Rethinking Your Approach to Paperless

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1 Rethinking Your Approach to Paperless For 7 Reasons to Add to Your Multi-channel Offering Matt Swain Director April 1, InfoTrends

2 Industry analyst firm focused on the digital imaging, marketing, and media industries London Munich Boston Tel Aviv Tokyo Shanghai Focused Credible Responsive Visionary

Business Paperless Expectations Always Exceed Gains Sources: The Future of Electronic Bill Presentment & Payment, InfoTrends, 2010 The Emergence of Digital Mailbox Services in

3 Business Paperless Expectations Always Exceed Gains Sources: The Future of Electronic Bill Presentment & Payment, InfoTrends, 2010 The Emergence of Digital Mailbox Services in the U.S., InfoTrends, 2011 The Future of Multi-channel Transactional Communications, InfoTrends, 2013 Annual State of the Customer Communications Market Survey, InfoTrends, 2014

easy enough for customers to use Not providing attractive incentives 39% 29% 29% 24% 23% N = 70 Business respondents

5 Reasons Paperless Adoption Targets are Not Met Why aren t you achieving your paperless adoption targets? Compliance concerns Not easy enough for customers to switch Restricted by regulations in our industry Not easy enough for customers to use Not providing attractive incentives 39% 29% 29% 24% 23% N = 70 Business respondents in the U.S. who are not meeting their paperless adoption targets Source: 2014 Customer Communications Business Survey, InfoTrends, 2014

6 It s More than Print Versus Electronic Supporting customer preferences Improving customer experience

7 Business and Consumer Views on Delivery Business Strategy for Delivery Consumer Preference N = 2,000 Consumers and 250 Business respondents in the U.S. Source: Annual State of the Customer Communications Market Survey, InfoTrends, 2014

Growth Forecast for Email as a Primary Consumer Access Point for Receiving Bills and Statements 25.

8 Growth Forecast for as a Primary Consumer Access Point for Receiving Bills and Statements 25.1% CAGR Millions of Documents Delivered Source: U.S. Customer Communications Delivery Forecast, InfoTrends, 2014

9 A Five Point Summary 1. Bill & statement providers are overly aggressive in their expectations for paper suppression 2. To achieve aggressive paperless adoption rates, providers need to have a transformative approach in place 3. The digital experience for bill & statement management among most consumers remains too complicated 4. as a delivery channel should be considered as part of a provider s multi-channel delivery strategy 5. InfoTrends expects notable growth in consumer access of bills & statements via throughout the forecast period

10 THE MULTI-CHANNEL GAP Traditional Paper Document Online self-serve Typically 15-25% of customer base Typically 10-15% of customer base will be paper free 10

11 THE MULTI-CHANNEL GAP Traditional Paper Document Connected customers who have not gone paperless, but are demanding more choice than current offering Online self-serve Typically 15-25% of customer base 60 75% paperless opportunity gap Typically 10-15% of customer base will be paper free 11

THE MULTI-CHANNEL GAP INDUSTRY RESEARCH Traditional Paper Document Secure Email Attachment Online self-serve Insert image of iphone with Typically

12 THE MULTI-CHANNEL GAP INDUSTRY RESEARCH Traditional Paper Document Secure Attachment Online self-serve Insert image of iphone with Typically 15-25% of customer base COT mobile one-click pay on 60 75% paperless screen with PUSH to Typically 10-15% of customer base will be paper free 12

13 COMMON BUSINESS GOALS FOR PAPERLESS Immediate cost savings Improved customer experience Increased digital engagement Customer choice 13

14 BUSINESS STRATEGIES VS. CUSTOMER DEMANDS

15 STRATEGY FOR CRITICAL COMMUNICATIONS 15

16 HOW CONSUMERS WOULD LIKE TO RECEIVE BILLS & STATEMENTS 45.4% 16

17 MEETS BUSINESS GOALS & CUSTOMER DEMANDS Highest paper turn off rates & fastest ROI Also meets enterprise demand to digitise all communications Immediate cost savings Improved customer experience Least effort to go paperless & receive documents Delivers secure, feature-rich, interactive, personalised documents Increased digital engagement Customer choice Mobile ready: available through any enabled device 17

19 1. Customer experience, immediate econsent

20 1. Customer experience, immediate econsent 2. Cost savings & rapid ROI

21 1. Customer experience, immediate econsent 2. Cost savings & rapid ROI 3. Customer choice (they want it!)

