What Are Managed HP Services?

How managed print services can support the digital transformation in the financial services industry

It is no news to anyone that digital transformation is a big topic and extends to companies of all sizes in all industries. Nevertheless, as with many buzzwords in companies, it is not always clear what digital transformation means.

Perhaps the best way to look at this is as a process in which business activities and business models are redefined by taking advantage of digital technology and putting it at the heart of the Managed HP Services.

This could mean using business intelligence software and services to identify opportunities and anticipate development, or use applications, the web, and social media to connect directly with customers. This could mean harnessing the power of digital technology to transform the collective work of groups or create new services that disrupt old markets. In fact, it could mean all of the above.

Converting to a career

However, digital transformation can also mean the transfer of work tools, taking previous paper-based processes into the digital world, bringing them directly to drive efficiency and empowerment. companies to use the information effectively. This often involves converting paper forms into digital formats that automatically transfer data to end-to-end storage, or scan and store paper-based documents within document management systems, making them easily accessible. . search, share and calculate.

Systems that make it difficult to access customer information or produce good and effective information can be converted into effective digital methods instead of discontinued. According to a recent IDC survey funded by HP Inc 65% of knowledge workers said they were adopting digital workflow, automation and collaboration

improvements, methods and validation, time protected, increased productivity and fewer errors. 59% of knowledge workers working in law, security or compliance said time was needed to ensure compliance and minimize risk.

The challenge of paper

Why, then, do those who work in the industrialized system as financial services sometimes feel that digital transformation is an uninvited party?

Reliance on paper-based hereditary systems makes radical thinking challenging as it can be rewarding. There are specific rules about what documents need to be stored and to what extent, with important information often filtered, making it difficult to access any type of broad customer perspective and needs. Financial services companies can improve data, but the flow of paper-based work is slowing down. He is not ready for a world without a hard copy; even where the rules allow for full digital processes and workflows, financial services companies will have some customers who just prefer to do everything as before. Taken together, it is not surprising that a recent QuoCirca survey found that while 30% of businesses as a whole saw publication as important for their business operations, that figure rose to 73% for financial services. This makes the transition to digital somewhat difficult.

It is difficult, but not impossible if you take advantage of Public Publishing Services (MPS). MPS providers such as HP understand that hard copy documents still need financial services, and that companies in the regulatory industry need ways and means that can support digital and paper-based systems at the same time.

They can get experts to review your processes and workflows and advise you on how to digitize what can be digitized and support what will remain paper, with knowledgeable legal and regulatory advice. MPS resellers can help you integrate digital printing and documentation into a system that meets all the requirements to make electronic copies unique, highlighted and refined, with the right records of how information is copied, stored and transcribed.

MPS resellers also have the technology and document management capabilities to put together specialized solutions, introduce multifunction printers that scan and direct documents to specific repositories or applications, where they become readable, divisible and much, much easier to manage. . Although integrated with document management, business intelligence and CRM systems, it enables recognized employees to have quick access to customer information when they need it, but in a way that enables high security and consistency. Digital flow approval means you no longer need to print to get approval below the line.

MPS makes a job change

This approach can provide many benefits to financial services, making important information accessible and secure. When all customer information is easy to find and view, it is easy to calculate compliance and detect potential fraud. The flow of digital services also contradicts the copy of the unwanted document, which means that customers are not asked to reproduce the information already provided and providers do not keep records or documents for longer than required by said Amendment. It also reduces paper waste and document storage costs, while meaning fewer forms have to be replenished because the customer's manuscript is unclear or part is left incomplete.

Adding MPS can bring many other benefits as well. Make sure wireless printing on smartphones and tablets makes it easy to integrate mobile devices into the workflow, so teams can work with whatever device they control. Drag-and-drop logos ensure that print jobs are published only when verified by the publisher. With that in place, there is no reason why confidential documents should eventually run out of a trash can, where anyone who passes can pick them up. MPS also makes the post more relevant. For example, the print icons that come with me allow users to start printing jobs on their computer or laptop and then download them, when verified, from other publications on the web. Documents required for the client meeting can be pulled from the printer closest to the meeting room.

Through a combination of cost savings, security, efficient benefits, and the flow of new jobs, MPS can be a powerful force for the digital transformation of financial services, helping companies move into a new era. ensuring compliance.