Pitney Bowes 2015 Annual Report Download - page 8

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Pitney Bowes Annual Report 20154
and Production Mail we introduced new product
solutions and oerings such as Relay™ Multi-Channel
Communications Suite (see sidebar, p. 2), the
AcceleJet™ Printing and Finishing solution, and
Epic™ Inserter, all of which use digital technology
to create new capabilities.
We continued to improve our operational excellence
by reducing costs and improving management
of our assets. Since 2013, for example, we have
cut our inventory in half. Overall, we reduced Sales,
General and Administrative costs by 7 percent in
2015, and by more than $200 million since our
transformation started. We are poised to deliver
even more improvements in the years to come
through the combination of benefits from our
previous actions and the global implementation of
our new ERP system. ERP rolled out in Canada last
fall and is on track for a U.S. rollout in the first half
of 2016. The resulting global integrated platform
will enable us to enhance the client experience,
better leverage our scale, streamline processes and
improve operating eciencies.
The Digital Commerce Solutions group led our
company’s revenue growth in 2015 with a 9 percent
increase on a constant currency basis — fueled by
a 30 percent year-over-year revenue gain in Global
Ecommerce, including incremental revenue from the
Borderfree acquisition, on a constant currency basis. We
also repositioned this portfolio for longer-term growth
through the acquisition of Borderfree and several other
companies, as well as the divestiture of Imagitas. The
acquisition of Borderfree allowed us to combine our
complementary strengths in enabling cross-border
commerce for large marketplaces and for retailers (see
sidebar, p. 5). Together we have created a unique and
robust cross-border ecommerce platform that provides
more than 200 clients with the ability to sell into 220
countries and territories, and accept orders in 70+
currencies. Our comprehensive end-to-end oerings,
capabilities and experience take the complexity out of
doing business across borders, from demand
220
70+
200+
And accept orders in
currencies
countries and territories
To sell into
clients
Our robust cross-
border ecommerce
platform enables