Six benefits of Doxis the finance sector can't afford to miss

Doxis could be the solution you’ve been looking for to transform your entire financial operations. This system can streamline all your administration processes and make them more efficient to manage. In this guide, we’re reviewing the six top features and benefits that we think make this a worthwhile investment. 

Doxis enterprise document management for financial services is a system that’s helping businesses bridge the gaps between their disparate data and platforms. There are plenty of benefits to be had across a range of sectors. The finance sector in particular can supercharge their efforts if they have the right solution in place. 

Doxis is designed to supercharge the processing of documents such as invoices and anything relating to purchase to pay.

Improve compliance

With a platform such as Doxis, everything is traceable, and you can set stringent parameters on who has visibility. This makes GDPR compliance much easier to manage. You will know exactly who accessed any document on your system, what changes they made, and when. This ensures complete accountability and transparency. 

Your processing will also be audit-proof, saving time and hassle if your accounts are subjected to an internal or external audit.

Save space and store more

If your business or sector is encountering a growing deluge of paperwork, this could be slowing down your processes. Doxis offers a cleaner and neater way to manage your paperwork. It’s also more sustainable, and you have the benefit of being able to store more without needing lots of archiving space. 

Digitising all your documents is a transformational process. It is the future of document management and will save your business time, money and resources. This is especially true if you’re a larger company or looking to expand. That’s because handling paper-based documents requires a lot of physical space and the archiving or filing is a time-consuming process that will require a dedicated team of employees. There’s also the risk of important documents being incorrectly filed or getting lost, neither of which is good for productivity or client relationships.

With an automated content management system, you won’t have to worry about any of the issues mentioned above. All digital documents will be intuitively and automatically filed within the platform.

Automated invoice processing

The Doxis SAP integration enables automated invoice reading and workflow processing. Invoice data is sent automatically to relevant parties, meaning you can reduce the arduous internal admin processes. The review process will still be overseen by humans. 

However, what it does well is take away the need to process an invoice once it reaches your inbox. Instead, the system will automatically pick it up and send it to the right person for checking. 

A strategic workflow will be created automatically. This means you don’t have to update people, create tasks, or set reminders to chase. Instead, the Doxis system can do all this for your finance department.

Integrate contracts

With the Doxis Supplier Workspace, you can integrate supplier contracts, making it easier to view all the progress and data relating to each separate contact that you deal with. You will also be able to see deadlines at a glance. This will help you provide a more efficient customer service and strengthen customer relationships. 

Improve customer relations

Good customer service requires efficient structures and staff with optimised access to information at all times. By systematically processing orders and invoices efficiently, your customers will receive payments, communications and updates with a faster turnaround. This will lead to happier customers which in turn should result in greater customer retention and a good business reputation. 

Easy migration

This will be one of the biggest challenges that business owners will consider when choosing to transfer or digitise their documents to a new solution. Long timeframes will be off-putting. However, migrating to Doxis can be done quickly. 

In fact, for the FCA Bank Deutschland, they were able to transfer 17 million legacy documents to the new system. The Doxis migration involved mapping special procedures, such as those for fast entry of incoming documents and integrity checks for scanned documents. 

With a specialist integration partner, such as Ignite Technology, you can benefit from an out-of-the-box installation that could take hours rather than months to set up. 

Book a demo of Doxis with a specialist

We understand that businesses can be wary of new systems that promise the Earth. However, where there is a strong case to invest, it’s worth knowing more. Speak to one of our Doxis document management system specialists by booking a demo today. 

By Austen Moore

Marketing Manager

Responsible for managing Ignite Technology’s marketing initiatives, Austen uses market research and analysis to direct marketing strategy and planning. He oversees the production of all promotional materials and marketing campaigns. With over 20 years of experience managing a range of companies, Austen’s expertise centres around commercial management, enterprise content management, marketing, sales, project management and team leadership.