As its name implies, the Document Tracking module monitors the flow of information within NTAS. Users can create, define, and maintain a register of documents to track, such as those needed to comply with specific internal or general external requirements. Once received, a document can be scanned or copied into the system. The storage location is recorded by the document tracking function. In addition, receipt of a document can trigger a process that also can be tracked.
Documents are controlled and recorded on four levels:
1. Fund Level – e.g. a Certificate of Incorporation
2. Holder Level – e.g. a copy of a Passport
3. Account Mapping Level – e.g. an original Subscription agreement
4. Transaction Level – e.g. a signed Redemption form
Documents and processes can be tracked at any level. For example, verification of signatures on redemptions at the Transaction Level, or background checks on fund directors at the Fund Level. With increasing emphasis on compliance in today’s financial environment, the powerful features within the Document Tracking module provide the user with the following benefits:
1. More Efficient Compliance
Users can create a list of required documents that must be accepted. If these documents are outstanding, warning messages advise users prior to the approval and completion of transactions. In addition, exception reports will inform users and supervisors which documents are still outstanding. Core documents... those that are required on a bank, department-wide, or fund level…can be put in centrally by a compliance department to monitor their status.
2. Paperless Office
By storing and tracking electronic copies of documents, through modules such as FundKnowledge, the amount of paperwork that must be retained for each fund, holder, and account can be dramatically reduced.
3. Flexibility
Users can define individual documents and processes and vary the levels at which they are tracked.
Learn more about Document Tracking from our white paper.
For more information about the Document Tracking module or any Koger product or service, contact us at info@kogerusa.com or call +1-201-291-7747.