30% reduction in costs by implementing a Financial Record Digitization Platform for a leading Investment and Financial Services company based out of the US

About the client

One of the world’s largest investment and financial services company based out of US

Problems:

Our client had billions of paper-based financial records resulting in delayed response times, higher costs and lower collaboration. They wanted to eliminate paper-intensive operations and digitize the financial information to make it easily accessible and searchable at a fast speed and lower costs. The client had decided to use IBM FileNet P8 and DataCap platforms to resolve this issue. However, due to lack of technical expertise, customer struggled to implement this solution leading to delay in project execution and budget overreach.

Solution:

Innover helped the client in successful implementation of IBM FileNet P8 and DataCap platforms to drive end-to-end digitization of their financial information, thereby providing a clear and transparent view of digital assets. This included:

• Electronically archiving data in a proprietary format and simplifying it to make it computer readable – thereby maintaining the same validity as its paper counterparts
• Capture, store and manage content smartly and securely by leveraging IBM FileNet P8 and DataCap – scalable and highly available enterprise platforms for improved operational efficiency and lowered costs
• Migration and storage of data to a cloud-based platform for enhanced data availability, visibility and flexibility
• Enhanced user adoption across lines of business by enabling seamless and efficient retrieval of financial records - anywhere, anytime, thereby allowing authorized personnel to deal with consistent and correct information for decision-making