Xerox had announced the expansion of its services portfolio in India and launched its DTPS services. Document Transaction Processing Services (DTPS) is basically designed to deliver higher efficiency and reduce printing costs. The process involves streamlining, digitizing and automation of document-driven business processes.
Xerox has pushed three main strategies with the launch of the new services in India. ‘Access and optimize’, which will help businesses, both small and big, to understand the entire scope of the printing environment. ‘Secure and Integrate’, a solution where the existing IT environment and network will be used with minimal disruption to optimize and implement secure printing. Lastly, ‘Automate and Simplify’ which will help customers migrate to higher levels of printing and document management escalating the process of converting paper-based workflows into digital processes.
The main motive of DTPS is to automate back-office functions. This includes management of incoming documents and digitizing them, indexing and routing the information to electronic document management and storage services. This can further help with reducing transaction costs and increase accuracy and efficiency of all financial processes and also help simplify the communication processes.
DTPS is aimed to help businesses increase productivity and reduce the effect on the environment by taking the green initiative seriously. DTPS is aimed for an eco-friendly road towards the future of business operations by reducing costs by up to 30 per cent, or more. DTPS helps businesses print less, resulting to reduced account management and servicing costs. The service can hugely benefit businesses such as manufacturing, telecom and banking sectors.
At the launch in India, Sushant Dwivedy, Director of Global Document Outsourcing at Xerox India, spoke about DTPS and its implementations, as well as the benefits to existing customers and businesses in India. He also stresses on the benefits of the new service on both the business and the environment.
Q: What is the current size of the managed print market and what are your predictions for its future growth?
Sushant Dwivedy: Managed Print Services market in India is projected to grow at a rate of 30%, making it one of the fastest growing MPS market globally, and a significant growth opportunity for Xerox. In comparison, Asia-Pacific region is growing @17-20% and the global average growth rate is 10-12% (source: E&Y MPS study).
If you look at enterprises today, each year improper document management costs organizations millions of dollars in liability, reduced efficiency and lost productivity. These costs only increase in future with expansion in business operations, and ever increasing regulatory and compliance related requirements. Maintaining proper document management infrastructure/program to ensure data privacy and security, regulatory, compliance, control and access to information and cost control associated with information processing is only getting more critical by the day.
The incumbent need is to outsource these services to a service provider that specializes in the domain and is capable of providing the desired turn-around times and Service Levels backed by tangible and measurable Key Performance Indicators, continuous monitoring and proactive support for the print environment. This trend has already begun and in future we see more and more enterprises and corporates outsourcing their document management needs to leading global players like us for whom it is a core business.
Q: What are the latest managed print market developments?
SD: There are umpteen number of service providers (including OEMs, System Integrators, Channel partners etc.) in the market who offer managed print services, each having their own definition of what managed print services means. This is where Xerox is heads and shoulders above any other provider globally with its vision of Next Generation MPS, its offerings and its ability to execute which has earned it the leadership position in MPS globally, endorsed by several independent analysts consistently over past few years. The leadership position is not only limited to what analysts say, it is in-fact reflected in the market share that Xerox commands today.
Xerox Next Generation MPS offerings extend far beyond managing a fleet of output devices, providing an OPEX business model and driving down TCO for organizations, it penetrates into areas which directly has impact on core businesses and sustainability objectives of organizations. Xerox helps organizations through an entire journey, right from printing for less to printing less altogether targeting slow, inefficient paper based process and moving them to a digital platform enables organizations to be more productive and more responsive to their customer’s needs while reducing print needs.
The market today is relatively buoyant with 51% of the organizations (either already using or planning to use MPS) indicating that more organizations will adopt the OPEX based Managed Print Services over the next few years. Besides reaping the benefits of lower TCO, enhanced productivity, mobile/cloud printing, user-based accounting and security features, effective print governance via SLA assurance and single point of accountability, the organizations will also embark on a journey of digitization. Each organization could have a different start point on this journey, eventually they will transform to more productive, sustainable and cost effective processes without compromising on security.
For the next few years, some of the emerging trends will be increasing integration of work-processes and workflow in organizations. Xerox managed print services offers a comprehensive assessment of a company’s current fleet of multi-vendor copiers, printers and other hardware and then creates a print environment that best meets the needs of the workplace. Xerox has also come up with couple of innovative services which makes adoption of MPS easy for organizations, unlike any other player -- who would ask prospect organization to completely remove their existing assets (with economic value still left) and get all new equipment in, whereby making their internal business case difficult – Xerox offers multi-vendor fleet management service, where it takes on the existing usable assets of the organization and sweats them out before migrating to new assets, this helps organizations reduce their TCO and make most of their investments. Further value is added when Xerox brings to such organization the Xerox Replaceable Cartridges (XRC), XRC are supplies for other OEM equipment, typically around 30% lower in cost. XRC is manufactured by Xerox, provides similar or better yield compared to OEM cartridges and are perfectly legitimate.
While complexities of technology continue to increase with the evolution of technology, we have been fairly successful developing mutually complementary solutions that not only address various technological needs but also in turn generate new opportunities.
The Next Generation MPS is designed to build momentum and deliver new value that help organizations of all sizes realize cost savings up to 30% with increased efficiencies. It is designed to:
- Analyze how and why documents are printed, and use that analytical intelligence to change the way information is accessed. It is way beyond merely managing customers’ existing fleet
- Enhance information security without disrupting the IT infrastructure
- Make mobile/cloud printing easier and more convenient
- Evaluate, simplify and improve everyday document-intensive business processes through workflow automation.
Q: According to you, what kinds of challenges exist in the growth of this technology?
