The Most Powerful Financial CRM Software Available!

Start My Demo

Best Practices: Document Storage + Management for Financial Services

Published on August 15th, 2017

Photo: Document Storage & ManagementDocument management and storage is a challenge for any business. After all, is there any project you complete that doesn’t require referencing past documentation. But for those businesses in the financial sector, the stakes are raised. Proper management and storage techniques aren’t just a good idea, they are an industry-mandated requirement. No matter if you are already using the latest in document technology, or you are improving your system a little at a time, following these simple best practices guidelines will help make sure you cover all the bases.

Structured Filing and Naming – Have you ever looked for a file in digital storage or on the cloud, knowing it exists, but not able to find it? The problem lies in how you chose to name and organize the files. Choose meaningful document names, preferably automatically created for ease. Then, utilize a structured digital filing system. This will make it easier to find a particular document later.

Controlled Access – There is nothing more annoying than when an employee needs to use a document but can’t access it because they are all protected. Alternatively, leaving all files public can be a security hazard and potentially even put you in legal hot water. Creating controlled access areas of your storage is the solution. With a well-organized system, you can protect files but easily allow approved employees the ability to use files when needed.

Set Retention Policies – In the financial industry, there are regulations in place about how long certain documents must be kept. Additionally, when the age has been reached, deletion can make your life easier. Make sure you organize files in a way that you can easily see their age, and that you can access for deletion or destruction when the time is right.

Secure Sharing – Sharing documents (such as from one branch office to another) is sometimes a must. Make certain that your sharing process is 100% secure to avoid having your sensitive documents fall into the wrong hands. Utilizing encryption methods protects you and will assure you follow industry-mandated requirements.

While document management is a tough job, there are tools to make the task easier. Your document production software may be a good place to start. However, one of the best places to look for document storage and management tools is your CRM. DebtPayPro, for instance can help you get organized, stay in compliance and improve productivity. If you would like more information about how we can help, reach out to us today.

Tags: ,

Back to Blog

See why 1000 Users from 100 Companies use DebtPayPro

Take a Demo of our System

Find out why our customers trust us

Growing my business on the DebtPay platform has been everything I expected and hoped it would be. Their staff is knowledgeable and helpful. I made the best choice for our

David S
Debt Settlement Company

We use DPP to manage our direct mail marketing efforts, manage our leads and get finance applications signed. Using DPP has put us in the 21st century. We're closing more

John M
Lexus Dealership

We've been using DPP for 5 years. We've never considered using anything else. There isnt anything comparable. Our business runs efficiently, profitable and growing on their platform. Its always exciting

Mark C
Debt Settlement Company

I have been a client with DPP for almost 2 years. Their CRM has made our business so simple and easy to use. It has allowed us to grow our

Mary S
Student Loan Company

I've used a few other industry CRM's in the past. None of them compare to the functionality offered by DPP. Hands down the best platform on the market! We're not

Patrick R
Student Loan Company

Having used other CRM's in the past, I can say the value in DPP is un-paralleled. They offer so much functionality, customizations and dealing with their support team has been

Susan A
Law Firm