Paperless Offices and Document Management

2 replies [Last post]
staffwriter2's picture
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Joined: 2007-07-27

Hi everyone, I am a staff writer for RR mag. I wrote a newsletter about "paperless" offices and document management, http://registeredrep.com/wealthmanagement/cost_of_paper_02_27_2008/
 
I am working on a story that will go into greater detail about how to go paperless, some issues to consider, and some helpful resources (software, books, etc.) for advisors to use. 
 
So if you have used document management software or a resource that you found particularly useful, perhaps you wouldn't mind sharing it with me (off the record of course).
 
Also I would love to hear your stories of why and how you instituted digital document management (how long did it take, quantify your return on investment, or how it benefitted your business). Ever run into any compliance hurdles? And if you haven't considered a document management solution, why not?
 
Please keep in mind, RR mag writers appreciate your input and respect your privacy. Thanks

Broker24's picture
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Joined: 2006-10-12

I am at Edward Jones, and we now print VERY little paper:
1. All of our daily communications (i.e. rates, company news, etc.) used to print out automatically every night.  It's now all on a central news website.
2. We no longer get "broker" copies of trade confirms to save.  They are saved to PDF files.
3. We no longer have to print copies of client "sales" literateure (i.e. Morningstar Hypos, etc.).  We can save our office copy to PDF files.
4. We can scan all client documents (i.e. estate docs, statements, 401K statements, tax returns, etc.) and save as PDF's.  Then we give them back the originals.
 
Not sure how much it really saves, but you add the paper and toner costs, along with file folders, labels, etc. and it's significant.  I also have very little to file and store, don't need much storage space, minimal shredding needs.  We also no longer fax our signed client docs to our home office - we scan them, so we no longer have those fax charges (they are actually 800#'s, so it's the home office that saves $$).
 
It took very little time to implement - my admin just did the tutorial on scanning and document retention and away we went.
 
Hope this helps a little.

staffwriter2's picture
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Joined: 2007-07-27

Nice, that is helpful. Another thought I might throw out there is that there are so many software solutions for document management. Take this website for example http://www.capterra.com/document-management-software
I mean how do you sort through them and choose the right one?

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