ASK Group – Mumbai, India

ASK Group is a diversified financial services company, which offers Portfolio Management Services through equity investments to domestic clients, both individuals and corporate.

Solution

ASK Group purchased Contentverse in 2005 primarily to cater to the needs of their Client Servicing department. They had to manage the increasing volume of client applications and supporting documents. ASK was looking for a solution that could store and retrieve their corporate as well as individual client documents. This included an activation form, registration form, required proofs (PAN Card, De-mat Proof) power of attorney and board resolution of company.  Storing these documents was an issue because it was eating into their office space and had to be moved to a warehouse.

A detailed system study was completed, and it took about a week to design a proper Cabinet/Folder structure.  Security on the documents was also discussed and user rights were restricted to just view and print.

Conclusion

After implementing Contentverse, there was instant ROI. They were able to service their clients better with all the documents available at a click of a button while attending to them over phone. Before having a document management system in place, ASK used auditing, which was time-consuming and needed resources to allocate information to auditors. Now the auditor is provided with restricted access to Contentverse and is able to perform his duties without disturbing the client servicing deparment’s day-to-day activities.

ASK’s senior management needed a comprehensive list of  various documents not provided by their clients. Documents like PAN CARD, De-mat Proof, and photo and bank statements were crucial, and as per norms set by the Securities and Exchange Board of India such documents are mandatory. SEBI had the authority to cancel licenses of shares and security companies or impose heavy penalties if their guidelines were not followed.

Using Contentverse, a list of defaulters who had not provided the necessary documents was easily produced. Such information proved to be a blessing in disguise to the Client Servicing department.

Currently, Contentverse is being considered by ASK Wealth Advisors, one of ASK Group’s subsidiary companies.