A Buyer's Guide to Choosing a Document Automation Solution for Financial Services

INTRO

If you're a part of the industry, you're likely wading through a constant deluge of documentation. Whether it's physical paper, all electronic, or a mixture of both, the risk of getting lost in the stream is always present. With the push for paperless operations in the workplace, many companies rely on technology to ease the burden and cut down on tedious, repetitive tasks. By automating your key business documents, you can reduce manual work, improve data quality, and strengthen your brand.

Document automation has been trending for a while now in the financial services sector, but where do you start? We've put together this quick and easy guide full of the information you need to get started.

Table of contents

• What is document generation?
• Key features of document generation software
• With Conga, your business needs come first

What is document generation?

Document generation is the process of creating the critical documents needed to drive your business. For example, contracts, proposals, financial action plans, credit approval forms, custodial forms, and account summaries to name a few. When you add automation to the process, you can achieve a streamlined lifecycle built to optimize your business-critical documents.

Benefits of document automation

When it comes to asset management firms, documents propel each stage of the process forward, influencing every team and customer interaction. Document automation solutions can provide real-time notifications, tracking, and analytics with speed and accuracy. Other benefits of automation include:

• Eliminating time-consuming and error-prone manual data entry
• Increasing team efficiency and improving performance without requiring additional resources or expenses
• Delivering an exceptional customer experience through easy-to-understand documents, faster negotiations, and a quicker path to adoption

Automation can transform your organization into a more nimble, productive, and profitable engine.

Document generation use cases for financial services

For industries like financial services, document generation software can be used for:

• Fiduciary services
• Billing
• Price fee proposal
• Financial action plans
• Proposals and contracts
• Credit approval forms
• Mergers and acquisitions
• Custodial forms
• IPO presentations
• Account summaries
• Invoices

Visual representation of document types: Quote, Proposal, Contract, showing placeholders for company name, logo, and signature.

Key features of document generation software

Choosing the right tool for your organization will take time and careful consideration. Consider the scope of your needs for every team involved and determine how each feature optimizes operations within your organization—today and in the future. To maximize effectiveness, look for a document generation solution that includes the following features:

Create

Generate documents to address numerous use cases in Microsoft Word, Microsoft Excel, Microsoft PowerPoint, PDF files, or HTML emails.

Merge

Merge data from standard or custom Salesforce objects or your firm's CRM.

Conditional generation

Conditionally display sections of a document, group data together, and calculate formulas according to business rules.

Brand

Incorporate professional, complex content such as tables, images, rich text, charts, dashboards, custom fonts, watermarks, and global currencies.

Deliver

Deploy flexible delivery options with output files that can be downloaded locally, stored in file storage providers (Salesforce, Box, Google Drive, Amazon S3, etc.), distributed via email, and/or integrated with eSignature.

Notifications, tracking, and history

Receive real-time engagement notifications when a document has been viewed, including who has viewed it and for how long.

Workflow

Automatically log activities, create follow-up tasks, and update fields.

Automate

Trigger integrated solutions within your customer relationship manager (CRM) to automate documents using workflow rules.

With Conga, your business needs come first

As the most popular document generation app on the Salesforce AppExchange, Conga Composer allows you to automatically generate error-free, on-brand documents. With this document generation solution, you can send accurate, consistent communications directly populated with your data to elevate your brand and delight your customers.

Financial services companies rely on Conga Composer to manage their banking, investing, and insurance documents. Composer quickly generates documents with key customer information and keeps a clean audit trail throughout the entire process.

Unlimited document formats for unlimited use cases

Conga Composer allows you to create the documents your company needs internally and externally. With our per-license model, admins can create as many templates as needed and users can generate as many documents as needed without additional charge per document.

Composer handles the most complex use cases when it comes to templates, formatting, and data gathering. You can use tables, images, rich text, charts, dashboards, custom fonts, watermarks, dynamic formulas, and global currencies.

File Formats and Customer Highlights

Generate documents to address any use case with multiple template formats, including [DOCX], [XLSX], [PPTX], and [PDF] files, as well as HTML emails. Composer also uses dynamic template selection to automatically choose the correct document in the correct language.

Merge data from multiple input systems

With Conga Composer, you can merge data from standard or custom Salesforce objects and data from external databases into your Composer templates. Take advantage of advanced data retrieval through nested queries and semi-join queries and support complex SOQL queries for powerful and efficient document generation.

Automation capabilities to simplify processes

Set up automation and mass document sending with just a few clicks. With Conga Composer, you can send hundreds of documents at once without any human interaction. Free up time for teams to focus on other priorities, boosting efficiency and morale.

System security

Conga is proud to be part of the Cloud Security Alliance. Our Chief Information Security Officer (CISO) and security team are dedicated to best practices in security, privacy, and compliance. These security protocols enable Conga customers to meet a multitude of compliance, data protection, and regulatory obligations from around the globe.

Start your document automation journey today

Document automation for your firm can change the way you do business, so it's important to find the tool best suited for your business needs. With a 5-star rating on the Salesforce AppExchange, Conga works to maintain its high level of customer satisfaction and support.

At Conga, we offer best-in-class capabilities that go beyond document generation. You can use Composer alongside the Conga Suite solutions, including eSignature, CLM, CPQ, approval workflows, process automation, billing, invoicing, and more.

To see how Conga Composer can help your bottom line. Start your free trial today:

[Start your free trial]

About Conga

Conga, the Revenue Company, is the pioneer and market leader in Revenue Lifecycle Management. Its platform is chosen by the world's growth champions to accelerate the end-to-end revenue lifecycle and achieve a Revenue Advantage. Conga brings Configure, Price, Quote, Contract Lifecycle Management, and Document Automation capabilities together on a single open platform that works with any ERP, any CRM, and any Cloud. Conga is born for the top line—powered by a unified revenue data model, complete revenue intelligence, and purpose-built AI—to help companies grow, protect, and expand their revenue.

Conga delivers a Revenue Advantage to over 10,000 customers and 6.4 million users around the world. More than 7 million contracts and 46 million quotes are generated annually with Conga. Founded in 2006, the company is headquartered in Broomfield, CO and has offices across the United States, India, and Ireland. Visit conga.com for more information.

For more information, email info@conga.com or visit conga.com.

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