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New Techonologies, MPS, Benefit Banking Industry

9 Jan, 2012 imageSource


The numbers are telling. According to a recent business study, document generation costs account for between 1% and 3% of a company’s bottom line…and, for the banking industry, that rate is often higher given inherent paper usage and inter-branch communication.

Dealers need to realize that increasingly, those in the banking industry are recognizing the need to streamline document generation processes and, as such, are working with solution specialists to consolidate functions, reduce the amount of paper generated, and lessen their “carbon footprint.”

As an example, South Shore Savings Bank, which maintains 14 branch locations throughout the South Shore of Massachusetts, has long been an institution with an eye toward improving efficiencies.

When reviewing their methods, and cost of printing and copy needs, Pamela O’Leary, the Bank’s Senior Vice President and Chief information Officer, realized there must be a better solution to achieve document generation objectives.

MPS for SSSB

South Shore Savings Bank chose to partner with Bay Copy in Rockland, Massachusetts, a premier provider of digital document solutions, to create a Managed Print Services program – one that effectively has resulted in higher efficiency, cost reduction, tighter security, and enhanced customer service.

Bay Copy assisted in the coordination of the various facets of managed document services – including printers, IT services, and consolidated contracts for printers, copiers, and facsimile machines – ultimately, providing a Managed Print Services solution for the Bank that reduced the number of office equipment from 140 to 47 units.

Managed Print Services, a growing trend in the document solutions industry, looks at per-page cost as the “bottom line” in contrast to the final price point of office equipment.

Its fundamental premise is consideration of all costs associated with leasing/owning and using printing and imaging equipment, including maintenance and ongoing support. This is particularly important for banks with multiple locations, where the number of owned or leased printers and copiers is often an unknown factor, not to mention the cost of printing.

South Shore Savings Bank has not only experienced lower operating costs as a result of the Managed Print Services program, but has also seen a significant reduction in the amount of paper usage – an environmentally friendly “green” bonus.

In addition, with Bay Copy’s Managed Print Services program in place, the Bank has made a complete shift to duplex printing.

“Even though our volumes are increasing through business line, product, and overall Bank growth, paper print levels are not increasing at the same rate,” noted O’Leary.

Consolidation

By consolidating office equipment, South Shore Savings Bank has streamlined internal support needs; a significant decrease in the use of toner, cartridges and other support supplies has translated into noteworthy savings over the course of the 10 months the Print Managed Services program has been in place at the Bank.

The Bank’s branches can now remote print directly to its Operations Center, rather than sending a fax or having to send by inter-office mail, further freeing up resources.

“In addition to cost reductions, this program has helped the Bank to provide the highest caliber service to our customers,” said O’Leary. “Our equipment must maintain a strong level of security, ensuring that customer information remains protected
and confidential.

This aspect of our due diligence was vital when looking for a provider and in Bay Copy we have found a partner that meets our
high standards.”

Security

Indeed, security is critical to the banking, healthcare, and all regulated industries, particularly in view of the recent Massachusetts data breach laws, which establish standards that must be met by businesses in connection with the safeguarding of personal information contained in both paper and electronic records.

The Bank’s Managed Print Services program provides the maximum level of security, according to O’Leary. “We needed to be certain that documents printed, faxed, scanned, etc. on machines are not traceable once that machine is no longer in our use. Our security firm and auditors tested the new equipment, which passed the safety tests with flying colors,” she said.

Ray Belanger, President/CEO of Bay Copy dealership added, “Managed Print Service programs like the one implemented at South Shore Savings Bank can result in major cost reductions while improving operating efficiencies. The key ingredients for successful implementation are an experienced but flexible technology partner and commitment from the clients’ Senior Management.”

Collaboration

The collaboration between Bay Copy and South Shore Savings Bank will continue as the Bank looks toward the implementation
of additional equipment functionality…and eventually full document imaging.

“Evolving technologies,” said O’Leary, “will hasten the potential for a ‘less paper dependent’ future. Print processes are constantly changing…and, when they do, SSSB wants to be on the forefront to evaluate and implement as appropriate.”

Bottom line for SSSB? According to O’Leary, “For innovation in Managed Print Services, Bay Copy is a great partner.”

These are the words that any credible dealer wants to hear from their best customers when providing outstanding service.

In essence, imageSource believes that sharing dealer success stories and case studies assists other dealers seeking to learn hands-on proven methods from their peers, helping to sharpen their own tools for providing better managed print services programs to their clients – like that of Bay Copy.




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