Long-Standing Partnership Enables Vendor Consolidation and Business Evolution | Financial Services

8/8/2022 RRD

Client delegates non-core business functions, experiences cost reductions, process optimization, and compliance improvements 

CHALLENGE

A 30-year relationship with RRD has supported a leading global financial institution in its pursuit of continuous improvement across a variety of business functions. From internal operations oversight to onsite retail signage management, gaps in efficiency and poor performance provided innumerate opportunities for growth.

Specifically, the brand sought ways to focus solely on core business operations, and entrusted RRD’s industry and business function expertise to help manage and optimize non-core operations. The use of multiple suppliers to handle such processes had proven to be inefficient, resulting in high costs, long lead times, slow fulfillment, and security and compliance weaknesses. Delegating support for these non-core operations would potentially require:

• A forms vendor with best-in-class data sensitivity and privacy standards to optimize the forms process and maximize accuracy and printer throughput
• A commercial printer with an extensive geographic footprint and comprehensive range of capabilities
• An end-to-end partner to manage all facets of retail signage with expeditious and precise results in production, delivery, and installation
• A business communication services partner to manage all aspects of their critical mail programming

SOLUTION

As the client’s business evolved the last few decades, RRD became a trusted partner, working closely alongside client teams in various capacities to fulfill business needs as they arose. First, RRD became their forms supplier, then their commercial print and retail signage provider (currently managing the quarterly installation and take down of all in-store signage for their entire 5,000-branch footprint), and then their business communications services provider.

Since their one-step-at-a-time relationship with RRD was always consultative and conversational — and yielded great results — a trustful relationship developed. A continuation of the established alliance with RRD became a natural approach to overcoming subsequent challenges, particularly related to technology in mail management and important data, privacy and compliance requirements.

The variety and scalability of RRD’s solutions and a willingness to evolve alongside the client — customizing products and services as needed — created a solid, productive relationship. Eliminating dozens of other vendors and utilizing RRD as a primary partner across several business functions helped simplify their external supplier list and consolidate services. 

RESULTS

Throughout this long-standing business relationship, which endured significant evolutions in technology as well as robust client growth via numerous acquisitions and purchases, the client has quadrupled its engagement with RRD across multiple business units. The key to this commitment has been developing an unwavering trust with the client’s key decision makers. As a result, RRD has become their one-stop, go-to vendor-partner.

Thanks to a reduction in personnel hours directed toward non-core operations, the client has a renewed focus on core business functions. Additional wins include:

• 60% reduction in retail signage installation time; streamlining a five-week window into a two-week window
• Reduced signage speed to market from two weeks to three days
• 50% cost reduction in retail services space 
• 30% overall cost reduction for critical mail 
• 300% investment growth over the course of the partnership