The dawn of the digital age is having a profuse effect on communications management. As business communication becomes digitalised the manner by which businesses communicate is changing forever.

Recently, for example, the Chinese company Alibaba has shown how e‐commerce is going to play a key role in handling big data and driving significant change in Asia. In Australia, AMP and Australia Post have shown how long‐standing relationships can be used to transform organisations in this new digital world. Established in 1849, AMP is Australia’s top independent wealth management company and has 5 million customers, almost 6000 employees, 400 institutional clients as well as $172 billion of assets. AMP has been provided with mail services for more than 165 years by Australia Post.

In 2011 the chief executives of AMP and Australia Post met to develop this relationship in line with the communication needs of the 21st century. This led to a new joint digital initiative, intended to increase understandings of the customer, improve the provision of information to customers and act on customer feedback. Meeting these goals challenged AMP to develop a rigorous data management system, capable of monitoring customer correspondence, and a comprehensive communications management system. Ajit Thillainathan, Head of AMP’s Product Alliances, Banking and Wealth Management Products reveals that the long standing alliance between AMP and Australia Post has laid the platform to roll out the new strategy. The strategy includes access for AMP to Australia Posts’ Reconnect service, allowing AMP to compare shareholder movement data with a Movers Database of 2.5 million people, and the outsourcing of AMP’s scanning and mailroom services to Decipha, a subsidiary of Australia Post. The importance of the AMP–Decipha relationship is noted by Thillainathan, who says that Australia Post plays a large part in helping them serve their customers, handling an approximate 11.8 million documents a year for AMP.

The relationship between AMP and Australia Post has also allowed for the development of a significant digital initiative: the Australia Post Digital MailBox. This is a user friendly, no‐cost solution for AMP customers to correspond through a secure online internet service. It also allows AMP to advance its communication and customer in an increasingly digitised business environment. 

‘As they move online, customers want to have the ability to interact digitally with AMP in a secure manner, so Australia Post and AMP have come together to satisfy this customer need. The Australia Post Digital MailBox allows us to engage with customers in a more interactive and meaningful way’, says Thillainathan. He adds that the partnership enables them to save on print costs, enhance online customer engagement and create a closer relationship with customers, with both the business and consumer benefiting’.

QUESTIONS

1. Do you think the partnership between AMP and Australia Post provides AMP with a competitive advantage?

2. How are AMP’s direct competitors communicating with their customers online?

Transcribed Image Text:

AMP Q AUSTRALIA POST