He who controls the data wins ….
I started to look at content for the upcoming issue of E-Document News and I was not surprised that I ran across yet another article on the demise of the transactional document industry and the impact on print service providers.
I must admit I am a ½ glass full guy but many of these doomsday scenarios and the demise of whole industry or markets is a bit distressing to me as many times the industry or market does not go away, it just looks different.
Let me say this: If you are a print service provider, your best days could still be ahead …. It is up to you, not the post office. Let me share my thoughts.
Let’s make (5) assumptions:
- The amount of transactional data is not going down it is going up
- The need for that transactional data to be communicated/distributed to customers will NEVER go away
- Volume for printed statements and bills will decrease over time (not tomorrow)
- Volume for delivery of electronic documents will increase
- Some applications being done on presses will migrate to digital, so digital print volume will increase
So given that today you process transactional data, print and mail bills and statements using digital print technology I would think:
- In the future you would have more data to process
- That data will have to be distributed
- Some information may need to be mailed, sent via email, text or sent via mobile
- There will be more digital print volume as print quality and costs improve
- There is HUGE opportunity in information and output (not just print)
So what do you need to do?
Think data and specifically think “who controls the data wins”. What print service providers need to be is the keeper of the data. They want to be the ones that process and format the data but also distribute it: print and mail, email, send SMS, text or support whatever new delivery phenomena comes in the future.
Print service providers should be educating themselves on these ancillary technologies and offering them as a service, one that can generate revenue. If you just want to print and mail start figuring out your exit strategy. However if you want a bright future become a distributor of information.
Becoming an information distributor
- Keep abreast of how people communicate
- Get familiar with all the methods of output and the vendors who offer these products
- Spend time keeping up to date on the latest digital print technology
- Invest in yourself and company employees by attending industry events, webcasts, etc.
- Remember “he who controls the data wins”
By the way, I told the folks at Rollsource that their future is bright also
P.S. – Since this is my blog, I will shamelessly say you need to attend the upcoming Xplor Users Conference and Vendor Forum April 16-18 in St. Pete Beach Florida. In one place you can:
- Hear the latest trends and best practices that are driving customer communications
- Meet with the companies who have made this transition and who are happy to share
- Spend time with the vendors who can provide the products to grow your business
- Hear the latest trends presented by the Gartner Group, InfoTrends and Madison Advisors
Visit xplor.org to view a complete agenda and registration options. Or call 813-949-6170
For my blog readers, (PSP’s and end users) if you are interested in attending please email me at firstname.lastname@example.org and I will send you a promotion code to save on registration. First (5) will save big.