Treeno’s EDM Offers More than Just Document Storage for Financial Services

Busy financial services firms looking for ways to increase productivity, create new efficiencies and ultimately provide better client service should embrace technology solutions designed to help them meet those goals. Treeno Software’s Electronic Document Management (EDM) solution can streamline operations while helping firms meet their regulatory compliance requirements.

If you think that the EDM solution is just a tool for storing and managing electronic documents, think again. While secure, easy electronic document storage and retention is an important part of the EDM solution, there’s much more functionality financial firms can leverage. Here are some of the many applications for Treeno’s EDM product when implemented in a financial services organization:

  • Account setup process. Leveraging the automated workflows in the EDM solution can help you set up new client accounts faster. Rather than mailing or faxing new account paperwork to your operations team for processing, your advisors and their staff can use workflows. Not only can this speed up the process; it also lets your advisors and their supervisors know where applications and new account documents are at any moment. This transparency can eliminate backlogs in processing while eliminating the need for advisors to contact the new account team to find out where their clients’ documents are in the process. If additional information is needed, the new accounts processor can re-route the application back to the advisor with comments.
  • Advertising and sales literature approvals. Financial firms often struggle with how to efficiently meet regulatory and firm requirements related to the review and approval of advertisements, seminar scripts and invitations, form letters, brochures, and other communications with the public. Using Treeno’s EDM workflows can simplify the process. Submitters will be able to check to see if their materials are still in the review queue, or if they’ve been approved or returned for revisions. The system can provide email notifications to users, alerting them to status changes for their submissions. When the compliance department needs to provide reports to regulators, they’ll be able to easily generate such reports and pull any requested documents, because Treeno EDM’s workflows provide an easy audit trail.
  • Blotter and correspondence reviews. For broker-dealer firms that need ways to review sales blotters and correspondence logs, Treeno’s EDM solution offers an answer. Automated workflows enable supervisors or compliance reviewers to review records and document their actions quickly and easily.
  • Gift & gratuity logs. Financial firms must avoid the potential conflicts of interest that can arise when an employee accepts a gift or entertainment. Treeno Software’s EDM tool can make it easy for the compliance department to keep track of employee gifts and entertainment approval requests to ensure they meet both firm and industry requirements.
  • Pay-to-play approvals. Similarly, firms must ensure their employees are in compliance with “pay-to-play” rules governing political contributions. Trying to track such records and approvals using paper forms can be an administrative nightmare. Fortunately, using automated workflows can help make it easy to ensure and document compliance.
  • Expense reimbursements. Finally, Treeno EDM also offers solutions designed to help the accounting department operate more efficiently. By automating expense reimbursement reports, employees can get their reimbursements faster and accounting and finance staff can track and manage report requests more easily.
  • Treeno’s EDM Solution Goes Beyond Electronic Documents. As you can see, while electronic documents are a key part of the EDM solution, there are also enormous benefits to be had from using the automated workflow tools that come with the product. These workflows can be configured to meet your firm’s specific needs, helping give you the edge you need.

To learn more, contact Treeno Software today.