Transactional Printing and Mailing
It is very quick and convenient for companies to send out email confirmations. Most businesses are used to emailing their customers and prospects about everything from order confirmations to invoices. However, we cannot ignore the fact that sending invoices, bills, and confirmations in the mail is far more effective than email. Between all the digital chaos, emails are likely to be ignored and never opened. Anything in the mail seems more important than an email. Large-scale transactions also demand a physical order confirmation and invoice. This paper format builds trust and confidence among people. Now that we are talking about sending invoices, statements, and similar documents in the mail, you should know that it is referred to as transactional mail. Let us find more about it below transactional printing and mailing.
What Is Transactional Printing?
Basically, transactional printing is drafting and printing transactional documents like collection notices, debt reminders, account statements, invoices, etc. Unlike other mail, transactional mail is based completely on customer data and has an official purpose. It is sent to existing customers in regards to one or more transactions. Due to the personal details mentioned in transactional mail, it demands a high level of security and accuracy. Hence, it is advisable to outsource your transactional print and mail activities to transactional printing companies that are experts in the field and can handle everything excellently.
With the rise of the banking and insurance sector, sending financial communications in the mail became common. From government notices to retirement portfolios, today, people get maximum financial correspondence in paper format. Though digital communication channels like email are also popularly used, they could never overpower mail. Hence, transactional print and mail have been popular for a long time. Some people also call transactional printing statement printing or service printing.
Usually, the format of all prints is kept the same, while personalized details are pulled from a system for digital printing onto that format. Without the assistance of transactional print and mail services like PostGrid, it can be difficult and time-consuming to produce and distribute such mail, especially if the company needs to do it on a regular basis.
Examples of Transactional Printing and Mailing
Although many companies use transactional mail to communicate about financial operations, it is also widely used for communicating legal updates, changes in policies, and order confirmations. Find below the most commonly used types of transactional mail.
An invoice is sent to customers after a financial transaction takes place. It creates an obligation to pay. Invoices contain all the details about a certain transaction like the date of transaction, amount details, payment terms, particulars, and so on. Invoices are majorly used by companies that sell on credit.
Account statements are summaries of all the transactions made during a period of time with a specific account. Credit card bills and checking account statements are popular examples of account statements. Account statements make it easy for businesses and their customers to track transactions and financial activities. They give a consolidated view of the debits and credits.
Explanation of Benefits
A mail consisting of an ‘explanation of benefits’ can help customers better understand certain plans and policies. This type of transactional mail is usually sent by insurance providers and credit institutions.
Policy Updates or Terms of Service
Your customers are likely to ignore your email notifications, which is why you need to find other ways to reach out to them with important information. Sending mail items with recent policy updates or terms of service enables companies to bring the necessary information to the attention of their customers.
Purchase Receipts or Order Confirmations
Purchase receipts are given to customers as proof of purchase. They are usually printed and mailed out when the order is placed, and it is likely to take a lot of time to get completed. These order confirmations are a way to confirm the deal between two parties and allows the seller to proceed with sending the goods to the buyer.
Transactional printing and mailing companies like PostGrid can help you draft, print, and mail any type of transactional mail easily, efficiently, and quickly.
How Can Transactional Printing Companies Help You?
If you are wondering how the transactional printing industry works and how they can be of any assistance to you, keep reading below about all the services that are provided by traditional printing companies. They can help you print all your transactional mail items in high quality and with no manual effort. Transactional messages are required to be sent out by all companies, but many hesitate to outsource their work. They rather invest in expensive printing equipment, hire designers, pay costly postage, and go about doing everything in the most expensive way. However, a little knowledge about transactional print and mail services and transactional printing companies can help them cut down expenses significantly and carry on with their print and mail activities with efficiency.
Transactional marketing is conducted when businesses print and mail marketing messages along with their transactional mail. It is similar to getting two things done at the same time. Often referred to as “transpromo,” meaning transpromotional printing, it is a method of combining necessary transactional messages with marketing materials. The main motive behind transactional marketing is to cross-sell or up-sell products and services. For instance, sending a coupon for 20% off on a purchase with an invoice can lead customers to either purchase from you again or upgrade their ongoing service. You can also include an onsert (a separate advertisement) printed right on your transactional mailer.
If you are ready to outsource, transactional mailing services can assist you in conducting transactional marketing effortlessly. This way, you can save money on marketing. Today, automation and personalization has made transactional marketing easier, and you can achieve your desired objectives easily by using the help of transactional printing companies like PostGrid.
No matter what type of transactional mail you need to send, make sure that your topmost priority is security. Transactional mail includes confidential customer data and needs to be dealt with carefully and responsibly. Hence, choose transactional print and mail services like PostGrid that are compliant with HIPAA, PIPEDA, SOC-1, and SOC-2. These transactional printing companies have the relevant experience, automated processing capabilities, and ability to protect customer data. There are a lot of regulatory concerns regarding direct transactional mailing. Businesses might not have the knowledge, resources, and workforce to execute transactional printing accurately. At this point, transactional printing companies can help you get there.
