Docupace – Context Study
Presented by Beacon Strategies, LLC/McCartan & Company
Business Development Contact:
Alan “G” Giancaterino
EVP, Enterprise Business Solutions
Docupace’s cybersecurity, document management and workflow solutions simplify the process of capturing, organizing, routing and accessing information for Broker-Dealers and RIAs that, under new DOL rules, must keep thorough, secure records of documents that explain how they formulated recommendations that are in the best interests of investors. Docupace’s innovative products have been proven to significantly reduce not-in-good-order (NIGO) conditions on document processing submissions for financial services companies.
Founded in 2002 as the industry’s first entirely cloud-based electronic document management solution provider, the company went on to develop the industry’s first web-based, SEC/FINRA compliant, Straight-through Processing (STP) platform in 2005. Docupace has an unparalleled track record of securing documents and data containing PII & SPI without experiencing a single security breach, loss of data, power outage or internet outage for more than 9-years straight. Docupace currently services over 1 billion stored documents from more than 600 BDs and RIAs. For more information, please visit www.docupace.com and follow @docupace (https://twitter.com/docupace).
Docupace boasts an executive team primarily comprised of former Broker Dealer & RIA senior executives. With more 300-years of collective industry experience, their grasp of the challenges facing our industry and how to solve them provides firms with robust, turn-key solutions that have unmatched affordability. Familiar names like Michael Pinsker, Tom Embrogno, Kevin Laraia, Alan G., and many others help firms get a great ROI on their Docupace investment while helping them tackle mission-critical operational and compliance challenges facing their firms.
The Docupace ePACS Productivity Suite and Cyber Security Services provide a powerful, modular set of solutions that are tailored to a firm’s business requirements and budget:
Next-Gen Evolution of Products and Services:
Recognizing that Broker Dealers and RIAs are operating in a low-margin, higher compliance cost environment, Docupace is continually innovating solutions that allow firms to scale more profitably and more compliantly. Our next-gen suite of self-service products to be introduced later in 2017 will allow firms to deploy enterprise-wide solutions at a fraction of the cost of competing, less robust solutions.
SNAPSHOT OF CUSTOMER SUCCESS
Customer A – Service/Functionality “Wins”
Purchased ePACS Straight-through Processing to streamline New Account Opening and Account Maintenance for their Advisors and Back-Office operations.
- Modernized their New Account Opening & Maintenance processes and lowered per transaction costs by replacing several expensive and outdated legacy systems.
- Enhanced compliance procedures with intelligent workflows governed by product type coupled with digital Compliance reviews and monitoring dashboards.
- Converted several terabytes of data and documents to the Docupace ePACS Centralized Vault electronic document repository that was purpose-built for financial services and SEC 17(a)3 & 17(a)4 compliance.
- Simplified and strengthened audit trails with automated document indexing and version control.
- Dramatically reduced Not-in-Good-Order rates for new account applications by deploying Docupace StartingPoint with SmartForms with business rules and validations.
- Significantly improved processing times and accuracy.
- Eliminated the vast majority of overnight mail costs.
- Enhanced end-Client experience by providing eSignature, digital signature, and wet-signature capabilities.
Customer B – Service/Functionality “Wins”
Purchased ePACS Transition Assistant solution to compliantly transition the books of business of new Advisors joining their firm.
- Provided new Advisors with a hands-on solution and service to assist them in transitioning to Advisor Group Broker Dealers while maintaining compliance with SEC Reg. S-P.
- Scalability allowed for large transition of an entire BD that was acquired as well as ongoing individual Advisor transitions.
- Affordability made for easy budgeting of the transition expense.
- Structured and proven process greatly reduces the time-frame required for the typical transition to as little as 30-business days.
- Hands-on experienced transition specialists provide education to transitioning Advisors to avoid common regulatory pitfalls.
- Ability to put staff on-site is a major plus for more senior Advisors lacking adequate staff to effect the transition.
Customer C – Service/Functionality “Wins”
Purchased ePACS Cyber Security Services to address new FINRA Cyber Security guidelines and audit findings.
- Delivered turn-key services for Branch Office device inspection, encryption, and ongoing monitoring & reporting to help computers and mobile devices stay compliant with security policies.
- Provided a well thought out and carefully implemented encryption policy to help prevent data losses.
- Deployed an appropriate encryption methodology for their Advisors get their computers encrypted quickly and painlessly.
- Our systems evaluate each computer on a daily basis and report its status as well as any steps necessary to bring the device into compliance.
- Providing remote access to sophisticated diagnostic and recovery tools and our US-based technicians.