Doxim Inc., North America’s leading provider of web-based eStatement, enhanced statement, document imaging and Enterprise Content Management solutions for financial service providers, today announced the launch of a new Paperless Reports Service – Doxim eReports.
Financial Service Providers receive hundreds of reports from their banking/brokerage platforms every day, many of which need to be reviewed by branch staff. This means they need to be printed, reviewed, signed-off and then placed into hard copy storage for future access. This time-consuming and tedious process is repeated on a daily basis at most branches of every organisation. The monthly cost, in terms of staff time spent printing, distributing and physically filing each report is substantial, as is the cost to print them.
In addition these system generated reports are often difficult if not impossible to read in their raw format. This means that every report needs to be reformatted prior to printing and review, adding more cost and effort to the process.
Manual report management processes also engender issues with document security and audit. From a security and privacy perspective they do not facilitate access control, meaning staff can view reports that they are not authorized to see (e.g. GL and accounting reports). From an audit perspective two key issues exist:
- There is no way to empirically demonstrate that a given report was actually reviewed when it was required vs., for example, being reviewed in retrospect, perhaps just prior to an audit.
- The effort to pull together all the paper reports required when an audit does occur, is time consuming and expensive.
“At Doxim we are continually looking for ways to help our clients streamline their paper intensive processes” says Chris Rasmussen, President and CEO at Doxim. “This new eReports service is a perfect example. Not only does it help cut costs significantly, it also helps to greatly speed up with daily report processing, releasing key staff to focus on other tasks.”
Chris Rasmussen, President & CEO, Doxim
Doxim Inc. provides a full suite of enterprise content management products and services that together provide a web-based alternative to the printing and mailing of customer-centric documents such as statements, reports, client records, cheque images and transaction records. Doxim serves the financial services provider marketplace across North America, with over 300 clients in banking, credit unions and wealth management. These organizations work with Doxim to improve their client communications, streamline document access, meet compliance requirements, and reduce the expense, work effort and environmental impact associated with the creation, delivery and archiving of business critical documents. Doxim is a SAS 70 and CICA 5970 certified organization. Find out more at www.doxim.com.
V.P. Marketing, Doxim Inc.