Printer Device Consolidation and MICR -- Source Technologies

People typically look at MFPs simply to save money and workspace by consolidating devices. But today's MFPs (also known as "All-in-Ones" or AiOs) are pretty smart, featuring bi-directional control, extensive programmability, large LCD displays, even hard drives. Moving beyond simple device consolidation, many companies are deploying multifunction printers to manage complex business processes and workflow. For example, we recently began deploying MICR-enabled MFPs where check printing is a critical part of the process, such as new-account opening or mortgage processing.

However, more is not always better. Dedicated devices sometimes work best - such as if you do a lot of faxing from a single station or print lots of checks on a dedicated MICR printer behind the teller. It is important to assess your tasks and volumes in all these activities-printing, copying, faxing-in an integrated fashion.

You might want to try this simple output assessment exercise with a couple branches in order to get a feel for the right strategy:

1. Physically map out all of your output devices in the branch; printers, copiers, fax machines. Document their uses (loan application faxing, general copying, MICR teller checks, etc.) and the volumes for each use at each device.
2. Look at cross-device tasks and the distances between devices serving the task (for example, moving from a printer to a copier to a fax machine, then back to the printer for a new-account setup). You'll be surprised at the shoe-leather (and time) expended just moving between devices.
3. On your existing device map, overlay MFPs where cross-device workflow tasks can be consolidated. Don't spend too much time worrying about whether there is enough volume to justify MFPs versus individual devices; it doesn't take much to justify MFPs where complex processes are streamlined.
4. Subtracting out the new MFP usage, assess the remaining uses and volumes on existing devices. Where there are high volumes (and frequency-lots of small jobs all day long), you will want to retain dedicated devices.
5. Subtracting out workflow MFP and dedicated device usage, look at what's left from a pure device consolidation viewpoint. It may come down to one MFP located centrally. If it's just dribs and drabs, you may be able to just push the remainder onto your new MFPs and dedicated devices. BUT, beware of physical bottlenecks or introducing more "shoe-leather" time; for instance, tellers having to walk across the branch just to make a copy.

With this newfound understanding of your workflow and branch output requirements, you will be better equipped to look at vendor offerings for both hardware and software. Also, you may want to go through the same exercise in a real world pilot in order to understand your real pains and gains before rolling out to the rest of the bank.