Document management is especially critical for the financial industry. Financial services firms, banks, securities and investments, mortgage, and insurance companies use documents on a daily basis that have sensitive personal and company information.
Efficiency and productivity are two of the most critical aspects of financial planning and financial management, not to mention compliance requirements with national regulations like Sarbanes-Oxley, Check 21 and individual state regulations.
To keep ahead of their competitors, financial institutions need to be fast, accurate, and ahead of the curve, which is why financial document scanning, document storage, and an integrated document management system can help.
Most financial organizations use paper documents for tasks that could be digitized, including tax returns, loan applications, appraisals, remote deposits, however, paper-based systems are very difficult to manage—and end up costing much more in time and labor than you might realize.
Our experts can help you manage your document workflow and processes better through effective document management.
Financial Document Scanning & Document Management
When converting your files to digital format, you can minimize upfront costs by starting small and adding features as you need them.
Financial document management is available to any industry, but Record Nations specializes in:
- Mortgage, Title and Insurance Companies
- Accounts Receivable/Accounts Payable Departments
- Escrow Companies
- Homeowners Insurance Companies
- Financial Institutions with mortgage and loan departments
- Any property related insurance policy carrier
Document systems provide immediate access to financial documents and client files. Your imaged documents are immediately available, allowing you to view, modify and search for them instantly. Here are just a few of the documents our experts recommend digitizing for your company:
- Delivery Tickets
- Purchase orders
- New Account Documents
- Signature Cards
- Loan Documents
- CD/Time Deposit Documents
- Personnel Files
- Accounting A/P Documents
We also offer day-forward and back file scanning services to help minimize the number of documents you have to scan immediately.
Record Nations’ Financial Scanning Services
Our contractor network offers top-of-the-line document imaging software and hardware to make sure your project is completed quickly and accurately.
The services our network offers are comprehensive and can be used for any industry. But we also offer several services that specifically benefit the financial industry, including:
Document Scanning for Remote Deposit
Find a service and web-based application that allows businesses and individuals to scan and deposit into banks or credit unions. Our solutions will allow you to connect with commercial remote deposit interfaces.
Signature and Data Extraction
Verify and extract data from various documentation, from signatures on checks or other banking documents to specific information related to trades, financial statements, and loan or mortgage applications with an easy-to-use digital document management system.
Automated Document Routing
If you have multiple departments that receive documentation sequentially, our automatic document routing service gives you the ability to route scanned and digital financial documents to the next step in the process quickly and easily. You can have any file scanned and routed instantly.
Utilizing optical character recognition, our local service providers allow you to input and edit invoices. You select the fields you would like to edit or populate automatically, and we’ll set up your document management system to index and import invoice number, date, dollar amount, and more.
Once all the data is populated and converted, you can use a simple keyword search to find any invoice quickly. All scanned documents can be uploaded to a specific computer or onto a cloud-based storage system.
Benefits of Scanning Your Financial Documents
Converting your documents to images through financial document scanning can streamline your processes, reduce risk, and increase efficiency and productivity over time.
Below are a few of the long-term benefits that can help your financial institution go paperless and manage your files, documents, and business information better.
Edit, Share and Store Your Records Easily
Electronic financial documents can be added and sorted in any way that makes sense for your employees and your business. Our experts will index and create editable fields on any file, giving you instant access through a keyword search. You’ll also have the ability to share, edit, and collaborate on any imaged document in your system.
Protect Against Natural Disasters
Digital documents are usually stored offsite, making backup and re-installation tremendously easy in the case of a fire, flood, or another natural disaster. Use a document management system to ensure your files are backed up and protected regardless of the situation.
Create Space and Reduce Storage Costs
Your paper files probably take up a whole room in your office. Document scanning services eliminate the costs of storing, copying, filing, and re-filing your files. Eliminate the risks of a low-tech hack and missing or lost files with electronic document management and storage.
Don’t waste time and valuable resources with paper records and filing cabinets. Use Record Nations to find an expert to help convert your records to digital and save time, space, and headaches related to hard-copy document management.
Get Free, No-Hassle Quotes on Document Management Services for the Financial Industry Today
Let Record Nations help streamline your processes through effective document management. We’ll connect you to a local provider that can scan any document or file, and provide you with an easy-to-manage system that allows you to find any loan, contract, or additional paperwork quickly and easily.
Virtually any document management service offers OCR conversion along with conversion to PDF, which makes editing, updating, managing, and distributing any file affordable and hassle-free.
To receive a free quote on scanning services in your area today, fill out the form, use our live chat feature, or give us a call at (866) 385-3706. Within minutes of receiving your request, you will have free quotes from experts in your area who can help you.