Modern businesses spend a considerable amount of time and resources creating, managing, changing, and delivering business-critical documents. According to IDC, companies spend up to 10 percent of their revenue managing the production and distribution of documents and associated devices. The advent of innovative and powerful document management solutions promises to reduce that margin significantly, while vastly improving the efficiency of procedures.
Document output management:
What and why?
Simply defined, document output management provides a business with a single point of management and control of all devices, jobs, and queues on the documentation front. Maximize economy by:
* Centralize control of the output environment directly with IT professionals
* Train end users to solve many problems by themselves
Organizations in the banking and financial services vertical are now realizing the far-reaching implications such solutions could have on their document-intensive businesses.
This industry’s ongoing need to generate, distribute, and archive statements, reports, and directives poses distinctive challenges. Traditional practices leave considerable room for apprehension about the security, accuracy, and verifiability of audit trails. However, offerings in the output management space like ISIS’s Papyrus Document System and AutoFORM’s LaserNet can effectively minimize many of these concerns while revolutionizing resource allocation, business agility, and information retrieval.
Output management solutions can provide unprecedented levels of integration by analyzing documents throughout their entire lifecycle. This approach dramatically increases the efficiency of the document process and makes it possible to seamlessly align business requirements with underlying document workflows and existing hardware and software.
Key Players in Document Output Management
ISIS: Paper Document System 6
ISIS’s Papyrus document system, independent of operating system and printer, provides an integrated software architecture capable of producing millions of documents per day. Customer service and operations departments in particular can gain significant benefits from end users being able to interactively edit personalized business documents. Although it is a cross-industry solution, Papyrus is being implemented effectively in the banking, finance and insurance segments. Its applications for consolidated bank, credit card and fund management can substantially reduce system management efforts in the long run.
The characteristics of the Papyrus document system:
Papyrus Objects – Designed to ease integration with legacy IT and enable the creation of reusable objects, this solution maps processes to existing applications and facilitates rapid process development and immediate distributed deployment. Papyrus Objects can store and deploy document and process templates across the enterprise without conversion, reprogramming, or even rebuilding, providing vital integration of legacy applications out of the box.
Papyrus Capture: Papyrus Capture uses the latest discoveries in the fields of pattern recognition and learning systems for solutions that efficiently extract valuable data from all corporate business documents without extensive programming in any data format and interface type.
Papyrus Designer – Papyrus powerful WYSIWYG design tool with library features provides quick and easy design changes. It provides dynamic table of contents, logo and graphics management, barcode/OMR code support, graphics and multiple languages. It provides flexible dynamic data handling functions that can read various forms of data, including xml, html data. This platform-independent tool has built-in support for most printers.
Tuning: AutoFORM LaserNet
A complete suite of output and document management solutions, AutoFORM LaserNet also integrates the documentation process into existing IT applications. Supports migration from paper- and labor-intensive systems to faster, more cost-effective, email-enabled document processing. AutoFORM LaserNet captures the output and transforms it into the relevant format before intelligently routing it for distribution via print, email, fax, and XML. The documents are then automatically archived along with scanned images of incoming forms, relevant PC files, emails and faxes, thus creating a freely accessible online repository of important records. LaserNet achieves all of this without complex and costly programming through a fully configurable ‘point and click’ graphical user interface.
By providing a single set of simple tools to control all output across all IT applications, AutoFORM LaserNet can dramatically reduce IT and document development costs while offering consistency in style and personalization of reader-specific content.
Document output management:
What can I do for you?
Document output management solutions such as Papyrus and LaserNet can provide BFSI companies with many generic and business-specific benefits. It will (among other things):
* Reduce help desk calls by letting end users solve their own problems
* Help the business track exactly how much it spends on production
* Wide range of printing support and automated delivery using other means.
* Offers significant cost benefits by automating the document creation workflow
* Make the entire document lifecycle an efficient and continuous process
* Improve customer service by simplifying access to business data
* Provide timely and concise data for the generation of documents.
* Open business data to e-commerce applications
* Create business processes integrated with documents
* Faster document creation using reusable document elements
Looking to the future
The core of a successful output management strategy is a scalable core product where output can be added, managed, and then distributed. Businesses looking to implement output management solutions should identify a provider with world-class technology, quality personnel, and proven experience handling document-intensive processes.
Those who have taken these initial precautions report considerable growth in ROI, business responsiveness, operational efficiencies, cost savings, and customer satisfaction. While the telecommunications industry has been the most eager to adopt document production solutions thus far, its potential to revolutionize a critical dimension of BFSI’s business is rapidly gaining its due awareness.