SD: India is an emerging market for ‘services’ business and represents significant growth opportunities for Xerox Corporation. We see a fundamental structural change happening in the enterprise landscape where more and more customers are shifting from a Cap-Ex driven captive print infrastructure to an Op-Ex led Managed Print Services.
We believe that our Document Management Services have huge potential to grow! We are constantly educating enterprises and making them realize the potential savings and productivity enhancement through optimized document workflow possible through Xerox Document Management Services. However, what most enterprises do not realize is that the costs and risks of having a fragmented, decentralized document strategy are staggering. It’s more than simply paying too much to create, manage and produce documents. Document management is one of the most neglected parts in most organizations, in spite of the crucial role it plays in enabling operations and its contribution to productivity and efficiency of the organization. The reasons are evident – the ownership in split across functions; costs are not visible and impact on organizational efficiency and productivity are not measured. By taking control of the end-to-end processes for each document, applying Six Sigma methodologies, processes and using market-leading solutions and services, we ensure that the entire lifecycle of documents is managed using appropriate technology in adherence to set standards.
Q: What is DTPS and what does Xerox have to offer?
SD: Though, nearly every document is now originated digitally, but many still end up as paper at some stage in their lifecycle. One of the reasons offices are still stuck with paper is that we don’t provide staff with obvious alternatives. Here’s where Service offerings like Document Transaction Processing Services (DTPS), help businesses to print less– reducing costs by up to 30%; across various verticals like Manufacturing, Telecom and Banking.
From an Organization point of view, think about the opportunity costs of having slow paper based processes for on-boarding customers, fulfilling requests, even in matters of medical emergencies examples could be as simple as how much time does it take for a telecom operator to activate the SIM card of a subscriber, how much time does it take to process the insurance or employee Travel & Expense claims, how every second can make a difference if the medical records could be accessed by doctors in digital form within seconds as compared to searching a physical file in basement of a hospital! Document Transaction Processing Services (DTPS) are designed to deliver efficiency and value to customers by streamlining, digitizing and automating document-driven business processes. With the ‘Digital India’ initiative, nuances that need to be addressed are implementation of technologies such as cloud, high-speed internet, analytics and mobility that are required to bring about digital transformation.
Xerox is making ‘The paperless office’ a reality – which has been both a dream and a myth for over 30 years. Xerox Document Transaction Processing Services streamline business and document management processes to drive growth, reduce costs and give you a sustainable competitive advantage.
Xerox Document Transaction Processing Services are designed to:
- Automate back-office functions by managing incoming documents, digitizing, indexing, and routing their information to electronic document management and storage services.
- Optimize new sales account opening processes to accelerate cash flow.
- Reduce transaction costs and increase accuracy and efficiency of financial processes.
- Simplify, standardize and centralize your employee on-boarding and communication processes.
- Enhance the customer experience at critical touch points to retain and grow relationships.
- Deliver consistent, reliable customer service during peak and non-peak business cycles.
- Ensure compliance traceability of your back-office operations.
Q: How does Xerox drive a DTPS process for a client?
SD: Xerox offers content and document management workflow services to streamline business processes for greater control and faster access to information.
We undertake the process with the following approach:
- Capture: Xerox's comprehensive range of content and document management services, on-site and off-site, digitally captures information in whatever format received – paper or electronic.
- Transform: Imaging services digitize documents for automated data capture utilizing Xerox Smart Document technologies for faster routing.
- Transaction Processing: Electronic information is routed for transaction processing within an organization for immediate and shared use. This streamlines decision making, approval and response time.
- Store: Xerox's range of content and document management and content management storage capabilities are fast, secure and electronically automated to reduce cost while improving access to information.
- Deliver: Ensure organization has access to information, when and where you need it, through the right channel to meet requirements.
Q: Share customer case studies or instances that showcase Xerox’s solution prowess.
SD: Success stories:
- Dillard's, a leading retailer, saved $1.6 million by streamlining its company-wide work processes and printing needs.
- Park University, an independent, liberal arts institution in the U.S. Midwest, worked with Xerox to provide faster access to student information, simplify forms processing, decrease costs via an electronic workflow and increase revenue potential with document management processes in place to support a 300% increase in enrollment.
- Dow Chemical, a science and technology leader, improved time to market by streamlining the product development process and providing R&D with instant global access to documents.
- Xerox helped Marriott streamline Accounts Payable processes and respond more quickly to claims. Faster access to electronic documents improved satisfaction levels of Marriott’s guests and associates, and improved cash flow and supplier management.
- UWV, the Netherlands’ social security organization, used Xerox eFLOW software to recognize keywords and data in customer benefit claim forms and letters, and automatically route claims through the approvals process. This removed days, errors and costs from the process of paying benefits to citizens.
How will DTPS help you as a client?
Eliminate the costs in your back-office operations and drive growth with Xerox Document Transaction Processing Services. Transform your business information with efficient document management services for business process improvement and:
- Increase productivity:
Transform your work processes by capturing critical business information at the point of origin. Improve your ability to search and retrieve documents while linking related information together. You’ll find critical information when you need it.
- Streamline processes:
Remove the bottlenecks associated with lost or missing information by safely storing and managing documents and automating information routing within your critical business processes.
- Reduce cost of operations:
Gain economies of scale by reducing system maintenance and labor costs though process automation. You’ll also drastically decrease the number of hard copy documents and the time spent searching for missing information.
- Enhance customer satisfaction:
Increase the speed and quality of setting up a customer account. By improving document management during the life of the account, you’ll enhance your customer’s experience every step along the way from account opening through ongoing retention.
- Improve cash management:
Take maximum advantage of early payment discounts and save by reducing late payment penalties through automation of your processes.
- Support regulatory compliance:
Improve your internal controls, ensure compliance and reduce risk with an auditable record of your information.
