NEW YORK, April 7, 2003 -- Bowne Enterprise Solutions (BES), a leader in digital printing and electronic delivery of personalized communications, today announced the launch of its client-centric communications strategy designed to help financial services companies target specific investor groups and match their individual financial situations with different levels of customized and personalized communications.
BES President Robert J. Baker, in making the announcement, said the strategy helps financial firms streamline their operations, while strengthening customer relationships. This can help them to boost sales and assets under management from their most profitable clients. It also increases customer loyalty and drives greater sales penetration of targeted customer segments. BES is a core business unit of Bowne & Co., Inc., a global leader in delivering high-value document management solutions.
The BES approach helps firms to maximize their investment in client communications by using different levels of personalization - one-to-one, a segment of clients or a mass audience -- to address different types of sales challenges. As a result, the strategy is helping BES clients focus on reducing their cost per sale, rather than the conventional marketplace approach of focusing on the cost per document. While the initiative is concentrating primarily on financial services, it is also applicable to other industries, such as healthcare and pharmaceuticals, where delivering targeted, personalized information is critical.
Supporting client-centric communications is a broad array of BES solutions and services, including Documents on Demand, Documents Direct, Print on-Demand, digital and offset printing, and fulfillment, all backed by Bowne's longstanding reputation for superior client service, especially to the financial services industry. (For more information on these products and services, please visit www.bowne.com/entsolutions.) Unlike many of its competitors, BES already possesses the key services for this emerging marketplace and has not had to form alliances or make acquisitions to deliver the specialized solutions that financial firms require.
"In demanding times like these, financial services companies need to get the most out of every marketing dollar by delivering to current and potential clients the right degree of customized and personalized information and follow-up to make the sale," Baker said. "BES is demonstrating that client-centric communications can deliver process efficiencies, increase investor retention, enhance brand value, maximize cross-product selling opportunities and ultimately bring these firms a higher return on their communications investment." He added that BES is demonstrating the features of client-centric communications in New York from April 7 through April 9 at Booth 3357 of the ON DEMAND Digital Printing and Publishing Strategy Conference and Exposition.
Baker noted that BES' client-centric communications is also changing the landscape for individual investors, long accustomed to receiving thick packets of general information when they inquire about certain investment products.
"For example," Baker said, "if you are an individual investor at the receiving end of client-centric communications, you no longer have to get the same investment product information that normally goes to everyone else. Within a day of your inquiry, a financial services company -- using BES' solutions -- can deliver to you a concise, personalized, digitally printed brochure that matches the details of certain investment products to your individual situation and needs. At the same time, an electronic copy of this brochure, as well as tracking information, goes to the company salesperson so he or she can contact you at the appropriate time and answer your questions. Based on the targeted, personalized information you receive and the opportunity for you to get answers quickly, you can make a rapid and highly informed decision as to whether this particular investment is right for you. You thus find an investment that's a perfect fit and the financial services company makes the sale."
BES' Documents on Demand, Version 3.0 is a key service behind client-centric communications. This new, enhanced version of Documents on Demand is a full digital document creation, production and delivery solution accessible online so that financial services companies can rapidly assemble customized and personalized content and graphics. Version 3.0 contains a "wizard," a tool that can be used to streamline document creation. This version also features a client interface that offers ease of use and more flexibility in editing text, and it integrates with BES' Print on-Demand solution so that firms can deliver a tailored, perfect-bound booklet or brochure directly to their clients.
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