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Pitney Bowes Strategies for Growth Presented at Meeting of Financial Analysts
Company is transforming itself to maximize value to shareholders, customers
Michael J. Critelli, chairman and CEO of Pitney Bowes Inc. (NYSE: PBI) presented the company's plans to take advantage of $250 billion in opportunities that it has identified in the combined mail and document streams worldwide, during a meeting of financial analysts in New York City today.Critelli mentioned that the company plans to grow its two percent share in these markets in four ways:
* Expanding its presence into other strategic segments of the mail
stream;
* Providing a broader array of solutions and services for document
management;
* Increasing its global presence, and;
* Selling more of its products and services to existing customers,
particularly at the high end.
He also mentioned that the company needed to transform to enable itself to
leverage the opportunities in each of these areas.
"During visits with many of my peers over the past seven years, they have told me, without exception, that constant communication with their customers is essential. Yet, they routinely underestimate the costs, while feeling that they are not reaping the maximum benefits from their investments," Critelli said, adding, "Our growth strategies are based on the tremendous opportunities from all of this unmanaged communications activity, and it is my vision that whenever any organization thinks about getting the most out of their investments in mail and documents, the first company that comes to mind is Pitney Bowes."
Critelli emphasized that the company's strategic transformation was based as much on what it should continue to do, as well as knowing what needed to change. "We will continue to take a variety of actions to enhance our core business in which we are already market leaders, because we recognize that in difficult economic times, some of our best growth opportunities are closest to home." He cited that the fundamentals of the company's success to date included "a passion to help organizations of all sizes communicate as effectively as possible, exceptional technology and know-how in physical and electronic mail and document management, a powerful connection with its global customer base via direct sales and services, and on-site, near-site and off-site business services, an engaged work force, and a reputation as a caring, highly ethical company."
Intelligent Mail to play a key role in company's growth
One way Pitney Bowes will expand its participation in the overall mail stream is by focusing on intelligent mail. The basic concept of intelligent mail is that each mail piece is uniquely identified and can be traced from creation to final delivery and when appropriate, upon return. Critelli mentioned that successful implementation of intelligent mail will provide a variety of new revenue opportunities through increased digital mailing system demand, information-based value-added services, and multi-carrier distribution solutions, to name a few.
"The intelligence that we add on the outside, inside and throughout a mail piece's journey will also strengthen our relationships with posts, who are looking for information to help them reduce costs, optimize operational efficiencies and develop new revenue-bearing services," Critelli stated. Pitney Bowes is also providing expert testimony on intelligent mail at the President's Commission on the U.S. Postal Service today in Austin, Texas.
Beyond intelligent mail, each of the company's senior vice presidents outlined key growth initiatives such as: PSI work sharing operations; document lifecycle management; and postage and carrier payment financing.
Pitney Bowes recently launched an integrated marketing campaign -- the first such campaign in its history -- to re-define its brand and help raise visibility among the senior management of the world's largest enterprises. The campaign, which Critelli referred to as a strategic necessity for future growth, will use a variety of marketing strategies such as advertising, direct mail and the website.
Pitney Bowes is the world's leading provider of integrated mail and document management systems, services and solutions. The $4.4 billion company helps organizations of all sizes engineer the flow of communication to reduce costs and increase impact, and enhance customer relationships. The company's 80-plus years of technological leadership has produced many major innovations in the mailing industry and more than 3,500 active patents with applications in a variety of markets, including printing, shipping, encryption, and financial services. With approximately 33,000 employees worldwide, Pitney Bowes serves more than 2 million businesses through direct and dealer operations. More information on the company is available at www.pb.com.
Contact:
Chris Tessier
Media Relations Manager
(203) 351-7210
christopher.tessier@pb.com
SOURCE Pitney Bowes Inc.
CONTACT: Chris Tessier, Media Relations Manager, +1-203-351-7210,
christopher.tessier@pb.com, or Charles McBride, Exec. Director, Investor
Relations, +1-203-351-6349, charles.mcbride@pb.com, both of Pitney Bowes Inc.
URL: http://www.pitneybowes.com
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