“We need to be more than just imaging experts.”
-Patricia Ames
Vertical markets are a challenge and an opportunity for channel partners — each one comes with its own set of unique problems and trends. Many industries have strict security regulations to adhere to; most require a helping hand from software to handle the overwhelming volume of paper and electronic documents funneling in and out of their doors each day. But where those businesses see a problem, a savvy office equipment dealer will see an opportunity.
Providing affordable, efficient printing solutions AND solving their customer’s vertical-specific regulatory, data security, information management and workflow problems makes them not just a dealer — they are a partner. But before they can do that, they’ll need a thorough understanding of the rules and trends that affect their customers’ business if they want to keep up in today’s ultra-competitive marketplace.
In other words, you need to know your stuff. We’ll help you get the ball rolling with some details on a couple of key verticals.
Healthcare
The healthcare industry is burdened by regulations, security concerns, and slow, inefficient processes. Maintaining HIPAA compliance can be a daunting task, and failing to do so can create an expensive problem. On top of that, patients aren’t confident in their provider’s ability to protect their private healthcare information or provide good service.
According to the 2017 Xerox eHealth Survey, nearly half of respondents were worried that their personal information would be stolen. And their concern isn’t unfounded; Xerox noted that in 2016, multiple breaches were reported daily. It’s not that patients believe their doctors are incompetent — they just don’t seem to trust the old ways of doing things. More than three-quarters of respondents believed that a digital alternative would be more secure than using fax machines to share medical information between providers.
But patients aren’t just fed up with poor security — they think that healthcare providers are too slow. Eighty-seven percent of respondents believed that they would receive test results and diagnoses faster if these documents were shared digitally and that the quality of service would improve if there were better information sharing and coordination among different providers. In fact, 19 percent would rather deal with the DMV than coordinate with different doctors, which is really saying something.
But it’s these types of problems that can be a dealer’s inroad to secure more business and add more value. For instance, Xerox’s Healthcare Multifunction Printer Solution leverages Kno2 — a HIPAA-compliant clinical document exchange cloud service — to replace slow, inefficient and insecure information sharing methods.
Healthcare providers can replace their faxing infrastructure with the “Share Patient Information” button embedded on the device’s control panel, which will relieve patients’ security anxieties and enhance the quality of service by improving internal workflows and enhancing the way providers communicate with their patients.
With a simple addition to the MFPs in your portfolio, you can transform a customer’s cost center into a margin-making machine. Amy Weiss of The Imaging Channel covered this innovative new MFP right after it launched in this article Xerox Healthcare MFP Helps Small Providers Go Digital and Compliant.
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Finance
Digitization might be the greatest thing to happen to finance since the invention of money. However, despite cutting tremendous costs while getting things done much faster than in the past, the “do more with less” mantra is still very much alive. Meanwhile, financial institutions must juggle strategy with a number of ever-changing industry regulations that dictate how data needs to be stored and who can see it, and set reporting standards.
Dealers can step in with Robotic Process Automation (RPA) solutions — which use software robots that are programmed to execute rules-based, repeatable processes that would traditionally require a human worker — to automate processes and mitigate regulatory pain points.
Software robots interface with all of your key systems and applications like email, spreadsheets, mainframes, and other key systems, and offer a number of automation use cases in the financial field.
Your customers can automate simple and complex processes such as matching up payments and applying cash, validating payment entry, data collection and analysis, invoice matching and exception reconciliation, currency conversions, credit analysis, spreadsheet formatting and processing, letter and email generation, billing transactions, and data retrieval, joining, compiling, analysis, and visualization.
They can also contribute to better, more efficient regulatory compliance. For one, RPAs can separate users from sensitive information as much as possible, reducing the odds of falling out of compliance with data protection rules. As for reporting, these bots can save businesses a ton of time and money. Instead of feeling the crunch at the end of every quarter, robots can generate reports and visualize that data on time every time so employees aren’t tearing their hair out.
The Path to Success
There is a lot to learn about all of the different, unique industries you serve. Understanding the rules, uncovering the pain points, and seeking solutions to your customers’ problems in the products you sell is an excellent approach. And if you can do that, people will want to keep you around. And that’s the difference between being just a vendor and being a valued partner.
Become a Xerox Channel Partner
Visit the Xerox Global Partner Program (GPP) site and apply to become a Xerox channel partner today. Once accepted, you’ll gain access to success-generating resources such as sales incentive programs, training and certification opportunities, and digital marketing support.
To find out how other channel partners are helping small businesses improve their business process with digitization, join our private Xerox Channel Partners LinkedIn Group.
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