Laserfiche or Docupace: Which Is Best for Financial Management Services?
To meet growing customer demands while also improving operational efficiency, you need the right workflow management software. For financial, wealth management, and banking service providers, both Docupace and Laserfiche rise to the top. But how do these tools differ, and which is best for your organization? Let’s take a closer look.
The basics:
An AI-powered enterprise content management solution focused on document management and process automation.
- Automating business processes to boost productivity and eliminate busywork.
- Improving collaboration across teams, offices, departments, or locations
- Increasing accessibility while simultaneously boosting data security
A financial service management platform dedicated to helping users transform how they manage accounts, improve data visibility, and simplify reporting.
- Eliminating paperwork and saving time on back-office operations
- Increasing access to actionable insights powered by data and reporting
- Empowering financial professionals to focus more on advising clients and growing their businesses
Who is it for?
Built to streamline account management, reporting, and back-office operations, Docupace is an ideal option for wealth management and financial advisory services. Laserfiche, on the other hand, is a more adaptable enterprise content management solution that supports a wider range of financial and banking services.
Docupace
Laserfiche
Comparing Key Areas of Difference
If you’re looking for a robust wealth management tool, Docupace may be the best fit for you. For other services and industries within the realm of financial services and banking, though, Docupace’s purpose-built solutions may not feel like the right fit.
Beyond wealth management, financial advising, and account management, Docupace’s core capabilities resemble Laserfiche’s. Still, there are some key differences in what these platforms offer. Let’s see how Docupace and Laserfiche compare where it counts the most:
- “SEC Approved” messaging doesn’t mention that additional steps are required for true compliance
- FINRA and SEC 17a-4 verified solutions
- Integrated WORM storage
- Unbeatable record immutability
As an industry leader, Laserfiche combines FINRA-verified compliance measures with tailor-made tools to support financial service teams of all sizes. The platform includes robust, practical automation to streamline workflows with:
- Smart data capture
- Superior records management
- Ready-to-use templates to boost your business operations
- Rigid, predefined workflows
- Difficult to modify existing automations
- Charges extra for data extractions and specialized requests
- Fully customizable workflow designer
- Drag-and-drop simplicity for teams and IT departments
- No hidden “extraction fees”
Docupace promotes its ability to streamline workflows by supporting financial institutions with real-time insights and actionable data collection. While they emphasize the creation of bespoke dashboards, their offerings may leave much to be desired in terms of scalability, security, and customization.
- Clunky, non-intuitive interface
- Steep learning curve
- Minimal updates
- Modern, streamlined interface
- Ease of use fosters seamless adoption and productivity
- Regular updates keep you on the cutting edge
A common complaint about Docupace is its outdated interface, which many users find to be confusing. The interface also doesn’t allow much room for customization, meaning users have little opportunity to adjust it to better suit their needs and truly help them save time.
Laserfiche’s adaptable interface is designed with innovation in mind. Its user-friendly design makes it simple to hit the ground running and start building customized workflows for your teams.
How Laserfiche Elevates Your Financial Services Workflows
Laserfiche is an award-winning industry leader for a reason. Here are some key features that make it a must for financial institutions across the board:
Laserfiche comes with hundreds of ready-made solutions and customizable templates to help you get a jump on efficient, integrated workflows.
Safeguard your most sensitive data with best-in-class compliance and award-winning document management for robust security and superior, organization-wide data protection.
Laserfiche is ready to plug into your current tech stack with connectors for hundreds of applications. Make use of simple low-code tools to create your own integrations for a solution that blends seamlessly with your most critical software.
Laserfiche is designed to transform the most complex workflows with straightforward, scalable functionality. It can help standardize internal processes, meaning it’s ready to grow with your organization.
Don’t get bogged down with complicated billing. A single subscription price gets you access to all the key features that make Laserfiche great.
Get more work done with Laserfiche AI, which enables your teams to make their jobs easier. Take control of crucial business processes, automate repetitive tasks, and skyrocket producing, all without sacrificing data privacy.
The Bottom Line
Overall, Docupace’s platform is optimized for financial advisory and wealth management services. With its focus on account management, data and reporting, and integrations with other tools, Docupace is designed to be one part of a tech stack.
It also doesn’t feature the automation or document management tools that Laserfiche does. Plus, its lackluster user experience and high learning curve mean that it can take a while to truly start bringing value to your teams.
If Docupace’s platform isn’t the right match for your needs, Laserfiche could be a better option. Upgrade to Laserfiche and take advantage of unrivaled automation, document management, and powerful automation that empowers your teams to get more done.