What do they do?
Threadneedle Investment are a successful asset management company.
Why did they need our help?
Threadneedle needed help in managing large volumes of leases, contracts and legal documents for its property operation.
Property conveyancing is a document intensive process. For each transaction legal documents and property particulars will typically be copied six times and distributed to buyers, sellers and legal teams. Such a paper-intensive process creates a burden on clerical staff and consumes large amounts of storage space.
How did we help them?
We recommended that Threadneedle use our document management system.
The results speak for themselves:
- As a direct result of the change from paper storage to access to documents online, the property conveyancing administration process was reduced from 12 to five days per transaction
- In one three month period, £70,000 was saved in photocopying and distribution costs
- In their post-project assessment, Threadneedle have attributed a notional £140,000 saving in storing, retrieving and copying documents.
Threadneedle have freed up space in their Saxmore Street office in London, which had 12,000 square feet of space committed to paper storage. At an all-inclusive cost of £100 per square foot this premium workspace was being occupied by paper when it could otherwise be used to provide staff with a better working environment
What do they have to say about us?
“Lease Agreements are legal documents and - as such - the integrity of the content has to be assured. Bottomline’s (formerly HMSL’s) role was to provide a high quality outsourced document capture service to process the back-storage volume of property files. This involved sorting, preparing, scanning and return of documents in an electronic form with the hard-copy returned as it was received.
The new system is good for customer service and motivating for our staff as now our asset managers can pull-up a lease in 15 seconds without the hassles of jumping into filing cabinets to respond to queries."
Robin Sproull, Head of Business Systems
