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.

This US national mortgage originator is one such client from the financial sector. Read ahead for information on their success story.

Becoming a Top 10 Loan Originator:

How RICOH ProcessDirectorTM and Managed Print and Mail Services Transformed a National Mortgage Provider

Stabilizing and scaling print and mail services for efficiency

When a national mortgage servicer and originator experienced rapid growth through acquisitions, they found their increasing loan servicing requirements exposed critical inefficiencies in their mailroom and print operations. Siloed communication development resulting from adding new lines of business led to multiple versions of many documents, leading to an inconsistent customer experience. The chaos caused missed SLAs for processing billing statements, loan modifications, returned checks, customer complaints, and other critical communications by as much as 48 hours on some loans, jeopardizing their reputation and customer relationships.

To mitigate delays, the Ricoh team transitioned document production to a new composition platform, reducing 1000 templates to about 20 that could be easily customized. The new Letter Communication Department enables coordinated brand management and efficient customer communication. RICOH ProcessDirector was added to streamline the workflow, including the addition of an approval step in their workflow prior to batch printing. RICOH ProcessDirector also enabled full chain of custody tracking

While the loan portfolio increased by 50%, Ricoh enabled workflow efficiencies that reduced the servicing costs with streamlined document production, smarter mail handling and use of USPS presort discounts, workflow automation, and reduced labor requirements. The 35% reduction in servicing costs was essential to improve customer satisfaction while also driving loan servicing margins. Now that Ricoh can anticipate their needs, they have signed on for fleet management from courier duties, check processing, document preparation, and imaging in addition to management of the mail room, onsite print center, imaging, return mail as a service, critical communications, and teams handling offshore and indexing staff, courier services, and Ricoh MFP fleet management.

Customer Benefits

For this National Mortgage Originator, the result is more efficiency and customer satisfaction through:

  • Reduced loan servicing costs 35% on a 50% larger loan portfolio
  • On time loan servicing
  • Automated approval process added to end-to-end workflow using via RICOH ProcessDirector
  • Met SLAs for 24 & 48-hour windows
  • Reduced managed templates from 1000 to 20
  • Reduced postage costs leveraging mail presort discounts ▪ Scalable, stabilized mail and print service fulfillment with full chain of custody tracking for fulfillment of roughly 4 million statements monthly