Legal and Financial

At NSC Diversified, our decades of experience in providing first-class expertise and knowledge to firms in the legal and financial industries to help them respond to growing competition, new regulatory requirements, and an increase in customer base.

This targeted experience allows us to focus on — and manage — the many challenges faced by professionals and business leaders in the finance and legal industries, such as:

Inefficient Document Retrieval

The legal industry handles a vast number of litigation documents including reports, transcripts, case files and other court documents. In banking and finance, customer correspondence and critical financial documents must be stored — and easily located — to speed productivity and reduce human error.

Fortunately, a properly designed document management system can streamline operations, eliminate the possibility of lost or missing information, reduce human error, and save space.

Client Chargeback

In the finance industry, the impact of chargebacks can total more than $150 billion every year across all institutions. For issuers and acquirers, this can add up to increased fines and penalties as well as staff time spent resolving disputes.

In addition, the government has increased banking regulations to give consumers more power to dispute payments. These increased regulations in addition to consumer pressure has made compliance more difficult.

However, resolving disputes manually is an error-prone, inefficient, and time-consuming process that drains productivity and increases staff frustration.

A Document Management system can assist in managing overflowing pend queues, reducing false positives, and managing the overall cost of compliance.

Data Security

For legal and financial institutions that are entrusted with highly sensitive data, the need for increased data security is paramount.

Increasing regulations, both at the state and local levels, that govern data privacy and protection require strict compliance and oversight — both of which can be a burden to staff and resources.

A Managed Network Services provider can provide increased security and assurance through continual update of both hardware and software, advanced encryption and firewalls, pre-emptive protection, and real-time comprehensive network security managed on a 24/7 basis 365 days of the year.

Compliance Issues

Increasing compliance with state and local data privacy statutes and regulations are an ongoing concern for both financial and legal entities.

Automatic management and protection of data can be realized through the application of Document Management software, Managed Network Services, and Managed Print Services, all of which assist these industries in tracking, securing, and storing data for IT and regulatory compliance.

Transition to Digital

As more consumers transition to digital environments and business enterprises focus more closely on digital initiatives, leaders in the legal and finance industries need to be well-positioned to support their clients’ digital transformation.

For that reason, a shift to managed services that emphasize coordination with digital technologies — Managed Print, Managed Network, and Document Management — can assist institutions in the legal and finance sectors in better serving customers.

These services not only provide distinct advantages, including increased productivity, reduced human error, and more secure processing of data, but also provides a competitive edge in an already overcrowded marketplace.

Disaster Recovery Plans

Because law offices, banks, and other similar institutions handle sensitive and critical data, they must be properly prepared in the event of a natural disaster like fire or flood as well as protected against the ever-increasing threat of cybercrime.

And the danger is real — according to a report from the Federal Emergency Management Agency (FEMA), over 90 percent of businesses fail within two years of experiencing a catastrophic event.

Having the proper assessment by a competent Managed Services provider can ascertain your organization’s risk level and work at reducing threats, managing risks, and preparing redundancy in case of an event.

Document Distribution

For the modern legal or finance business, sending documents securely electronically is paramount.

Electronic document distribution can improve security, increase efficiency through automated search, and reduce costs through streamlined storage and increased productivity.

Better access to information through proper Document Management can even assist with smoother auditing processes, better integration, and greater visibility.