22 1. Customer experience, immediate econsent 2. Cost savings & rapid ROI 4. Mobile ready 3. Customer choice (they want it!)

23 1. Customer experience, immediate econsent 2. Cost savings & rapid ROI 5. Secure, authenticated & feature-rich 4. Mobile ready 3. Customer choice (they want it!)

24 1. Customer experience, immediate econsent 6. Engagement insight 2. Cost savings & rapid ROI 5. Secure, authenticated & feature-rich 4. Mobile ready 3. Customer choice (they want it!)

25 7. Personalized, targeted marketing 1. Customer experience, immediate econsent 6. Engagement insight 2. Cost savings & rapid ROI 5. Secure, authenticated & feature-rich 4. Mobile ready 3. Customer choice (they want it!)

1. Customer experience, immediate econsent WHY CONSUMERS DON T WANT TO GO PAPERLESS Remember multiple usernames & passwords Register on a website Visit a website to get the

26 1. Customer experience, immediate econsent WHY CONSUMERS DON T WANT TO GO PAPERLESS Remember multiple usernames & passwords Register on a website Visit a website to get the electronic copy Source: The future of electronic presentment & payment in North America Infotrends 2010, No customers Remember to pay without receiving a paper bill in the post

27 1. Customer experience, immediate econsent STRIATA ECONSENT PROCESS CLIENT SUCCESSES Barclays Kenya 65% of recipients consent to estatements within 3 months Westcon (B2B client) 62% paperless adoption to date

28 CUSTOMER SUCCESSES 2. Cost savings & rapid ROI STRIATA CLIENTS: COST SAVINGS PER DOCUMENT City of Virginia Beach City of Virginia Beach Positive ROI: 7 months for ebills National Grid Barclays PURE US Fortune 500 Insurer Positive ROI: 4.5 months for epolicies US Gas Distributor Positive ROI: 4 months for ebills 77% City of Tallahassee Positive ROI: 7.5 months for ebills 82% 59% 99% American Water Service Company Positive ROI: 12 months for ebills

Mobile National Grid Successfully migrated 99% of portal users to

Document Online US based Fortune 500 Investment self-serve & Insurance

29 3. Customer choice (they want it!) OFFER MULTI-CHANNEL CHOICE Secure Attachment CLIENT SUCCESSES Mobile National Grid Successfully migrated 99% of portal users to edocument delivery (less than 1% unsubscribed) Traditional Paper Document Online US based Fortune 500 Investment self-serve & Insurance Company 52% of customers with addresses now paperless Close the paperless gap of 60 75% by offering more choice

4. Mobile ready CUSTOMER SUCCESSES City of

payment methods) Consistent support for all user

30 4. Mobile ready CUSTOMER SUCCESSES City of Tallahassee HTML OPTIMIZED FOR CONSISTENT CROSS DEVICE RENDERING 41% of mobile 1-Click payments received within 5 days (Compared to 12% for other payment methods) Consistent support for all user access: across browsers across device types across operating systems

important that email attachments including

31 5. Secure, authenticated & feature-rich SECURITY OPTIONS INDUSTRY RESEARCH Is it important that attachments including information about your account require a password to open?

5. Secure, authenticated & feature-rich SENDER AUTHENTICATION Striata Authenticated SPF records DKIM DMARC Sender Score Certified Personalization

32 5. Secure, authenticated & feature-rich SENDER AUTHENTICATION Striata Authenticated SPF records DKIM DMARC Sender Score Certified Personalization Offline package Digitally signed PDF inbox access Shared Secret / Password Additional in-pdf verification fields available RECIPIENT IDENTIFICATION

33 5. Secure, authenticated & feature-rich Personalized marketing Payment forms & mobile payment Deep links Print ready eacceptance Contact forms esignature Embedded data files Data download Graphs Text / reminders Transaction sorting / dispute

88% of paperless customers are enrolled in recurring payments City of Tallahassee

