Doculabs Knows Financial Services
Banks, investment management firms, and other financial services institutions face greater competition in acquiring and retaining customers, even as they are under greater pressure to reduce operational costs. In an uncertain and highly competitive market, financial services firms are looking for cost-effective ways to capture greater market share and increase customer retention.
You face a unique set of challenges for managing content:
- Heightened risk management and compliance concerns
- Heightened concern with the security of personally identifiable information (PII)
- New regulatory requirements, such as Dodd-Frank, that present compliance challenges
- Severe competition for market share, bringing greater pressures for multi-channel customer service to meet customer expectations
- Increased pressure to reduce time to market for new products and services
- Higher costs of maintaining diverse technology environments, following mergers and acquisitions
Doculabs has worked with financial services firms to help them use enterprise content management (ECM) technologies to provide more effective process management and to reduce the costs of regulatory compliance. We've also helped them streamline their technology infrastructures and reduce operating costs through system rationalization. Doculabs also works with firms to identify opportunities and to make the business case for robotic process automation (RPA) in financial services support functions, helping to automate these processes.
But more effective management of business content also helps organizations in the financial services sector collaborate on the development of new products and services, thereby improving time to market. We've advised numerous clients on the ECM technology applications that helped give them a competitive edge.
Financial services was one of the earliest adopters of ECM, but there are always new challenges: technology consolidation following M&A, the movement to mobile devices. And firms have to be able to meet these challenges to stay competitive.
James K. Watson, Jr., Doculabs, Inc.