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How Can Financial Services Companies Stay Competitive While Working Remotely?

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Financial organizations need to create more digital workflows if they want to be successful while operating remotely.

Op afstand werken tijdens een wereldwijde pandemie is voor veel werknemers een grote aanpassing geweest en bedrijven doen wat ze kunnen om zich aan te passen. Veel werknemers hebben echter nog niet de juiste tools om thuiswerken volledig mogelijk te maken. We hebben besloten om een diepere duik te nemen in de trends die zijn uitgelicht in Een deel2 van De toekomst van werk rapport en onderzocht hoe werknemers in specifieke sectoren omgaan met deze nieuwe norm.

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Outdated document processes remain a pain point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.

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