Xerox Corporation (NYSE:XRX) is helping to reduce the cost of developing and delivering customer communications at Lloyds Banking Group, the U.K.'s largest retail bank.
Using its Communication and Marketing Services, Xerox will work with Lloyds Banking Group to design, print and deliver high-quality, targeted marketing materials that are consistent across the bank's multiple brands.
As Lloyds Banking Group's primary provider of design and printing services, Xerox will transform the bank's document supply chain, eliminate duplication in its business processes, and secure savings in cost and time.
Xerox will print much of the bank's marketing documents on demand, minimizing the need to warehouse marketing inventory. Xerox will be responsible for overseeing the bank's document production process from start to finish, consolidating the work that was previously done by multiple providers and, therefore, reducing costs by simplifying and speeding up the launch and production of Lloyds Banking Group's key marketing campaigns.
Xerox will also meet the bank's requirements for delivering time-critical customer mailings, such as regulatory notices, as well as regular monthly mailings.
"Lloyds Banking Group takes its customer relationships - and its customer communications - as seriously as Xerox does," said Stephen Cronin, president, Xerox Global Document Outsourcing. "With this agreement, the bank joins a growing list of international companies that are turning to Xerox to help lead this important aspect of their businesses while uncovering savings in a place many companies fail to look - the document supply chain. Our collaboration with Lloyds Banking Group and this contract reflect a commitment from both parties to find new ways to drive real business value."