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Note: Headnote: Pittsburgh investment advisory firm uses document management software to automate trades, document reviews.
Xpyria Investment Advisors in Pittsburgh, $412 million in assets under management and serving 140 high-net-worth and institutional clients, began scanning and electronically storing all customer-related documents in the middle of last year. "Great timing on our part by the way," notes president and CEO Joe Salpietro facetiously, referring to the bear markets of late 2008. Documents are scanned at 300 dpi in black and white and stored into a Laserfiche document management system; although Salpietro would like to store documents in color at 600 dpi, "my experience is, those documents become so huge that even a one-page document turns into a megafile and if you need to email it, you can't without buying email servers."
Recently, the firm used the software's new workflow module to automate a formerly...