Madrid, Jul 6, 2023 – We all need to change with the times. This applies to all companies and industries. Central business and customer communications management systems generate a wide range of documents, receipts, invoices, and financial statements. And they are all important to banks, real estate firms and other companies in the insurance, utilities, healthcare, telecommunications,and logistics industries.
Most of these documents are generated in proprietary print formats that are not supported by enterprise content management (ECM) systems or content service platforms (CSPs). As a result, some companies are forced to rely on costly and outdated archiving systems to store and manage these types of documents.
Fortunately, there is a solution to this problem that ensures an efficient, secure, and convenient customer experience: improving the digital transformation and archiving of customer communications. Here are six strategies to achieve this.
Six strategies to improve digital transformation and archiving
1 – Implement an electronic document management solution
These types of solutions enable the digitization and secure storage of all customer communications, such as account statements, contracts, and correspondence. They also facilitate the search, retrieval and archiving of documents, which improves efficiency and reduces the physical space required for storage.
2 – Automate document generation and delivery
Automation allows sendingcustomized and relevant customer communications quickly and efficiently. Predefined templates and customer data can be used to automatically generate documents such as contracts, transaction confirmations and notifications, thus reducing errors and saving time.
3 – Offer authentication and electronic signature options
These options make it easy to conduct transactions and sign documents securely and without the need to move from one place to another. They also streamline processes, improve customer experience, and minimize reliance on paper documents.
4 – Ensure security and regulatory compliance
In industries such as banking and insurance, data security and regulatory compliance arecritical. Companies in these industries must ensure that their infrastructure and document storage systems are secure and comply with security standards. They must also guaranteethat they comply with key data protection and consumer protection laws.
5 – Enable access to and search for documents
It is important to ensure that customers can easily access their digital documents through online platforms or mobile applications. It is advisable to provide them with advanced search options so they can quickly find the specific documents they need, which enhances their experience and reduces the need for additional assistance.
6 – Educate customerson the benefits of digital archiving
Customers need to know the benefits of digital transformation and archiving: convenience, 24-hour access to information, time savings and mitigation of environmental impact. They need clear instructions on how to access digital documents and how they can use the available tools to effectively manage and organize their information.
Five benefits of modernizing customer communications transformation and archiving
- Reduces IT operating costs: It enables companies to decommission obsolete archiving and retrieval systems to reduce software maintenance, hardware, and storage costs.
- Improves customer communications: It offers a modular and extensible web service platform for processing and archiving documents, invoices, and customer statements.
- Improves operating performance: It manages retrieval and transformation operations forvarious sub-processes and stores frequently used resources in the cache memory.
- Increases accessibility to customer communications: It converts customer communications that are in PDF and HTML format, which are not easily accessible to the visually impaired, and ensures compliance with current regulations.
- Mitigates compliance risk: It enables organizations to comply with banking, insurance, healthcare, and other regulations by retaining customer statements, accounts, invoices, and customer correspondence in accordance with rules and trends.
Success story in the banking industry
A large retail bank had to demonstrate compliance with banking regulations by providing a complete analysis of its customers’credit card statements for the previous 10 years, which involved analyzing more than fifty million issued cards.
The bank used cutting-edge document software technology to automatically convert, identify, extract, and reuse the information needed to demonstrate compliance and gain valuable insights into its customers’ behavior in the process.
Practical examples of use cases in the business and IT fields
There are many business use cases where it is advisable to modernize the transformation and archiving of customer communications: electronic invoice, customer self-service, claim processing, hospital discharges, requests for information, loan origination, transportation documentation, logistics forms, document accessibility for the visually impaired…
And there are also, though fewer, clear examples of IT use cases: infrastructure, modernization, digital transformation, cloud archiving, content synchronization, migrations, integrated customer communications management, and standardized content access and usability.
Improving the digital transformation and archiving of customer communications in any industry requires a combination of technology solutions, data security and effective customer communication. If companies implement these strategies, they will be able to offer a seamless and secure digital experience to their customers, thus optimizing processes and strengthening the relationship with them.
But it is not only private companies that need to address this improvement; the biggest challenge is posed by public administrations, which are also obliged to provide a good service to citizens and have massive amounts of paper files stored. Here the room for maneuver is even greater. Therefore, no one escapes the need to improve the digital transformation and archiving of their documents.
About DocPath
DocPath is a leading enterprise document software company that offers its international customers the technology that allows them to complement their ERP and implement advanced Document Output Management, Customer Communications Management and document software pooling processes.
Founded in 1993, DocPath is based in Europe, USA and Latin America and is present with its Solutions in companies around the world. Among its customers there are prestigious banks and top-tier corporations, facilitating the difficult and complex task of designing, generating and distributing their business-critical documents. DocPath keeps a strong commitment to R+D+i, an area to which it allocates a large part of its revenues, and in which lies one of the keys to its success.
For more information, visit: www.docpath.com.
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