Leverage Electronic Document Management as a Key Part of Your Firm’s Disaster Recovery Plan

Regardless of where your financial services firm is physically located, disaster can strike at any time. Firms on the East Coast or Gulf Coast may be affected by hurricanes, while firms in the Midwest are more likely to sustain tornado damage. Firms anywhere in the are susceptible damaged by fire and water damage due to a water main break or floodwaters. Firms anywhere could suffer the consequences of a health epidemic or pandemic or an act of terrorism. FINRA, the SEC and other regulators recognize these risks and require firms to have current, actionable disaster recovery plans in place.

If disaster strikes, your firm will still need to be able to continue to meet its clients’ needs. Financial services firms that leverage electronic document management (EDM) solutions available from Treeno Software can be confident in their abilities to provide seamless client service without worrying about lost data.

Electronic Records can Drive Speedier Responses

One of the key benefits of Treeno Software’s EDM solution is that employees can access stored documents from virtually anywhere with internet access. If an unforeseen event makes it difficult or impossible for employees to go into the office, they will still have access to client records using their laptops, tablets or smartphones.

Financial firms that decide to implement a hosted solution can have even greater peace-of-mind knowing that their documents will continue to be available and accessible even if the firm’s own IT hardware is damaged or compromised.

Easily and Quickly Change Records Access as Needed

Another benefit of using EDM solutions is that it is fast and easy to change access permissions when necessary.

For example, if a flu epidemic strikes the geographic area where your firm’s largest office is located and keeps that office’s advisory personnel out, you can temporarily re-provision access rights as needed, so you could grant document and workflow access to personnel from another office not affected by the epidemic. This can ensure that someone will be able to answer clients’ questions and service their financial accounts even if the primary advisor is temporarily unable to do so. From a client service standpoint, this can lower frustration and head off potential complaints. It can also provide assurance to regulators that your firm is prepared for the worst.

When thing are back to normal, you can edit access permissions again with just a few mouse clicks, returning those permissions to their pre-epidemic settings.

Electronic Documents and Workflows can Enable “Business as Usual”

Using an electronic document management solution to store client account documents, statements, correspondence and other records can help financial services firms continue operations, even in the face of an unforeseen significant business disruption that could have otherwise crippled the firm.

Of course, no firm ever wants to face disaster. However, every firm needs to be prepared for the eventuality that they will need to implement their disaster recovery plan. To learn more about how Treeno Software’s EDM solution can help your firm prepare for the unexpected and meet such challenges with ease, contact us today.