Advanced Corretora gains operational efficiency through the digital signature
Power control, agility, online control of all electronic contracts, reduced costs and productivity increase.
Proposed Solution
SaaS (Software as a Service) solution for Digital Signature and Workflow through the QualiSign Portal
Client’s Need
Gain operational efficiency with digital signature.
About Advanced Corretora
Founded 15 years ago as a foreign exchange group with a strong presence in the tourism exchange and national representativeness, in 2013 Advanced Corretora achieved the highest revenue in its history and was classified as the 5th* brokerage firm in the ranking of the largest foreign exchange brokerage firms in Brazil, in the primary. In this escalation, Advanced grew consistently by expanding its operations to the commercial and insurance exchange, in addition to the important acquisitions and regulations made by the Central Bank, which, in 2010, authorized brokers to operate with their own exchange position. Casa Paulista S/A, Corretora Magliano and Corretora Souza Barros were important acquisitions to leverage its growth, in addition to solidifying themselves in the market with the creation of 3 pillars: tourism exchange, commercial exchange and insurance. (*Source: Central Bank of Brazil).
The Experience
It is an agile exchange broker with a great appetite for growth. It is thus that Advanced Corretora, founded in 1999, has been obtaining expressive results in the foreign exchange market. In 2013, Advanced had a 52% growth in its revenue from its own foreign exchange operations, with a turnover amounting to US$ 622 million. In this way, the brokerage firm reached the 5th position* among the largest foreign exchange brokers in Brazil, in the primary market. “Personalized service is the main differentiator and what made Advanced grow in this way and that fast”, comments Juleandro Barosa, Manager of Advanced's Commercial team.
Advanced currently has 120 employees and more than 10,000 active customers. Last year, more than 40 thousand of its own foreign exchange transactions were carried out, and approximately 60 thousand of them were intermediation transactions, with R$ 22 billion operations.
In order to meet the significant increase in the volume of foreign exchange transactions, which currently reaches 3.4 thousand transactions/month, Advanced's BackOffice area noticed the need for a more automated process, especially with regard to the formalization of contracts. “Foreign exchange operations are agile, but formalization brings increasing costs for paper transportation, control and storage. To tackle this problem, we are looking for a digital signature solution”, comments Wladimir Pereira, in charge of the BackOffice at Advanced.
In order to quickly implement the digital signature of contracts, a ready-made solution was sought in the market. The solution adopted was the QualiSign Portal. Fast service and support, a reliable solution and competitive prices were the determining variables for this choice.
The use of the digital signature also brought other benefits to the brokerage firm, such as the control of powers. “With the digital signature, we have more security, as we are sure that the one who signed it is the company's legal representative. Another significant gain was the agility and online control of all digitally signed contracts. In addition to being able to quickly locate any contract, we are able to meet other demands more easily and quickly, such as internal audits, Central Bank and inspection, made by the Federal Revenue,” emphasized Wladimir.
Advanced chose to integrate the BackOffice system with the QualiSign Portal, which brought an even greater increase in productivity. As a result, operations do not need to be retyped on the subscription portal. They automatically migrate from the BackOffice system to the portal, which immediately triggers the collection and control of digital signatures.
Currently, 23% of contracts are already digitally signed. “We are creating campaigns to encourage our customers, who still sign contracts on paper, to use the digital signature. Our experience has shown that those who started to digitally sign contracts do not wish to go back to the stone, or rather, the paper age. Some already require the use of digital signatures as a prerequisite for closing the transaction”, emphasizes Juleandro.
The brokerage firm's clients also have advantages, such as agility and reduced costs through batch subscription. “Some customers even sign 100 contracts a day in minutes. Imagine the time spent by executives to sign all these contracts on paper, on a daily basis? Not to mention that they needed to print all the contracts and dispatch them in pouches to the broker. Today, the operation for these customers is swift and they can sign the entire batch in minutes,” says Wladimir.
Another important discovery made by the BackOffice area was the identification that some customers already had a digital certificate, using it, however, only for fiscal and tax purposes, being unaware that it could be used to digitally sign exchange contracts.
This year, the brokerage firm is forecasting a 30% growth in revenue, thus maintaining its streamlined pace of expansion.
