VSR Financial Services, Inc, a Kansas City-based, full-service securities broker/dealer, continues its partnership with Cutting Edge Solutions, Inc. (CES) to utilize CES's knowledge and expertise in automating their business process. By design, VSR is a small firm that provides individualized service and support to a network of more than 200 independent financial planners and over 80,000 client accounts throughout North America and has invested annually some $5B on their behalf. "The increase in our business was making it difficult to service our reps and their clients and comply with government regulations. We wanted to become more efficient through the use of additional technology," said Susan Vargason, Vice President of Operations. "We explored several other solutions besides our existing OnBase system and had narrowed down our list of choices to purchase, but then began to have second thoughts about the long-term cost of ownership. At that point, we called CES for a second opinion. After understanding our business needs, they suggested that we leverage our current OnBase system and augment it with Datacap Forms Recognitions software."
VSR decided to move forward with CES as their preferred solution provider to complete this initiative.VSR Financial Services became aware of the high quality of service provided by CES when they attended an OnBase User Group meeting where they listened to several CES Customers present case studies of work performed by CES Certified OnBase Engineers.CES met the challenge to not only streamline the new order process that drives revenue to the organization, but helped VSR to become more automation-minded by assisting them with automating business processes in five other departments. "More importantly, we worked with VSR Financial to ensure that their solution helped them to remain SEC and FINRA-compliant throughout the entire organization," said Jack Roberts, Vice-President of CES. "The benefits of this expanded solution for VSR include concurrent processing, which boosts productivity; immediate access, improving rep service and efficiency; and providing greater visibility into their processes, including identifying exceptions, which results in a higher compliance rate."
Positive impact and higher ROI were realized with savings of time, money and outlay for equipment. The securities brokerage firm noted that one of the selling points for them in terms of working with CES was the company's ability and willingness to take the time to get the most out of the discovery process. "CES learned our business processes and asked the right questions," said Mike Smith, Senior Systems Administrator. "CES's knowledge and experience continues to be a valuable asset as we proceed with technology integration and automation in additional departments at VSR."In the last two years, VSR has saved hundreds of thousands of dollars by eliminating the need for additional staff. For example, automating the new order processes increased each order processor's productivity by 33 percent within the first three months of deployment. The new order process previously included manually routing physical paper between three to six different people. By adding OnBase Workflow and Datacap Automated Indexing, the process is almost entirely automated and orders can be processed through the new accounts, order processing and cashier departments concurrently. VSR has made the new order process more fluent, increased its consistency and improved compliance.
VSR focuses on long-term strategies and products designed to change financial visions into reality. They are the second largest broker/dealer domiciled in the state of Kansas licensed to sell securities in all 50 states and a member of FINRA and SIPC. For more information, go to www.vsrfinancial.com.
CES is headquartered in Kansas City, MO, and helps organizations go paperless by providing them with vertical and industry expertise that help them to compare, select and configure solutions that capture, route, manage, share and archive information that is critical to business operations, audits and compliance. CES is a certified solution provider for several top award-winning document management, business process automation and record management solutions that reduce costs, enhance security, ensure compliance and improve process efficiency. Their independent consultative approach recognizes that each client is unique. CES has the distinct ability to develop solutions that are tailored to each client's individual needs, delivering the best solutions, products and expertise. For more information, go to www.ces-inc.com.
SOURCE: VSR Financial Services, Inc.