by Mark Schneider, Y Soft North America
It’s difficult to pick up an industry magazine, view tech websites or attend a conference without hearing about Digital Transformation. The media hype and analyst predictions can leave one feeling behind the curve if not actively engaging with customers on the topic.
The important thing to remember is that most companies are not nearly at the point of true digital transformation. According to IDC’s Digital Transformation (DX) MaturityScape Stage Overview, most companies are still stuck in stage 2. The fifth and final stage is still a long way off for most.
Your customers are still on a journey and many are looking for solutions that help them progress to stage 3. As an MPS provider who makes a living on the printed page, is this a threat or is there opportunity for you?
What is Digital Transformation?
Using IDC’s definition, Digital Transformation (or DX) enables enterprises to drive changes in their business models and ecosystems by leveraging digital competencies. A quick summary of the five stages they’ve identified:
1) Ad-Hoc where paper-centric workflows dominate.
2) Opportunistic where scans are image only capture and connected to ECM or document repositories.
3) Repeatable is intelligent scan capture where content can be extracted, indexed and categorization is automated.
4) Managed which uses third platform technologies (think AI, AR, VR) to support real-time access and use across digital devices.
5) Optimized is the ultimate level where automation crosses all departments and adjacent workflows are triggered through use of innovation accelerators such as IoT, cognitive systems or robotics.
The business outcomes possible under each stage become more and more compelling. But only a small percentage of companies are at the forefront with associated budgets and resources to get past stage 2. By taking more practical steps, you can help them progress to stage 3.
What’s in it for me?
It’s a healthy sign for any industry to evolve and MPS is no different. Today, MPS is evolving to include MCS, Managed Content Services. Living in the paper world gives you insight into your customers’ paper based processes, in other words, stage 1 of digital transformation. And perhaps, some of your customers are scanning documents as image files and storing them in document repositories, stage 2.
According to Gartner1, “The digital imaging and printing equipment, supply and service market is steadily declining… To survive, technology strategic planners of print and imaging providers need to make further inroads into MCS, (Managed Content Services) which optimizes customers' business processes and helps them reduce their dependence on printing and paper. MCS brings mostly new revenue and is a less mature business.”
Stage 3, intelligent scan capture, delivers the value that customers understand and appreciate i.e. cost reduction and faster productivity. Intelligent scan capture offers you a new revenue stream and positions you as a trusted supplier that can help organizations on their digital transformation journey.
Y Soft is helping MPS providers do this every day.
My colleague recently shared tips on what to look for in a document capture solution in a MPSA webinar. The recording is available to members. I’d be happy to chat with you about it. Whether you offer scan workflows as a stand-alone solution or as part of print management , you will drive value for customers who are looking to MPS providers to help them move up the DX curve.
Be part of the evolution, drive value and increase your revenue! When your customer is ready to move on to stage 4 and 5, ….well we can’t say that AI, AR and VR technologies are ready just yet in the print and imaging industry. But we’re keeping an eye on them.
1Gartner, January 2017, Exploit Print Market Dynamics Primer 2017, Document # G00318293