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Document Scanning Services for the Financial Industry

Traditionally speaking, the financial industry has been one of the staunchest supporters of paper-based record keeping, but that’s steadily changing in a world full of innovation and technology. If you want to keep ahead of the competition, you’ll definitely need to get on board with new document scanning services.

Document imaging services enable you to stay ahead of the changing trends and stay on top of the ever-growing need for compliance and regulation within the financial industry. Keep reading to learn more about the benefits of document scanning and electronic records management.

Protect Your Sensitive Data

In finances, information security is of the utmost importance. You’re subject to a host of regulations and compliance that dictates how you store and protect financial information. Your clients’ trust is also of concern here. While some would disagree, paper records are inherently insecure. They can be stolen, destroyed or accessed by the wrong people.

When you use a secure document scanning software to store your records, you’re choosing security and protection over anything else. You’ll be able to track transaction history, information disclosures, and user activity. You’ll get full, extensive audit trails. You’ll even get document preservation with built-in retention policies.

The data you store is encrypted and stored on servers in a location off-site so people without access won’t be able to access them. All in all, managing records electronically is the safest thing for you and your clientele.

Save Money through Customization

Purchasing and using an electronic records management system is inherently cost-effective. When you don’t need to maintain paper systems with extra employees and space, you’re saving money. On top of that, you’ll get to customize your document scanning services, so you only get the features you need.

You’ll also run on lower operating costs and you won’t need to pay for expensive hardware on which to run the software. Instead, the company that provides the service will run and maintain the servers for you, leading to needing fewer employees and lower upfront costs.

Integrate with Existing Applications

It’s frustrating to work with a million different software applications just to run your financial firm. While it’s necessary in some cases, you can close the gaps with document imaging services. You can use this software to connect with your accounting software, HR software and more. When you integrate all your applications with each other, you can improve your workflow processes and keep you competitive.

Improve Employee Efficiency

On top of integrating with all your existing applications, your new document scanning services can improve your employees’ efficiency in their daily job duties. With barcode and text recognition, you’ll be able to vastly speed up your indexing processes and other workflows.

Electronic document management systems keep all of your records stored in a single, centralized location. This allows you to access documents wherever and whenever you need to. When you have greater flexibility like this, you won’t be restricted in your work. Imagine eliminating the hassle of getting up from your desk to pull a physical copy of a document. This is one of the best benefits document scanning services can provide.

 

You can find additional information from Digitech Systems here: Financial Industry Brief