access rights.
Why Choose QualityPro DMS for Financial Institutions?
Implementing QualityPro DMS solution benefits financial institutions in numerous ways-
- Easy-to-use Interface: Navigating the user-friendly interface of QualityPro DMS doesn't require technical expertise. It’s easy. It’s clear. It’s intuitive.
- Web-Based Solution: Besides ensuring low-cost implementation, the web-based version offers accessibility, collaboration, and real-time tracking of quality-related activities. Moreover, automated updates keep businesses in-line with latest norms.
- Customizable Fields: Thoughtfully built to unique data needs, QualityPro offers customization of fields as per company’s policy.
- Fast and easy Implementation: QualityPro provides the flexibility of dual implementation modes—Self and Vendor Guided—allowing users to choose according to their preferences.
- Any Business Size: Caters to the requirements of companies of any size including small startups, medium and large enterprises belonging to any industry- process, discrete, manufacturing, non-profits, automotive, electronics and more.
- Scalability: Effortlessly meet the needs incepted by the growth of your organization as QualityPro can scale as you grow and expand.
- Flexible and Secure: Completely secured with authenticated logins, encrypted data, best-of-breed security systems, 3-tier backup, and recovery plan, etc., so that you are in peace, always!
