Records management

Rita in records management oversees a team who is responsible for documents, records and forms. They are required by law to keep records — taxes, employee records, claims, financial statements, legal documents and much more.

The amount of business records they manage continues to grow exponentially, and it comes from numerous sources in many different formats like emails, PDFs, Word documents and more. When retaining these paper documents and records, the team often stores them in file cabinets or other storage facilities, opening the organization to damage or theft.

Lease administration

Liz in lease administration faces unique requirements. New FASB and IASB regulations require Customer First Corp. to gather in-depth lease details that weren't gathered previously and include it in financial statements. Liz and her team must pore over data to locate the required fields. The work of locating leases for this global company, including those that are scattered across departments, systems, buildings and geographic locations and even those leases that are embedded documents is a huge task for which the company cannot dedicate resources to.

The team is attempting to develop data conversion, new processes, workflows and audit trails. Piled on top of their usual workload, the amount of time required and even the level of expertise in leasing law are gaps within the company. FASB-compliant information must be integrated in the accounting system.

IT

Ike in IT is trying to move IT from a cost center to a revenue generator. However, outdated technology and inefficient systems make that goal unattainable. In a digital world, to remain relevant, Customer First Corp. must be equipped with always-up-to-date modern technology, expert resources, hiring and training — all of which mean huge investments. Improving digital presence continues to represent a large portion of the IT budget.

Digital transformation

To stay competitive and relevant, Customer First Inc. reinvents the entire business process, including:

• Cutting the number of manual steps required.
• Reducing the number of documents.
• Developing automated decision-making.
• Dealing with regulatory and fraud issues.

We are living through a fundamental transformation in the way we work. This isn't a time to sit back and wait for events to unfold. This isn't about some 'far future' of work — change is already happening and accelerating.

Digital transformation sweeps across all of these functions of the company, making it a mammoth initiative that Customer First Inc. isn't prepared to take on alone.

Obstacles include the amount of time, resources, money and technology needed make digital transformation a reality — all of which distract from core competencies. The future isn't a fixed destination. Plan for a dynamic rather than a static future.

Business Processing Outsourcing (BPO)

It's all about doing business smarter and faster with more efficiency and less redundancy. If Customer First Inc. were to choose to work with RICOH Business Process Outsourcing, the company could align its goals and help achieve digital transformation. Digitizing documents in and of itself creates a visible difference on the bottom line.

In addition, with Ricoh as its BPO partner, Customer First Inc. remains current on the newest technologies without taking on the high costs. We invest in cutting-edge technology and capabilities to improve efficiencies, while Customer First Inc. reaps the rewards of such innovation without needing to invest in the capabilities.

BPO provides the ability to quickly scale up with an already trained staff who can handle the increased volume of business, making the business much more nimble. High fixed costs become variable costs based on your scale, growth or workload.

As a result, departments across the Customer First Inc. focus less energy and fewer resources on everyday business processes not related to the core business and are able to fuel growth by recommitting resources to core objectives. The company is able to improve their bottom line and delight customers.

Achieve your business's full potential and help maximize efficiency, agility and customer satisfaction, with RICOH Business Process Outsourcing services.