Business Development Contact:
VP, Enterprise Business Solutions
Docupace – ContextStudy
Presented by Beacon Strategies, LLC/McCartan & Company
Business Development Contact:
Docupace’s cybersecurity, document management and workflow solutions simplify the process of capturing, organizing, routing and accessing information for Broker-Dealers and RIAs that 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 while providing myriad compliance benefits.
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 & SPII 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 comprised of leading technologists and former Broker Dealer & RIA senior executives. With more than 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/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
1. Customer A – Service/Functionality “Wins”
Purchased ePACS Straight-through Processing to automate New Account Opening for their Advisors and Back-Office operations as well as establishing enhanced Data Governance.
• Automated their New Account Opening processes and lowered per transaction costs by replacing paper-based processes.
• Dramatically reduced NIGO rates to single digits for new account applications by deploying Docupace StartingPoint with SmartForms with business rules and validations.
• Provided better quality data ‘downstream’ as a byproduct of business rules and validations being applied to Advisor-provided data. Better quality data allows for more accurate decisions.
• Enhanced compliance procedures with intelligent workflows governed by product type coupled with digital Compliance reviews and monitoring dashboards.
• Integrated with components of various existing back-office systems.
• Strengthened audit trails with automated document indexing and version control.
• Improved processing times & accuracy while greatly reducing overnight mail costs.
• Enhanced end-Client experience by providing eSignature, digital signature, and wet-signature capabilities.
2. Customer B – Service/Functionality “Wins”
Purchased ePACS Transition Assistant solution to compliantly transition the books of business of new Advisors joining their firm.
• Providing new Advisors with a hands-on solution and service to assist them in transitioning to Kestra Financial Services while maintaining compliance with SEC Reg. S-P.
• Third-party nature of relationship allows Docupace to work directly with transitioning Advisors PRIOR to the processing of their Form U-4.
• Scalability will allow for transitioning large practice groups or individual Advisors.
• Structured and proven process greatly reduces the time-frame required for the typical transition to as little as 30-business days for an average size book of business.
• Experienced transition specialists will be providing education to transitioning Advisors to avoid common regulatory pitfalls.
• Option to put Docupace staff on-site is a major plus for more senior Advisors lacking adequate staff to affect a timely transition.
3. Customer C – Service/Functionality “Wins”
Purchased ePACS Cyber Security Services to comply with new FINRA Cyber Security guidelines and protect the firm from its biggest point of Cyber vulnerability—the Internet connected computing devices of its independent Advisors.
• Delivering turn-key services to 150 field offices, including device inspection, encryption, and ongoing monitoring & reporting to help computers and mobile devices stay compliant with security policies.
• Deploying 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.