34 6. Engagement insight Tracking for in-depth customer engagement insight Marketing messages Forms e.g. payment Calls to action CLIENT SUCCESSES Baton Rouge Water 21.88% of paperless customers are enrolled in recurring payments City of Tallahassee Payment rate from within the ebill is 72% Delivery & user activity Delivery confirmation Open rates

35 7. Personalized, targeted marketing PRIME MARKETING REAL-ESTATE: TRANSPROMO CLIENT SUCCESSES Overdue alerts Green Tree Increased website engagement from 59% to 65% in 2014 In body of Baton Rouge Water Time Targeted Loyalty critical 34% website offers engagement rewards in 2013 to 51% in 2014 Barclaycard In secure Include attachments transpromo in both the body & attachment Website traffic Self service (eg history) Customer service Customer support Customer profiling

36 SUCCESS STORIES: STRATEGIES & RESULTS

CUSTOMER CASE: BARCLAYS SITUATION Customers traditionally received paper statements & letters PROBLEM Printing & postage costs are high Delay in document receipt due to slow & unreliable postal

37 CUSTOMER CASE: BARCLAYS SITUATION Customers traditionally received paper statements & letters PROBLEM Printing & postage costs are high Delay in document receipt due to slow & unreliable postal systems in various countries SOLUTION Documents converted into PDF format & encrypted using Striata's 'shared secret' model. Documents delivered directly to customers inboxes as secure attachments RESULT Documents received on average 8 days quicker Document distribution costs reduced by 59% Within 3 months 65% of recipients consented to estatements 37

CUSTOMER CASE: NATIONAL GRID SITUATION Invested in portal solution with 10% adoption rate PROBLEM High cost of printing and posting bills and policies documents Paper turn off vs.

38 CUSTOMER CASE: NATIONAL GRID SITUATION Invested in portal solution with 10% adoption rate PROBLEM High cost of printing and posting bills and policies documents Paper turn off vs. adoption was poor Portal solution was rated as poor customer experience SOLUTION Rolling over all portal sign-ups to bills & policies direct to inbox opt out basis with ebill attached Next phase: econsent (opt in) to all customers with address on file RESULT Document distribution costs reduced by 82% Successfully migrated 99% of portal users (less than 1% unsubscribe rate) 38

39 ABOUT STRIATA

40 POSITIONING 40

41 SOLUTIONS DOCUMENT DELIVERY Secure Documents Bills & Payment Statements Invoices Policies & Notices Credit & Collections Mobile Billing & Payment Customer Correspondence eacceptance esignature ELECTRONIC MESSAGES Transactional Notifications & Alerts Lifecycle Messaging Integrated Response Management Retail Receipts econsent epin SUPPORTING SERVICES Adoption Programs Transpromo Marketing Data Hygiene Data Verification Collection Consulting & Strategic Services Reporting & Analysis Document History Deliverability Solutions 41

42 COMPLEMENTS PORTAL 42

43 WHY OUTSOURCE?

Hard bounce Abuse / feedback loops (AOL, Hotmail, Yahoo) Unsubscribe THE COMPLEXITY OF EMAIL Email address

44 Hard bounce Abuse / feedback loops (AOL, Hotmail, Yahoo) Unsubscribe THE COMPLEXITY OF address verification/cleaning Complex business rules & database segmentation Accreditation (sender score) Authentication Reputation Content filtering ISP 44

45 CLOSING THOUGHTS

46 3 KEY TAKE AWAYS Companies are looking for paper turn-off and digital solutions is key to a successful multi-channel strategy Striata has the technology and experience to ensure your success 46

LET S CONNECT Matt Swain Infotrends - Director www.infotrends.

striata.com michael.wright@striata.com @mikewright uk.linkedin.

47 LET S CONNECT Matt Swain Infotrends - Director blog.infotrends.com Michael Wright Striata - CEO uk.linkedin.com/in/michaelhwright/en 47

48 QUESTIONS

Digital Layer Trends PostalVision 2020

Digital Layer Trends PostalVision 2020 Matt Swain Associate Director June 12, 2012 @SwainfoTrends @InfoTrends #PV2020 2012 InfoTrends www.infotrends.com 1 Comprehensive Research on Customer Communications