Does Managed Print Fit the Financial Industry?

Submitted by Tech Support on Mon, 07/25/2022 - 09:53
financial worker computing numbers

The financial services industry has a key role to play in the lives of both business-to-business (B2B) and business-to-consumer (B2C) customers. That means any financial organization has a lot of paper and even more data. But is managed print the right fit for this high-demand industry? Let's find out!

What Makes Managed Print Different?

Financial companies have a lot of options when it comes to print solutions--but the closer you look, the more you'll start to realize that some of those solutions don't actually keep their promises. That can be bad news for any business, but it's especially significant in the financial industry, where end-customers count on their data being secure, accessible, and well-organized every minute of every day.

So what makes managed print services different? Why does this solution stand out from the others?

Simple: It's custom-made for the financial industry.

Sound too good to be true? Well, the reality is that managed print is actually custom-made for every individual business. Here's how it works:

  • #1: You choose a provider who fits your communication style and work preferences.
  • #2: Your provider performs a print audit, helping them understand your financial company's needs and challenges, all while paying special attention to unique regulations in the financial industry (like the Gramm-Leach-Bliley Act, or GLBA).
  • #3: You and your provider go over the results together, identifying inefficiencies, security vulnerabilities, compliance issues, and more.
  • #4: Your provider recommends solutions based on what works best for your unique print environment, workflow, and even the needs of your financial customers.
  • #5: You get the final say on every change, solution, and tool.

The result is a managed print relationship built from the ground up to fit your needs--one that is informed by you, your business, and your industry every step of the way.

Managed Print for Financial Companies

Now that you know how managed print adapts to financial companies like yours, let's take a look at just a few things that make it happen:

Fewer compliance issues

Compliance is an important element of many industries, but it's especially crucial for financial organizations. You're responsible for sensitive information that, if used improperly or allowed to fall into the wrong hands, could seriously damage a customer's plans, career, and entire life--not to mention the potential fallout of failing to comply with regulations like GLBA.

The good news is that managed print services doesn't offer a "one size fits all" solution when it comes to compliance. Instead, your provider brushes up on all the unique elements of your specific compliance landscape. They'll help you see those regulations as a guide to serving customers in better, safer ways, all while helping protect you from those three scary words: "failure to comply."

Security without inefficiencies

There's more to financial services security than just compliance. Unfortunately, those security solutions often give your teams a lot of hoops to jump through, impacting their ability to effectively serve customers. With managed print, it's possible to look at your print environment and create security procedures that fit your natural work rhythms--which means no more interruptions, no more inefficiency, and no more hoops to jump through.

Stronger workflows

When juggling financial services for all kinds of different customers across all kinds of different channels, your teams rely on strong workflows. Extra steps or confusing processes can make those workflows less reliable, leaving employees to find their own workarounds (which can impact compliance) or just struggle through (which can impact service quality).

Instead, managed print services helps you take a close look at your workflows to identify what's working and what isn't. Your provider will pull out all the stops to offer solutions, from reorganizing your fleet and upgrading devices to cutting out workflow steps and integrating new tech tools.

Better budgets

A financial company should be able to handle its own budget if it's going to advise customers about theirs--which means it's that much more important to take control of your print costs. Luckily, managed print can help you do just that, identifying where and why you're wasting money then recommending specific workarounds to protect your budget. As a result, you'll have more money to spend where it matters--and a better reputation among customers who expect financial expertise, too.

In conclusion, managed print is a good fit for financial services companies because it's built around your unique needs, challenges, and even compliance regulations. It's a relationship completely informed by you--one that can make printing better than ever.

Ready to see what managed print services can do for your financial company? Contact us today to get started!

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