The Problem

Organizations create documents based on repetitive business process. These documents are a vital part of doing business. They are used to transfer information inside and outside and legally bind an organization. They are at the core of any business’ processes and systems. They are the conduit by which a company communicates and collaborates with customers, citizens, regulators, suppliers, partners and employees.

These documents are created by experts to be compliant and standardised, completed by internal and external parties, and reviewed and signed-off in each instance often many times, stored in existing Enterprise Content and Document Management Systems, and distributed via the web, email, fax, wireless devices, and paper.

Examples

• Legal documents – contracts, loan agreements, lease agreements, insurance policies, employment agreements, mortgage applications
• Sales documents – sales proposals, contracts, purchase orders, invoices, customer correspondence
• Regulatory submissions – SEC filings, FSA Regulations, Sarbanes-Oxley, Basel II, ISO 9000
• Transactional documents – trade confirmation notes, bills of lading
• Banking – loan applications, bank memorandums, new account applications

Limiting Factors

• Documents are created manually for each transaction – often with cutting and pasting from other materials, which is a slow and inaccurate process.
• Introducing enormous risk to organisations that can place senior management in breach of regulatory and governance obligations, often resulting in an inability to affect due process in corporate compliance and governance.
• As a result senior staff and subject matter experts must be involved at each step, causing bottlenecks and delays as multiple iterations of documentation is prepared, printed and reviewed.
• Creating inefficient business processes, by slowing the speed of transactions, rarely eliminating all potential errors, and fragmenting customer relationships by not responding to customer needs in the shortest possible time frame.

The Perfect Solution

Perfectus Solutions ensures operational document compliance through document automation.