Fortune 500 Investment Company

FCI solution helps an investment company deliver accurate, timely investment materials to 401(k) clients

The client is the largest privately held investment manager in the U.S. with more than $1 trillion in customer assets. A diversified financial services company, our client services corporations, not-for-profit organizations, financial institutions and advisors, as well as millions of individuals worldwide.

With more than 50 years of investment experience, innovation, and professionalism, the client's philosophy of continuous improvement is evidenced by a strong commitment to meet the needs and expectations of all of their customers.

The Challenge

A key tool the client uses to educate and inform its clients is a custom-printed document that provides the specific details of a client's 401(k) plan, including investment options, vesting periods, company-match percentages, and other information.

Historically, the creation of this material was extremely complex, involving two employees, multiple vendors, and countless opportunities for error. The entire process, from creation of the original draft to receipt by the customer, averaged 10 to 15 days and resulted in frequent errors, including errors in the booklet, incomplete shipments, shipments to incorrect addresses, and other costly delays. Since production took so long, orders routinely had to be shipped overnight. Moreover, the fulfillment house had no accurate tracking system and billed based on rough estimates. Not until the FCI solution was in place did the client discover the extent of overcharges.

The Solution

To simplify the system, FCI, working in conjunction with its affiliate Corvus Digital, created a web application to automate development of the booklet. Proofing and ordering are now handled through a special password-protected web site, and print-ready documents are sent directly to FCI, where a print operator receives the file and prints the booklets. An order picker gathers other required materials (fund brochures, calculator wheels, etc.), assembles packets for each of the client's employees, and prepares the package for mailing. Previously, items were often shipped separately, forcing the manual assembly of packets for each employee.

The system developed by FCI has allowed the client to reduce turnaround by 5 to 10 days for production and shipping for the booklet. Automation has improved content accuracy and provides an inventory system that monitors and maintains inventory at the most desirable and cost-effective level. FCI's comprehensive e-Business fulfillment solution provides our client with consistent pre-assembly and distribution of material, while saving the client many thousands of dollars each year in production and mailing costs.

The Result

FCI's comprehensive fulfillment solution has reduced the turnaround time of the client's orders by 50 percent and reduced the number of overnight packages by 80 percent. Through the implementation of FCI's fulfillment solution, the client has streamlined their processes, eliminated errors and delays, and dramatically reduced production and fulfillment costs.

*Under the terms of engagement with our client, Fulfillment Concepts, Inc. adheres to the client's policy that restricts the disclosure of competitive processes or use of the brand identity of the client or any of the client's products by any entity other than the client.