FormXtract Will Accelerate Processing and Enhance Data Accuracy
Redondo Beach, CA - November 19, 2024 - Quik! — the industry leader in enterprise forms processing — is expanding its six-year partnership with Forms Logic to release a streamlined process, backed by FormXtract, that improves form automation. Through this longstanding partnership, the new offering highlights the continued innovation aimed at improving the flow and handling of data for advisors in transition.
FormXtract, released earlier this year by Quik!, is an AI-driven product that turns forms into actionable data. With the number of forms required to execute the average transition, it’s impossible to have everything completed with e-signature. The tool is designed to speed up data extraction and processing, making workflows more efficient and accurate for operations managers, transaction processing teams, compliance professionals, and anyone processing complex forms in a variety of formats. With many transitions still driven by paper-based processes and forms that are wet-signed or modified during e-signing, the data can be difficult to extract. FormXtract solves this by reading the signed and completed documents and accurately making the data digital again. In addition, the service eliminates the need for repetitive, time-consuming manual data handling.
Clients leveraging this new tool through the Quik!/Forms Logic partnership are empowered to automate processes and operations intelligently and also focus on data context. Quik! enables Forms Logic to both generate prefilled forms and capture data off submitted forms to ensure all the transition paperwork is done quickly and seamlessly.
"It's the missing link in efficient processing, and the result is a faster and better transition for both advisors and their clients," said Richard Walker, CEO and Co-founder of Quik! "We're excited to continually evolve and elevate our partnership with Rick Burgess and the Forms Logic team through the use of FormXtract. Their transition product, the Forms Logic Migrator Platform, is one of the best in the market for advisors in transition and we look forward to the exponential impact our collaboration has with their customers who use the tool."
"Our partnership with Quik! has been invaluable through the years as Forms Logic has grown and matured," said Rick Burgess, CEO and Founder of Forms Logic. "With all the changes that have happened in the financial service industry over the years, Quik! has been able to provide its amazing level of service through it all. The introduction of the FormXtract component has given Forms Logic an amazing opportunity to make our Broker Dealer and RIA clients even more efficient while reducing their labor costs of retyping data."
FormXtract will directly support the Forms Logic Migrator Platform, which provides a digital advisor transitions solution that quickly pre-populates all the advisor paperwork and significantly reduces NIGOs. This cloud-based platform enables broker-dealers, RIAs, and independent advisors to save time, money, and effort by leveraging a digital process during transition. Through this integrated partnership, the solution allows for more seamless integration, enhanced data accuracy, and accelerated data handling.
Seamless Integration: Forms Logic, powered by Quik!, integrates directly into existing systems, allowing for automated form completion and transitions without the need for manual input.
Enhanced Data Accuracy: Quik!'s API ensures that Forms Logic pulls accurate, up-to-date data from multiple sources, reducing errors and streamlining workflows for users.
Accelerated Processing: By leveraging Quik!'s technology, Forms Logic accelerates data handling, allowing quicker transitions and more efficient management of customer information.
"This is just the beginning of how AI-backed tools can improve business processes and eliminate the burden that has traditionally bogged down operations and firm growth," said Richard Walker. "The more we can save hours - or even days - in this age-old endeavor, the more time our clients have the opportunity to focus on delivering the value to their clients in a way only they can."
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About Quik!
Founded in 2002, Quik! is a combination of software and service for companies looking to maximize their efficiency and productivity in processing forms — both internal and those provided by a third party. The Quik! products range from a turnkey product for an individual user to comprehensive APIs that enable customer implementations built directly into their existing technology infrastructure. Quik! is used by over 100,000 professional users who have generated over 100,000,000 forms and saved over 95,000 trees.
In addition, Quik! serves the wealth management industry by managing the most extensive library of financial forms (over 40,000) that are fillable, interactive, secure, and e-signable. Solutions using Quik! move more data to and through the form than any other solution available to financial professionals using a defined set of over 1.2 million fields. This provides consistency in handling and moving data through the process. Learn more at www.quikforms.com/formxtract.
About Forms Logic
Forms Logic, born from the demands of our financial services clientele, was founded by Rick Burgess in 2015. Recognizing the need for streamlined paperwork management, the company harnessed the power of cloud-based technology to revolutionize how data and forms are handled and commercialized the platform in 2019.
Today, Forms Logic is a testament to simplicity in financial services by providing quicker new account opening and less error-prone transitions. Our intuitive user interface empowers thousands of advisors and clients, facilitating smooth business processes. With our Navigator and Advisor Migrator Platforms, data input translates seamlessly into all necessary paperwork. The result? Time saved, data accuracy enhanced, and back-office operations optimized for efficiency. Learn more at www.formslogic.com.
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