Consistent Data backup is Vital for Small Businesses

Data can be difficult to manage. With so many different sources dragging more and more data into your home and work life every day, it can get out of control. Every email, every spreadsheet, every single document you encounter; that’s data that needs to be managed. Data backup is one of the most vital steps in that management process. Data backup is particularly important for small businesses and brokers as it fulfills their compliance requirements. As time goes on, regulators are becoming more and more focused on digital data, which means...

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The Advantages of Cloud Data Backup for Brokers

As a broker or financial advisor, you’ll probably have heard a lot about data backup. Most industries in Ireland at the moment are being bombarded with advice to get into the cloud. Cloud data backup has become the latest must-have for businesses big and small. But besides being up to speed on the newest technology, what does it have to offer for your average broker? Space For most brokers their data backup plan consists of a mix of physical digital drives and filing cabinets. In a lot of cases those filing cabinets are taking over the...

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2 Simple Ways File Management Can Go Wrong

Saving a document is one of the simplest tasks you can undertake on a computer. It can also be one of the most frustrating. Especially in a business that relies on accurate file management. When you deal with a lot of digital documents, you do a lot of saving. It may not seem like it, but in business, saving documents means a lot more than ctrl+s. If your business doesn’t have strict guidelines on how to save files, you could find you have real problems if you receive an eDiscovery request or a call from the regulator. Even though saving is...

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You Can’t be Too Busy for Records Management

The current financial environment has had a huge effect on the day-to-day business of your average broker. Along with the change in the level of business available, there has also been an increased focus on the industry from the regulator and the media. Those dual focuses have two implications for records management. On the one hand, you’re getting more attention from the regulator so you need to be absolutely certain of your records management. With the increased media attention on the industry, and regular stories suggesting upturns or...

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Document Management Procedure Doesn’t Equal Compliance

Compliance is a key issue for every broker. That’s not a new or surprising statement for people who own or run a brokerage. But it is something that staff sometimes forget. Which is why document management procedure is key for anyone in the financial industry. Financial institutions and advisors spend a huge amount of time wading through documentation every day. These documents need to be managed in an appropriate and compliant manner. That means documents need to be properly recorded. They need to be filed accurately and then they need to be...

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Filing Costs Point to the Need for File Management in the Cloud

‘Filing’ is a vital word in the world of brokers and financial advisors. It may not seem like much, it’s a task that’s seen as the bottom rung in a lot of organizations. But in industries where you’re constantly dealing with new documents, a proper file management system is a must.   As well as being a vital part of the process, filing is also an expensive business cost. If you rely on a paper file management system to store your documents, your ongoing costs will be significantly higher than a broker who stores all of their documents...

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