Financial Document Management in Ontario: Pension Funds do More with Less

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Financial Document Management in Ontario
Pension Funds Do More with Less

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Financial Document Management in Ontario

• Financial document management in Ontario,
  especially involving pension funds, must deal
  with the constant challenges of reducing risk and
  increasing accountability. By replacing
  inefficient paper processes, pension funds can do
  more with less. Automated document management
  and workflow reduces costs, eliminates error,
  ensures compliance, decreases risks, improves
  reporting, saves timeand the list goes on.

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Challenges with Pension Fund Document Management

• Pension funds today face constant hurdles with
  document management in Ontario. These barriers
  keep businesses from operating at peak
  performance levels. If your company experiences
  any of the following, you should explore the
  possibilities with document management as it
  applies directly to pension funds.

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Challenges with Pension Fund Document Management

• Manual processes. Do you manually handle member
  documentation? Is information being double or
  tripled keyed into your system?
•  
• Paper-based processes. Do you route paper
  documents to accomplish pension fund related
  tasks? Are forms and applications getting lost
  in the current process? Do you require extra
  space and containers for paper filing?
•  
• Reporting and analysis. Can you view member
  history? Is it easy to determine needed updates
  or whether documents are missing?

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Financial Document Management in Ontario Solutions

• Pension funds must manage all aspect of members
  files. They routinely perform tasks associated
  with each file to maintain currency. To
  streamline the process as much as possible,
  pension funds need to look for solutions that
  simplify information management.
• All organizations managing pension funds will
  benefit from financial document management in
  Ontario. The benefits are far-reaching and
  include
•  
• Increased member satisfaction. An improved
  claims process means happier members.
  Decreasing the time to process a claim is an
  important aspect of good member service. Better
  communication regarding pension fund updates and
  other pertinent information also helps provide
  better service to members. Plus, you can
  follow-up in real-time to member issues.

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Financial Document Management in Ontario Solutions

• Enhanced efficiency. Financial document
  management in Ontario greatly improves all
  associated processes. By using secure online
  forms, duplicated data entry is eliminated.
  Member information is always current and remains
  available in real time.
•  
• Eliminating paper from pension fund document
  processes is a major factor in producing real
  benefits. Document management in Ontario
  provides a substantial reduction in data entry
  and scanning technologies provide the fastest
  processing available. Accuracy in data is
  greatly improved and reliable.

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Financial Document Management in Ontario Solutions

• Cost reductions. A document management system
  will eliminate many processes that contribute to
  increased costs. For example, errors associated
  with paper processes go by the way side. Labor
  costs as they pertain to capturing and indexing
  documents are eliminated. And, no additional
  staff is required to accommodate periodic
  increases in workload.
•  
• Better visibility. Since documents are scanned
  and managed digitally, users have improved access
  to information. Analysis and sorting is done
  automatically. Viewing of pensioner files from
  any location is fast, easy and secure. You can
  easily search for information needed through
  online capabilities.

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Financial Document Management in Ontario Solutions

• Reduced risks. Financial document management in
  Ontario creates a secure flow of member files and
  images. Increased security with member documents
  ensures regulatory compliance. With document
  management solutions, you protect and control
  your data. By maintaining version controls,
  youve got an accurate audit trail.
•  
• Financial document management in Ontario makes
  perfect sense for pension funds. By automating
  associated processes, pension funds capitalize on
  productivity gains and cost reductions. Equally
  important, document management allows pension
  funds to comply with government regulations. All
  these benefits translate into a really satisfied
  member base!

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About the Author

• Kevin D'Arcy is VP of Sales and Marketing for
  MES Hybrid Document Systems, Ontario's leading
  document scanning and document management
  supplier. For more information about financial
  document management in Ontario, visit
  www.mesltd.ca today!