eForms

Challenges

A leading investment company wanted to reduce the costs linked to the processing of various forms which were filled in by customers for the purposes of interaction with the company.

 

On the one hand, the investment company was facing high printing costs due to the edition of around 50 different paper forms with a total print run of 1 million pages per year, or a corresponding countervalue of around 500k EUR.

 

On the other hand, customers filled in the forms manually, which was error-prone and led to inconsistencies. Sometimes, forms were simply illegible because of handwriting styles. So approximately 20% of returned forms required rework by the back-office.

euroscript's solution approach

  • Replacement of paper-based forms by electronic forms in PDF format, for use with Adobe Acrobat Reader
  • Integrated guidance for filling in forms (form fields)
  • Validation of form content prior to print-out (embedded controls / plausibility checks)
  • Print-out of forms for personal signature

Benefits for the investment company

  • Print cost reduction by half (~ 250k EUR)
  • Return on investment (ROI) calculation:
    Solution investment cost versus annual back-office cost for manual rework:
    100k EUR vs 1.250k EUR1

 

 

1 Back-office cost calculation, assuming that:

500.000 manually filled in forms are returned per year. 20% of returned forms require rework. Rework by the back-office takes 15 minutes per form at 50 EUR/hour.

Costs at stake: 500.000 x 20% x 0.25h x 50 EUR = 1.250k EUR/year