Solving Industry Specific Records Management Problems

Below is an assessment of both the industries in which employees face significant paper-based records management challenges, and how each of these roles can benefit from using a records management system like eFileCabinet.


Accounting Records Management

Typically, this type of position is held by someone with a four-year degree and therefore is expected to be an efficient knowledge worker while on the job and solving industry specific records management problems. CPA certification/Masters in Accountancy is a common designation, too. They’re among the most pragmatic, detail-oriented, and bottom-line-driven knowledge workers.

60% female, 40% male—each gender having tendencies toward introversion (and therefore, records management potential) ages between 35 and 45, usually married with 1-2 kids.

Works as an accountant in an organization of any size (not an accounting firm, most of the time). Vast majority of accountants don’t work in firms). Prefer On-Premise software products (although they stand to benefit more from cloud-based records management) quiet, meticulous, conservative, more worried about expenses than the average person. Accountants sell time because of billable hours, and therefore stand to prosper through the efficiency technology brings them and how it helps solving industry specific records management problems.

Risk, opportunity cost, balance sheet, capital, cash flow, expenses, ledgers, ROI, profit margin: All of which are things document management systems and records management software facilitate. Goals are client satisfaction, accuracy, speed, security, meeting stringent regulatory demands.

Challenges eFileCabinet Records Management Helps Accountants Solve

Clients demanding newfound levels of responsiveness, lack of billable hours, struggling to offer a broader spectrum of financial advice to demanding clients, busy work, unpredictable hours, lack of Mac-capable professional applications.  The phone ringing and the person always having bad news/request on the other end of the line. Accountants sell time, but they can’t sell the time they spend looking for information as billable hours, so looking for things slowly is a huge expense.

Accountants are becoming less and less cloud averse, and we want to be the brand to usher them into an era of cloud-based accounting technology.

Because mac/mobile compatibility deliver responsiveness clients seek. Going paperless reduces busy work/paperwork, frees up time for professional development to broaden skillset as trusted advisor/earn more billable hours. Tackle unpredictable hours with security and accessibility that mitigate the pain points of these unpredictable hours, etc. They don’t like to change too much at once because it’s too scary. If clients move, they can retain these clients with eFileCabinet.


Healthcare Clinics Records Management

Common goals in healthcare, in terms of solving industry specific records management problems are information inter-operability, HIPAA Compliance (which is difficult with little human capital), and time.

Frequent barriers to solving industry specific records management problems are information inter-operability, treating patients based on not just condition, but needs. Not being able to practice medicine/being forced to take on unwanted administrative roles due to paper, short staffing, long hours, and EMRs/EHRs with poor usability; effective health IT adoption, HIPAA Compliance difficult to achieve with few staff (1-3 employees usually).

High customer to employee ratio makes breaches a greater potential threat. Frequently unaware of what’s wrong with EHRs/EMRs: bad usability (EMRs/EHRs were only implemented in clinics because the EMR industry had control with a lobby in DC when HITECH Act was released).

How eFileCabinet Can Help in Healthcare Clinics Records Management

Change the BYOD phenomenon for the better: instead of blurring the line between personal and professional devices, we can bring professionalism and security to personal devices (Mac-compatibility, mobile integration especially in contract nursing) which will facilitate HIPAA compliance (privacy rule mandates that PHI (public health information) should not be used or disclosed when it is not necessary to satisfy a particular purpose or carry out a function), emphasize the usability of our offering, including its portability (one of the Ps in HIPAA stands for Portability, after all). Reduce steps in workflow.


Financial Services Records Management

Typically college-educated with additional certifications (such as CFP, CFA), works in small financial advisory firm or as an independent fee-only financial planner, which can make solving industry specific records management problems difficult as there are few resources to do so.

College-educated, they don’t mind blurring the lines between work and life outside work because theya re ambitious. Average age is 51. They frequently work weekends and evenings/and or when their clients are available, giving them a significant need for a mobile records management solution.

Many small financial services companies have consultants who’ve been in business for a long time (20+ years). Files compound over time, but more people aren’t put on the payroll to handle this volume of information, so solving industry specific records management problems becomes difficult in light of that. The result? Lots of information, lots of storage, and few people to handle it = small office spaces jammed with filing cabinets and paper. SEC, FINRA, Risk Management, budgeting, adjusting workload budgets based on annual company expenditures.

