Financial Printing Outlook -- Clawing Their Way Back
"While financial printing will always face a certain amount of volatility in parallel with market and economic conditions, our transformation makes R.R. Donnelley Financial far less vulnerable to economic and market cycles, and far more able to consistently create shareholder value," he says.
Like Bowne, R.R. Donnelley Financial is also looking for ways to diversify its service offerings. Masterton reveals that his company is looking to move beyond the mutual fund industry to focus on other financial services segments, such as banking and insurance, which have tremendous communications needs and opportunities. Donnelley is also introducing a service offering around direct marketing campaigns, where it can solve marketing challenges that are unique to the financial services industry.
"Here, print is one part of an integrated delivery chain that could also include communications strategy, data analysis, targeting and testing, content development and management, delivery, tracking and measurement, as well as evaluation and refinement," Masterton explains.
On its customized communications solutions end, Donnelley is focusing on aligning its capabilities with clients' needs for efficiency. In doing this, they see clear growth opportunities. "Customers, just like us, are facing pricing pressures—the need to cut costs, improve efficiencies and raise service levels to their customers," he adds. "We are focusing on delivering communications solutions, identifying ways to eliminate redundancy, and improve the time necessary to get communications created and delivered. By combining process expertise with customized solutions and service delivery, we are making our clients' communications both more efficient and more effective," he says.
Although it has been a rough year for the financial printing sector, R.R. Donnelley Financial did have something to celebrate earlier this year—the return to Lower Manhattan. "Ten months after the collapse of the World Trade Center, clients returned to our 75 Park Place facility—adjacent to Ground Zero—which houses our client services center, the only financial printing plant in Manhattan and the headquarters for R.R. Donnelley Financial," states Masterton.