2018 WealthManagement.com Industry Award Winner
From onboarding new clients to hiring new talent, financial advisory firms deal in an overwhelming amount of paperwork. To reduce the hours and resources that go into managing that paperwork, Laserfiche, a California-based enterprise content management firm, aims to help firms go paperless.
“In today’s atmosphere, to run a viable and fast-growing firm, you need smart technology,” says Linda Ding, the company’s director of strategic marketing. “Clients have great digital expectations on the front end—they expect 24/7 access to information. And on the back end, advisors need to have automated workflow and reporting technology to optimize operational efficiency.”
To help firms streamline their document-heavy tasks, Laserfiche has developed and rolled out Workflow, a software product that automates business processes. The software helps advisors achieve greater productivity, improve communication with clients and ensure fiduciary compliance to help them grow their business.
Workflow helps advisors tackle routine tasks such as automatically naming and filing documents, synchronizing databases, routing documents for approval, and sending employees email notifications about unfinished work.
Ding says Laserfiche, the 32-year-old company behind Workflow, has seen firms of all sizes achieve success with the software. The product is more than a digital filing cabinet, she says. “It’s a full-fledged support system for a firm’s digital transformation—something more and more companies are realizing is a professional necessity.”
One of the product’s advantages is its high ease of use, says Ding, noting that the firms don’t have to worry about training advisors or clients to use the software because of its user-friendly and highly intuitive design.
Another key benefit to using Workflow, Ding says, is it helps keep firms in line with fiduciary responsibilities—a paramount component of the advisory business that demands excellent care and leaves little room for costly mistakes.
