When a company starts growing, they need access to services and solutions that can scale with their operations quickly. First Phase Data recently had the chance to help a financial planner here in Canada that was outgrowing their previous technology selections and wanted to revamp their document management processes.

Financial planners have to manage large amounts of Personally Identifiable Information (PII) and comply with a host of regulations regarding document and data security. Workflows may differ depending on the type and size of the company, but the need for paper documents increases any firm’s bottom line when not managed correctly. Not addressing wasteful printing practices early and trying to scale operations will compound the problems and put the firm’s information security at greater risk. Here’s how we helped a customer overcome these challenges and regain control over their print environment.

The Customer

In this instance, the financial planner had four companies operating in the same office. Staff shared equipment, and the workflows evolved as the company grew to provide more services. As new staff members were on-boarded and more duties delegated, the processes and print costs became harder to track. Knowing that it would be a challenge to regain control, the customer approached First Phase Data for advice.

The Challenge

Runaway print costs can eat into a significant portion of a company’s revenues, especially with the number of financial records involved. Our customer needed to gain new efficiencies in workflows and improve the productivity of all four companies’ staff. Increasing information security and maintaining client confidentiality at every step in the process were also priorities.

The Environment

All four companies were using a large Ricoh copier for their document requirements. The equipment was on a monthly lease with a cost per copy for black and color prints. Internal billing was split evenly between the four companies without tracking specific prints from different users. In this environment, wasteful practices can add up, and establishing an effective information security framework for all documents would be a challenge.

The Review

First Phase Data started with a review of the client’s current environment, workflows, and operational processes, including their billing procedures. By conducting a holistic assessment of the challenges the customer’s staff faced in their daily routines, First Phase Data was able to make a recommendation on how to tackle the different challenges with the office’s document management workflows. Determining the exact print and copy volumes enabled us to understand where savings would be available.

The Analysis

After the assessment, First Phase Data started by recommending the right sized Multifunction Device (MFD) in the Xerox C405. Based on the print volumes, this versatile color MFD is suitable for medium-sized offices and takes up less space. Designed for heavy-duty use, the Xerox C405 is easy to operate and supports up to 35 pages per minute in color or black. With this new MFD, staff could print, copy, scan, and fax documents of up to A4 sizes.

Once First Phase Data had found the right equipment, we needed to help the customer regain control over all print and billing operations. To achieve this, First Phase Data implemented Xerox’s Job Accounting software that enabled the client to manage their billing effectively. They could now keep track of prints and bill the right department for every print sent to the device.

For improved information security, Xerox Secure Print allowed First Phase Data to assign a pin to each employee from every company. Whenever employees send a file to the device, it would remain in the queue until the appropriate staff member releases it, using their unique pin at the MFD.

The Result

Using these interventions, the financial planner’s companies now have internal accountability for all of their print operations. Billing is based on the actual usage of each company instead of splitting the bill, helping staff to be more responsible with their printing practices. The client no longer has any over or under billing as they can generate a report based on the different PINs used to release jobs.

Implementing the secure print solution also reduced the likelihood of staff leaving sensitive documents at the printer, reducing the risk of information breaches. In all, the interventions led to a reduction of printing costs, an increase in administrative efficiency, and improved document security.

Streamlining Print Operations with Document Management from First Phase Data

First Phase Data continues to serve our customers by providing them with the latest technologies and business solutions so they can succeed in any challenging environment. Whether the firm needs a modern, productive MFD or improved information security in their office, First Phase Data can assist with the right solution. Companies can opt for a completely managed print solution or streamline their workflows with a document management system.

If your organization needs to regain control over a runaway print environment and save costs with a document management solution, reach out to First Phase Data today.

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