Standardize and Centralize Document Management
Financial services providers are perhaps the ones most in need of protecting confidential data. But in order to secure both their processes and infrastructure, they face high costs and challenging circumstances. Ones that potentially threaten their customer service and consequently, their reputation.
Document management is a vital component within the financial services segment. And any of the following scenarios may occur a role in these environments.
- No centralized control and no insight into company wide printing
- Print servers are costly and difficult to maintain
- Print driver management is time consuming and prone to error
- Troubleshooting printing problems is complex
- Helpdesk is reactive versus proactive in preventing issues
- High risk of data loss and/or breaches
- Software is out of date and malfunctions
Many financial institutions already rely on LRS solutions for their mainframe application systems. These systems are made more accessible and cost efficient when combined with LRS solutions for legacy applications. But there is more that we can do for those organizations which have security as a top priority, while also wanting to optimize control AND provide service levels that meet the highest possible standards.
How LRS Solutions Benefit Financial Services Providers
Different solutions for different output increase the complexity within an organization. And it also compromises visibility. Some even go as far as to have two print management solutions, one for standard office applications and one for critical business applications, such as SAP. Then there is software for scanning, for archiving etc. LRS can provide one middle layer that manages all document output and digital storage. Standardizing on one single solution optimizes visibility and reliability throughout the organization.
LRS minimizes the risk of identity theft, customer loss, reputational damage and reduces the possibility of consequential compensation claims.
Monitoring and control are key security requirements. Traceability a must when confidential data is involved. If data is not monitored, there is no security. LRS tracking software 'follows' documents and generates reports which indicate who printed a confidential document. LRS software also allows administrators to limit or restrict printing certain documents. These benefits are not limited to traditional office printing, but are also capturing the same data for mainframe, critical business applications and/or other systems.
LRS software generates over 260 attributes during document capture, delivery and other processes pertaining to document management.
LRS can help finance institutions implement a centralized output environment. We have a range of solutions available. All of those solutions work seamlessly together. Fill in our form to learn how LRS can be a strategic partner for financial services providers that want to centralize their IT infrastructure for output management.