How eFileCabinet Can Help in Financial Services Records Management

Compliant servicing, be more resourceful/knowledgeable/accessible/credible to clients.

Reduce the feeling of being at the whim of client requests/Managing on-the-spot client demands/staying in touch with clients, information overload,  Increasing mobility and accessibility for clients, including accessibility and security of information. The desire to be mobile, have immediate access to give clients what they need outside the office. Industry is growing quickly (will have grown 30% by 2024, which is MUCH faster than average). Many financiers are nearing retirement and demanding to work more flexibly as a result. Competing with ROBO advisers and automated financial services.

Expedited retrieval and search capability, workflow, versioning history (to document client changes), help them invest in long-term, operating budget expansion as financial advisers.


Insurance Records Management

If there is a line of work that requires a motley of different methods in solving industry specific records management problems, it’s the insurance agency worker or agency producer. The workers comprising this one are most diverse in experience, education level, and background when it comes to effective records management.

However, the personality is similar: There’s a sociable, caretaker mentality in insurance workers, but it’s reached differently by each of them, and therein lies the need to help others through effective document management and records management practices, which eFileCabinet can deliver.

Since many insurance matters are handled by HR at the departmental level in organizations, insurance agencies and HR managers have some overlap in their records management needs, and therefore have the same need in solving industry specific records management problems.

How eFileCabinet Can Help in Insurance Records Management

FIO (Federal Insurance Office, which coordinates industry policy) transactional documents, insurance policies, insurance claims, financial forms, commission, ‘loss prevention’ telematics, claims, claims adjusters, actual cash value, affinity sales (selling insurance through groups such as professional and business associations).

Sell more insurance. dynamic risk management (from customer perspective and information management perspective). effective claims management, decrease hold times on the phone, linking/creating web of documentation that’s more retrievable and effective.

Document-intensive environments are a challenge in solving industry specific records management problems, as are policyholder satisfaction, regulations at both state and federal levels, (Dodd-Frank), data breach, audit assistance.

Of the few sales professions we serve, insurance is the most commission-intensive, so the real thing to be gained is the ability to sell more with proper records management technology, primarily from a feature and integration perspective. Enterprise Access (see telematics). Increasing sales/document turnaround times with e-signatures, reducing data breach fear and threat with SecureDrawer (SecureDrawer and DocuSign both offering branding consistency) offer paperless billing as a tool to differentiate themselves from other firms in a competitive marketplace. Offer audit trails/simplified compliance.


Manufacturing Records Management

The smallest target markets work in pharmaceutical, adhesive, cleaning compound, textile, and industrial chemical manufacturing, making solving industry specific records management problems a difficult task given the range of manufacturing versatility.

This industry is predominately male, with a total gender split of 73% male, 27% female. The workers, however, who arguably benefit most from records management solutions, are between the ages of 35 and 54.

The most common identifiers must be viewed in the context of 1 to 5-employee businesses. Most promotions handled internally, so the decision maker and the worker who benefit most from the product are similar personality-wise and in their understanding of the manufacturing process.

How eFileCabinet Can Help Manufacturing Records Management

Lean Manufacturing (environmentally responsible manufacturing) Engineering Change Orders (ECOs) Reliability, assembly, calibration, electronic data interchange (EDI) ISO (international organization for standardization) adherence.

Staying relevant in an industry that depends heavily on technology. Reducing production cycle times, lean manufacturing (environmentally responsible manufacturing), reliable manufacturing processes, quick and efficient inventorying — all of which eFileCabinet can help.

Productivity hindrances are a significant challenge, hefty storage demands per worker/too many filing cabinets per employee. Finding a single invoice with a 5-employee headcount when you serve over 1,000 vendors annually (as most manufacturers do) is time-consuming.

eFileCabinet can help with the invoice capture, automation and simplification of manufacturing processes and procedures through paperless software, help overthrow 5 common wastes/time wasters in manufacturing: 1. over-production, 2. waiting time 3. transportation (documents) 4. Processing 5. ineffective inventorying.