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Efficient Information Management in the Finance Industry
In an on-demand financial world, ensuring swift and secure access to information can mean the difference between closing a deal and losing it.
The efficiency of information management is affected by a range of obstacles that can go unnoticed. These include document custody processes and regulatory requirements. Staying on top of these challenges is crucial. While good information management ensures staff are well resourced, more importantly, it satisfies today’s time-conscious clients.
Fortunately, solutions exist that take a multi-faceted approach to helping financial institutions improve their information storage and access.
Secure Information and Data
Many organisations are aware of where their document retention obligations end. However, most are unwilling to commit to sentencing schedules. The most common reason for this is that large companies often can’t be entirely sure what their archives contain. Especially if those archives date back to the pre-digital era.
Not utilising sentencing schedules is a security risk as important documents may be accidentally destroyed. Furthermore, it is also costly. From a liability perspective, the relatively small cost of ongoing storage is more than justified by eliminating security risks.
Corporate data breaches continue making headlines, creating reluctance among clients to trust financial companies with their information. Therefore, maintaining good sentencing practices is only the start of maintaining secure information management.
Outsourcing your information management to Grace offers tight security to protect confidentiality, especially while in transit. At Grace, we use a company owned fleet of tracked and secured vehicles to transport your documents. Once these documents arrive at one of our state of the art storage facilities, they are protected by strict security measures including 24/7 surveillance and alarm systems.
Speed of Information Management
Maintaining good sentencing practices is only part of the privacy picture. In addition, the cost of securely storing and transporting client data, both physical and electronic, adds up.
In-house physical archives require a high level of security on premises that is costly to maintain. Grace’s off-site archive storage solutions provide state of the art alarm systems, 24/7 CCTV surveillance, fire suppression, and onsite security staff. Additionally, we provide electronic inventory and tracking services, so you know where your files are at every stage of the process.
Keeping your information secure allows your company to meet compliance and prevent data breaches. Additionally, effective information management solutions will also save you time and money by making workflows and record retrieval more efficient.
Information management solutions are also designed to make your business processes run more smoothly. An efficient and automated workflow process helps to prevent risks associated with human error such as accidental file deletion or lost records due to insufficient tracking capabilities.
Smarter and Stronger Information Management
Trust Grace’s information management solutions to help you tackle the challenges of prolonged retention, security risk and time lost in discovery. Our experienced professionals make it a priority to understand the legislative environment affecting your business. Thus, we’re able to keep track of your stored information, setting up retention and sentencing schedules. This means we can ensure your documents are destroyed as soon as they reach the end of their lifespan. Furthermore, we can provide you with proof of destruction so you can prove your compliance in an official audit.
Grace has more than 50 years’ experience working in the information management industry. This provides us with the expertise to craft bespoke solutions for your information management needs. We create tailored retention schedules and workflow processes which integrate into your own systems to ensure seamless management all round.
Our secure company-owned fleet and police checked workforce ensures the security of your information at every stage of the process. The interfaces we use when digitising and managing your records is intuitive and responsive, with indexing that integrates seamlessly with that of your own. Grace solutions make searching for records faster and eliminates the need for document reformatting.
|Download our report, Record Profits for information on how addressing the information management speed bumps in the finance industry can help your business profit.|
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