Recent events, including labor shortages and supply chain challenges, have created a new level of complexity for organizations of all sizes. In the interest of efficiency and growth, many are outsourcing the printing and mailing – and digital delivery – of critical communications such as bills, statements and notices.
Offloading transactional communications enables organizations to focus more on their core businesses. As they reevaluate their communications needs – from data composition through delivery and archiving – organizations are creating a more manageable, cohesive experience for consumers and internal stakeholders.
Based on research from Keypoint Intelligence, over 70 percent of survey respondents (representing enterprises in a variety of key business verticals, including banking and finance, insurance, health care, utilities and telecommunications) were outsourcing at least some of their printed transactional communications. Of those printing such communications externally, 67 percent reported they were using the same provider to manage both their print and electronic document delivery.
Outsourcing transactional communications could lead the way to reduced costs, enhanced consumer experiences and a migration to digital document delivery.
There's a good reason behind the outsourcing trend: The cost of staying competitive can be too much for some organizations to bear alone. By outsourcing transactional communications, these companies enjoy three key benefits:
1. Reinvestment Opportunities
Outsourced partners acquire and maintain the most current hardware, software and facilities, as well as the necessary supplies and personnel. Outsourcing nearly eliminates capital requirements, maintenance agreements and real estate commitments dedicated to document production, which means capital and staff can be reinvested in your core business.
2. Lower, More Stable Costs
Physical mail often becomes a target in cost-reduction efforts. But rather than wipe out a channel that's still important to many of your customers, a reliable partner can help reduce your costs and optimize the communication experience across all delivery channels.
Outsourcing partners can purchase cutting-edge technology and supplies at scale, realizing significant discounts compared to in-house operations. That lowers and stabilizes your per-document costs, because you won't be burdened with large capital expenses such as labor, real estate and equipment, especially during nonpeak periods.
3. Advanced Capabilities
Cost is only one part of the equation. By outsourcing, your organization can gain access to advanced features, functionality and equipment. A proficient partner can guide you toward best practices and provide the most advanced tools and techniques for personalization, rules-based targeting, color use, tracking and reporting.
A New Source of Value
Outsourced partnerships open new possibilities, enabling your organization to create sophisticated and enriched consumer experiences across documents and delivery channels.
If document production and delivery are not among your organization's core competencies, consider establishing a strategic partnership with a single-source provider that offers advanced technology and resources. Outsourcing transactional communications could lead the way to reduced costs, enhanced consumer experiences and a migration to digital document delivery.