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It’s Time Financial Advisers Adopted Digitization


There are a number of enterprises that are paper oriented. Studies and researches show that with every year the use of paper is going downward and businesses depend more on electronic information. Going paperless may seem a daunting task but with the help of an established data conversion service any critical information can be scanned and preserved in digital form. Paperless movement in your organization can not only save money and time but also ensure that all the data are safe as secure. The advent of electronic communication, document storage and management has made digitization easier and financial advisers are getting closer to the concept of paperless office to ensure streamlined functioning. However, there are some financial advisers who hesitate to take advantage of digital technology. They do not know how to apply the digital solutions or how to begin digitization.


Where to Apply Digital Technology

Financial advisers’ tasks are related to account opening and asset transfer and also include activities such as risk assessment, client communication, reporting, billing, tax reports etc. Adopting digitization provides intuitive digital workflow and also optimizes firms. It helps financial advisers to

  • Conduct online processes like opening accounts, rollovers, transfer of assets trading and alerts.
  • Communicate electronically using statements, tax forms,confirms and prospectuses.
  • Automate workflow and reporting like billing, data management and alerts.

EasyWays to Go Paperless

A swift shift from paper-based office to paperless office may be a difficult task. But the following steps make the transition as easy as possible.

  • A quick change to a paperless office and cutting down of paper use can affect the workflow of your business. So, find out the areas where there is not much paperwork involved and minimize paper use. Paperless process can provide benefits like save time, effort and environment.
  • Store all official data in digital form and keep a backup of all critical data. Archiving office data in digital form helps easy and quick internal reviews and external audits. Backing up important data on computer, external storage device or on cloud storage enables quick retrieval of data.
  • Business organizations have to deal with a lot of transactions that involve a lot of paperwork like sending cheques or printing purchase orders. Consider e- commerce transaction like online payment or direct deposits that are much faster and easier.
  • Invest in modern document management software that will replace filing cabinet.Choosing the software that connects your company to its documents is an important decision and there are several good ones available like Mfiles, FileHold Express, Dokmee etc.
  • Remove printers and copiers and replace them with centralized network printers so that the use of paper can be limited. Use password access systems to make printing secure. It is better to develop the habit of using emails or instant messaging programs among your employees. Use institute policies that restrict purchases of ink and toner for only approved devices.
  • Switch to digital storage systems like backup systems, automated online backup system, disk storage system. This makes accessing data easier.
  • Users should be able to file their original documents directly within the software they use to create them. Connect their Microsoft Office account or whatever other software you use.
  • Set goals for digitizing your data and minimize the use of paper. It is not possible to completely eliminate all paper in the office so set an initial goal to reduce the use of paper.


  • Improves efficiency: Instead of manual filing and searching, digitized files can be conveniently stored, managed and easily accessed.
  • Quick compliance reporting: E storage enables staffs to quickly access the documents needed to respond to even the most granular regulatory requests.
  • Save time: Technology makes it easier to complete all the necessary documents online and even have clients sign them electronically.
  • Flexibility: Advisers and staff can accomplish what they need to with digitized files and can access it anytime from anywhere.
  • Minimize errors: The technology is also designed to catch mistakes and allow them to be resolved online before the form is submitted.
  • Better client experience: With easier access to data and seamless workflow, enterprises can provide better client experience.

Outsourcing document scanning to a professional data conversion service helps in converting all vital documents into digital format according to the needs of the organization. They ensure high quality data with utmost accuracy at affordable rates within quick turnaround time.

About Julie Clements

Julie Clements

Joined the MOS team in March of 2008. Julie Clements has background in the healthcare staffing arena; as well as 6 years as Director of Sales and Marketing at a 4 star resort. Julie was instrumental in the creation of the medical record review division (and new web site); and has especially grown this division along with data conversion of all kinds.