Piedmont Trust Drives Efficiency Using ECM

Over the last 80 years, Piedmont Trust Company, a private trust company based in Greensboro, NC, has grown from a two-person office serving a single household to a staff of 25 servicing 650 accounts.

To manage growing client files, the firm uses Laserfiche enterprise content management (ECM) as an automation tool for its time-consuming transaction approvals.

“Many of the trusts we deal with have large numbers of transactions, disbursements, receipts and transfers associated with them. Each of these transactions has to go through a multi-step approval process called OFAC (Office of Foreign Asset Control). This process basically involves checking that the people involved in the transaction aren’t on a list of suspected terrorists,” says Ed Wright, Managing Director of IT. “In the past, we would have to manually run through a ton of these transactions in a day, which was very painful for us being such a small office.”

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Using Laserfiche Workflow to route and track transaction documentation across the firm, Piedmont Trust has reduced its multi-step OFAC approval process from three hours into a matter of minutes.

To learn more, please call us at 347-534-1422.