Founded in 2015, Paperfly is a document management and KYC solution powered by Equinox Fintech. In addition to custom services and software, it also provides SaaS products like Paperfly to streamline the various aspects of fiscal process management.
Paperfly is a cloud-hosted platform that lets you automate and organise document-related workflows for finance departments. You can use the product to collect documents, fill out forms, obtain e-signatures, verify customer identity, enable one-click agreements, and enable secure payments. It uses artificial intelligence to recognise input fields and structured information in PDF files.
The Paperfly app for Teams essentially brings the entire document management workflow from creation, configuration, and sharing to approval into the Teams interface. It provides you with a dashboard where you can monitor the status of all the documents associated with a task request, and you can also generate new task requests to initiate a new workflow.
Let us now review the app in more detail.
Inside the Paperfly A]pp for Teams
To start using Paperfly, go to Microsoft AppSource and look for the company’s Teams app. Paperfly is available for a free trial, which means you can install the integration even if you do not have an existing account. Paperfly for Teams offers the following key features:
- Documents collection – Paperfly allows you to collect customer documents via text messages. Once a document is compiled, the app analyses it for quality check and encrypts the file using the AES-256 protocol. Data transmission happens through Equinox’s Germany data centres, or you can also use a custom internal endpoint for greater security and control.
- E-signature – You can use the Paperfly Teams app to prepare a document for signature. Once you collect a document in PDF format, the app identifies and isolates its various information fields such as checkboxes, dropdown lists, multiline text inputs, numerical inputs, etc. it also recognises existing signature fields and gives you the option to add new ones. You can modify signature properties by associating them with a text or numerical label, a default value (e.g., sign here), and mandatory/optional markers.
- Self-designed workflows – You can design your own document processing workflows in Teams. For example, companies using the Paperfly app for bank-related use cases can set up a new account opening workflow. You can add one or more documents for submission (e.g., the account application), documents for information (e.g., income proof), a structured form, or a PDF form. You can set up different workflows for specific use cases, depending on your industry.
- Form creation – In addition to collecting information via PDF documents, you can create digital forms that will be sent to the customer, along with the list of the necessary documentation. The app gives you incredible flexibility when creating forms – you can add/remove elements like text inputs, date input, checkboxes, labels, paragraphs, etc. You can preview the form before finalising and associating with the workflow.
- Payment collection via documents – When adding different documentation elements to a workflow, you can request a payment. For instance, the list of documents required to open an account can be accompanied by an embedded button where customers can directly pay the new account opening fee. You can choose a basic format with the payment name and amount or load an existing invoice template.
- Documents tracking and management – Once all the elements are added and you have shared the workflow with the customer, Paperfly registers it as an open document request. All your open and closed requests will be visible on the Paperfly requests dashboard, along with a list of associated documents and their status. You can start a new request from the dashboard, select a workflow, and send out a list of documentation to be collected from a customer.
Why the Paperfly App for Teams Makes a Difference
Document collection and approval is an everyday use case across industries (finance, utilities, healthcare, legal, HR, etc.), yet it remains plagued with complexities and bottlenecks. Paperfly streamlines this by enabling reusable workflows and consolidating multi-step tasks into a linear process.
What We Think
The Paperfly app for Teams can make a massive difference to any company or function that needs to collect documents from customers or employees regularly.
You can download the free version of Paperfly for Teams here.
