How Banks Can Reduce Courier Costs
While many documents needed by banks and credit unions have become digital, there’s still necessary paperwork that has to be moved between branches and processing centers. These include various forms and reports, checks, loan documentation, human resource documents, deposits, ledgers and statements. Banks must continually look for ways to reduce costs and widen their profit margins. An analysis of document delivery costs could lead to valuable savings, even by making a few simple changes. Bank managers should consider these options to reduce their courier costs:
If your company employs staff whose only job, or even part of their job, is to deliver paperwork to various locations, you could save money by redirecting job duties, cutting salary, benefit and vehicle costs. This saves time and resources and gets your employees back into the office where they are more needed.
If possible, decrease the number of days your paperwork is picked up. Try sending out paperwork two or three days a week instead of five.
Adjusting pickup times or modifying a route could lead to fuel and time savings. It’s important to understand traffic patterns in your area as well as the impact reorganizing stops may have. In some cases, starting your pickups in more congested areas and heading against incoming traffic flows may make the most sense. Driver tracking data can help with this. Most courier services offer driver tracking and will share this information, or even optimize routes for you.
Make sure your deliveries are getting to the right places at the right times. Delivery verification allows you to see that your items got to their intended destination safely. This can help cut down on possible penalties for sending things to the wrong address, which can be costly. The best courier services offer delivery verification as part of their standard service. This could be using bar-code scanning, photo verification or required signature.
Express Courier works with banks, credit unions and other financial institutions offering secure delivery of sensitive documents by drivers who are vetted, trained and in uniform. We also provide interoffice mail delivery, post office mail service pickup and drop-off, payroll delivery and more.
Read our case study to learn how we’ve helped banks.