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Specialized, built-in compliance technology helps midsize providers turn challenge into opportunity
Fifty times a year. That’s how often some midsize print and mail providers are audited by their customers. Think about what would happen if work in progress came to a halt each time the audit process occurred. Productivity, profit and customer SLAs would go right out the window.
Think it won’t happen to your business? Ignoring the possibility of an audit is a little like playing Russian roulette. In an industry where speed of processing is important, there’s no time for errors or rework, never mind stopping for an audit.
Over 30 percent of businesses surveyed byInfoTrends stated that security and compliance are a top priority for their critical communications in the coming year.1
And with good reason. Regulatory compliance mandates continue to grow more stringent, and these are no longer just the concern of large print and mail providers. If you serve customers in highly regulated industries such as finance, government, healthcare or insurance you risk losing their business if your operation lacks the capabilities they require. What’s more, your customers drive compliance, and when regulations increase, customer-driven audits and assessments increase too.
To learn how successful midsize print and mail providers are harnessing specialized compliance technology to meet these challenges, read the Pitney Bowes ebook: Maintaining compliance, managing risk: How Pitney Bowes clients are achieving positive business outcomes.
Compliance: It’s not an option, it’s an opportunity
If your business aims for fast turnaround, high accuracy and quality service, then you cannot choose to ignore issues of risk and compliance. But this does not need to be a burden on revenue and productivity; it can also be a growth driver.
Start by taking a proactive approach to risk. Risk finds its way into your workflow through manual processes that are rife with human error. By automating your workflow with a tightly integrated end-to-end system you reduce risk and errors by lowering the number of hands and handoffs that touch each individual mail piece. This creates process integrity, or the ability to track a mail piece from printing through inserting, sorting, and on into the postal system while ensuring virtually zero errors.
While this type of integrated compliance technology may seem costly up front, it is generally much less expensive than scrambling to fix an issue or respond to an unexpected audit. It allows you to streamline the compliance process, meet customer SLAs, and create an audit trail.
What’s more, it can help you build new business. According to InfoTrends2, many transactional communications providers are finding growth opportunities in the healthcare and insurance markets specifically because these companies are compliance-driven and need help navigating regulations and ensuring compliance.
A range of cost-effective print and mail processing systems geared to midsize providers are helping Pitney Bowes clients address risk and compliance challenges while building business. Solutions from Pitney Bowes have a wealth of compliance features, such as file-based processing and automatic resynchronization and reprint, built in — not bolted on — and they are designed to work together seamlessly.
Pitney Bowes intelligent print and mail systems with built-in compliance technology can typically help:
- Streamline regulatory compliance without sacrificing productivity or precision.
- Make audits easier and less costly thanks to integrated process integrity, monitoring and reporting features.
- Turn compliance into a growth driver for your business by providing customers with proven compliance capabilities or by specializing in industry compliance expertise.