The finance industry is undergoing a massive transition because of fierce competition in the economic downturn. The market faces increased competition from automobile manufacturers, retail operations and insurance companies that have recently become lending institutions.
Today’s financial institutions have expanded traditional offerings to include insurance, mutual funds, and trading products. This expansion creates challenges for improving organisational performance. Therefore, firms need greater control of labor and printing costs, such as the mailing, filing
and physical storage of paper-based documents. They also require economical hardware and high-yield supplies to save overall expenditures associated with printing and document management.