Large and small organizations supporting in-plant operations often find that a combination of their efficiency and changing output needs leads them to re-imagine the way they fulfill their needs. Leveraging print and mail management services can achieve cost savings up to 30% according to The Print and Mail Outsourcing Opportunity (2022). The path to those savings begins with optimizing workflows and reducing material waste. The other advantage is the ability to consolidate print volumes with automated workflows that can improves print and mail turnaround times by 50% or more according to NAPCO’s 2022 Commercial Printers Industry Survey.

The growing interest in Print and Mail Management Services is evident in the steady market growth. Grand View Research forecasts a 6.1% growth through 2027 because organizations that adopt the approach report improved output management agility and increased customer satisfaction. Ricoh finds that 72% of businesses employing print and mail management services report increased customer satisfaction due to improved accuracy, timeliness, and tracking visibility. Transparent order tracking and efficient fulfillment strengthens customer relationships and builds trust.

There is also the environmental impact of consolidation with a services partner. A Ricoh partner noted that using sustainable practices and green technologies within print and mail management programs can reduce carbon footprint by up to 30%. As more clients require sustainability statements, companies that adopt a managed services approach can cite minimized paper waste and resource consumption, contributing to environmental responsibility.

For organizations considering a move to print and mail managed services, Ricoh provides a global network of production and fulfillment centers, offering scalability and geographic reach for clients. They leverage their expertise in data security and compliance, ensuring confidential information protection throughout the print and mail process, and by investing their corporate resources in innovative technologies like AI and cloud solutions, Ricoh offers their clients cutting-edge print and mail management solutions.

KeyBank is one such client from the financial sector. Read ahead for information on their success story.

Keybank Realizes $250K Annual Savings with RICOH ProcessDirectorTM and Managed Print and Mail Services

Enhancing customer satisfaction by leveraging managed print and mail services for efficiency

KeyBank is among the largest banks in the United States, holding ~$135 million in assets and servicing around three million clients. With a history spanning more than 190 years, KeyBank has established a reputation for reliability and innovation. Their customer-focused approach has helped position them as a beacon of innovation and customer service known for their communication initiatives; changing consumer requirements left their highly efficient in-house print facility running at a tenth of its capacity. With a solid lease on a 55,000 square foot facility, they knew their approach to meeting statement printing, return mail management, and reporting needed re-imagining.

The table stakes included their responsibilities to clients to provide their regulated communication in their preferred format. Many still prefer print or both print and edelivery. In addition to partnering with Ricoh Print and Mail Management Services, KeyBank needed to find a new path to tie its workflows together. Adopting RICOH ProcessDirector marked a new chapter in KeyBank’s operational excellence. RICOH ProcessDirector’s introduction into the workflow epitomized modernization, significantly reducing print and mail costs.

With RICOH ProcessDirector’s state-of-the-art technology, KeyBank’s print, mail, and fulfillment services were not just maintained but elevated. The technology boosted operator productivity, fortified process integrity, minimized human error, and slashed costs. All the while, it exceeded expectations in risk management, loss prevention, and data security, addressing any initial concerns with a robust and secure data hand-off process.

The collaboration showcases KeyBank’s commitment to progress and customer-centricity, turning potential obstacles into stepping stones for greater efficiency and service excellence.

Customer Benefits

  • For KeyBank the result is more efficiency and customer satisfaction including:
  • $250K annual projected savings
  • Timely, error-free, and compliant statement management process
  • Service Level Agreements (SLAs) met from first day of transition
  • Zero impact on clients or bank data
  • Additional 3-4% postage savings