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![Before M-Files, locating a particular document involved
thumbing through client records in a file cabinet or on the
shared hard drive. […] now we can quickly search by,
for example, specific document classes such as "fee
agreements" or "client correspondence" for a particular
client and get the information we're seeking
immediately. In addition, we can leverage metadata to
easily and dynamically set access privileges to particular
documents for different people and departments within
our organization.
Robert J. Carlyon
Chief Operating Officer
Syntal Capital Partners
SUCCESS STORIES](https://image.slidesharecdn.com/m-filesforfinancialservices-salespresentationid27721-250814150707-e860aef3/75/M-Files-for-Financial-Services-Sales-Presentation-ID-27721-pptx-2-2048.jpg)
![WHERE WE STARTED
Customer's information was
scattered across different systems
and difficult to access.
"[…] if a customer opened a checking
account at one time and applied for a
loan at another, they would have to
provide a number of things twice, such
as copy of their driver’s license."
Processing loans was a complicated
and manual procedure.
"Previously we were going back and
forth between hardcopy and electronic
versions and printing and scanning
documents to get the appropriate
signatures for approval."
Bank was subjected to SBA
quarterly reports and an additional
5-10 audits per year.
File for audits were copied to a CD
and shared with auditors. If
documents changed or supplements
requested, a new CD had to be
provided.
Each audit took days.](https://image.slidesharecdn.com/m-filesforfinancialservices-salespresentationid27721-250814150707-e860aef3/75/M-Files-for-Financial-Services-Sales-Presentation-ID-27721-pptx-11-2048.jpg)
![WITH M-FILES
Business-related documents are
centralized, which makes it easier
for employees to find the
information they need.
"By enabling us to significantly improve
how we store, find and manage
information, M-Files has the power to
add great efficiencies to the way we
operate as a business […]."
Existing systems have been
integrated (SharePoint, Salesforce),
and the ease of use of the M-Files
interface has translated into high
adoption.
"We conducted a thorough search of
the ECM market, but the simplicity,
flexibility and configurability of M-Files
was what really set it apart from the
competition."
Every document has its own history
and audit trail available and
accessible.
Internal and external audits happen
faster and in a more reliable way.
"Having a flexible tool like M-Files that
can be easily configured as our
business needs evolve will also be
especially valuable for future
regulatory developments […]."](https://image.slidesharecdn.com/m-filesforfinancialservices-salespresentationid27721-250814150707-e860aef3/75/M-Files-for-Financial-Services-Sales-Presentation-ID-27721-pptx-17-2048.jpg)
M-Files for Financial Services - Sales Presentation (ID 27721).pptx
- 1. M-FILES FOR FINANCIALSERVICES How M-Files is helping Financial Services with Intelligent Information Management.
- 2. Before M-Files, locatinga particular document involved thumbing through client records in a file cabinet or on the shared hard drive. […] now we can quickly search by, for example, specific document classes such as "fee agreements" or "client correspondence" for a particular client and get the information we're seeking immediately. In addition, we can leverage metadata to easily and dynamically set access privileges to particular documents for different people and departments within our organization. Robert J. Carlyon Chief Operating Officer Syntal Capital Partners SUCCESS STORIES
- 3. F O CU S O N C U S TO M E R S O P E R AT I O N S U N D E R C O N T RO L R E P O RT I N G A N D C O M P L I A N C E Meeting customer expectations for flexible, personal services and products that match micro- and macro- events. Identifying and reducing wasteful activities to sustain lower fees. Evidencing compliance and demonstrating how things are done within the organization.
- 4. WHY IS ITDIFFICULT TO TAKE ACTION? Information is siloed and it is challenging to access and manage it. Within the same system, it is often a guessing-game – which folder?
