With the help of e-billing firm Striata, Sanlam Collective Investments is sending statements and other communication via e-mail, the company says.
Sanlam Collective deals with more than 200 000 investors with funds totalling more than R37 billion, says Aubrey Du Toit, head of client services at Collective Investments.
"This translates into the delivery of thousands of statements per annum," he says. "The adoption of an e-billing strategy saw an almost immediate return on investment based on the reduction of paper and printing costs."
Sanlam Collective's Unit Trust statements are sent in an encrypted and compressed format. "The encryption is to protect the document while in transit over the Internet," says Alison Wright, MD, Striata SA. "Sanlam opted for an additional security measure in the form of a password known only to the recipient. This was implemented to protect the client's confidential investment information."
Sanlam's client service agents have been trained on the application to assist investors with download or related issues.
The initial run of electronic statements equalled 33 000 recipients, with a reporting capability that allows the company to monitor statement delivery and to update investor-specific information when necessary, says Du Toit.
Additionally, a direct marketing campaign, targeting existing investors, allows recipients to top up their investment amounts directly from e-mail, he says.
"In line with Sanlam's 'Thinking Ahead' strategy, we see e-mail statements as one of our most important initiatives going forward," concludes Du Toit.
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