Docupace
  • PreciseFP
  • RIA Productivity Suite
  • Docupace Platform
    • Docupace Platform

      A comprehensive, customizable solution for digitizing your wealth management operation and increasing efficiency, productivity, and profit.

      Platform Overview
      jPass Login
      • Advisor Transitions

        Digital workflows make it possible to transition incoming advisors’ books of business in as little as 30 days.

      • Client Onboarding

        New account opening and maintenance is simple with automatic data synchronization and compliance checks.

      • Compensation Management

        Build financial reports with comprehensive summaries that can be created with unlimited hierarchies.

      • Compliance TRACKR

        Enable digital delivery to ensure clients receive RegBI (Form CRS), Form ADV and DOL Rule disclosures.

      • Document Management

        Store records with a secure, cloud-based document management solution and always be prepared for an audit.

      • PreciseFP

        Powerful automation, workflow, and operations management tools that enable seamless client engagement.

      • RIA Productivity Suite

        Out of the box capabilities and integrations that meet the flexibility needs & simple-delivery requirements of the RIA market.

      • Surveillance and Compliance

        Our Surveillance and Compliance solutions are the antidote to your challenges, pre- and post-trade.

  • About
    • About Us

      Docupace is a technology company built for the wealth management industry. We’ve been on a mission to eliminate paperwork since 2002.
      Who We Are

      • Partner Integrations

        The Docupace Platform integrates with leading CRMs, esignature solutions, custodians, clearing houses, and more.

      • Careers

        Want to work for an exciting, fast-growing company with excellent benefits? View our openings and apply.

      • Back Office Heroes Day

        Learn more about National Back Office Heroes Day presented by Docupace.

      • Security & Compliance

        Learn more about the initiatives that protect the Docupace Platform from cyber and regulatory risks.

      • Contact Us

        Get started with the Docupace Platform or reach out to our sales, client support, or compliance support specialists.

  • Resources
    • Resources

      Access product and solutions guides, whitepapers, success stories, datasheet, webinars, and more.

      Resource Index

      • Blog

        Stay up to date on the latest industry news and read insights from wealth management technology experts.

      • News & Events

        The latest Docupace headlines, plus information about upcoming conferences and webinars.

      • Datasheets

        Get detailed information about Docupace products, services, and partners

      • Webinars

        Discover on-demand webinars to learn about our products, services, and industry trends.

      • eLearning & Documentation

        Guides and videos to help you accomplish tasks in the Docupace system, plus release notes and glossary.

      • Whitepapers

        In-depth insights and research about the biggest topics in wealth management technology.

  • Contact Us

Creating a Seamless Ecosystem: Why Your Documentation Management Tool Must Integrate with Your CRM

By Michael Drumm · Mar 15, 2023
Mar 15, 2023 · Compliance and Security

Creating a Seamless Ecosystem: Why Your Documentation Management Tool Must Integrate with Your CRM

Michael Drumm, VP Enterprise Business Solutions | Docupace

An integrated customer relationship management (CRM) and documentation management tool is the best way for wealth management firms to set themselves up for lasting success.

Having disparate tools, technologies, and systems that don’t play well together is a recipe for disorganization, compliance disaster, and dissatisfaction from end users — clients and advisors alike.

Why? Your CRM is the one-stop shop for customer information like contact details and historical interactions. CRM data is key to indicating customer needs, tracking sales performance, and staying organized around business efforts. Bringing that data into your documentation management tool is key for a seamless digital experience.

At Docupace, we understand just how important it is that CRM data and documentation management go hand-in-hand. In this blog, we’ll break down how integrations benefit wealth management firms when it comes to having a fully digital ecosystem, staying compliant with automation, and improving the user experience across the board.

Your Digital Ecosystem Depends on Integrations

Whereas digitization was a smaller priority in years past, wealth managers today see the value of digitizing to meet consumer expectations and needs. Indeed, having faced numerous digital challenges at the onset of the COVID-19 pandemic in 2020, 75% of global wealth managers now see going digital as a priority.

Couple that with the fiscal pressure of shrinking margins in the financial services industry, and there is a renewed focus on technology to drive down operational costs as much as possible. Finding areas where technology can move the needle and save costs — like integrations between a CRM and documentation management platform — is key to the success of this approach.

How can businesses focus on integrating their digital tools? By adopting an end-to-end, complete digital ecosystem that brings their CRM, documentation management, and other software tools together. Indeed, Francisco Uría, KPMG International’s Global Head of Banking and Capital Markets, said that digital transformation is a crucial area where wealth managers can make a difference.

“Through a wide range of digital capabilities, wealth managers have the potential to grow market share,” Uría said.

Eliminate Human Error with Compliance Automation

Compliance is a crucial consideration when it comes to integration. For example, having automated checks for potential errors like duplicate data entry or missing data fields can reduce human error for data transfer from a CRM to a documentation tool.

Reducing the cost of compliance fines and advisor time through automation and integration is huge. At a time when regulations are only increasing, cutting costs where you can is the best way to mitigate long-term risks.

Indeed, half of asset managers say they expect regulatory spend to increase in the next two years. This is significant because compliance costs already make up at least 4% of revenues — a number that increases to 10% for digitally-naive companies.

At Docupace, we’ve seen companies reduce disclosure processes by 65% and save an average of $7.75 per electronic disclosure with automation. Reducing these costs is a great way integration and automation can work to close the gap on more regulatory spend.

Engage Clients and Advisors with a Great User Experience

Last but not least, integrations between your CRM and document management tool offer a better user experience not only for internal advisors, but also for external clients who are on the receiving end of your internal processes.

Take onboarding, for example. A whopping 52% of global wealth managers are worried about losing clients due to poor onboarding experiences. Onboarding new advisors is also a common hassle for firms.

Integrations help keep the back office running smoothly. Better user experiences with an integrated CRM and document management tool mean fewer headaches when it comes to client engagement, risk mitigation, and compliance management.

If you’re interested in learning more about our platform and how we integrate with other software, learn more about what we do here.

Want to read more
from our thought leaders?

Explore our Blog
Share This Article
The Platform
  • Platform Overview
Solutions
  • Advisor Transitions
  • Client Onboarding
  • Compensation Management
  • Compliance TRACKR
  • Document Management
  • PreciseFP
  • RIA Productivity Suite
  • Surveillance and Compliance
Resources
  • Blog
  • News & Events
  • Glossary
  • eLearning & Documentation
Company
  • About
  • Contact
  • Careers
  • Back Office Hero Day
  • Security
  • Partner Integrations
  • Legal
RECEIVE NEWSLETTER UPDATES

© Docupace Technologies 2023

  • Privacy Policy
  • Docupace's LinkedIn
  • Docupace's Twitter
  • Docupace's Facebook
  • Docupace's Youtube
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT