Typical challenges financial institutions face in their printing environment
South African financial institutions are well known as ambassadors for the country. Their contributions in sport, art and education have made phenomenal strides in improving revenue and reputation, a mutual benefit for both the institutes and the country. The major financial institutes share similar challenges within the core industry.
- Growth and market share of the business and their portfolios;
- Creating or improving on their customer experience, ie, customer relationship;
- Conquering new revenue streams; and last, but not least
- Digital transformation of their legacy systems and moving towards a paperless environment.
Despite the future vision the above challenges offer, printing is still a major focus despite its challenges for the majority of the financial institutes. Even with the launch of the newer digital platform banks (as seen in the media: Tyme and Discovery Bank), many South Africans are very much loyal to the traditional financial houses. Ergo, printing is and will still be a requirement for many years to come.
So, what are the major problems financial institutions experience when it comes to printing?
- Uncontrolled costs.
- Consumable costs and spend.
- OEM vs remanufacturing benefits.
- Undefined strategy to reduce print volumes and costs.
- No clear strategy and data to implement solutions to drive down costs and print volumes.
- A lack of vendor management skill-set.
- Multiples vendors, no single point of contact.
- Lack of resources to manage the print environment.
- Uncertainty on how innovation and printing inter-connect.
- No alignment of printing to innovation and business processes, to simplify and increase efficiency and customer experience.
- Ignoring the power of the “printing” data analytics (Power BI) in business processes.
Underestimating the printing information (user and device) provides to assist in change of user behavior, as an example:
- No inclusion of change management.
- A change management non-inclusion can further delay implementation of policies and solutions. User behaviour and change are conflicting components that can erode the benefits and savings achieved, should change management not be included in the planning.
IT and finance stakeholders within financial institutes should consider the above challenges as a framework, when planning and strategising the solutions to eliminating the printing challenges experienced in their industry.
Green Office is a seasoned MPS consultancy provider, which understands these challenges, and can provide strategic solutions, to reduce and eventually eliminate these challenges, whilst saving the financial institutes millions.
How does Green Office differ?
1. We offer Pure Management (one single point of contact).
2. We alleviate the pain points and manage challenges on the customer's behalf.
3. We provide multiple solutions to challenges, with client in mind always.
4. We increase GP of the client’s bottom line.
How does Green Office succeed in achieving this?
1. Control of existing and new vendors.
2. Complete device management – networked and non-networked fleet.
3. Implementing bespoke tracking software.
1. Support all reputable brands, trademark “brand agnostic”. Ensuring the solution and brand are well-matched for the desired customer outcome.
1. Print reduction solutions through policies that are customised for the financial environment and addresses the security concerns.
2. Mapping processes (legacy and new) to avoid departments working in “silos”. Bridging the gap between old and new to create a streamlined integrated platform.
To find out more about how we can help you, please complete the Contact Us form to have one of our consultants contact you.