Sectors like finance and healthcare are highly regulated, which pushes institutions in these sectors to maintain a safe and compliant print and mail environment. Transactional mail printers can help you with completion, security, and compliance altogether. Any data breach can cost a lot of money and tarnish the reputation of any business. PostGrid’s print and mail API enables companies to send transactional mail to their customers with complete security and adherence to all the necessary federal laws of the United States.
Several technological advancements have taken place in the transactional printing market. Dryer technology, inkjet printing, and envelope printing have all resulted in high-quality transactional printing capabilities. Envelope printing needs to go hand-in-hand with mail printing. Adding variable data for envelope printing is now easy and quick with transactional printing companies. They allow you to print in an excellent quality that keeps up to the quality of the mail item.
Incorporating Latest Technology
Even though paperless billing and digital communications are booming, transactional mail still stands strong on the top of the list of transactional communication channels. Hence, it makes sense to combine offline and online technologies to build a better print and mail network. Digital color printing is one of the best examples of how digital technology is being used for enhancing the quality of your transactional mail.
Increased use of variable data and colored pages are also associated with incorporating the latest technology to print transaction documents. All statement processing companies like PostGrid can help you use the latest technological trends to make your transactional printing activities better and cost-effective.
Companies can opt to include QR codes, pURLs, and coupon codes to drive their customers to their websites, applications, and social media handles. This way, they can communicate their transactional messaging along with increasing online visibility.
Transactional Mail Designing
Transactional mail designing includes everything from helping you select a template to get all your customer details inserted rightly. PostGrid offers a number of pre-built templates that are professionally designed and ready to use. You can get suitable templates for every type of transactional mail. Certain customizations are also possible. Furthermore, after integration with your system, the API can fetch data speedily and fill in all the columns of your mail piece in a matter of seconds. You need not hire designers and specialists to do these tasks for you. A transactional printing company can handle your designing needs perfectly and without you having to do anything manually. The best part is that the designing rates are all included in the final cost, reducing the per-piece cost and helping you get rid of paying to separate vendors for separate jobs.
Print and Mail
Companies offering transactional printing services usually collaborate with digital color printers having high-speed technology and good quality inks. They can help you select the right type of paper stock for your invoices and notices. These printers are experts in the transactional printing industry, which means that they can guide you on how to prevent mail damage and also how to print eye-catching mail items. PostGrid’s print and mail API allows you to avoid stocking inventory, purchasing printers, and other necessary equipment, and spending hours to load papers and fold envelopes.
Let us get on mailing; not all transactional printing companies offer mail fulfillment solutions. Fortunately, PostGrid offers print and mail fulfillment and can assist you from start to end. Your transactional mail items will be sent through the USPS, and you can track everything from the dashboard. PostGrid makes sure that your mail items are reached safely and on time.
High-Volume Transactional Printing
One of the top services of transactional printing companies is that they can handle any mail volume. It does not matter whether you send out a few invoices spread over a period of time or send a huge number of mail items consisting of policy changes to your entire customer base at once. PostGrid’s transactional print and mail solutions enable you to conduct transactional printing and distribution altogether. In the most simple words, companies can send out any number of transactional mail items to anyone and at any time.
PostGrid’s solutions for your company are not restricted to a city, state, or country. Given that more and more companies are looking to expand their business globally, transactional mailing services have started providing international mailing along with local and national. Depending on the mailing option, the speed might differ. But, PostGrid’s API can help you mail speedily and at the lowest postal rates possible. It has the capability to translate addresses into the language of the destination country and can mail to around 245 countries around the world. Hence, no matter where you need to print and mail your documents, transactional print and mail services can have it covered.
Integration With CRMs
Be it your CRMs, email marketing systems, customer data platforms, accounting software applications, or other third-party programs. You can integrate them with PostGrid’s print and mail API. This integration can help you import data in just a few minutes so that you can draft your transactional mail pieces and mail them to the right people. Moreover, the integration also cuts down the required time and effort in uploading data files or typing in the details.
24 x 7 Support Team
The technical team of transactional printing companies like PostGrid can help you throughout the day. You can dial the toll-free number and get in touch with a technical expert instantly. Hence, you can be assured that you would get the necessary support and assistance in case you have any doubts, queries, or difficulties while integrating, setting up, and operating.
Record-Keeping and Reporting
All the transactional mail items that you send are easily trackable. Users can log in to their accounts and access the tracking details through the dashboard. Record-keeping hence gets easier and faster. The periodic reports and insights allow you to keep a complete track record of every single mail item. Furthermore, the pURLs and QR codes added to your transactional mail pieces enable you to track performance, which you can view through these reports.
