Every month, a third-party accountant sends ten financial reports for the firm’s pooled investment vehicle with one report containing 70 individual investor statements. Semper Augustus Investments uses Laserfiche Workflow to categorize and distribute financial reports.
Import and distribute financial statements A single voucher package can have as many as 4,000 pages. Once the last form is submitted, Laserfiche Workflow strips the screenshots and compiles all of the forms and uploaded reports into one complete voucher package. Those documents are also uploaded using Laserfiche Forms in order to maintain a record of audited items. The last several forms in the process are used to capture all documents provided to the verifier (an auditor), such as a new client’s custodial statement or investment application. This process ensures that documentation is retained at each step in the process. Here is what the whole Laserfiche Forms business process looks like:Ĭlick image to view larger in new window.Īs the steps are completed, each form is saved in its own folder in Laserfiche with the appropriate template applied. Throughout the process, other members within the firm receive status updates through automated email notifications, so that everyone is in the loop on work status. Once the form is submitted, the user is prompted to move to the next step in the process by filling out the next form.
In each step, there is at least one supporting report generated from the portfolio accounting system that is reviewed by the user and uploaded to the form.
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Instructions on how to perform the work.One form corresponds to each step and contains the following information:
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The Laserfiche Forms-powered process serves as a detailed checklist and instruction manual for Semper Augustus employees. The firm developed a 25-step process with Laserfiche Forms that was modeled after the CompositeBuilder user manual to ensure fair representation of calculations and provide full disclosure of investment results. Semper Augustus uses CompositeBuilder, which is integrated with the PortfolioCenter portfolio accounting system, to manage investment portfolios. Ensure a fair representation of investment results Here is how the RIA uses Laserfiche Forms and Laserfiche Workflow to maintain compliance. With 120 clients and $200 million in assets under management, Semper Augustus Investments must comply with several financial services regulations.
Laserfiche Solution Contributed By: Chad Christensen, Partner and Chief Compliance Officer, Semper Augustus Investments
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