Rubin Partners

Posted: 18.02.09  |  Created by: Do Something

At a glance

• Rubin Partners is a specialist accounting practice in Melbourne, Victoria employing 18 staff and servicing a client mix ranging from companies and trusts to individuals
• they faced the challenge of an ever increasing volume of client files, and compliance with regulations relating to document retention, maintenance and security
• capture and storage of paper-based records needed to be streamlined
• Rubin implemented Redmap's ManageEzy solution in 2002 to scan and automatically index all paper based documents for secure storage and easy retrieval
• they upgraded to ManagePoint in 2004, incorporating enhanced document searching, improved response and retrieval times and a powerful reporting function creating a clear audit trail
• results include easier, more cost-effective compliance with regulations for document storage and retention, improvements in productivity, and freeing up of office space formerly used to store documents, enabling appointment of additional income-generating accounting staff.

Company Profile

Rubin Partners is a specialist accounting practice based in Melbourne, Victoria. Established in 1989, the company employs 18 staff and is managed by the three founding partners. The organisation services a broad client mix from various industries, ranging from companies and trusts to individuals.

Rubin Partners focuses its extensive experience on assisting companies with compliance requirements, tax planning, budgeting, loan applications and self-managed superannuation funds. Due to this diversity, the practice has enjoyed significant growth in recent years.

The challenge

With rapid growth of the business, Rubin Partners was faced with the challenge of an ever increasing volume of client files and significant responsibilities to comply with regulations relating to document retention, maintenance and security.

Capture and storage of paper-based records, emails and electronic documents needed to be streamlined. Key considerations included:

• ease of access to information
• better use of expensive floor space
• reduce risk of losing information in a disaster (eg fire)
• regulatory compliance
• reduce risk of misfiling sensitive client information
• greater efficiencies in the business.

'Paper-Less' strategy

Rubin Partners decided to implement Redmap's ManageEzy and ManagePoint software to electronically capture, store and retrieve critical documentation.

'Paper-Less' solution

Rubin Partners' files include critical documents such as calculations, spreadsheets, correspondence, contracts and other legally binding documents. In 2002, Rubin Partners implemented Redmap's ManageEzy solution. This meant all paper-based documents could be scanned and automatically indexed (filed) for secure storage and easy retrieval.

In 2004, they upgraded to the advanced capabilities of Redmap's ManagePoint solution. The benefits include:

• being able to find any document by text content rather than just indexed values
• a simple solution to compliance responsibilities through advanced audit reporting
• all correspondence, including email, is now indexed and stored in one place 
• enhanced search capability improving response and retrieval times
• powerful reporting functions that create a clear audit trail of all activities in the system.
• during auditing, information can be found quickly and easily.

Rubin Partners can now confidently adhere to compliance regulations enforced by government and financial industry regulators.

Inactive files are periodically archived on to CD using ManagePoint's "Circulate" function. When super fund information is required for auditing, a fully searchable CD copy is produced so that the original records never leave the premises.

'Paper-Less' results

• easier, more cost effective adherence to compliance and audit requirements
• almost immediate return on investment as valuable floor space formerly used to store documents is freed up, enabling the company to expand its team of income-generating accountants
• intellectual property, previously stored in hard copy format, now available at the click of a button from a single system
• dramatically reduced time spent searching, retrieving and filing information
• significant savings in staff time and improvements in productivity
• remote staff are able to securely access files without taking files off the premises, eliminating the risk of file loss.

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