How to Manage Documents and Finances

Control Documents and Financials

Financial documents are vital regardless of whether you run a business or manage personal paperwork. In many cases you will need to track assets, liabilities and adhere to regulations and standards. The key is to keep records organized which can be difficult when you’re juggling numerous papers as well as email inboxes and other places.

You can cut down on time by establishing a system to keep financial documents in a safe place. This is particularly beneficial during tax season. A classifier folder with pocket dividers can be an effective way to organize paperwork by kind, such as invoices, receipts and bank statements. You might also need a fire-proof or safe cabinet for storing original, hard-to-replace physical documents like wills, powers of attorney and documents for investment.

A document management software like FileCenter allows financial organizations to convert paper into digital files and combine the files in a unified and secure location. The data is then immediately accessible to authorized personnel through a multifunction device. Files are logically indexed and time-stamped, making it simple to comply with standards of compliance such as SOX, FRCP, SEC, IRS and Graham-Leach-Bliley. Workflows and alerts are automated to allow personnel to route, review and organize documents in line with documented procedures. A secure system makes sure that only authorized users have access. This enables financial institutions to communicate with clients in purchase and sale agreement real-time and with precision. This will increase client trust and enable you to build long-lasting relationships.