On Jun 9,
Pitney Bowes Inc.
) announced a joint venture with
Broadridge Financial Solutions, Inc.
) to launch
- a novel technology platform. The platform is designed to make the
distribution of documents from companies to clients an efficient
process. However, the news failed to cheer the investors and the
company's shares dipped 1.24% on Jun 10.
Inlet will allow the companies to provide customers with
critical documents like statements and bills from several providers
through a single online platform. The two companies also revealed
that Inlet has already been selected by Jack Henry &
Associates' division, ProfitStars for their payment processing
through iPay Solutions. They will be deploying the platform for
their financial institution clients, 2015 onwards.
Inlet can also enable the document distribution via cloud
storage and online banking sites to facilitate customer needs.
Moreover, the companies will have secured access to critical
insights on consumer behavior using analytics related tools. Apart
from this, the businesses will also be able to modify the
presentation of document at their will while upholding their brand
identity. The platform is further designed to streamline processes
which will significantly benefit the companies by connecting them
to a number of destinations with a large customer base across the
Inlet will integrate all the documents required by the customers
from their preferred channels over the net. Moreover, these
documents can be easily archived and secured for a time period of
up to 7 years.
Inlet's launch into its first phase is marked by content from
sources like Pitney Bowes' Mailstream on Demand solution,
Broadridge's investment solutions and notably FileThis - which is a
secure online service that obtains vital documents from a diverse
set of companies in the U.S.
Inlet is a strategic initiative by Pitney Bowes to create a
niche for itself in the documentation domain. The platform will not
only increase the efficiency and reduce documentation costs but
will also lead to a decrease in paper based documentation, making
it environmentally sustainable.
Pitney Bowes currently holds a Zacks Rank #2 (Buy). Some other
similarly ranked stocks in the sector include
Advent Software, Inc.
) both having the same rank as Pitney Bowes.
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