Case Study: Cloud Document Management
Portal for Document Management and Workflow
About our client
About our client
Worldsource Financial Management is a division of Worldsource Wealth Management Inc., a fully integrated wealth management company that is focused on building financial prosperity.
Worldsource Financial Management supports the innovative and entrepreneurial approach that independent advisors bring to their professional practices.
Over 600 independent mutual fund advisors have partnered with Worldsource Financial Management, serving the financial planning needs of over 100,000 Canadian investor clients.
Each day, Worldsource Financial is required to manage hundreds of documents that come in from their advisor community and are required to quickly and accurately flow through to their internal dealer administration systems and then maintained for long term retention and retrieval.
Creating an elegant solution to managing not only the document flow but also the variety of document types, input sources and formats was a challenge.
Worldsource worked with Octacom to create an integrated solution that has allowed them to automate the process, ensure accuracy and quality of the documents and more recently, provide a self-service portal that has significantly lessened the burden of exception handling for their internal admin staff.
Octacom created a custom document management portal and workflow solution for the submission, conversion, verification and processing of their client account documents. Documents submitted through the secure portal can be tracked and audited throughout the entire process.
Worldsource Financial advisors love the convenience and ease of use. From their desktop, tablet or any mobile device, the drag and drop feature allows them to submit documents and then track their submission status. At head office, Worldsource admin staff has 100% visibility to the entire process and the ability to quickly and easily manage exceptions.
Keys to the success of this online portal:
- Ease of use for investment advisors
- Ability to access and submit documents anywhere, anytime
- Up to date status reporting allowing advisors to track their own documents
For the Worldsource administrative group, the Octacom solution enabled seamless management of exception processes for any submitted documents that do not successfully pass the required verification stage.
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