Chief technology officers (CTOs) are exceptionally vulnerable to aging IT infrastructure, especially when coupled with the elusive goal of reduced spending. In fact, nearly four in 10 chief information officers and CTOs said they grappled with burnout or worried as they upheld the technology backbones that supported their organizations, while 17% said they worried about a lack of resources and support.
Leaders in financial services are particularly susceptible to these struggles as financial factors — such as inflation, ever-changing regulations and customer dissatisfaction (overall customer satisfaction with the advice and guidance provided by national and regional banks was 30 points lower in 2022 than it was a year earlier) — continue to pile up.
Not much can be done about inflation or government regulation, but banks that proactively maintain and update existing print infrastructures, while ensuring not to bring forward greater security risks, will be freed up to focus on higher-level technological strategies that, in turn, might increase consumer content.
“As financial institutions focus on technological strategies for future growth, having FedEx Office as a trusted ally and expert consultant on print is one less thing to worry about in the highly regulated banking world,” said Donna Kuppers, regional commercial sales manager with FedEx. “From everyday printing with local delivery and multilocation, brand-complaint signage installation to complex national print solutions, FedEx Office can do it all with reliability and security.”
The following are three specific ways managed print services act as an operational ally for CTOs of banking institutions.
Providing near-site print solutions as alternative to existing equipment
As financial institutions began to realize their existing equipment posed a challenge post-pandemic — whether because it was now obsolete, aging, expensive or unnecessary — managed print services helped solve for that in several ways. Some of those include fleet rationalization, including near site print solutions instead of replacing old print equipment by instead relying on a national print provider with an existing infrastructure of secure networked devices with online ordering and local delivery, as well as providing a relationship with an actual store manager to help solve problems while not incurring the expense and real estate of having a print shop on-site.
“In an ever-increasing mobile world with hybrid or remote work environments, combined with a decreased need for commercial office space, printing requirements have dramatically changed,” Kuppers said. “Financial institutions no longer need to invest in on-site print shops with expensive hardware, long-term employees and real estate costs or large fleets of copiers and multifunction devices with long-term leases and expensive supplies.”
FedEx Office offers convenient, secure, online access to a wide variety of print solutions, as well as more than 2,000 locations with the latest investments in print equipment and technology, with local expertise and personalized service tailored to individual business needs.
Keeping up with privacy concerns
Financial institutions must keep a close eye on changing privacy laws. Luckily, the right managed print service will accommodate for things such as the SOC-2 handling of sensitive/private data. “FedEx Office understands the critical need to protect sensitive data, which may include trade secrets, personal information, intellectual property or classified information,” Kuppers said. “As a result, FedEx Office is in the process of acquiring SOC-2 certification, which confirms the effectiveness of the controls in place related to operations, financial data and information, based on the trust services criteria, including security, confidentiality, processing integrity and privacy.”
What’s more, all FedEx Office team members are trained every year on the critical requirements around protection of customers’ privacy and confidentiality, including personal information.
Offering convenience, combined with expert knowledge
A relationship with an experienced and knowledgeable managed near site print service provider not only is convenient but also provides the peace of mind that only comes from working with a team with years of experience. With FedEx Office, that includes:
- An on-site trusted advisor relationship with a FedEx Office account manager to provide personalized consultation, solutions for print challenges, complex project support and everyday service.
- Quick turnaround time, convenient and secure online ordering and local FedEx delivery.
- More than 2,000 stores nationwide, meaning a FedEx Office location is likely within a couple of miles of many offices.
“Having a Corporate Account Program with FedEx Office not only provides access to conveniently located FedEx Office locations that have already invested in the technology, equipment and expert team members ready to consult and support projects from quick turnarounds within 24 hours to complex projects, but it also provides financial institutions the benefit of an account manager to help them achieve their institutional business goals and strategic objectives of customers that go way beyond printing and shipping,” Kuppers said.
No one can predict the future. In the present, though, banking executives who put managed print resources/near-site solutions to work will be putting their print needs — including the smart use of their current equipment — into the hands of experts, while freeing themselves up for other long-term goals. Discover how to streamline your print management and leverage your resources with FedEx Office's near-site solutions. Request a consultation today.