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Gaining a Clear Path to Improve Print Operations at Scale | Financial Services

Pen with business report and calculator on financial advisor desk.

RRD provides vivid picture of gaps in efficiency and recommends effective next steps for optimization 

CHALLENGE

A leading financial company needed to outsource in-house print, fulfillment, and distribution operations. Their tremendous growth was creating stress on the traditional print and mail processes, and clients also preferred more personalized communications.

Multiple ad hoc processes, diverse technical requirements, high costs for technology and equipment upgrades, and high levels of manual intervention were causing production bottlenecks and barriers. To effectively scale the operation and reduce overall costs, they would need an experienced partner.  

SOLUTION

RRD consultants analyzed the entire client communications process and provided recommendations for improvement at every stage of the supply chain. The team evaluated the creative and design processes and examined the production and delivery mechanisms. Next, they calculated benchmarks for total cost of ownership (TCO) and return on investment (ROI). 

RRD conducted a quantitative analysis using historical activity data, supplemented with extensive stakeholder interviews. This research would help the client build a business case that demonstrated the benefits of changing their well-established norms. 

The assessment findings identified cost-saving opportunities and technical innovations that could facilitate a future migration of print communications to digital communications. The findings document became a roadmap for a phased implementation of migrating work from the client’s facilities to RRD facilities. 

The scope of this assessment included:

  • An in-depth analysis of each business unit and their business communication needs
  • Documenting all operational workflows, perceived shortcomings, ongoing improvement initiatives, and stakeholder touchpoints
  • Capturing historical activity data, cost information, and performance metrics to support the quantitative analysis of the internal operation
  • Capturing any billing, reporting, cost allocation, and/or invoicing requirements
  • Creating a technology roadmap showing all the applicable IT systems, data feeds, and user interfaces
  • Evaluating direct and indirect labor costs to capture full activity costs at the internal facility

Subsequently, RRD continued to collaborate with the client, optimizing and transforming their business communications. These efforts further reduced costs, increased the personalization for each communication, and supplemented or replaced printed items with digital.

RESULTS

The assessment findings revealed several inefficiencies worth addressing for long-term, predictable cost savings. The aging technology in place was both insufficient and inefficient, requiring intensive manual intervention to support day-to-day operations. 

Additional opportunities for improvement included the client's:

  • Multiple one-off processes and production configurations
  • Lack of end-to-end visibility of the entire process
  • Daily problems with backorders, compliance, and obsolescence
  • Setup occurring in multiple systems
  • Need for a universal content management system
  • Business continuity challenges

The company adopted RRD’s agile outsourced model and gained many new efficiencies. They recovered control over the communications supply chain, a single view of business operations, and a plan for ongoing operational improvements and improved delivery to customers.