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What We Learned from Laserfiche's 2021 Investment Advisor Piece


Recently, I came across a survey and report Laserfiche put together with WealthManagement.com. While we don’t work with many financial planners or wealth asset managers, we learned a lot from this Industry Brief, so we thought we would share.


Laserfiche Workflow is a high-impact technology


Much like other industries and sectors, financial services were affected by COVID. Among them is the use of workflow. Like public sector agencies, financial firms chose to leverage the inherent value of workflow. Also, financial firms report relief (88%) using Laserfiche for client-facing transactions and ensuring compliance.


  • Client meeting and prep- 72%

  • Digital signatures- 50%

  • New account onboarding- 32%

  • Business continuity- 24%

  • Compliance processes- 22%


Some of these process adoptions support the immediate needs of COVID, such as WFH. As remote work requires access to strongly secured data, compliance processes were reinvented to be sure they met regulatory mandates. Client processes met requirements and pleased clients. The adoption of all these workflows really improved the client experience.


In a similar way, agencies also WFH and required 24/7/365 access to their data and systems. Security and access controls were in place, and agencies dove deeper into their digital transformation. Residents and businesses, who are agency ‘clients,’ were, at least initially, denied the regular counter service. However, governments quickly put their websites and web portals to good use. They also use Laserfiche Forms to take information from residents and kick off workflows to complete citizen services such as records requests, business license processing, or park reservation requests.


Challenges despite increasing efficiency and expanded client services


While financial advisors appreciate the efficiencies gleaned from Laserfiche Workflow―they also were subjected to competing priorities while implementing new processes. Business needs to happen whether new processes were deployed or not. To the effect of 52% of advisors felt competing priorities made it challenging to implement modernization. This opinion is easy to understand in the context of the drastic changes related to the pandemic. Once their business is stabilized, 35% of advisors are unsure where to go next with their ECM technology.


Advisors are certainly not alone in feeling there are competing priorities for their attention. Agencies are stretched thin. Also, both are often unsure of where to go next with ECM. This is common among organizations that deploy Laserfiche to solve the “big organizational problem.” This is why it is vital for Laserfiche Partners to be in the mix, making suggestions. And why it’s critical for organizations to work with a Partner with a deep bench of experience. Many of the processes Partners deploy can be imaginatively customized for multiple industries if they have the right team. We at CPS have professional services groups with decades of experience. And as the winner of the Laserfiche Solution Provider’s Customer Service Award, we have plenty of happy client stories to inspire us.






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