One of the UK’s largest self-invested personal pension providers introduces automated electronic classification to streamline workflows and improve customer service
Automating Document Classification at James Hay
London, UK, XX Month 2012: Capital Capture, a specialist in electronic capture services across financial services and insurance markets has been appointed by James Hay Partnership, one of the UK’s largest self-invested personal pension providers, to streamline manual administration by improving routing speed and accuracy. After implementing Kofax KTM, an automated document classification solution, the firm now routes 75% of all incoming documents automatically. 
James Hay Partnership administers £14 billion of assets and services over 45,000* clients. On a weekly basis the firm is challenged with manually managing approximately 4,500 incoming documents. The organisation wanted to reduce its administration processes, to free up staff to focus on core business activities and improve customer service.
“We chose Capital Capture to design and install an automated document classification solution as we were already using Kofax Capture, to manage our existing scanning process. So it made sense to enhance our legacy process and select the classification and indexing module Kofax KTM to address our routing accuracy,” says Iain Tait, CIO at James Hay Partnership.
Shortly after the installation of KTM, 45% of all incoming documents were being automatically classified and through continuous training, this quickly increased to 75%. Just 11 weeks after implementation, the solution now handles all automated classification by identifying key words, numbers and phrases within incoming documents.
“Once indexed and classified within Kofax KTM, individual pieces of electronic mail are then routed into the firms internal work streams and to the correct account executive,” says Mark Kirpalani, managing director, Capital Capture. “By working in this manner, it becomes easier to handle greater volumes of documents, which is particularly helpful as the business continues to grow.”
Justin Goldsmith, IT Development Manager at James Hay Partnership adds, “We are extremely pleased with the initial results and the firms target of reducing its routing speeds by 60 minutes is now highly achievable. And as the classification engine continues to learn an increasing number of file structures, the benefits to our organisation overall, not least of all productivity of our staff, will continue to increase.”
About Capital Capture’s Document Automation
About Capital Capture
Capital Capture is a specialist provider of business-critical electronic document and data capture solutions and services designed to automate and replace inefficient manual document-based processes. Founded in 1998 and with headquarters on Old Street London EC1, the firm is dedicated to providing outsourced intelligent capture solutions and services, document process analysis and design, and technical support to organisations throughout the UK. The flexible document capture specialist serves hundreds of clients in a range of industries including banking and finance, insurance, government, public sector, telecommunications, manufacturing and legal: www.capitalcapture.com
James Hay Partnership and Its Services
About James Hay Partnership
James Hay Partnership is one of the largest providers of SIPPs in the UK and also offers Wrap and SSASs. James Hay Partnership has been working with financial advisers and clients for over 30 years to administer pension, savings and investments in the most cost and tax efficient way. So as you might expect, we have developed a level of expertise which we believe is highly commendable in the industry. Today we look after the pension and investment savings of over 45,000* clients and £14* billion of assets.
Formation and Structure of James Hay Partnership
James Hay Partnership was formed in February 2011 as a result of the integration of James Hay and the IPS Partnership bringing together the best of both companies. James Hay Partnership is part of the IFG Group, a highly diversified financial services company specialising in the provision of independent financial advisory and administrative services. Headquartered in Dublin, Ireland, IFG Group plc has operations in the UK, Isle of Man, Jersey, Cyprus and Switzerland. IFG Group is listed on the Irish and London Stock Exchanges.
*as at December 2011
Media and Press Contact Details
For further information, please contact:
Lucy Wain
Capital Capture
Tel: 020 7314 7700
Email: Lucy.Wain@capitalcapture.com
Simon Reeves
The Whiteoaks Consultancy
Tel: 01252 727313 (ext. 240)
Email: simonr@whiteoaks.co.uk
Riz Issa
FTI Consulting
Tel: 020 7269 7120
Email: rizwana.issa@fticonsulting.com
