Financial organizations need to create more digital workflows if they want to be successful while operating remotely.
Working remotely during a global pandemic has been a major adjustment for many employees, and companies are doing what they can to adapt. However, many workers still lack the right tools to fully enable working from home. We decided to take a deeper dive into the trends highlighted in Part 2 of The Future of Work report and explored how workers in specific industries are managing this new normal.
In this post, we’ll be focusing on the financial services industry.
Did you know pre-COVID, only 26% of financial services professionals were working remotely? Now, that number has jumped to 79%! With more employees at home, it’s important for financial organizations to have the right processes and solutions in place. The problem is many don’t.
Outdated document processes remain a pain point
According to The Future of Work report, 83% of workers said the way their company handles documents had not improved significantly during the COVID-19 pandemic. On top of that, 56% of remote workers are still printing and 50% still scanning, despite over 60% not having printers or scanners at home.
This is kind of inefficiency is extremely problematic for financial employees who work with a significant number of documents daily. Over 40% manage more than 10 documents a day, and 13% handle more than 20 a day!
Can you imagine printing off that many documents daily? It might’ve been manageable at the start of the pandemic, but at this point, it’s no longer acceptable. Bottom line: Financial organizations need to create more digital workflows.
Having a digital document solution will not only help increase productivity, but also reduce costs, improve employee satisfaction, and boost profitability.
Financial services companies need to change their ways
Sixty percent of financial professionals manage documents regularly in their role. So, it’s critical for organizations to start streamlining document workflows. Financial services companies like Swiss Re, Barclays, AIB, and Assurance are already ahead of the game, reaping the benefits of document productivity tools.
If financial companies want to gain a competitive edge in this new remote environment, going digital is key.