This spring one of the largest banks in the United States starting using BearTracks at more 60 sites.
Every year the FDIC lists the largest banks in the country in the Top 50 Bank Holding Companies by Total Domestic Deposits
Data report. Looking at the most recent report we are pleased to announce that four of the ten largest banks in the United States are now using BearTracks on an enterprise scale. By enterprise scale we’re talking about tracking thousands of items per day at dozens of sites or more.
What are banks looking for in tracking systems for their internal logistics
needs? In our experience banks need four major features.
Banks and other companies in the financial services business are subject to many laws, rules and regulations. In order to remain in business, banks must state that they are compliant with these requirements. However at any time they may be asked by regulators to prove their compliance. BearTracks enables banks to prove, for example, that they are handling customer mail, which almost always contains personally identifiable information (PII), in accordance with regulations. Each customer can configure BearTracks to suit their specific workflows. BearTracks captures the complete history of the chain of custody for every item from initial receipt through final delivery. This information is key in proving compliance.
Reduce Shipping Costs
Large banks have many offices and spend considerable amounts of money moving documents, computers, mobile phones, and other items from site to site. BearTracks supports an accountable interoffice service that provides desk-to-desk tracking of items for both sender and recipient. It also enables banks to consolidate multiple items in a mail pouch (typically a cardboard box) as a single shipment. An internal accountable interoffice service can save a bank hundreds of thousands of dollars in shipping costs each year via consolidation. Getting employees to trust and use the internal service requires that the service be operated reliably and provide great visibility – which is where BearTracks comes in.
Operating an accountable interoffice service – or any office service – effectively and efficiently requires accurate and objective measurement of performance. This is true whether the service is operated by bank employees or by an outsource firm. Capturing the history of how each item is handled (when, where, what, who) provides the raw data for performance analytics. Although simple date arithmetic suffices for simple service levels, it is not sufficient in many cases that apply to banks. Taking account of the item category and status, of work hours, weekends, and holidays (which may differ from site to site or country to country) is harder – but BearTracks meets this challenge for our banking customers and others.
Support the Enterprise
Providing an internal logistics service across a large company, particularly if there are many offices, can be challenging. With some software packages, it is either too difficult or too expensive to support all the smaller offices. This is not the case with BearTracks because the Small Office module provides an easy and inexpensive way to support services to all locations, even those that lack dedicated mail services staff.
Banks have many challenges in today’s business climate. An increasing number are using BearTracks to support mail services and other internal logistical functions. If you work for a bank and have questions about how to manage your office services, please contact us