NCOA and CASS Certified Addresses
Avoid mail returns, delays, and misplacement due to undeliverable, incorrect, and invalid addresses. Customer data cleansing and maintenance may be a huge hurdle for companies while conducting transactional printing and mailing. It is difficult to update mailing lists from time to time and not miss out on any changes. Therefore, PostGrid uses NCOA services and CASS-certified addresses to compare and verify your mailing lists. This way, you can continue the statement printing and mailing process without having to worry about its deliverability.
Industries That Need Services of Transactional Printing Companies
PostGrid offers transactional printing and mailing solutions to businesses in all industries, especially the heavily regulated ones. Every company needs to print and mail some or the other type of transactional mail during its course. Some of these companies prefer doing everything in-house. But, they end up wasting a lot of time and spending a lot of money unnecessarily. That is why outsourcing transactional print and mail is a better idea and can help you in more than one way.
Some of the industries that utilize the services of transactional printing companies are:
Banks need to send out bank account statements, credit card bills, policy updates, terms and conditions, collection notices, and more such documents on a regular basis. They need to communicate important messages to their customers in a time-bound manner, and there has to be complete security and accuracy. Hence, today most of the banks in the US contact transactional printing companies to assist them with their everyday print and mail operations.
Insurance providers need to explain various plans and benefits to their customers. Most of it is on paper as evidence of official communication. Insurance companies also need to send out transactional documents like claim forms, explanation of benefits, new policy announcements, and more.
Year-end tax forms, credit card statements, compliance letters, and notices are some common transactional mail items that credit unions print and mail regularly. Therefore, they require print and mail services to handle these tasks.
The healthcare industry is strictly regulated by a number of laws and regulations. It is their duty to protect customer information and assure data security. With the help of transactional mailing services, they can draft, print, and send out medical documents such as test reports, discharge summaries, invoices, and clinical findings.
There are a number of transactional mail items that are printed and mailed by government agencies to individuals, businesses, and other government organizations. These activities need top-level confidentiality, accuracy, efficiency, and security. Therefore, they turn towards transactional printing companies that are experts in these things and can get them done effortlessly.
Businesses in the utility sector also widely use transactional print and mail services to send out bills, statements, and more.
Benefits of Outsourcing Transactional Printing
Quit Equipment Purchases
Quit investing in the purchase of printers, folding and inserting equipment, and other machines. Their purchase costs and annual maintenance costs are both high. Using transactional printing services, you can use the latest technology without any major capital expenditures.
Reduce Additional Manpower
Printing and mailing documents like invoices, receipts, bills, and forms can be extremely labor-intensive. These jobs require a lot of time, effort, and resources. Moreover, if you are sticking to online communication channels, it is likely that you would need a separate call center department to solve customer queries. Transactional mail, however, solves most queries by itself and induces the person to complete the necessary action. Transactional printing companies can help you save time and effort of your employees and also help you deduct call center expenses.
Cut Down On Power Costs
Regularly printing transactional documents can drain up your power budget. Undoubtedly, the process requires a lot of energy and space. It takes up half of your office space and adds up to your electric bills.
PostGrid’s print and mail solutions can help businesses save postal charges considerably. With methods like presorting, bulk mailing, and adding Intelligent Mail Barcodes, companies can receive huge postal discounts that can improve their overall ROI.
Drive Conversions and Repeat Business
Sending transactional mail with marketing messages can help boost responses and encourage repeat business. Transactional printing and mailing companies can help you send transpromo mail items effortlessly.
Avoid Stocking Inventory
By using the services of transactional printing companies, you can avoid stocking inventory like inks, toners, stamps, paper stock, envelopes, and more. Your costing no longer depends on such perishables.
Other benefits include:
- Compliance with government regulations
- Stabilizing and improving cash flow
- Avoiding commitments or long-term leases
- Creating compelling documents
- Reducing risks of the data breach
- Cross-selling and improving brand image
If you are in the phase of selecting from among several transactional printing companies, make sure to pay attention to every detail, such as their API integration capabilities, minimum volume requirements, mail tracking options, and more. Mostly, these services are required for the long term, so you need to be assured that you are getting all the required benefits and features. Not all companies offer a complete print and mail cycle. So, you need to check up on such things.
Only huge corporations can afford to keep their print and mail transactions in-house, as their volume can match up with their capital expenses. However, keeping the budget aside, companies need to possess the time, knowledge, and expertise to print transactional mail efficiently. Hence, businesses of all sizes and industries can rely on transactional printing companies like PostGrid to print and mail all their transactional documents without any time, security, speed, or accuracy concerns.
In 2021, direct mail marketing offers a one-to-one communication channel for businesses to get in touch with their customers and prospects.
PostGrid’s print and mail solutions allow businesses to make great use of one of the best marketing channels – direct mail marketing. It provides direct mail automation solutions to print and mail letters, postcards, and checks securely, accurately, and systematically.