Maximize Efficiency in Your IRA Program with Paperless Solutions
Going paperless in the workplace is no longer an option—it has become a necessity. As more financial organizations shift to paperless solutions, the benefits in terms of cost savings, time management, security, and environmental sustainability become undeniable. In this industry, the transition to digital processes is transforming the way our work is done.
Improving overall efficiency is one of the most compelling reasons for going paperless. In the past, financial organizations relied heavily on physical forms, paper trails, and manual filing systems. This process was not only cumbersome but also inefficient, resulting in lost documents and delays in processing because clients couldn’t come into a branch office to sign paperwork. This was especially true when forms were filled out incorrectly and had to be resent to clients to complete.
Easy Access
At Ascensus, we’ve worked hard to eliminate many of these inefficiencies by offering electronic forms. With our IRA and HSA Fully-Administered programs, your staff won’t be filling out paper forms by hand. Instead, you and your clients can complete and sign the forms online, and print them if needed.
When a client needs a specific form, our Fully-Administered program allows you to easily and quickly generate the correct document and deliver it electronically to your client (no more digging through filing cabinets or ordering boxes of pre-printed forms). And you can further reduce waste and costs by only printing what you need, when you need it.
This on-demand capability also means that you don’t have to worry about having outdated forms. We regularly update our forms for the latest IRA rule changes so you can feel confident that your IRA program is in compliance.
We also provide mailing services that can reduce the administrative burden of processing and mailing certain forms to your clients—saving your company even more time and money.
Increased Security
Security is another crucial factor driving the paperless movement, especially for financial organizations that regularly handle sensitive information. With paper documents, there is always the risk of sensitive information, such as Social Security numbers and account balances, being mishandled or misplaced, or even destroyed in unforeseen circumstances, such as a fire or flood.
In recent years, digital signatures have replaced the traditional pen-and-paper, or “wet” signature methods, adding a layer of security and convenience. With our Retirement Central Take Action Form Center, your clients can self-service their account, open an IRA or HSA, and electronically sign the documents when it’s convenient for them. We also offer e-brochures for your clients so they can learn more about retirement and other tax-favored savings accounts from the comfort of their own homes.
Digital Product Offerings
Our digital offerings can also make it easier for your staff to stay updated on the latest rules and regulations. Our eResource Center offers digital versions of our popular IRA, HSA, and qualified retirement plan compliance manuals that are regularly updated so you can look up the answers to any technical questions that your clients may have. Lugging big compliance manuals around the office is no longer necessary with our digital product offerings.
Want to learn more about how our paperless solutions can streamline your IRA and HSA programs and your workflow processes? Let’s talk. Contact your Ascensus sales representative to start the conversation.
