Barclays Bank subsidiary The Woolwich claims it is saving £2 million a year by outsourcing its document-based customer communications to edotech.
The Woolwich outsourced its statement production to edotech in 2001 and estimates total saving of £10 million over the lifetime of the five year contract. The bank also made an additional one-off saving of £260,000 in 2003 by consolidating its mailings to financial regulators.
The bank previously produced a percentage of its statements in-house and outsourced the remainder to a standard print and mail provider.
Andy Howells, service performance manager, The Woolwich, says new practices were adopted which made it possible to provide customers with an integrated statement offering: "We can now use the customer statements as the trigger for additional information, where previously we would have sent the customer a stand alone letter."
The bank was also able to include extra wording on the reverse of the statements, resulting in reductions in expensive one-off communications such as those needed for changes to the banking code or card usage.
Edotech was formerly the in-house document services provider for The Woolwich parent company Barclays Group.