Pitney Bowes (PBI) Updates Long-Term Strategy for Europe
Pitney Bowes Inc. (PBI) recently updated its long-term strategy for Europe. The company had previously announced a multi-year global transformation plan to develop its core business while enhancing the client experience. Pitney Bowes’ long-term plan for Europe consists of strategic marketing initiatives like the company’s go-to-market scheme designed to enhance its software business.
As part of its go-to-market strategy and geographic coverage model, Pitney Bowes has been streamlining its business in order to deploy its resources optimally. The company has already undertaken initiatives like exit from non-core business in Norway and strengthening of mailing business while simultaneously expanding market share in the key European markets.
The company has also extended its mailing business to dealers in as many as six European markets. Such initiatives are allowing the company to enhance its footprint across Europe and improve client service even in markets where it operates through partners.
In the last reported quarter, the company announced the transfer of a portion of its operations in the Norway-based AV equipment and retail solutions, sellers and service providers of multi-functional devices and related software. Most recently, Pitney Bowes transitioned its operations in key regions like Austria, Belgium, Luxembourg, Netherlands, Portugal and Spain to a dealer network. In 2013, these businesses contributed about $50 million to the company’s total revenue.
Pitney Bowes’ strategic transformation process is designed to create long-term flexibility that will aid future growth investments. The company continues to realize the benefits of its ongoing actions aimed at improving its infrastructure, productivity and profitability.
Pitney Bowes currently holds a Zacks Rank #3 (Hold). Some better-ranked stocks that can be considered at the moment include Canon Inc. (CAJ), Apple Inc. (AAPL) and Adobe Systems Inc. (ADBE). While Cannon and Apple sport a Zacks Rank #1 (Strong Buy), Adobe Systems holds a Zacks Rank #2 (Buy).
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