Pitney Bowes 2010 Annual Report Download - page 4

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2 Pitney Bowes Annual Report 2010
Fellow Shareholders:
This was an especially productive year for our company. We solidifi ed our growth strategies
and completed the work of identifying our most attractive market opportunities. Our continuing
transformation of Pitney Bowes into a leaner, more focused company began to produce the desired
results. We far surpassed our goals for reducing the company’s overall cost structure, which enabled
us to make strategic investments in the business. Revenue trends improved in the third and fourth
quarters, and we expect a return to growth in 2011. We also launched a number of groundbreaking
products, including Volly,™ a secure digital delivery service that reinvents the way businesses and
consumers interact with each other.
After a rigorous analysis of our most attractive growth opportunities, we are sharpening our focus on
customer communications management (CCM), a $54 billion market where our expertise in physical
and digital communications and the credibility of our brand give us special advantages. In addition,
CCM gives us plenty of room to grow beyond our core business, because it encompasses much more
than physical mail.
Businesses today face incredible challenges in communicating with their customers and prospects.
First, they must be able to create personalized communications that get the attention of their audience.
Second, they must have the technological expertise to be able to coordinate multiple communication
channels, so they can use whichever ones prove most effective with a particular audience. Finally,
they must be able to do all this while getting the greatest possible return on their investment.
Murray D. Martin
Chairman, President and
Chief Executive Officer
close-knit family
enjoys heli-skiing
loves technology
hockey fan
advocate for those in need
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