Tareno cut daily document processing from 4 hours to 45 minutes

A wealth manager handling CHF 2.8 billion — and growing

Tareno is an independent Swiss wealth manager based in Basel, serving private clients since 2000. With CHF 2.8 billion in assets under management, the firm ranks among the 15 largest independent wealth managers in Switzerland. It operates offices in Basel, Zurich, and Luxembourg, with a team of 40+ professionals.

In 2019, Tareno recognised that staying competitive required a comprehensive digital strategy — including a full review of its IT infrastructure. The firm identified three priorities: outsourcing non-core functions, optimising its existing IT architecture, and building efficient digital interfaces with custodian banks.

Our IT infrastructure is our engine. By upgrading it with the right digital tools, we drive ourselves forward with efficiency and success.
— Doron Bollag, Managing Partner, COO, CFO, Member of the Management Board, Tareno

Tareno started with an upgrade to a new central portfolio management system: Expersoft PM1. The next step was implementing a document management system — primarily to streamline workflows, improve compliance processes, and make audits easier. Addressing the inefficiencies of manual document handling was equally important.

90,000 bank documents a year. All processed by hand

When Tareno was ready to introduce a document management system, the firm was already processing 90,000 bank documents a year. Most arrived physically from the banks and required significant manual effort. Scanning paper, entering data, and indexing were daily tasks handled entirely by staff. The work was tedious, error-prone, and slow. Two employees spent a combined four hours on this task every day — equivalent to 250 working days a year.

Manual processing of bank documents is the bottleneck for scalability and growth.
— Doron Bollag, Managing Partner, COO, CFO, Member of the Management Board, Tareno

The solution: Next Digital Workplace

Tareno deployed Next Digital Workplace eDMS — Nextway’s core document management platform. What Tareno quickly discovered was that the real strength of Next lies in its connectivity to more than 900 banks and its seamless integration with data from Expersoft PM1.

By digitising documents, Next enables a lightning-fast transition from manual to automated processes. Once everything is digital, document retrieval and indexing become straightforward. At the same time, critical business processes can also be automated. Beyond increasing productivity, Next helps identify and remove inefficiencies before they become a problem.

Next has become a central part of the IT landscape in professional wealth management.

Why Nextway, compared to other providers? Being an international vendor with long-standing experience in the Swiss financial market was a significant factor. It ensures regulatory compliance and gives clients confidence.

From 4 hours to 45 minutes a day

From the start, Tareno achieved an 80% reduction in document processing time with Next. That translates to a reduction from 1,000 hours a year to 187 — and this is only the starting point.

Even with the best automation in place, some manual work remains. For Tareno, that daily workload dropped from four hours to 45 minutes. Their stated goal is to reduce this further — to a 30-minute daily standard — through continuous optimisation.

Our document volume grows by 5% every year. But with Next, we won’t feel that burden. This scalability is a real game-changer.
— Doron Bollag, Managing Partner, COO, CFO, Member of the Management Board, Tareno

A phased rollout across nine months

Migrating to a new system is never straightforward. But it becomes easier when staff embrace the change. Tareno, with its distinct organisational culture, recognised the value of a step-by-step approach for a smooth transition.

The rollout began with archiving bank statements and replacing the firm’s existing archiving solution to handle internal records and client documents. Archiving personal folders, processing HR documents, managing compliance records, and improving internal workflows were among the first use cases. Over nine months, Tareno continuously refined its approach. The shift from manual to digital required a change in mindset — but the time invested paid off.

From workshop to go-live: six steps

1. Workshop
2. Software installation
3. Setup
4. Training
5. Launch
6. Customer care

The next step: a full view of every client portfolio

Tareno’s vision extends well beyond archiving bank documents. From the outset, the firm expanded the solution to manage different document types and optimise internal processes.

Today, the goal is a comprehensive 360-degree view of each client relationship and portfolio, combined with increasing efficiency through progressive automation. Small steps towards digitisation can lead to significant gains in both efficiency and scalability.

For Doron Bollag, COO of Tareno, this is not only about cost efficiency. It is about the quality you get from the partners you work with:

If we continue working with partners like Nextway and Expersoft, we have a solid foundation for quality. We need to invest in this quality to deliver excellent performance.
— Doron Bollag, Managing Partner, COO, CFO, Member of the Management Board, Tareno

‍