Article

Proper naming is the name of the game

Document and file naming might seem like a minor details in financial operations, but unclear or inconsistent naming can create real friction in document processing workflows. When files arrive with names like 'TPT_V6_20250131_NL0123223457.xls', teams waste time decoding what each document contains and for which client it's relevant.

This naming confusion compounds into hours of lost productivity across organizations:

  • Delays: Staff spend valuable time trying to decipher cryptic filenames and finding out what these files contain
  • Version control issues: Similar filenames make it difficult to identify the most current document
  • Compliance concerns: Important documents may be overlooked during audits or reviews when poorly named

Through conversations with our clients, we identified several common challenges that exacerbate this problem:

Challenge 1: System-generated naming confusion

Many source systems generate files with technical names that don't reflect their contents, relevant accounts, or reporting dates. These technical names often include internal reference codes, timestamps, or system identifiers that mean nothing to end users but cannot be modified at the source.

Challenge 2: Lookalikes

When downloading documents from various portals or receiving email attachments, teams often end up with similarly named files, making it difficult to quickly identify the right document. As financial organizations work with multiple partners, vendors, and clients, the variety of incoming naming conventions creates a patchwork of inconsistently named documents.

Challenge 3: Manual renaming pitfalls

While teams could manually rename files manually, this created additional work and risked inconsistency across the organization. Without a standardized approach, finding documents became harder as different team members apply their own naming conventions. This leads to repetitive work, errors, versioning errors, etc.

A streamlined solution: automated renaming

To address these challenges, we've introduced document renaming capabilities directly in our platform's document inbox. This feature supports our clients in efficiently handling incoming documents.

Users can now apply naming templates like '[CATEGORY]-[INVESTOR]-YYYYMMDD-[ACCOUNT_CODE]', which automatically transforms technical filenames into clear, consistent names like 'Notice-MINVEST-20250125_AF6654.pdf' or 'FS-MICAP-20250125_AF7443.pdf'.

These naming templates can incorporate:

  • Document categories (statements, notices, tax forms, notices)
  • Client or investor identifiers
  • Date formats that follow organizational standards
  • Account numbers or reference codes

Templates will be applied to any document that enters the inbox. Irrelevant documents are skipped so that only documents that require attention are filtered out.

Conclusion

Our clients that have implemented structured document renaming processes typically see measurable improvements in several key metrics:

  • Reduced time spent searching for documents (often by 30-50%)
  • Decreased processing errors related to document misidentification
  • Improved compliance with document retention policies
  • Higher team satisfaction with document management processes
  • Faster onboarding for new team members working with documents

While document naming may never be the most exciting aspect of financial operations, getting it right delivers tangible benefits across organizations. By implementing automated, template-based renaming directly within document processing workflows, financial teams can eliminate a significant source of friction and focus their attention on higher-value activities.

Ready to bring order to your document chaos? Contact us to learn more about implementing intelligent document renaming in your organization.

Mesoica’s data quality platform is specifically designed to help LPs and GPs manage their data efficiently. By using our platform, you can seamlessly collect, validate, and monitor data, enhancing communication and collaboration. Our scalable solution adapts to your organization's growing data needs, providing peace of mind and enabling you to become a truly data-driven organization. Start your journey today by visiting our website or contacting us to learn more about how Mesoica can empower your firm to continuously improve data quality.