TAB FusionRMS Finance Records Management

With the increasing focus on data integrity and higher industry standards in the competitive financial world, institutions are faced with a complex challenge when it comes to managing and maintaining customer account records. For business and government organizations, financial records management is a complex process, with varying retention requirements. Different types of records are subject to federal regulations (e.g. IRS, Sarbanes-Oxley, Department of Labor, OSHA, INS, ICE), state and local statutes, and organizational policies. Privacy legislation, increasing regulatory scrutiny, the frequency of litigation, as well as storage constraints and escalating costs are just a few of the factors that have made good finance and accounting records management practices a must. This changing environment presents new RM challenges for financial institutions when it comes to:

• Securing and authenticating records
• Retaining and classifying email and other electronic records
• Streamlining and consolidating customer account files
• Accessing information for improved loan decisions
• Increasing processing time of sensitive records
• Meeting compliance requirements
• Enhancing customer service

TAB FusionRMS for Finance allows you to manage any physical and electronic record related to income, expenditures and investments. The system features an array of industry-leading RMS functionalities designed specifically for professionals in the financial world.

With TAB FusionRMS Finance Records Management you can:

• Maintain, rationalize and consolidate all customer account records. The system provides an end-to-end document tracking solution for both paper and electronic records, mapped to the complete employee record lifecycle
• Meet IRS, state and local taxing authority compliance requirements
• Streamline your workplace and make finance department activities fully accountable and more efficient
• Manage the integration of email and electronic records in order to properly identify, classify and apply retention schedules
• Improve the design of workflows for transactional records to ensure compliance and improve control in transaction processing
• Track required training and certification requirements

TAB FusionRMS can also help you manage your loan and deposit records as well as the records generated from your accounting processes.

Accounting software applications help manage financial processes such as accounts receivable, accounts payable and financial statement reconciliation. However, a separate RM application is generally required to manage the lifecycle of the paper and electronic records that are generated from these activities. A financial records management system helps you create and apply a record retention schedule that defines how long each paper and digital record must be retained and when it can be safely and securely destroyed.

• Retrieve loan and deposit files within seconds, leading to improved productivity and customer service
• Eliminate the need to transfer documents between branch offices and headquarters, slashing courier costs
• Increase the quality of credit decisions through easy and immediate access to required information
• Improve information workflow by capturing the unique characteristics of each type of loan document
• Determine which financial statements and other documents have expired and provide visibility to their status
• Provide compliance and audit information quickly thanks to the system’s advanced reporting capabilities

Key System Functionality for Financial Records Management:

• Consolidation of all Records: Records need to be tracked whatever their form. TAB FusionRMS Enterprise simultaneously manages physical and electronic records in a single easy, efficient and accurate finance and accounting records management system.
• Powerful Database: TAB's database can manage virtually any organization’s physical and electronic records using the open industry standard, Microsoft SQL.
• Simple to use: TAB's user Interface complies with standard Microsoft Windows, the industry's most popular operating system. This ensures a comfortable look and feel designed to make the product approachable for all skill levels.
• Configurable: The system is configured to work the way your organization does, rather than enforcing new processes within your financial records management environment. We offer automated document routing that’s configurable to your requirements and provides greater efficiency. The system also offers centralized tools for database and retention setup specific to active and inactive records, with user settings and menu items based on security rights.
• Bar Code Tracking: Using the latest bar code tracking technology, users can instantly determine where their records are, who is using them, and how long they will be used for. The latest bar code tracking technology delivers the ability to locate any physical record, anytime and provides a complete audit trail and tracking history of all access and usage.
• Security: TAB offers a comprehensive and intuitive system designed to complement and respect existing IT security conventions that are already in place. Security is managed at the system, functional, user and record level.
• Imaging: TAB FusionRMS supports most industry-standard scanners from desktop to high-speed production models. It is also compatible with the full range of image indexing, image controls, viewing and access technologies to immediately reduce your file room and storage costs.
• Search Functionality: The system allows you to conduct a full text search of electronic records and global field search of the database designed to quickly take you to the documents you seek.
• Modular: Compatible with other TAB applications.
• Reporting: The system offers various on demand reporting options to provide overall feedback, compliance and audit information plus granular views of your finance records management environment.

The industry’s leading solution combined with the industry’s best service.

Our team of professional and accredited support and service personnel provide a complete suite of services designed to help you implement the system at your own pace. From providing accessible tech support to developing customized solutions, the TAB team can help you meet your financial records management goals.

Ready to take the next step?

Imagine a solution designed to help you quickly and easily meet your accounting and finance records management needs. Now imagine a complete support and training infrastructure standing by to help you achieve your goals. Contact TAB today to explore the ways we can make your records management vision a reality.

Download the TAB FusionRMS Enterprise for Finance product sheet (PDF).