The finance industry is highly regulated and subject to intense scrutiny. Compliance regulations are stricter than ever and require organisations to be vigilant in their management of vital business information. What many companies forget is that compliance is not merely the archiving of information. It is also about discovery; the ability to retrieve that information promptly.
Redmap solutions enable you to meet both the retention and discovery elements of your compliance responsibilities.
You may already have your documents and email archived in an ad-hoc manner that meets the minimum compliance directives for retention but is it functional? Can you find information at a moment's notice?
Beyond compliance, the benefit of securely storing all your corporate information in one location enables you to work more efficiently - surely that appeals to all of us.
Client Focus
Count Financial Ltd: Accounting and Financial Planning
The Company
Count Financial Limited (trading as Count Wealth Accountants®) is one of Australia's largest independent financial planning organisation, incorporating a large network of accountants and advisers across Australia and with over
$8 billion of client investment funds under advice.
They offer a wide variety of financial services including financial planning, investment advice, tax service, superannuation and loan advice.
They have approximately 100 staff in their head office, who provide service and support to over 950 advisers Australia wide.
The Challenge
Compliance and corporate governance was the fundamental reason for Count seeking an electronic archiving solution. In the highly regulated finance industry, compliance is of paramount importance. Every document, including emails, must be traceable in the event of an audit or litigation.
Count defined the following requirements for their chosen solution:
- It must be able to archive both paper and electronic records.
- It must automatically archive incoming and outgoing email.
- It must provide easy access to archived documents.
- It must be able to access archived documents remotely, for example, via the internet.
- It must provide disaster recovery.
- It must offer robust security.
The Solution
Redmap implemented a complete archiving solution that enables all the organisation’s records to be easily stored and accessed. Although the organisation has a very large network, the Redmap solution was simple to deploy and is easily accessible to all staff.
Legacy paper documents were culled, and those required to be retained by law were scanned and indexed into Redmap. Dedicated workstations scan current paper documents as needed. Individual staff can index their electronic files directly into Redmap and all emails are automatically captured and archived.
Count’s employees are now able to swiftly search a single online database for information, saving valuable time, as employees no longer need to physically retrieve the information or refile it. Information can also be accessed via a secure web interface to the information library. Customised security ensures client confidentiality is maintained while enabling employees to easily access the information they need to perform their jobs efficiently.
The entire information library can be regularly migrated to offline storage in order to save on disk space and assist with management of large volumes of data.
Both security and safety have improved as a result of storing paper records and emails electronically. Count has confidently met their compliance obligations while at the same time improving the entire structure of the business.
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