Top Industries that can Benefit from Statement Printing and Outsourcing
If your business is hoping to begin operating more efficiently, then you may want to consider outsourcing certain tasks. Broadly speaking, outsourcing will allow your business to focus on its own areas of specialization and even potentially save on a per-unit basis.
Over the past few years, one of the most commonly utilized outsourcing opportunities for businesses has been statement printing and mailing. Though this is a task that many businesses currently need to do on a regular—even daily—basis, it is also a task that very few businesses legitimately have the capacity to efficiently do on their own.
By outsourcing your statement printing services, your business will likely move much closer to achieving your long-term operational and financial objectives. Even though true success may require you to make some additional changes, any step in an objectively positive direction is certainly one that you should consider taking.
The extent to which your business can benefit by outsourcing your printing and mailing services will depend on the specific nature of the business itself. Naturally, some businesses will have much larger opportunities to improve than others.
In this article, we will briefly examine some of the industries and types of businesses that can benefit from outsourcing these services the most. Generally speaking, the more essential that statement printing and mailing services will be for your business, the more you can stand to benefit from making the choice to outsource.
Businesses that Frequently Engage in Mass-Mailing Campaigns
The primary reason why outsourcing your statement printing and mailing services can actually save you money is the simple fact that—by accessing a company that has superior mailing infrastructure—you can immediately enjoy the benefits of operating on an economy of scale. While the ordinary cost of ink, envelops, paper, and stamps will be quite high for most businesses, outsourced specialists are able to save by making these purchases in bulk.
If your business frequently engages in mass-mailing campaigns (whether advertising, statement, or information based), then connecting with a company that has superior infrastructure will certainly be quite valuable. This principle will be especially true for new businesses that do not necessarily have the capital needed to invest in an industrial printer (as well as other infrastructure features).
Businesses that Issue Regular Monthly Bills
Sticking with the spirit of buying in bulk, it is clear that the more your business needs to print and mail various documents, the more that you can potentially save over time. Naturally, any business that relies on printing and mailing regular monthly bills will want to find ways to make this process more efficient.
There are many companies that need to mail monthly bills because, though their customers are indeed “regulars”, the cost per month can vary tremendously. This is especially true for utility companies such as internet providers, phone companies, and any other company whose charges depend on specific customer usage.
Businesses that Deal with Sensitive Financial and Medical Information
Though the post office itself is generally quite reliable—and has made several efforts to make the delivery of mail more secure—doing all that you can to secure sensitive information will be absolutely essential for establishing long-term relationships. Generally, there are two categories of information that can be considered to be especially sensitive: medical information and financial information.
If your business is involved in the financial sector (banking, investing, insurance, etc.), then it will likely be worth your while to invest in ultra-secure envelopes, statements, and even thermochromatic ink. Similarly, securing medical information—and assuring compatibility with HIPAA standards—will also be quite important. Working with an outsourced partner will make it easier to access the latest security technology. Even if this information is never actually breached, your customers will appreciate your additional level of care.
Businesses that Aspire to Appear More Professional & Traditional
One of the reasons that some businesses choose to continue manually printing and mailing their statements is that, at the very least, this is usually considered to be the more “professional” approach to doing business. This will be especially important for businesses that operate in a more “serious” industry (such as legal) as well as those whose clientele is traditionally of an older age.
The personal touch of a mailed document is something that can really go a long way. Furthermore, having a tangible connection to your company—something that can’t really be achieved via email—may help create a more positive and productive relationship over time. Your business can also have the chance to incorporate various personal features such as your company logo, a watermark, customized envelopes, and various others. Though this approach to relationship building may indeed be a bit old-fashioned, it is certainly something that is not yet out of date.
Businesses that Want to Give their Clients More Flexibility
Naturally, you may find yourself wondering why your business hasn’t simply switched to digitizing the deliveries of your statements and various other marketing efforts. There are a few reasons why this is likely still the case. Delivering via mail not only offers the personalized benefits mentioned above, but by at least giving your clients the option to choose how they receive your statements, you can demonstrate an additional level of client care.
At the end of the day, there will be some clients that prefer to have their statements delivered via email and some clients that prefer to have their statements delivered through the physical mailing system. The reasons behind these preferences are usually a bit personal, and will likely be related to their specific organizational system. Regardless, instead of making the choice for them, your business will benefit from allowing your clients to make a choice for themselves.
Businesses that Tend to Have “Delinquent” Accounts Receivable
Depending on which industry your business may currently be operating in, collecting your accounts receivable may be a difficult and tiring task. Though issuing statements via mail will not guarantee that you will get paid on time, statistically speaking, you will at least be more likely than you would if only issued statements digitally.
By outsourcing your statement printing and mailing services and working with a reliable partner, you can significantly improve the overall collections process. As time goes on, this will accelerate when your business actually gets paid and, ultimately, will help you pay your own expenses once they are actually due.
There are many different ways that your business can benefit from outsourcing printing and mailing services. The ones that will be most relevant for your business will depend on the specific industry that you are currently operating in. If any of the benefits mentioned above seem as if they are relevant to your industry, then it may be time that you decide to make the switch.