TauRes knows that investment and insurance products are not one-size fits all. In order to best serve its clients, TauRes conducts face to face interviews with clients in its offices to find the products best aligned to its clients' needs. During the interview process, a TauRes consultant collects important personal and financial data that helps steer a financial analysis toward appropriate investment options. Historically, this data was collected on static pdf documents where client data would be marooned on the form forever. It was not possible to automatically share this data with insurance companies and often forms would have to be printed out, and the data manually re-entered into another system. Furthermore when signatures were needed, they were done manually. Perhaps most importantly, there was no way to do any integrated workflow. Processes existed in their own stovepipes and data was not automatically available between them.
TauRes chose Form.io to reduce its manual data collection workload and to standardize the way it ingests data across all its processes. With Form.io, as the entry point for all client intake interviews, client data can be permanently captured and ready for use. For instance, client data can be automatically shared with 3rd party insurance companies for the completion of investment purchases. With the electronic signature capability, clients no longer have to wait for a form to be printed and signed manually in person. Using Form.io as a standardized electronic forms platform, TauRes has a tool to use as a starting point for all its current and future processes, including a new ticketing system and other web-based solutions. Because Form.io, supports rest APIs, developers are assured that all forms developed by business users can be easily repurposed to populate any existing or future contemplated application, in a matter of minutes.
TauRes can focus on growth without slowing down for the tedious bottleneck of manual data collection. The solution is distributed so now offices around Germany can create their own “fast forms,” and put them to use immediately. Data can be automatically shared between TauRes and their 3rd party investment partners, like insurance companies. Signatures can be executed electronically, drastically reducing the time it takes to secure investments. Consultants can focus more attention on the needs of their clients and less time generating paperwork or serving bureaucratic functions. TauRes estimates that the workload associated with data processing has been cut by 50 percent. Plus, they now have a standardized forms-based system that is agile enough to grow, as they do.