How to Manage Documents and Finances

Control Finances and Documents

Financial documents are crucial regardless of whether you’re running a company or managing your personal paperwork. In many cases, you may need to track the assets and liabilities, and also comply with the regulations and standards. It is essential to keep your records in order. This can be difficult when you have a variety of documents emails, files, and other locations.

Making a system for storing and filing financial papers can make it easier for you to save time when searching for important documents, which is especially useful when tax season rolls around. A classification folder with pockets dividers is an effective way to organize documents by kind, such as receipts, invoices, and bank statements. You might also need a safe or fire-resistant file cabinet for storing original, hard to replace physical documents, like wills, power of attorney and documents for investment.

A document management system like FileCenter lets financial institutions convert paper documents into digital files and then combine them in a single and secure location. The information is accessible immediately by authorized personnel via multi-function devices. Files are logically organized, and time-stamped to make it easier to meet compliance standards such as SOX, FRCP and Graham-Leach-Bliley. Automated workflows and alerts are also available to allow staff to route, certify and manage documents based on documented procedures. A secure system makes sure that only authorized users have access to information. All of this allows financial institutions to respond to clients in real-time and with accuracy. This can increase trust among customers and enable you to build long-lasting relationships with your clients.