Organizations are looking for digital transformation and MPS providers can play a proactive role as they can provide a strategic roadmap for organizations.
Fremont, CA: Digital transformation is a massive part of Industry 4.0. According to a report by Quocirca’s Digital Maturity Index, organizations lagging in the digitization are behind their competitors in profitability, customer loyalty, and employee engagement. A digital transformation focused on improving process efficiency is a challenge. Managed print service (MPS) providers can become an organization's strategic partner to drive digitization. MPS service providers have evolved beyond the conventional roots of print into solutions that automate and optimize workflows.
MPS takes digital transformation a step further with the use of scanning and capture technologies, increasing operational efficiency, decreasing storage costs, and facilitating rapid access to timely and accurate information. The right approach to digital transformation should be from digitizing paper to the optimization of information management through business process automation. This approach requires leveraging automation technologies and platforms. Automating information-intensive processes benefits an organization by improving collaboration and enhanced customer experience.
Despite recognizing the significance of digitization, 60 percent of organizations depend on paper-based processes, with the most cited reason being the need for physical signatures, as per the Quocirca Digital Maturity Index report. The use of paper is not only inefficient and costly; it also makes an organization open to security vulnerabilities and compliance issues. The majority of companies believe that enhancing business process efficiency is a critical element in driving digitization. However, only two-third of these companies has digitized business processes such as records management, claims processing, and accounts payable/receivable.
Organizations willing to succeed in digital transformation combine a clear digital transformation strategy with investment in workflow automation tools. A clear sign of digital maturity is to choose workflow solutions that facilitate information sharing, collaboration, and efficiency. Managed print services reduce the cost, complexity, and risk associated with an unmanaged print infrastructure. MPS providers have widened their capabilities to integrate broader information management and business and workflow automation offerings. Through this, the providers have a unique advantage of being able to provide a strategic, holistic assessment of the complete information lifecycle. A digitally transformed organization can drastically boost their business value, profitability, and efficiency. An organization must choose MPS providers based on the support they provide on digital transformation and continuous innovation.