As you consider ways to drive efficiency and reduce costs in 2023, you’ll likely be assessing components that aren’t core competencies. One of the most expensive and time-consuming of these is managing an in-plant for transactional mailings. These specialized communications require streamlining, compliance, and accuracy. They come with capital and operating expenditures and only seem to get more complex. As a result, it’s an excellent time to consider outsourcing statement printing and mailing services.
Check out why it’s time to reconsider your print and mail operations.
Save Money in Many Ways
When considering all the costs for an in-plant, there are many. They range from specialized equipment to paper and other materials to postage. Then there are labor, space expenses, and security measures. These costs will only increase, especially regarding technology, paper, and postage. By working with a transactional print and mail provider, you can minimize your spending on statement printing and mailing services.
You’ll be able to zero out the capital expenses altogether. You’ll only be paying for the operating costs, which will always be less, with a company with high volumes to lower the cost of paper and postage. Further, these organizations use dynamic printing, eliminating the need for pre-printed templates and the associated storage fees and obsolescence of these materials.
The amount you save could be considerable and allow you to reinvest that into other parts of your business.
Enhance the Accuracy of Mailings
In statement printing and mailing, you have zero room for mistakes. If the wrong document ends up in someone else’s mailbox, you could be in jeopardy of noncompliance or reputational harm.
The accuracy of these documents shouldn’t be left to chance. Rather, high-tech sorting machines and the use of barcodes scanned by tiny cameras improve accuracy abundantly. In addition, plants that use Lean Manufacturing and Six Sigma have processes that provide even more assurances of accuracy.
Worry Less About Compliance and Security
Compliance with statement printing and mailing services depends upon the information inside the envelope. No matter what regulations you must follow, you may not have the capacity or expertise to stay informed and in compliance. In many situations, a violation is inevitable.
However, outsourcing to a reliable print and mail provider can remove these worries from your plate. Such organizations are rigid in their compliance protocols and have a compliance officer overseeing all operations.
Compliance isn’t your only worry with transactional mail. You’ll have to pass the data to your printer, which has inherent risk. The process can be highly secure when you work with an organization that prioritizes data security and protection. They use firewalls, IPS (intrusion protection system), encryption, and more to create a safe passageway for files. Physical security is also part of their policies, including controlled access, security systems, and camera monitoring.
Improve the Look of Statements for Greater Engagement
How your statements look matters in engaging customers. If they still look as they did a decade ago, you should rethink quality. First, you can tap your print and mail partner to assist with a statement redesign that improves readability and uses formatting to highlight important information.
Second, you can use dynamic printing for statements to personalize messaging to customers. You could use this space to upsell them on other services, direct them to download your app, or advise them of upcoming changes.
Third, your new statements can be in four-color at a cost-effective rate. Using color reiterates your branding and gets the attention of recipients.
Access Data and Reporting for Insights
Data is a valuable asset that your company generates and analyzes in many ways. In-plants typically don’t have an easy process for this, as it’s mainly manually conducted. As a result, it takes too long to decipher insights.
You can easily overcome this challenge by outsourcing. Enjoy real-time access to the data related to all your jobs. You can understand your costs through this data so that you can budget more accurately. Additionally, you’ll know how long it takes for statements to arrive in any part of the country, which can be helpful in planning.
Start 2023 with Greater Operational Efficiency by Outsourcing
If you’re seeking ways to decrease costs while improving a process, outsourcing statement printing and mailing should be at the top of your list. The benefits are significant and deliver value to your company. Learn more about outsourcing today with the experts at PCI Group.