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Banking on Savings and Security
Ask any bank branch manager to define “banker’s hours” in 2017, and you’ll most likely hear a description of branches which stay open until 6 p.m., are open on weekends and have a 24/7 component for ATM/online banking. What a world of difference between today and several decades ago when “bankers’ hours” defined a cushy job, where the branch rarely stayed open past 3 p.m.
Just as the ways in which banks do business has changed (from the old-fashioned passbooks to today’s online services), so too has the technology by which banks generate documents, as well as protect and store information. The old practices of throwing out paper documents with vital financial information have given way to intricate shredding systems which assure everyone from banking officials to customers that vital information remains secure.
And, as banks evolve more and more toward “paperless,” there are other changes in the industry as well. Increasingly, directors and trustees are scrutinizing bottom lines for banking operations, while also looking over their shoulders to make certain that information is protected securely. One data breach becomes a public relations nightmare.
Faced with the challenges of protecting information and lowering costs to produce paper documents, banks increasingly may seek to adopt the MPS (Managed Print Services) means of generating their paper documents.
Banks and financial institutions spend up to 3 percent of annual revenue on document output, underscoring the need to track equipment usage, reduce costs and increase efficiencies. This has given rise to a major shift in how organizations generate documents and communicate internally and externally.
Within that 3 percent, MPS can reduce the institution’s costs by 15-20 percent. So if an institution spends $200,000 annually to generate paper documents, the right program will save a bank up to $40,000.
It looks at the per-page cost as the bottom line, in contrast to the final price point of office equipment – and all costs associated with leasing/owning and using printing and imaging equipment, including maintenance and ongoing support – an element that is of particular significance for lending institutions with multiple branches. Print management software tracks the number of prints each piece of equipment uses and produces reports, that help manage for increased efficiencies.
While there is an abundance of fairly inexpensive desktop printers, copiers and multifunctional devices at virtually every “big box” store, when the cost of replacing cartridges is added to the mix, the $129 printer can end up costing 7 cents or more per page. And with many lending institutions now using color when copying, it becomes even more critical to have current technology that allows the control and management of usage.
It begins with an initial in-depth analysis of an institution that evaluates the existing printer fleet, current costs, operational bottlenecks and IT department time spend. Then it’s an evaluation of at all phases of document generation, from the cost of the equipment and supplies through necessary service support. And it helps institutions take an objective look at the amount of internal IT resources it is using to support its users printing equipment.
The right configuration could remove a lot of printing and document generating devices, and streamlining the flow of communication.
Many institutions have multiple and different types of printers, toner, copiers and scanning units. Operating them independently can be very costly. With a plan in place for fewer machines, but which are used efficiently, there can be other saving initiatives. Simple strategies such as going from a single sheet of paper to duplexing can not only save costs but contribute to a greener culture.
And, security is critical! With increasing concerns about data breaches, information must be secure and compliant. Many of the copying and printing devices have hard drives and can store information, which in turn must be overwritten or deleted before the machine is returned to the leasing company in favor of a newer piece of equipment. It’s critical to have a plan in place to be certain that information stored on a printer or copier hard drive is secure, through being over-written or in some cases through having the hard drives shredded.
An increasingly important component of an MPS system is an in-place tracking software program that enables the provider to monitor clients’ systems remotely, alerting them to potential misfeeds or low toner, thereby averting work stoppage.
MPS is an effective mechanism to reduce waste, recycle paper, ink and other resources. It is a “green” document solutions approach that is not only cost effective, but can also lower the carbon footprint of a healthcare facility.
And in the banking industry in particular, where sensitivity and protection of equipment is essential, it makes sense to have the most efficient and secure means of generating documents – as well, of course, as a secure system.■

Ray Belanger is president and CEO of Bay Copy, based in Rockland, Massachusetts.

Posted on Friday, December 01, 2017 (Archive on Thursday, March 01, 2018)
Posted by Scott  Contributed by Scott
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