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UTI Mutual Fund is one of India's biggest Mutual Fund companies and seventh largest asset Management Company in terms of mutual fund QAAUM with more than 11 million live folios.
UTI Mutual Fund has a footprint of 160 locations across India with approvers spread in different states. The entire operations of the client were carried out on paper which resulted in delays and reduction in efficiency.
The increasing number of physical paper documents resulted in adding cost to the organization and consumed physical storage spaces in offices across the country.
UTI Mutual Fund wanted to digitize the entire process of document management and create a paperless office, wherein the documents could be accessed digitally and remotely by the employees.
UTI Mutual Fund chose Datamatics as their partner in their digital transformation journey.
Datamatics implemented its digital workplace solution using OpenText to digitize the documents and the processing of documents in two key processes (Decision & Approval Process and Payment Process).
The digital workplace solution implemented by Datamatics increased transparency within UTI across all the locations which led to agility in the decision-making process. The solution also digitized the payments of over 20,000 transactions that were carried out by integrating payments to the ERP across various locations.
Digitized leading to faster payments
Led to increased productivity of the employees
Of the documents leading to faster processing and increase in the speed of decision making
With digital documents easy access in any location across the country.
"Datamatics has been a key partner for us in this digital transformation journey. The team was very flexible, proactive and innovative. They had a great understanding of the solution. Datamatics implemented the digital workplace solution within a record time of three months and we have greatly benefitted from the solution."
Executive Vice-President & Head IT - UTI Mutual Fund
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