DOES YOUR COMPANY WORK WITH A SINGLE SOURCE OF INFORMATION?
Single source of truth, unified data, unified access, reliable decisions: discover how M-Files gives a complete view of every client.
Galaxy Conseils • Banking & financial institutions sector
The bank's senior management meets for an important decision: should the partnership with Société Alpha, Aïcha's company, be expanded by handing it maintenance for every branch in the country, while also raising her credit lines?
Each department arrives with its own figures. Procurement presents Société Alpha's contracts and invoices as a supplier. The sales department presents the relationship as a client: accounts, loans, funded projects. Legal brings the framework agreements.
But the numbers don't match. The invoice amount isn't the same in the procurement report as in the accounting one. A funded project appears in one presentation and not the other. Half the meeting is spent figuring out which figures are correct.
The decision is pushed to the following month. Meanwhile, Aïcha is waiting for an answer that will determine her hiring plans. The bank knew Société Alpha well, but it didn't have a single view of it.
A decision is never better than the information it rests on. Yet in many organizations, each department builds its own view from its own files.
Diverging figures. Each report is prepared from different extracts, on different dates.
A partial view. Everyone sees their part of the relationship, no one sees the whole.
Meetings spent on figures. Time goes into debating data reliability instead of deciding.
Delayed decisions. Without reliable information, it feels safer to wait.
Working with a single source of information means bringing together, around each client, supplier, or project, everything that concerns it (documents, contracts, invoices, projects) in one up-to-date view, consulted by everyone who needs it.
Let's replay the story, this time at a bank using M-Files.
1. Collect. The documents and data concerning Société Alpha are brought together from the different sources: contracts, invoices, project documents, correspondence.
2. Unify. They are all attached to a single record: "Société Alpha," marked "Single source." No more separate "supplier" record on one side and "client" record on the other.
3. Enrich. Each department adds what it knows to the record: procurement adds the invoices, sales the funded projects, legal the framework agreements.
4. Share. Management consults the same record, with its linked elements: Documents, Projects, Invoices, Contracts. They even check it on their phone before the meeting.
5. Decide. In the meeting, everyone looks at the same figures. The discussion finally focuses on substance: the value of the partnership and the risks.
The decision is made in a single session: the partnership is expanded and Aïcha's credit lines are increased. She can launch her hiring, and the bank knows exactly what it decided, and why.
A single source of information. One record per client, supplier, or project, with everything that concerns it.
Unified data. Documents, contracts, invoices and projects are linked instead of scattered.
Unified access. Every department consults the same information, on computer as well as on mobile, according to their rights.
Reliable decisions. Meetings focus on the choices to make, not on how reliable the figures are.
M-Files organizes information around what matters to the business: clients, suppliers, projects, contracts. Every document is linked to these objects, making it possible to get, in one click, a complete view of everything concerning Société Alpha.
When some data lives in other systems, M-Files can connect to it to display it in the same view. Access rights always apply: everyone sees only what they're authorized to see, even within a shared view.
And because the record is alive, it stays up to date as contracts, invoices and projects move forward, with no need to rebuild a file before every meeting.
Ask yourself:
"At your last management meeting, how much time did you spend agreeing on the figures before you could even decide?"
If the answer is "too much," your organization deserves a single source of information.
At Galaxy Conseils, we help banks and financial institutions unify access to their information with M-Files, so that every decision rests on a common, reliable foundation. Want to see concretely what this would look like at your bank?
Galaxy Conseils: innovation serving your performance.
Do your software systems really talk to each other? Connected systems, linked information, smooth exchanges, simplified data entry: discover how M-Files connectors eliminate double entry.
Read more
Multiple systems, multiple versions of the information? Central hub, reference information, single version, unified access: make M-Files the reference for your client data.
Read more
Why digitize your accounting management? Online accounting, time savings, secure data: an overview of the software types suited to Cameroonian SMEs and criteria to choose well.
Read moreContact us to learn more about our news and upcoming events.
Our offers, news and document management tips, straight to your inbox. One e-mail a month at most.
Unsubscribe in one click at any time. Privacy policy
Check your inbox
We've sent you a confirmation link. Click it to complete your sign-up.
Comments
No comments yet. Be the first to react!