Docupace: Effortless Financial Services at Your Fingertips
John Devincent EVP of MarketingePACS eliminates most NIGO (not in good order) applications which are always either incomplete or ambiguous in nature. ePACS also simplifies the process of auditing. Many of the systems, that use the ‘horizontal solution’ for managing documents, are deficient in meeting the requirements of SEC Rule 17a (3) & 17a (4) books and records. “ePACS ‘Centralized Vault’ feature enables the staff to ‘store, review and recall documents’ for daily operational need. This helps a company avoid the risk of not complying with FINRA, SEC and state audits” says John DeVincent. ePACS is modular and can be configured to solve specific needs for financial services firms. Recruitment for broker dealers brings along a new set of challenges, not to mention the time lost and the hassle experienced. The new advisor has his hands full with various piles of registration and licensing documents which should be processed. ePACS’s Advisor On-boarding delivers a secured cloud infrastructure and offers an ‘electronic workflow and filing system that streamlines the on-boarding process’ and keeps the process efficient. The financial services industry is a large target for cyber security threats. Docupace helps Broker-Dealers (B-Ds), Registered Investment Advisors (RIAs) and other financial institutions be cyber secure. Docupace helps in protecting their client’s personally identifiable information (PII). The firm’s service offering helps a client in managing documents and important client data. This includes vulnerability assessment, penetration testing, incident response and sales force computer inspections.
ePACS ‘Centralized Vault’ feature enables the staff to ‘store, review and recall documents’ for daily operational need. This helps a company avoid the risk of not complying with FINRA, SEC and state audits
Docupace’s ePACS offers a paperless processing experience at a client-advisor level and continues seamlessly straight through the home office to clearing and fund companies as appropriate and is widely used by B-Ds and RIAs.
William Financial Group, a financial firm based in Dallas, is one such company which has reaped the benefits of Docupace’s solutions. As the company grew so did its challenges. The hierarchy of the company contemplated that increasing home office staffing level at a higher dollar cost might do the trick. But the workflow solution that they were using was segmented, not web-based, and did not extend to the field. In order to solve this challenge, Docupace offered William Financial a cloud based solution which easily integrated with the existing hardware and software which was familiar with the company’s representatives. As a result, the company was able to pay on a per-user basis while avoiding a hefty amount on resources and then rolling out a solution which the company would have found difficult to use.
Docupace is solely not resting on its past laurels. The company has observed a rise in the use of alternative investment which has been seconded by Mackinsey & Company, a management consulting firm. But the market landscape is undergoing a change while most advisors also lack familiarity with the options. Keeping this trend in mind and staying true to their idea, the company is working on the ePACS AI Solution which will ‘reduce the processing time for alternative investment transactions from weeks to days’.
Company
Docupace
Headquarters
New Windsor, NY
Management
John Devincent EVP of Marketing
Description
Electronic processing solutions for financial services firms and their advisors.