- 5. M-FILES APPROACH Connecting andorganizing all the information, no matter where it is. Information is accessed based on what it is, not where it is
- 6. F O CU S O N C U S TO M E R S O P E R AT I O N S U N D E R C O N T RO L R E P O RT I N G A N D C O M P L I A N C E A single point of access where all information can be organized, safely stored, and accessed when needed. Automating tedious and manual work, to reduce cycle times and errors. Finding, compiling and sharing information requested by auditors is simple and fast. D O C U M E N T M A N A G E M E N T W O R K F L O W S A U D I T M A N A G E M E N T
- 7. BENEFITS Customer experience • Increasedloyalty • Increased competitiveness Resources to redeploy to new opportunities • Saved resources (time and money) • Personnel for higher-value activities Keep up with audits and changes in regulations • Faster and easier to compile information • Less fines and disruption to day-to-day operations
- 8. WHY CHOOSE M-FILES Integrationwith existing systems M-Files has powerful integration capabilities and enhances systems already in use. No need for data migration Documents can stay where they are and still benefit from M-Files features. Easy to use Thanks to Windows-based UI, no technical background is needed to use M-Files daily. Support with internal change We are with the customer throughout the implementation process.
- 9. CUSTOMER CASE STUDY How M-Filesis helping Stearns Bank
- 10. STEARNS BANK Stearns FinancialServices is an independent financial holding company based in Saint Cloud, Minnesota. It has 10 branch locations in Minnesota, Arizona, and Florida. It specializes in small business lending and equipment financing, and it prides itself of its focus on customers. 1,000 LOANS APPLICATIONS/YEAR 550+ EMPLOYEES 43,000 CUSTOMERS OPENTEXT AND FISERV
- 11. WHERE WE STARTED Customer'sinformation was scattered across different systems and difficult to access. "[…] if a customer opened a checking account at one time and applied for a loan at another, they would have to provide a number of things twice, such as copy of their driver’s license." Processing loans was a complicated and manual procedure. "Previously we were going back and forth between hardcopy and electronic versions and printing and scanning documents to get the appropriate signatures for approval." Bank was subjected to SBA quarterly reports and an additional 5-10 audits per year. File for audits were copied to a CD and shared with auditors. If documents changed or supplements requested, a new CD had to be provided. Each audit took days.
- 12. WITH M-FILES Improved customerexperience, as customer records are created and stored centrally in M-Files. Authorized personnel can access and augment the information with additional documents (loan applications, legal papers, financial statements, etc.). M-Files workflows have streamlined and digitized loan processing and other internal procedures. Assignments and digital signatures avoid physical copies of documents passing from hand to hand. Every step leaves a trail for audits. Information for audits and report is more easily compiled and shared. "We can automatically flag documents that are required for the auditors and they can easily review our documentation online." Audits take hours.
- 13. NOW Use of M-Fileshas been expanded > Everyone uses it – from HR to Accounting, from Customer Services to Marketing. Consolidated 10 document locations into M-Files Repurposed file room for desk space > People instead of paper. Estimated savings of 1,000,000$ by 2020 We’ve been able to maximize M-Files’ functionality.As President & CEO, I use M- Files daily. I’m in and out of M-Files looking at deals, reviewing and approving submissions, and pulling and reviewing documentation on existing and prospective deals. Kelly Skalicki, CEO
- 14. CUSTOMER CASE STUDY How M-Filesis helping Walter Scott & Partners LTD
- 15. WALTER SCOTT &PARTNERS LTD Walter Scott & Partners Ltd. is a Scottish company that offers global equity portfolio management to institutional investors all over the World. Since 2006, they are part of Bank of NewYork Mellon. The company takes a long-term and targeted approach to investing. 140 EMPLOYEES MS SHAREPOINT AND SALESFORCE FOUNDED IN 1983
- 16. WHERE WE STARTED Answeringcustomers' requests was difficult. If a customer would ask for information or documents, it would take as long as five days, with employees searching in boxes and filing cabinets. Different IT systems were used, leading to system fatigue in employees, some of whom have been with the company for more than 20 years. FCA regulated, and therefore needed to keep track of sign-offs (when and who). There was a huge paper trail, often involving digging around in emails and finding pieces of paper.
- 17. WITH M-FILES Business-related documentsare centralized, which makes it easier for employees to find the information they need. "By enabling us to significantly improve how we store, find and manage information, M-Files has the power to add great efficiencies to the way we operate as a business […]." Existing systems have been integrated (SharePoint, Salesforce), and the ease of use of the M-Files interface has translated into high adoption. "We conducted a thorough search of the ECM market, but the simplicity, flexibility and configurability of M-Files was what really set it apart from the competition." Every document has its own history and audit trail available and accessible. Internal and external audits happen faster and in a more reliable way. "Having a flexible tool like M-Files that can be easily configured as our business needs evolve will also be especially valuable for future regulatory developments […]."
