Océ Business Services Helps Organizations Leverage Mail Management Best Practices for Important Advantages

<p>NEW YORK, N.Y. (August 30, 2011) – Respondents to a document management industry survey sponsored by Océ Business Services indicated that mail and shipping best practices can yield several important business benefits. One is reducing costs. According to industry estimates two percent of all mail is returned and the total cost of re-mail is $3 per mail piece. The need to update mailing lists is a constant challenge because about 17 percent of consumers and businesses move every year. </p> <p>Another benefit is enhancing regulatory compliance in order to reduce risk. Océ highlights the following example of how a company implemented a strategy to enhance compliance by more efficiently processing high volumes of returned mail. </p> <p><u>Enhancing Compliance</u></p> <p>A financial services company recently acquired another company that provides credit card services. As a result of the acquisition, the financial services company was required to notify credit card holders of the acquisition and specify any changes to existing account terms, privacy rules and other issues. Soon after its first round of notifications, which totaled approximately one million, the company received roughly 188,000 pieces of returned mail. </p> <!--break--> <p>Because it was not prepared to efficiently process the large amount of returns, which includes extracting key customer account and address information, the company tapped Océ Business Services to manage the project. </p> <p>The solution comprised the financial services company sending the contents of the envelopes in a scan-ready state to Océ's eastern regional imaging center, where Océ scanned the documents. Océ deployed optical character recognition (OCR) technology to extract two key data fields – name/address and account number – into an Excel spreadsheet that was sent to the client. This spreadsheet provided the client with the supporting information it needed to establish that the company was in compliance with the customer account mailing. </p> <p>Océ completed the return mail processing in five days, much faster than the financial services company could have accomplished. Based on those results, the client called upon Océ to manage a similar process for a larger account notification mailing, which resulted in 400,000 pieces of returned mail. This time, however, the company had Océ manage the entire process. Océ received and opened the envelopes; date stamped, scanned and applied OCR technology to the documents, and then provided the client with CDs containing the document images in PDF format. Once again, the client quickly had the back-up it needed to prove compliance in mailing notifications to over 2.5 million accounts. </p> <p><u>Companies face Similar Challenges</u></p> <p>Like the financial services companies, many organizations face similar challenges and could benefit from professional expertise to help them meet these challenges. Below are five questions offered by Océ Business Services that can help companies determine whether they might leverage additional expertise to help process return mail. </p> <ol> <li>Does our company send large mailings to its customers? </li> <li>Do we see large amounts of return mail in our mailroom? </li> <li>What happens to the return mail? </li> <li>Is there an opportunity to contain costs by updating our mailing addresses to diminish the volume of return mail? </li> <li>Does our company need to establish proof of its compliance with customer account notification mailing(s)? </li> </ol> For further information on mail management topics, visit www.ocesolutions.com.