Daman Investments Document Digitization
As a leading Arab Financial Company, under license from the Central Bank of the United Arab Emirates, applying its extensive regional knowledge and global specialist expertise, Daman was managing all business units on paper centric processes. Lacking alternatives, the company was storing historic documents within the Head Quarter Offices tying up expensive real estate.
To optimize document and data search and retrieval, Daman decided to digitize historic and current business documents and to make their content and index information available in a performant but secure manner. Daman began an evaluation of enterprise capture and business automation solutions and decided to standardize on both Microsoft Content Management Services as well as Kofax Express for ongoing document digitization requirements. In addition, Daman required an outsourcing provider to provide an end to end solution also including physical Records Management.
Daman chose Oryx Technologies to digitize approx. 250,000 pages of backlog and current business documents. Oryx supported Daman in the definition of document types, index and classification requirements. All documents were scanned as an outsourced service by Oryx staff and uploaded to the existing Microsoft SharePoint 2013 solution implemented by Oryx Technologies as part of the engagement. In addition, Kofax Express was implemented to capture ongoing incoming business documents with a direct integration to SharePoint on premise.
After successful migration and upload of all relevant documents and their availability on the SharePoint portal all documents were packed and re-boxed and shipped to Glenbeigh Records Management for long-term, secure storage. The fact that Microsoft and Kofax are off-the-shelf software solutions and market leaders gave the team the additional confidence they made the right choice for Daman. Oryx Technologies transform paper in to reusable business critical content at Daman Investments (PSC).
Daman Investments is a leading provider of non-banking financial services with a proven history of successful investments through consistent application of the core values of quality, accountability and transparency. Daman currently has more than AED 5bn in assets under management. Daman has distinguished themselves by offering innovative investment products and services to both regional and international clients through investment management, venture and development capital investment opportunities, as well as their regional brokerage operations.
“As a Financial Company, we produce a lot of paper on a daily basis, from invoices, quotations, trading documents and so on, in addition employees across all departments spent a lot of time searching for information kept in endless box-files and cabinets that were taking up a lot of valuable real estate on premise.”
Moussa El Najmi | Head of Information Technology
Today at Daman all business documents are stored securely, with a fully centralized administration and document access control. Daman today operates in an 75% paperless environment. The outsourcing of Content Capture and Records Management has enabled Daman to postpone the acquisition of further office space by at least 12 months as new employees can still be facilitated in the current premises. According to Mahdhar Al Tamimi, COO, Daman, the implementation and integration was efficient and within budget.