Pitney Bowes Offers Valuable Insight to Help Mailers Prepare for Move Update Standard
STAMFORD, Conn., October 23, 2008 - Pitney Bowes Inc. (NYSE:PBI), the world’s leading mailstream technology company, is encouraging mailers to take action now to prepare for new and tighter rules from the U.S. Postal Service that mandate how frequently mailers update their mailing lists. The company is providing lots of valuable information to assist mailers in adapting to the new rules, known as the Move Update Standard.
The Move Update Standard, which goes into effect on November 23, requires all commercial First-Class Mail® and all Standard Mail® mailers to update their customer data within 95 days prior to the date of the mailing, down from 185 days under the current rules, in order to continue to qualify for certain postal discounts. Specifically, mailers will be required to use a USPS®-approved solution to match address records with customer-filed change-of address (COA) orders received and maintained by the Postal Service.
The new standard is designed to reduce the amount of mail that is either undeliverable or must be forwarded, in order to lower USPS® costs. In 2004, the Postal Service handled almost 10 billion pieces of Undeliverable As Addressed (UAA) mail. Approximately 76 percent of this was move-related address changes and Standard Mail® accounted for 63 percent.
But there are other benefits to adopting the new standards, as well. Poor customer data quality costs U.S. businesses $611 billion a year in postage, printing and staff overhead, according to The Data Warehousing Institute. UAA mail can also result in delayed deliveries, lost opportunities, and customer dissatisfaction.
“The Move Update Standard is critical for helping mailers and the Postal Service overcome the challenges associated with UAA mail,” said Murray Martin, president and chief executive officer, Pitney Bowes Inc. “Compliance is essential, but it also makes good business sense for mailers since UAA mail can significantly impact operational expenses, reaching customers, and the efficiency and productivity of their mailstream.”
To help educate mailers about the Move Update Standard, Pitney Bowes has been hosting seminars, information sessions and Webinars; participating in educational sessions at trade shows; and utilizing direct marketing channels to reach customers. Pitney Bowes also launched a special Web site that offers information, advice and insight on the Move Update Standard. Located at www.pb.com/moveupdateinfo, the site includes Webinars, tips for preparing for the Standard, and information on solutions that can help mailers comply, and improve address quality and deliverability while reducing postage costs.
About Pitney Bowes:
Pitney Bowes is a mailstream technology company that helps organizations manage the flow of information, mail, documents and packages. Our 36,000 employees deliver technology, service and innovation to more than two million customers worldwide. The company was founded in 1920 and annual revenues now total $6.3 billion. More information is available at www.pb.com.
USPS, Standard Mail and First-Class Mail are trademarks owned by the United States Postal Service.