Papierlose Dokumentenverarbeitung

Paperless document processing in Asset Management

Even as digitisation continues, asset management companies still face a flood of documents. After all, a large asset manager receives up to 500,000 analogue and digital documents annually. To effectively manage this mass, intelligent, paperless document processing plays a central role in asset management. It is a decisive success factor for performance and is also crucial for being transaction ready.

DOCUMENT PROCESSING FOR ANALOGUE ASSETS

Probably every asset manager has these “skeletons in the closet”. Analogue documentation, filed in many meters of files, some of which has grown over decades. Document processing in this case means first of all: digitising. Old stocks of documents must be sifted through, evaluated and, if necessary, scanned so that they can be made available digitally to everyone involved. Unused documents must be stored or properly destroyed. In the course of processing analog archives, it makes sense to outsource archiving, storage and original management to a third-party provider. Often the storage is more appropriate, secure and economical.

OUTSOURCING ANALOGUE INCOMING MAIL MEANS PAPER-FREE WORK

Furthermore, analogue documents and correspondence reach the asset and property manager day after day. The analogy capture and distribution is time and resource consuming. It is possible to delegate the entire incoming mail to a service provider. In this way, incoming documents are immediately available centrally to all parties involved and resulting processes can be addressed. And all of this simply paperless.

DOCUMENT PROCESSING FOR DIGITAL DOCUMENTS

Digital document processing is divided into six subject areas relevant to asset management:

AVAILABILITY, ORDER

Digital documents (from digital stocks, from purchases or from e-mails) must be clearly named (according to conventions) and stored centrally and accurately.

ACTUALITY, COMPLETENESS

Even with small portfolios it is difficult to keep track of the details. Are all relevant documents available? And if so, are they up to date? Assistance systems that analyse the document inventory may sound the alarm here. In the next step providers can ensure a transaction-ready document inventory with document procurement and regular updating.

CONFIDENTIALITY

A sophisticated authorisation system is required to prevent documents from falling into unauthorised hands. A central digital document storage with an easy role concept can also handle the administration of large user groups.

COMPLIANCE

Who accessed which document and when, or edited which document? In document processing, documentation and traceability play a major role. Professional systems offer a wide range of reporting and versioning functions with which legal requirements can be easily met. This also applies to documents containing personal data, for example. If these are recognised, a warning system can remind or execute the deletion in due time.

COOPERATION, COMMUNICATION

Nothing is more annoying than documents that are sent in multiple versions by e-mail and/or on data carriers. Smart solutions for document processing therefore offer collaboration tools in which all participants can centrally access and edit a single document or organise the tasks derived from it. Of central importance for asset management is a sophisticated Q&A process that organises incoming questions, answers and (sometimes multi-level) approvals in a lean and effective way.

DATA EXTRACTION

This is also part of document processing. Relevant data must be reliably read out of documents, for example to “feed” other systems with it or to validate the data from other systems. Automated document processing can make this possible. Read-out data is used in a processed form (dashboard, reports) to provide the asset manager with sound information.

DOCUMENT MANAGEMENT SYSTEM OR DATA ROOM? THE BEST OF BOTH!

Document processing in asset management is a hybrid of both solutions. It is less about as many functionalities as possible, but rather about those that make the most sense and are designed most effectively with an absolute focus on Real Estate Asset Management.

  • Lean processes for collaborative work on documents
  • Optimised document storage
  • Structured cooperation with external service providers
  • Ideal transaction readiness at any time

In combination with the extensive services for analogue document processing, Architrave thus distinguishes itself as a “one-stop shop” for optimised and paperless document processing in Real Estate Asset Management.