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M-Files in Accounting and Financial Services

M-Files provides a secure, easy to use and affordable solution that organizes, manages and tracks important documents, information and processes for accounting and financial services such as banking, insurance, and wealth management.

Accounting and Financial Services are document intensive

Accounting relies heavily on efficiently managing and processing documents. Tax returns, invoices, receipts, purchase orders, budgets, and numerous other types of documents are critical to the day to day business of an accounting firm or individual CPA.

In financial services, how documents are stored and managed plays a key role in the performance and competitiveness of a firm, affecting the efficiency of its operations, risk avoidance, and the accuracy of important financial decisions.

Support for any type of financial document including paper and email

Any type of financial document or information is supported including tax returns, invoices, receipts, financial statements, purchase orders, statements, audit documentation, and so on. In addition, generic business documents associated with the basic day-to-day operations of the firm can also be managed and tracked. Email and paper documents are seamlessly supported, including integrated scanning with OCR (Optical Character Recognition) for generating “full-text” searchable PDF files.

Always locate the right document instantly when it is needed

Once stored in M-Files all documents are indexed and searchable for instant retrieval, and access to the "right" document is assured due to M-Files’ integrated version history that always provides access to the most up to date version, as well as older versions, should they be needed. M-Files eliminates the need for chaotic and hard to manage Windows folders with a flexible method of classifying and organizing documents by any property or tag, such as client, document type, date, etc., literally any property can be defined and tagged to any type of document. No more searching for where to save a file, just save to the vault and tag.

Automate financial document processes

Important processes affect almost all financial documents. Examples include routing documents for review, submitting them for approval, filing them with federal and state agencies, disposing of them according to retention policies, and more. M-Files can automate essentially any type of business process from simple approval processes to sophisticated, multi-step workflows with multiple stakeholders, assignments, notifications and electronic signatures that are audit-ready and compliant with financial regulations.

Comply with financial services regulations

The accounting and financial services industries have demanding regulatory compliance requirements including those associated Sarbanes-Oxley (SOX), the SEC and IRS, and other laws and regulations, and maintaining compliance with these laws and regulations is of paramount importance. M-Files includes all the tools necessary to maintain compliance with financial regulations, including security, history and audit trails, record policies, automated processes and backups, and more.

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