Customer Communications Management Challenges for Wealth Management Firms

Providing Personalized, Automated Communications to Engage Clients

Global economic conditions and tighter regulatory standards have contributed to a more complex and challenging landscape for the investment industry. As a result, Wealth Management firms need to spend more time than ever on core deliverables such as market trend analysis and building wealth for their clients. But firms must also balance these tasks against their perennial need to improve the quality and speed of client services. One clear way to achieve client satisfaction is to make an excellent impression with a best-in-class client onboarding experience, then follow this with targeted, engaging client communications across all channels, while also ensuring that staff and clients can immediately access these documents when and where they are required.

With Doxim’s Customer Communications Management (CCM) suite, you can make that first impression count, and then build loyalty throughout the client lifecycle. And, because the whole client communication process is automated and optimized, firms have more time to focus on other initiatives, knowing their trade confirmations, month-end statements, tax forms and other client communications, which are crucial symbols of industry compliance and trust, are being distributed accurately, speedily and efficiently, month in and month out.

The Doxim Difference

Doxim helps you to focus more time on your clients while we focus on the documents. Over the years we’ve developed a powerful combination of excellent communications management tools, affordable pricing and the print and letter shop capabilities needed to meet and exceed your clients’ expectations. It means that we can facilitate the efficient distribution of business critical documents for you. And the fact that we can automate and optimize your print and mail processes and provide electronic document access too means we can save you money in the process.

Our software tools are built specifically to provide the multi-channel processing and delivery services that investment firms need —enabling you to deliver cost-effective services via your operations infrastructure. Our deep domain expertise and extensive experience with hundreds project rollouts means that the adoption of Doxim technology within your firm will be smooth, efficient and cost effective.

How We Can Help

Doxim is a leading provider Customer Communications Management solutions for investment firms. Doxim’s flexible, scalable SaaS CCM suite provides a significant value proposition to our customers in the wealth management sector, as it improves the client experience, significantly reduces costs, improves efficiencies, improves compliance and automates paper & content intensive processes.

Business Process Management for Wealth Management Firms

OpenAdvantage®, Doxim’s Business Process Management (BPM) platform, allows wealth management firms to manage costs and increase client service levels by bringing business critical processes, from client on-boarding and internal process workflows to account management and maintenance, online. This helps wealth management firms with process analysis, automation, and transformation thus increasing collaboration across business and technical teams.

Automating a key client-facing process like client onboarding can create a great first impression while also reducing rework and NIGO rates, immediately offering other benefits like a reduction in operational costs and new client onboarding times, as well as a dramatic reduction in abandonment rates.

Key advantages of client onboarding automation include:

  • Accelerate the speed of client onboarding
  • Maximize the revenue and relationship potential of every new client
  • Accelerate account updates
  • Reduce time spent on administrative duties
  • Eliminate manual, error prone processes
  • Reduce cost per account open: training, labor, transportation and other overhead costs
  • Reduce abandonment rates
  • Improve compliance, security and document management practices

Document Creation for Wealth Management Firms

A key component of our CCM suite, DDF is a complete, end-to-end solution for document processing including data queuing, transformation, document composition, electronic bundling, routing, preference management and more, enabling stringent financial services compliance & reporting. With the economies of cloud computing built right in, DDF is designed to meet the ever increasing CCM requirements of today’s leading wealth management firms, allowing you to provide top-notch communications to your clients at every touch point.

This complete solution for document composition and output offers benefits like:

  • Data transformation and advanced document composition – Enables a whole new world of statement look and feel
  • Output Management – Streamlines final job delivery to print, FTP or archive
  • Preference and Data Override – Enrich your legacy data stream with external data

Doxim Enterprise Content Manager

As the online repository for all documents generated by our CCM suite, Doxim Enterprise Content Manager (ECM) offers a web-based alternative to printing and mailing documents such trade confirmations, month-end statements, tax forms and other client communications. An important part of any green initiative, as well as an effective disaster recovery and business continuity strategy, Doxim ECM also enables compliance with stringent regulatory obligations.

Doxim ECM enables wealth management firms to:

  • Streamline how content is stored, shared and accessed across all departments
  • Speed up operations and increase employee productivity, while reducing costs
  • Improve client service levels and increase client interaction via self-service capabilities
  • Ensure content security and access rules are aligned with regulatory mandates
  • Contribute effectively to corporate environmental strategies

Find out more about our CCM platforms – Doxim OpenAdvantage®, DDF and Doxim ECM

Doxim OpenAdvantage® for Business Process Management
Doxim Document Factory
Doxim Enterprise Content Manager

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