Full Results
Savings per Application
$
|
Current Process
Rate
Cost
|
With Docupace*
Rate
Cost
|
||||
|---|---|---|---|---|---|
| Advisor |
min
$
|
min
$
|
|||
| Administrative |
min
$
|
min
$
|
|||
| Back Office Ops |
min
$
|
min
$
|
|||
| Supervision |
min
$
|
min
$
|
|||
| Mail/Overnight |
$
|
$
|
|||
| NIGO Cost |
%
$
|
%
$
|
|||
| Total |
$
|
$
|
|||
Annual Savings per Advisor
$
|
Current Process
Rate
Cost
|
With Docupace*
Rate
Cost
|
||||
|---|---|---|---|---|---|
| Monthly Applications |
$
|
$
|
|||
| Back Office & Reprocessing Cost |
$
|
$
|
|||
| Monthly Cost per Advisor |
$
|
$
|
|||
Annual Savings for Your Firm
$
|
Current Process
Rate
Cost
|
With Docupace*
Rate
Cost
|
||||
|---|---|---|---|---|---|
| Monthly Applications |
$
|
$
|
|||
| Monthly Nigo Reprocessing Fees |
$
|
$
|
|||
| Monthly Cost |
$
|
$
|
|||
Annual Savings and Additional Revenue Potential (in 000s)
$4,000
$3,000
$2,000
$1,000
$0
Year 1
Year 1
Revenue Potential: $k
Savings: $k
Year 2
Year 2
Revenue Potential: $0k
Savings: $0k
Year 3
Year 3
Revenue Potential: $0k
Savings: $0k
Year 4
Year 4
Revenue Potential: $0k
Savings: $0k
Year 5
Year 5
Revenue Potential: $0k
Savings: $0k
*Assumptions
|
Assumptions
Burden reduction: 65%
Burden reduction is the expected efficiency rate when using the Docupace ePACS ® fully electronic account opening system vs. traditional account opening.
NIGO Rate with Docupace: 8%
Not In Good Order – The percentage of applications that do not get fully processed the first time due to errors or missing information.
Disclaimer
Disclaimer
Burden reduction: 65%
Burden reduction is the expected efficiency rate when using the Docupace ePACS ® fully electronic account opening system vs. traditional account opening.
NIGO Rate with Docupace: 8%
Not In Good Order – The percentage of applications that do not get fully processed the first time due to errors or missing information.
Saving money is just the beginning.
In addition to huge cost savings, a digital operations platform can help you to:
Save time on every application
Enhance manual entry errors
Reduce your not-in-good-order (NIGO) rate
Create field validation rules
Save on mailing costs
On average, Docupace advisors will spend 65% less time on paper work.