- 18. GET IN TOUCH We'rehere to help. If you have any questions about M-Files or just need more information, just let us know. 6400 INTERNATIONAL PKWY, STE 2500 PLANO, TX 75093 + 1 9 7 2 - 5 1 6 - 4 2 1 0 Call Us S A L E S @ M - F I L E S . C O M Email Us M - F I L E S . C O M Visit Us Online
Editor's Notes
- #1 *for the presenter - This Sales Presentation is designed to be delivered in person, you can check the presenter's notes for more information and a guide on how to present each slide. Feel free to adapt the presentation to your style and customer, and if needed you can integrate the following deck into your own general M-Files deck.
- #2 We have worked with banks, investment managers and insurance companies to make sure they can organize and access their documents in a way that supports and facilitates their businesses. On the slide, you can see some of our references and what Syntal Capital Partners has to say about implementing M-Files as their Intelligent Information System. As we will go through the next slides, you will see that M-Files helps businesses in Financial Services with much more than document management: from streamlining processes such as contract management and loan management to making it easier to compile periodic reports for regulators. M-Files is a solution that makes information and data work for you, rather than the other way around.
- #3 Working with our customers, we have found that they struggle with three main aspects of their businesses. Things have changed in Financial Services in the past decade, and the changes have made these three aspects even more important. Our customers' customers have become more demanding – They are no longer happy with one-size-fits-all services and products. They want personalization and outstanding experience. They want solutions that match micro-events (such as travels, or buying a car, or changing job) as well as macro-events (such as getting married, having kids, or retiring). They want flexibility and care. And they have experienced, or heard of people experiencing, this type of services and products, as it is what technological companies focus on (both FinTech and BigTech). The prices of our customers' products are deflating – With the rise of passive investments, low- or zero-cost deposits and services, and micro-event insurances, and with the long period of low interest rates (that is anyway expected to last), people got used to low prices. Again, FinTech and BigTech do go in the same direction. This means, of course, that if our customers want to be competitive and offer what people want in terms of prices, while still maintain good margins, they end to double down on operational efficiency. Identify which activities are wasting resources (time and money) and redesign them, digitize them, automate them. We are talking about things as contract management, loan management, customer onboarding, wire transfer requests and approvals, and so on. Our customers are also under increasing regulatory pressure – The attention of regulators is shifting from solvency to market conduct. This means that our customers are more and more asked to prove that what they do, their day-to-day activities, complies with regulations and safeguards the customer. They need to be able to track what is happening within the organization, the different processes, who has done what and when, and then compile all this information and share it with auditors and regulators. We see these three challenges across different companies in Financial Services. *at this point, you could ask if they feel the same pain points, and which one is more important for them*
- #4 Our customers were struggling to meet those challenges. And talking to them, trying to understand what was going on, we found it was mainly for these two reasons. Information is often stored in different systems, sometimes still in physical cabinets or on somebody's desk. And even when documents and data are already in a digital format, different departments, branches, offices might use different systems. Having such systems interact with each other is complicated, sometimes impossible. And so, when a customer opens an account in one branch, and asks for a loan in another, they need to provide the same documents all over again. Or when they want information about past investments or transactions, our customers' personnel have to go around the office to dig into file cabinets to find them, and it takes days to answer the customer. This is all amplified by the fact that, even within the same system, say for example SharePoint or Google Drive, information is organized in folders. And in which folder can you find the copy of the driving license of a customer? Is it under Customers > Customer name, or under Loan requests > Customer name, or under Customer data > Driving licenses? What we found is that our customers employees spend hours searching for the right document within the very same systems. And most of the time, they do not find it, so they make a new one.
- #5 This is where M-Files has delivered real value to our customers in Financial Services. On one side, M-Files integrates with existing systems and archives. It is not necessary to change where files are, or migrate data from one place to another. M-Files makes different systems come together, so that it is really possible for an employee working in Salesforce, for example, to have access to all the documents that relate to a customer, no matter where they are stored: Google Drive, SharePoint, Network Folder. It does not matter. On the other side, M-Files organizes information, even the information that is not stored in M-Files, based on what it is, not where it is. So, a document is organized based on the date it due to expire, the customer, the project, the person who created it. And different employees can access that very same document (not a copy of it) depending on their interests. A project manager could have access to all documents that relate to a certain project; a sales person to all documents that relate to a certain customer. No matter where the documents are originally stored.
- #6 With the M-Files approach in mind, we can now go back to the three main challenges of our Financial Services customers and see what implementing M-Files meant for them. When it comes to focusing more on the customer experience and wants, with M-Files our customers have found a single point of access where all the customer's information can be organized, safely stored, and accessed when needed (by the people who can access them). If we think back at our examples before, this means that it does not matter when and where a customer has provided information. It might have been to a company's rep at one of their branch or offices, it might have been during a phone conversation with one advisor, or filling in a form on the website, or via the mobile app. All the information collected from different touch points are available in one single point. And when needed, they can be accessed. For example, when an employee needs to offer an insurance or investment solution to a dedicated customer; or when an employee needs to provide information to the customer upon their request. We have also worked with customers to make sure they could automate tedious and manual work, to save time and money, and maintain good margins even if they have to lower their fees. We have done this with contract management features: contract drafting, review and negotiation, approval and signature, termination and renewal have been digitized and automated. Similarly, processes such as loan management, trade orders, wire transfer requests have benefited from SOP (standard operating procedures) and workflows capabilities. And finally, we have made it easier and faster for our customers to demonstrate they are complying to regulations. Instead of having to manually copy documents and information on CDs, for example, and then send them to auditors, they can now flag the documents needed for the audit and give online access to auditors, who will only see what they need to see, in its most recent version. This has improved also the efficacy of internal audits, and so our customers are now more resilient and ready to changes in regulations or different regulatory regimes (for customers who operate in different geographical areas).
- #7 When it comes to the benefits they have experience. They have found customers' to be generally happier, as our customers did have the chance to focus on their experiences. This means of course increased customer loyalty, and increased competitiveness against new, tech-focused entrants. They have had the possibility to deploy the saved resources to new opportunities. To some customers, this has meant simply saving money, and therefore having the possibility to keep their costs low and their margins high. To others, it's also been an opportunity to give their employees more time to spend with their customers, and it has also involved re-training to be able to take more or different responsibilities in a changing landscape. And finally, our customers have been able to drastically reduce the time needed to compile information for periodic reports or audits. In some cases, we have seen a reduction from days to hours. Of course, being the information our customers are now able to provide more complete and more reliable, they are also less exposed to fines and general disruption.
- #8 And before we move to a specific customer case study, I want to stress why our customers have chosen M-Files. Even when they had competitors' solutions already deployed, or after having gone through very thorough vendors evaluation processes. M-Files integrates with existing systems, and it enhances them. Having already different systems in use, such as Salesforce, SharePoint, specific financial services tools such as fund management, or research management, or banking software (Fiserv), is definitely not a roadblock. M-Files does not require heavy and expensive data migration, as the information can stay where it is now. This also mean that there is no big disruption to day-to-day activities. M-Files is easy to use, many people who have absolutely no technical background have been able to use it since day one. Training is usually for enhanced use, but basic use is very intuitive and immediate, thanks to the Window-based UI. And finally, M-Files is supportive of the internal changes. Some of our customers have started small, with one use case, in one department, and then they have expanded. Our consultants, customer service, and training is also with you to make sure you get high adoption rate and everybody in the company can use M-Files to make their work.
- #9 *for the presenter - This case study is a summary of material that can be found at the following links. For more information about Stearns Bank implementation, please check the original material. Testimonial: m-files://show/ACF7FC8D-2A41-43FD-BACC-FDD895870357/0-152022?object=0E79C94E-4A59-4B31-B356-3020EBD72919 Video: m-files://show/ACF7FC8D-2A41-43FD-BACC-FDD895870357/0-194795?object=09BA525A-74BA-49A0-95DF-10966F270B88
- #14 *for the presenter - This case study is a summary of material that can be found at the following links. For more information about Stearns Bank implementation, please check the original material. Testimonial: m-files://show/ACF7FC8D-2A41-43FD-BACC-FDD895870357/0-273713?object=4F04DE08-3C91-4376-B530-516A1E37016A