Is it time to rethink your printing and mailing processes? Statement printing can be expensive and hard to manage, yet it’s critical to facilitate customer communications. You have compliance, accuracy, and quality considerations, which can all improve with statement printing services.
By outsourcing these functions to professionals, you can save money and time while improving compliance and much more.
Statement Printing Services, What Do They Include?
Depending on the types of statements you send as well as their volume and complexity, you’ll find a variety of services for these. However, they aren’t all the same. First, you’ll want to look at what the services include and compare them to what you need.
Statement printing services from a transactional print and mail company offer:
- Compliant processes and protocols to protect confidential data and adhere to its usage.
- Accuracy mechanisms to ensure that every statement arrives to the correct customer.
- The ability to print dynamically so that each statement is customizable with more relevant messaging or offers.
- Quality safeguards to reduce waste and consistency in production.
- Robust security practices for both data and the physical space.
In each of these elements of statement printing services, you can leverage a turnkey solution that removes the costs and burdens of doing the work in-house. So, how do you evaluate providers to find the right fit for your bank or credit union?
How to Evaluate Statement Printing Services
When deciding to implement outsourcing of statement printing, you’ll want to assess your choices carefully. Here are the areas to focus on that matter the most.
- Expertise in the industry: Not just any print and mail house should be creating statements. It’s a rigid process with many regulatory considerations. The company you select should be one that only works on transactional print and mail.
- Regulatory experts: You’ve got multiple regulations to consider in statement printing. As a result, the partner you choose should comply with all those and have specific policies about how their workflows are compliant. Providers with a full-time compliance officer also demonstrate their experience in this area.
- Technology that supports accuracy: Being accurate in your statement printing isn’t an option. Mis-mailings can lead to breaches, possible fines, or reputational harm. However, accuracy improvement doesn’t mean the process can’t be scalable and automated. With the right technology, including barcode scanning of every page to ensure the right statement is inserted to the correct envelope, and other insertion functionality, you can achieve speed without compromising accuracy.
- Dynamic and well-designed statements drive engagement: The ability to print dynamically for statements is more than just the specific account information. You can also customize blocks in the document to introduce promotions or other information. You can also easily refresh your statement design to add color and other visuals to make statements easier to read.
These four areas will help you make an informed comparison between organizations. You can then realize all these benefits and more.
More Benefits of Statement Printing Services
As reviewed, you can expect greater accuracy, quality, security, and compliance with statement printing solutions. These are some other areas with advantages, as well including cost savings.
If you’re doing this in-house now, you have a budget for all this that includes materials, equipment, postage, labor, space costs, and more. You can eliminate all these and have a consistent price from month to month. If you need to cut expenses, this type of outsourcing can make a huge difference.
Another benefit is that you don’t lose control or transparency of the process. You would have a complete view of all your jobs and features to track mailings through a real-time portal. What happens to your statements once you send data isn’t a black hole or mystery. You can see the complete lifecycle of a statement in a few clicks.
Statement Printing Services: Community Banks and Credit Unions Can Rely on PCI Group
Are you ready to reconsider your statement printing operations? With money to save and quality and accuracy able to improve, your community bank or credit union has a viable option for outsourcing. Working with our team of experts delivers all the features and reliability you expect while driving down costs.
Start the process by viewing all our solutions for the industry.