Overcome HR Document Management challenges in financial services
In the financial services industry, efficient HR document management is a critical yet often overlooked component of success. Whether it’s maintaining regulatory compliance, or ensuring employee data security, financial institutions face unique challenges that can significantly impact their HR operations. These challenges are compounded by the sheer volume of employee documents generated and the strict regulations governing their handling.
To thrive in this demanding environment, financial services organisations need streamlined solutions that enhance productivity, ensure compliance, and minimise risk. Kainos Employee Document Management (Kainos EDM), seamlessly integrated with Workday, is specifically designed to address these challenges. Let’s explore five key HR document management challenges in the financial services sector and how Kainos EDM can help you tackle them.
1. Regulatory compliance and audit readiness
Financial institutions operate under intense regulatory scrutiny, with stringent requirements for document retention and auditability. For organisations operating across different geographies, it becomes increasingly difficult to assure compliance and governance of information. A misstep can lead to significant fines, reputational damage, and operational disruption.
Kainos EDM simplifies compliance with built-in retention policies tailored to jurisdiction-specific regulations. Automated audit trails ensure all documents are tracked, categorised, and easily retrievable, providing peace of mind during audits and inspections.
2. Data security and confidentiality
Employee-related documents contain highly sensitive information, including bank accounts and personal details. Legacy systems and fragmented storage solutions can create vulnerabilities that expose organisations to cyber threats and breaches. By integrating with Workday’s security model, Kainos EDM ensures documents are protected at every level. Role-based access controls restrict document visibility to authorised personnel, safeguarding sensitive information from unauthorised access.
3. Inefficiencies and fragmented systems
In many financial institutions, HR documents are spread across disparate systems, including paper files, legacy applications, and cloud storage solutions. This fragmented approach and navigation across stores leads to inefficiencies, duplication of effort, and reduced productivity. According to a 2025 Gartner report, financial institutions waste an average of 15% of employee time due to inefficiencies in document retrieval.
Kainos EDM consolidates all employee documents into a single, centralised repository - within Workday. This unified approach eliminates silos, streamlines processes, and improves access to critical information for HR, compliance teams, and leadership.
4. Scalability and process automation
As financial institutions grow, so does the complexity of their HR document management needs. Manual processes, such as generating documents, become unsustainable, and the risk of errors increases, such as varied document quality and accuracy. Automating repetitive tasks is essential for maintaining operational efficiency, with The World Economic Forum predicting that automation in document management could reduce operational costs by up to 30% by 2025.
Kainos EDM enables financial organisations to automate employee document generation, distribution, and tracking. Whether you’re managing contracts, onboarding new hires, or managing thousands of annual performance reviews, Kainos EDM accelerates workflows and reduces HR manual effort.
5. Enhancing user experience
Disjointed systems and outdated tools create frustration for employees and HR teams alike. Consider the onboarding process where first impression is vitally important. For financial institutions, where employee engagement directly impacts service quality, delivering a seamless user experience is crucial. Kainos EDM provides an intuitive, self-service interface for employees and HR professionals. Employees can easily access their employee documents, in the place users know best – Workday. HR Data and documents in the one place.
Watch our Customer Conversations webinar with Julius Baer
Want to know more about Kainos Employee Document Management and learn how financial services organisations are using the automation solution?
Watch our 30-minute Customer Conversation, How financial organisations can unify and scale HR document management in Workday. Hear from Julius Baer’s Head of HR Business Technology to discover how the bank is transforming HR document management inside Workday. What you’ll gain:
• Real-world insights from Julius Baer on the challenges that led it to Kainos EDM
• The benefits of the solution across compliance and HR efficiencies
• How Kainos EDM is helping Julius Baer to be seen as a forward-thinking, modern bank.