Customer stories

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OpenText™ LiquidOffice™ helps Baird achieve tremendous productivity and efficiency gains. OpenText Intelligent Forms Automation solution enhances Baird’s operational efficiency times and increases profit and growth

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Challenges

  • Human-centric processing errors lead to inaccurate accounting
  • Cumbersome paper-based client experiences and content management
  • Time-consuming and labor-intensive manual processes slow on boarding processes

Results

  • Reduced paperwork and process time from weeks to hours

  • Improved information accuracy and decreased human-centric processing errors

  • Established full auditing capability: who touched what record when, and what did they do with it

Story

Robert W. Baird & Co. (Baird) is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,500 associates serving the needs of individual, corporate, institutional and municipal clients. Baird oversees and manages client assets of more than $75 billion.

colleagues performing data analysis

OpenText LiquidOffice allows our company to operate with the speed and agility we need to provide superior service to our clients. We can gather all the necessary forms for the client with the click of a button. We are very pleased with the product’s performance, scalability, and security.

Scott Hanson
Operations Strategic Support Director, Baird

Challenge

Baird wanted to significantly enhance its operational efficiency and employee productivity. In the past, when Baird established a new client relationship, the private wealth management team would have to obtain its new client’s paperwork and manually input the data into a content management system. The onboarding process touches on critical line-of-business systems, regulatory compliance and a company’s intellectual capital. This was a very time-consuming and labor-intensive process. On     boarding new brokers also involves transferring data about the many new customers with current investment products into the Baird accounting system.

Solution

With LiquidOffice and its Intelligent Forms Automation capabilities, Baird is able to rapidly transform all new client paperwork into digital data, bringing control, security and visibility into every step of the on     boarding process. As a result, Baird can double its volume without having to increase its staff, delivering significant cost savings to the company.

“OpenText LiquidOffice allows our company to operate with the speed and agility we need to provide superior service to our clients,” says Scott Hanson, operations strategic support director at Baird. “Prior to the deployment of LiquidOffice, our users had to search for the documents needed to facilitate our transactions or they would have to follow up with the client to get additional documents signed. Now, they can gather all of the necessary forms for the client with the click of a button. We are very pleased with the product’s performance, scalability, and security capability.”

LiquidOffice addresses the need in complex eForms and information processing implementations to manage forms and documents together throughout a process as a combined packet. With LiquidOffice’s ability to manage forms, data and documents together within a packet, and dynamically access these standalone or as part of a collection, Baird is able to adjust its process depending upon real-time conditions that are automatically detected.

This allows packets to be acted upon in the same manner that individuals are accustomed to in a paper world, but with the underpinning of completely secure and automated processes. Users are guided through the process using an intuitive wizard or table-of-contents-type directory to ensure completion at each step.

OpenText LiquidOffice allows our company to operate with the speed and agility we need to provide superior service to our clients.

Scott Hanson
Operations Strategic Support Director, Baird

Benefits

Baird has transformed its traditional paper-intensive client onboarding process into an automated digital process using LiquidOffice’s Intelligent Forms Automation capabilities. As a result, the company was able to reduce its paper processing time by 75 percent within the first six weeks of implementation.

LiquidOffice has the ability to deliver intelligence to customers’ business processes, leveraging powerful eForms capabilities to collect and share information, guiding users through potentially complex processes while adhering to corporate compliance policies. It proactively assists the user in following corporate compliance policies and eliminates the idle time between stages and errors that characterizes traditional manual paper processes.

The power of LiquidOffice is most apparent when automating people- and forms-driven processes, such as those in financial services, where information is often very dynamic and needs to be acted upon in parallel by many individuals. LiquidOffice provides a comprehensive Intelligent Forms Automation solution to help customers manage their complex business processes while ensuring compliance and full transparency in real-time.

About Baird

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Robert W. Baird & Co. (Baird) is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,500 associates serving the needs of individual, corporate, institutional, and municipal clients. Baird oversees and manages client assets of more than $75 billion.