Financial Services

%

Reduction of Devices

%

Reduction in Overall Costs

Client 1

Challenge

This Top 5 Financial Services Company created an internal organization to eliminate paper from as many processes as possible. Costs were on the rise, devices and paper proliferated, while employee productivity was stagnant.

They engaged our team to help as we had previously helped them develop a digital print-on-demand production strategy that saved more than $75M.

Solution

We deployed multi-vendor technology to over 300,000 employees’ desktops and more than 60,000 networked devices. We built the first-ever dashboard, including spend.

We built the strategy, business case, benchmarked it, and delivered an ROI.

The client knew that culture trumped strategy so change management would be critical. We focused on transforming the mindset from print-everything to believing the most efficient, cost-effective, secure, and sustainable was the page never printed.

Result

We partnered with the client to provide specific user data down to the first-level manager by business line. This dashboard enabled them to quickly compare what “best” looked like within and beyond their business unit.

Results quickly followed with devices reduced by 75%, paper being eliminated by >60%, costs down by 65%.

Combining less paper with securing every device propelled this client with lower costs, higher productivity, and granular transparency.

This client remains one of the largest still being managed.

Not only does PathForward offer network-friendly and vendor-independent solutions to help us understand the massive scope of activity, they also offer expert analysis and collaborative resources to help us develop strategies that would allow us to look at the global big picture of print, but ALSO allow us to zoom in and approach each Major Line of Business with the data necessary to work together to support and prioritize workflows and business needs to create efficient processes and the infrastructure to support our unique business needs.

SVP, Top 5 Bank

> $60M

Cumulative Savings in Annual Printing Costs

500

Print Servers Eliminated

%

Reduction in Print Volume

Client 2

Challenge

This Top 5 Insurance Company knew there was a better, simpler way to manage all the paper – they just didn’t know how to get there or have the resources to implement it throughout their distributed office locations.

Solution

We started the culture change in the Midwest, moved to the East, and now throughout the global enterprise to change the relationship end users have with paper.

These projects are more about managing change than managing print and in this successful implementation, we:

Introduced cloud technology
Increased security
Trained every employee on change management
Developed metrics
Developed an outlier analysis to highlight the true cost of printing from the work-from-home folks, to those in the office, to the data center and mailroom

Result

When we first started, resistance to change was very high. Over the course of the relationship, we are proud to say today there is very little resistance.

Pages per user have been reduced from over 600 pages/month to less than 100.

Total print cost savings eclipsed $61M in 8 years.

This cost savings number doesn’t even factor in additional savings they will generate by removing nearly 500 print servers and their annual maintenance cost of $7,500 per print server.

Sustainability measures remain a top priority for this once paper-intensive client so they are now visible in real-time.

As workers have moved to a hybrid work environment, so too has our technology in securing their home offices.

In my 31 years of working with strategic partners, I have not found another company that is as trusting and does what they say they are going to do (or is transparent as to why a goal can’t be met). They are more than consultants who make recommendations and walk away. They actually have print experts on staff that will help you with developing a strategy, implementing the strategy, reporting on findings, tracking savings and sustainability metrics, helping with RFPs, etc. They are a key member of my print team and I wouldn’t have achieved the results I have without them.

Director, Top 5 Insurance Company

%

Reduction in Print Spend

$65M

Yearly Expense Turned to Cash

Client 3

Challenge

After 9/11, this Top 3 Card Company sought to reduce the rising costs of a print and fulfillment operation: employees, insurance, facilities, print operations, and postage/freight.

To refocus on their core services, they wanted to outsource a $25M print and fulfillment operation.

Solution

During the baseline, we uncovered another $40M of print that was being sourced, brought inside, and fulfilled when channel partners needed material.

In essence, this was a $65M printing company that had superior technology, great talent, and a world-class ERP system.

Rather than outsource the operation, we helped facilitate the sale of this digital-offset-distribution business.

Result

With selling the operation, we turned what had been a growing $65M/year expense into cash.

In addition, we sold the 100,000+ sq foot building; transitioned more than 200 employees to become part of a company where print was at the core, as was their career path.