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Stephen Ledger
|
Operations Partner

Kreston Reeves selects Virtual Cabinet Document Management Software

How this award-winning, 300 employee-strong firm of accountants selected its document management software.

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The traditional office is dead. Long live the virtual filing cabinet!

The Background

With big expensive offices, with floors of stored documents, rapidly being confined to the shredder - it has never been more important for business to adopt new processes that improve efficiency, productivity, and cut costs.

That is precisely why the award-winning, 43 partner, 300 employee-strong firm of accountants, Kreston Reeves, has invested in the market leading document management system, Virtual Cabinet. Like any dynamic, forward thinking firm with an eye to growth, Kreston Reeves continually reviews systems, processes and costs to identify ways of improving client services and managing overheads.

The Problem

In 2012, their dedicated in-house IT identified the need for an integrated document management system to meet specific performance criteria and achievable objectives. Their brief to potential providers was implicit. The solution had to:

• Facilitate changing ways of working: 24/7 access, anywhere and anytime from the office, home or remotely
• Be a modern best of breed solution with a single point of access to manage multiple and complex document and email trails, firm–wide instant retrieval
• Be secure and back-up
• Deliver ease of use and quantifiable savings in terms of time, document storage and retrieval costs
• Include digital signature technology
• Reduce paper costs

The Selection

From the detailed responses, four solutions were short-listed for trial by the IT team. Following thorough performance evaluations, the team voted 11-0 to invest in Virtual Cabinet for 300 users across four sites in London and the South East.

The team voted 11-0 to invest in Virtual Cabinet

The evaluation team was particularly impressed with several key functions in the Virtual Cabinet. First, the speed and ease with which documents can be accessed. Second, its modern thumbnail approach to reviewing long document and information trails.

Like any firm of accountants and financial advisers, documentation is a core process to the business. Historically, the firm relied upon a bespoke document management process. With users having to spend hours sifting through documents, it was time to migrate and invest in an industry best-of-breed system complete with the latest functionality and a built-in WOW factor for both the user and client.

According to Stephen Ledger, Kreston Reeves Operations Partner, there were three key considerations in the selection process:

  1. Return on investment
  2. Operational efficiencies
  3. People needed to be behind the final selection decision

He said, “We have four main offices in London and the South East. Fixed building costs, including document storage run in excess of £1million each year.”

“The new Virtual Cabinet system means we can reduce cost by at least £50,000. That is a significant saving.”

“Kreston Reeves is a growing company. We have identified changing working methods and needed a modern solution that could cope with change. A lot of time and money goes into working with paper. We needed a far more productive, secure and accessible solution. We do not want to be sifting through a growing mountain of paper. We wanted to leverage new ways of working”

Stephen Ledger is particularly interested in the benefits the Virtual Cabinet document management process will bring to the firm’s client experience. Instead of clients waiting on phones while historic files are traced and sorted, the Virtual Cabinet enables users to access files and specific documents in seconds. He sees the thumbnail document flicking process as the modern way of viewing long paper trails. He has nothing but praise for the digital signature.

“This is going to save some clients a lot of time and money.”

To ensure all customers get the best from the new document management installation, Kreston Reeves plan to introduce an awareness and user programme. According to Stephen Ledger, if businesses want to increase their efficiency, productivity and reduce operational costs, they need to move into the digital age.

More Customer Stories:

"We can publish a tax return on a client’s personal portal, let them know it is there, request their digital signature - and the system will tell us if the client has looked at it and how many times."
Martin Bugg
Supervisor - Business & Private Client Division
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“The emails I receive on cases can now automatically be filed to the correct client with Email Capture. This is a huge time saver!"
Sam Bailey
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"Virtual Cabinet can provide seamless integration with your existing software – as well as helping to achieve optimal efficiency within your business."
Jackie Werner
Director
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“It couldn’t have gone any better. It’s all perfect.”
Mark Robinson
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“Being able to basically ‘google for a document’ is amazing – efficiency, pure and simple. I love it, and my team love it.”
Dan Heelan
Business Services Manager
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“The installation was incredibly smooth."
Wesley Williams
IT Manager
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