Novitex, the leading North American professional services company in the document outsourcing industry, announced today that it has been awarded a multi-year, multi-million dollar deal to manage the processing of the undelivered as addressed mail (UAA) for a leading financial services company in the United States.

The company has approximately a quarter of a million pieces of undeliverable mail annually, consisting of business-critical documents, ranging from statements to regulatory forms and pricing correspondence. Novitex will transform the company’s UAA process, moving it from a cumbersome, labor-based workflow to one that leverages the document outsourcer’s automated Return Mail solution.

Novitex will manage the UAA mail at MegaCenter West, one of the outsourcer’s secure, cloud-enabled document processing facilities. Utilizing state-of-the-art technology, Novitex will convert the undeliverable pieces into digital files and capture the incorrect addresses. Once digitized, the information will be transferred to the outsourcer’s cloud-based return mail platform, which is integrated with proprietary, postal-certified databases. The platform automatically searches and identifies customers’ correct and/or updated addresses. Before the company’s master record is updated, Novitex will re-mail the original communication along with an address verification form, supporting Dodd-Frank compliance.

With the portal’s robust, real-time reporting capabilities, the company will have full visibility into the workflow and the ability to measure the solution’s effectiveness.

“Returned mail costs an organization on average $3 per piece in operational costs alone. This includes postage, printing, handling, research, re-mailing and other related processes,” said Christine J. Erna, Director of Postal Affairs at Novitex. “Missed collection payments, increased use of more expensive customer service channels and additional labor can drive the real cost to $50 per piece of mail.”

Erna added, “As long as individuals, families and businesses keep moving, selling their homes or changing their names, return mail will always be a problem for businesses. By leveraging a combination of technology, processes and data, however, businesses can begin to reduce spending and risk associated with this issue.”