Recently CrawfordTech, in partnership with AIIM, the global community for information professionals, conducted a market survey into customer communications archiving practices. The survey questioned 226 respondents from North America and Western Europe from a range of sectors including government, banking, insurance, telco/media/utilities, and healthcare. The survey provides an insight into the trends affecting customer communication archiving.
AIIM reports “…historical recordkeeping (56%) is the top business driver for outbound communications archiving while legal and regulatory compliance follow closely at 54% and 49% respectively. Historical records, unlike those retained for compliance reasons, hold the value of historical data or reference used for research of client activity, for trend analysis, and other business related research activities.”
It’s interesting to note that many of Crawford Tech’s customers in regulated industries make the business case to archive outbound customer communications on the basis of reduced cost and improved customer service. For example, a 20% reduction in mail volume can save large companies tens of millions of dollars. In addition the drive to deliver self-service portals recognises that consumers prefer to access statements and letters without resorting to a call centre. Self-service portals can actually improve customer satisfaction whilst at the same time lowering the cost of customer service.
The truth is that there is a balance between good business practice and regulatory compliance – the surprise is that in the case of customer communications archiving this represents a win-win.
AIIM’s report is a great place to look at the trends associated with customer correspondence archiving and can be downloaded here.
And look out for our next blog in the “Trends in Customer Communications Archiving” series.
If you haven't read the previous blogs in this series I invite you to read them here: