Review the Vertical MPS Opportunities & the Security Privacy Requirements30 Apr, 2012 By: David Anastasi, eDocument Sciences
According to compiled Gartner’s Managed Print Services (MPS) research, this market’s size is expected to exceed $10 billion worldwide by 2013, from the present $7 billion. One of the most interesting opportunities often overlooked is that of the Government vertical. Today, Federal, State and Local Governments as well as Public K-12 and Higher Educational Institutions, are struggling to make budgeted dollars meet. With significantly reduced tax revenues they, like private businesses, are combing through every possible opportunity to reduce costs, balance budgets and still provide necessary services to their constituents. Ironically, at the same time they are on the front end of data security initiatives and requirements aimed at securing data and meeting privacy requirements. They are truly faced with a “double edged sword.”
These challenges present a unique opportunity for organizations providing MPS to also combine their MPS offering with an understanding, resources, tools and technology related to data and document security. These combination's not only provide for larger and clearer ROI’s but also an opportunity for your organization to benefit from increased revenue and a competitive offering creating barriers to entry from a single dimensional provider.
Two Things to Consider
First, do I have the appropriate controls (People, Process, and Technology) in place to protect my MPS environments? Second, do I have a plan to maximize these two ever growing opportunities in the private sector, government, and education?
You need to be proactive when it comes to security and governance! Regulators and auditors are beginning to focus on document security and compliance in the office environment. Being unprepared brings added risk, however this changing environment also brings significant opportunity for those who are well prepared.
According to Security Park, “The worldwide security compliance and control market is forecasted to grow to $15 billion in 2010.”
Security Park also states, “Worldwide security hardware revenue is expected to increase to $13.6 billion in 2010.” There are numerous articles published on the benefits and opportunities of implementing a MPS program and deploying technology that increases productivity and reduces risk. These same benefits and opportunities not only apply to the private sector but to all levels of government and education as well.
One survey revealed that “60% of Americans were not aware that the devices they used at work or in public places might store images of their documents on internal hard drives. And that a GSA employee accidentally sent 12,000 names and SS numbers to private email address. As Government regulation continues to roll out, government agencies will be called on to “model the way” and live by the standards that legislators pass. A good example of this is the State of New Jersey that is considering legislation regarding the protection of information stored on copy machines and multi-function devices.
Due to significant challenges in today’s business environment, shrinking budgets, and efforts to improve operational efficiency within businesses, many organizations desire to take managing their documents, the processes that surround them, and the internal and external governance controls to a higher level.
Both the private and public sectors are looking to eliminate waste or unnecessary processes to improve the speed and efficiency of their organizations. They are focusing on:
• Reducing debt and operating expenses year over year;
• Exceeding objectives on cost controls, improving bottom lines, and closing budget gaps;
• Improving document/data security and constituents privacy;
• Establishing or improving governance of networked devices (wired and wireless) and software tools;
• Providing key metrics, measurements, and intelligent reporting, for all critical profit and security areas
Providing “Value Added Services” both in MPS and document and data security, changes your relationship with your business, government or educational customer from operational to strategic. The positive effects of this approach forms a solid and sustainable relationship that can result in you becoming the long-term trusted advisor in meeting or exceeding your customers, constituents, and advisors requirements and expectations.
At the same time MPS is growing as an opportunity; Data Security, Privacy, and Governance has moved up into the top priorities of Government Legislators, Regulators, Agency Managers, Auditors, Legal Advisors, Insurance Providers, Board Members, C-Level Executives, and Education Administrators due to the huge increase in external and internal data threats and the risk of significant financial and brand damage.
Take Action Now
The markets are growing and regulations are currently being put in place with even more to come in the future. Regardless of when they are enacted or what you, as an MPS provider or solutions specialist will be expected to do, addressing the issues and creating a strategy that helps add and retain customers, while continuously generating new business opportunities, is the smart thing to do. Helping your customers, business, government or educational institutions take appropriate actions now can benefit you and the individuals whose private information may be at risk.
Author: David Anastasi is CEO of eDocument Sciences & past President & CEO of Captaris, Inc. acquired by OpenText. eDocument Sciences partners with public, private & government organizations securing their most important asset, mission-critical data, delivering highly secure environments, increasing productivity, scalability & ultimately value. At email@example.com and at the company website of http://www.edocumentsciences.com.