Outsourcing Document Production Could Save Banks Millions
UK banks have substantial opportunity to improve document production efficiencies, according to a report commissioned by Pitney Bowes Management Services. The report found that around EUR 878 million of document production could be made less costly and more productive through outsourcing to a third party. Across larger British companies, the document production market is worth over 38 per cent of the IT market. IT has been subject to major outsourcing efforts, with a current market penetration of 28.32 per cent, whereas document outsourcing is less than half of this penetration level at 11.8 per cent. At over 22 per cent, document outsourcing penetration levels in the US are double those in the UK and rising, said the report.