COMPETITION"TRADITIONAL" There has been a consolidation of the older print/mail providers over the last 10-15 years resulting in stronger providers with a wider breadth of services. (Think Wallace, Moore, Reynolds, Bowne, Vestcom, Lason, ExpressBill, etc.) In addition to "firepower", the larger providers are capable of servicing the client's entire enterprise, enabling more points of contact in the customers "life-cycle" of interactions with the client. In other words, they have the scale to provide CUSTOMER/PATIENT ENGAGEMENT.
These larger providers also have a contingency of highly compensated sales professions that can be supported during the long-sales cycles required for these more sophisticated types of engagements. Even scarier, the larger providers are now more willing (and able) to go-after smaller-sized opportunities that have historically been the exclusive targets of mid to smaller size print/mail providers. Lower technology costs and the lure of taking over customer payments, e-Delivery, etc; put the vast majority of all companies and governmental entities on the larger providers "target list". Check out how competitors approach the market and support "customer engagement" (click on links below): Traditional Pitney Bowes - "Personally Yours" Diversified - good depiction of wide range of services to support "engagement" (They have a Chief Relationship Officer) HOV/Source - great example of a consolidation/aquisition. HOV investment firm purchased SourceCorp this year. HOV started out in call centers, and bought Lason a few years back. Great way to layout services which are significant. Take note of Government. Non-Traditional: Zirmed - One of a growing number of medical software companies that highlights statement production bundled into their services a critical part of their offering. AthenaHealth is a leading cloud provider that is making huge strides in patient experience and communications with their "patient communicator" service. New: ******* NEWSFLASH *********Zumbox launches GovDelivery: Zumbox recently changed its approach to the market. It’s now focusing on large transactional, financial and government mailers for the pick-up it needs. GovDelivery clients include the US Departments of Defense, State, Labor, Transportation, Treasury, Homeland Security, Justice, Health and Human Services, state agencies across 30 states, the cities of Washington, DC, and Minneapolis. Zumbox - friend, foe, or both? Let me find out. |
SEE ADDITIONAL Market Notes Here
NON-TRADITIONAL Convergence of technologies and disciplines have brought new competition from other industries. This is espcially true of medical software billing companies. They, too, are taking a more enterprise-wide approach to their customer base and offering total administrative, accounting, scheduling, and billing features. They are a serious and direct threat to your current portfolio of clients: 1) statements are bundled into offering and there is little or no implementation effort required of the client because templates and programs are already established; 2) Internet Delivery is integrated in the software offering immediate "multi-channel" distribution; 3) Billing statement activity integrated directly into enterpise system- accounting, receivables, and customer service. NEW COMPETITION: The digital world is here and so are digital addresses. The most recent and heralded provider is Zumbox. The concept is gaining traction because it really does make sense. This may be a disruptive technology that all providers should be positioning themselves now. Of note, they have targeted the government sector (see link for Zumbox VP of Marketing and Government Relations) and are making progress in subscriptions. Zumbox is joining other forays into digital mail, most notably Pitney Bowes Volley services. Competitor "Tidbits"A Chief Relationship Officer at a print/mail provider? Yes! They have recognized what their clients are doing and the value of making sure they "engage" their clients as well.
100% Refund, including postage, on EVERY piece of returned mail? Yes! No cost print/mail of statements? Yes. Software companies are offering free services with the purchase of certain modules in their enterprise suite. How do you beat free? |