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70% Reduction in Cycle Time Achieved by Forms/Print Review

		Related Service Offerings
		·  Process Reengineering ·  Sourcing Support
		Related Areas of Expertise
		·  Procurement and Purchasing ·  Forms and Document Management
		EMS Can Help You...
		·  Increase Efficiency and Effectiveness ·  Cut Cycle Times ·  Optimize Your Processes

Overview: 

This company’s automation of forms/print creation, management and ordering cut order cycle time by 70 percent.  Consolidation of management and production under a single master vendor nationwide guaranteed 24 percent reduction in costs over the term of the contract.

Client: 

The fourth largest variable annuity company in the nation, this company markets retirement planning and wealth protection solutions, such as annuities and life insurance, through strategic partnerships with financial planners, broker/dealers, stockbrokers and banks. 

Challenge:

Expense Management Solutions (EMS) was initially hired to complete a full assessment of the procurement opportunities available within this organization.  As part of the initial assessment, EMS identified significant opportunities within the forms/print management function.  As a result of multiple acquisitions, a geographically dispersed agency base, decentralized forms/print management and multiple storage facilities, the client was faced with antiquated inventory management systems, significant excess, obsolete print inventory, no control over the ordering, approval or product destruction processes, and multiple “preferred” print vendors.  In addition, there were no systems in place to accurately track spend by commodity, therefore it was difficult to pinpoint the exact spend associated with forms and commercial print. 

Solution:

• Conduct a comprehensive business reengineering of the forms and print management function. 
• Identified potential national print vendors 
• Redesigned the forms process 
• Evaluate technology solutions for management of forms, including art repository and tracking; and  solicited bids for comprehensive forms and print production and management. 

Results:

• Forms/print creation, management and ordering were fully automated, reducing the cycle time for a  new form by 70 percent.
• Increasing version control and minimized obsolescence through extensive use of print-on-demand  where appropriate. 
• Consolidated management and production under a single master vendor nationwide, which expedited  product delivery significantly, eliminated the middleman and improved quality and consistenc.
• Generated a guaranteed 24 percent reduction in costs over the term of the contract.