Verity Group

Managed Services Help Financial Firms Stay Current Through COVID Changes

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It isn’t news that industries are seeing a network of changes to their business processes precipitated by the ongoing COVID-19 pandemic. Two-thirds of businesses that claim success after startup have had to rethink their original strategies to deal with unexpected market conditions.

However, it is surprising that financial services firms have made an enormous — and possibly permanent — change in the way they do business by allowing employees to work from home on a regular basis.

The financial sector traditionally lagged in remote work opportunities with about 29% of companies allowing 60% of their workforce to work remotely at least one day each workweek. Now, those numbers have climbed to 69% of companies leveraging the power of a remote staff to keep business on target.

That, along with more effective budgeting and planning can help improve business outcomes for organizations in the financial sector as well as for their employees, customers, and investors.

The trick is to leverage new ways to streamline processes while keeping budgets lean, a task that is easily simplified by taking advantage of managed services targeted toward the financial sector.

How to Make Managed Services Work for Your Financial Firm

Like any investment, managed services should be examined closely for the benefits — even beyond cost control — that they can bring your organization.

When correctly deployed, managed services can optimize your company’s existing resources to refine agility and underscore business objectives such as improved customer service, higher levels of productivity, decreased margins of error, and better data protection.

Here are a few important ways managed services can make a significant difference in the success of your company:

Lowered Expenses for Infrastructure

Reducing capital expenditures as well as streamlining your liabilities on your financial statement is crucial for moving through a post-COVID economy.

Managed services such as print management and print-as-a-service (PaaS) can help firms optimize their printer fleet and consolidate billing to one simple monthly statement for increased transparency and easier budget planning.

Through these services, you have access to state-of-the-art equipment with a small — or no — initial investment to reduce money tied up in resources and remove the additional charges typically occurred when keeping technology updated.

Access to Economies of Scale

In addition, a managed environment is easily scalable, reliable, and flexible — features that allow companies to quickly adjust to market changes and changes in the workplace, like moving from on-site to remote staff.

Increased Productivity

Productivity is a hallmark of success. The more productive your staff can be, the more efficiently and effectively you can do business.

While print management streamlines your print fleet and imaging workflows, document management strikes at the heart of productivity slowdowns — your business processes that center around information flow.

A robust document management system (DMS) can help employees collaborate, communicate, and exchange data and information safely, securely, and quickly. No more endless searching through cumbersome paper files, disastrous errors due to manual entry mistakes, or lost or stolen data.

Using document management can reduce reliance on paper and digitize, store, and process data according to a variety of factors that are entirely customizable to the way your company does business.

Enhanced Data Security

Both print and document management allow firms to control who has access to information and double down on compliance standards to ensure state and federal data privacy regulations are being strictly followed.

Not only do these features provide peace of mind, they reduce the incidence of successful cyberattacks, lower the risk of corporate sabotage, and ensure data is protected with up-to-date patches and security features.

Get the Right Managed Services for Your Financial Firm from Verity Group

Fortunately, you have choices when it comes to managed services programs.

At Verity Group, our IT professionals have worked closely with industry leading infrastructure, software, and equipment providers to bring you managed services that directly address the challenges faced by the financial sector.

Our experts will provide an in-depth assessment of your current infrastructure and business objectives to develop a custom-tailored managed service solution for your firm. This can include managed IT, managed print, document management, or a mix of services — whatever it takes to help you lower risk, boost productivity, and keep your business thriving.

Importantly, these services provide everything you need for success, including equipment, supplies, maintenance, and service at one low monthly invoice. This reduces hassles with multiple vendors and makes budgeting and planning for the future simple.

Discover the easy way to thrive in a post-COVID environment. Contact Verity Group today and learn how managed services can improve your business processes.

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