Profile: Standard Register Co (SR)
3 Dec 2013
The Standard Register Company (Standard Register) is in the healthcare, financial services, commercial, and industrial markets Standard Register provides a combination of market-specific solutions and other solutions that serve common business needs across its markets. The Company classifies its solutions as core or legacy based upon its business strategy and focus. Core solutions represent solutions designed to address current and evolving needs of targeted markets, consist of combinations of print, labels, services, and software, and are targeted growth areas for it. Legacy solutions primarily support common business transaction processing needs and consist mainly of printed products and distribution services. The Company operates four business segments: Healthcare, Financial Services, Commercial Markets, and Industrial. In August, 2013, it acquired WorkflowOne
Standard Register’s print product and service include global marketing solutions include multi-media marketing materials, such as brochures, newsletters, direct mail, commercial business cards, flyers, post cards, product literature, and promotional items; critical communications include patient education materials, billing statements, explanation of benefits, healthcare plan enrollment kits, training materials, commercial transaction documents, customer notices, membership and enrollment documents, double-sided postcards, and other variable communications; digital print solutions include on-demand printing with digital color and wide-format capabilities, technical literature for manufactured products; administrative and clinical forms, traditional business documents, such as checks, envelopes, application forms, deposit slips, tellers receipts, and secure documents, and secure documents, which secure prescriptions produced in secure pads, laser sheets, and rolls of thermal paper. Its labels product and service include patient wristbands, labels and documentation with barcodes, patient photos and data; functional, decorative, and in-mold labels, as well as pressure-sensitive decals, for manufactured products, and transactional labels, such as shipping and distribution labels. Its software product and service includes patient information solutions, such as SMARTworks Clinical Enterprise and iMedConsent, and Branch automation solutions for retail banks. Its services include distribution and design services for global marketing solutions and critical communications; software maintenance support and professional services, and distribution services for medical forms and other business documents.
Standard Register’s healthcare segment serves the needs of the healthcare market, which consists of Acute Care Providers, which is primarily hospitals and integrated delivery networks (IDNs) - defined as groups of healthcare providers; Long-Term Care Providers, which is a organizations that provide senior living, assisted living, skilled nursing, and dementia care services; Ambulatory Care Providers, which is a other organizations providing healthcare, such as physicians and outpatient surgery centers; Payors and Managed Care, which is a organizations that provide some portion of payment for healthcare services, such as Anthem, Medicare, and health maintenance organizations (HMO’s) is sometimes referred to as the insurance sector, and Facilitators of Ancillary Services, which is a provider of ancillary healthcare services that are prescribed by providers or other non-clinical services that directly interact with patients, such as laboratories and clinical staffing. During the fiscal year ended January 1, 2012 (fiscal 2011), the segment accounted for 36.5% of the Company’s consolidated revenues.
The Company's primary focus is on acute care providers where it serves 62% of the United States hospitals. It also serves long-term and ambulatory care providers, payors and managed care, and providers of ancillary services. Healthcare segment revenues are derived primarily from administrative and clinical forms, critical communications, global marketing solutions, labels, secure prescriptions, and patient information solutions. The Company's solutions help hospitals standardize documents, streamline workflow, reduce costs, improve regulatory compliance, and more effectively manage both paper and electronic medical records.
The Company competes with R.R. Donnelley and Sons and WorkflowOne, LaserBand, Precision Dynamics Corporation, FormFast, Bottomline Technologies, and Access e-Forms.
Standard Register’s financial services segment serves the needs of the financial services market, which consists of retail banks, insurance carriers, credit agencies, security dealers, insurance agents or brokers, and holding companies. The Company focuses on major retail banks and large insurance carriers, targeting the top 450 large and mid-market retail banks and the 300 largest insurance carriers. During fiscal 2011, the financial services segment accounted for 26.9% of the Company's consolidated revenues.
The Company’s service provides within the financial services market are focused on customer retention, cost management, revenue growth, managing security and regulatory compliance, and creating operational efficiencies. It provides solutions that help companies ensure brand consistency, increase customer loyalty, enhance security, increase efficiencies, and decrease costs. Revenue for Financial Services is derived primarily from the traditional documents, global marketing solutions, critical communications, and software and professional services. It also offers a national network of production locations and certified suppliers, which enables the customers to reduce inventory and distribution costs associated with pre-printed documents and eliminate obsolete content.
Global marketing solutions account for approximately 34% of its financial services segment revenues. The Company’s Web-based solutions enable marketers to launch and manage campaign materials through their sales channels by ensuring that marketing materials are current and consistent across all media and enabling shortened cycle times for delivery. In addition, it also manages point of sale and collateral fulfillment as a service to its customers, utilizing expertise of its PrintConcierge group and software that facilitates bidding and order management among a nationwide network of third-party commercial printers. In 2011, it introduced a new suite of promotional products solutions. These solutions provide businesses with greater control over their brand and more creativity.
The Company’s newest solution, integrated statement and billing, enables businesses to manage multi-channel customer communications to reduce transaction costs, shorten the time between invoicing and payment, and create new cross-selling opportunities. It provides a complete outsourced solution for managing the printing, mailing, electronic transmission, and fulfillment of business-critical documents, such as invoices, statements, and notifications. Software includes its branch automation solution for banks that automates the creation, authorization, printing, reporting, and reconciliation of official items, such as checks, money orders, starter checks, and similar items.
The Company competes with R.R. Donnelley and Sons, WorkflowOne and Williams Lea.
Standard Register’s commercial markets segment serves the business-to-business or commercial market, which primarily includes retailers, business service providers, wholesalers, transportation services, technology and communication providers, and government. The Company's primary customers are large diverse retailers, state governments, overnight delivery carriers, business service providers, and wholesale companies. During fiscal 2012, its commercial markets segment accounted for 24.6% of the Company's consolidated revenues.
The Company provides solutions that help companies ensure brand consistency, increase customer loyalty, enhance security, increase efficiencies, and decrease costs. Revenue for commercial markets is derived primarily from the traditional documents, global marketing solutions, labels, critical communications, and professional services. Traditional documents account for approximately 35%; while global marketing solutions and labels each account for approximately 20% of the segment's revenues. Product offerings for traditional documents, labels, global marketing solutions, and critical communications are the same as those offered in the Company's financial services segment.
The Company competes with R.R. Donnelley and Sons, WorkflowOne and Williams Lea.
Standard Register’s industrial segment is focused on the printed production part needs of manufacturers. Printed production parts are all of the labels and technical literature which go on a manufactured product or are shipped with a product. During fiscal 2011, industrial segment accounted for 12.0% of the Company’s consolidated revenues. There are over 280,000 manufacturing companies in the United States producing millions of different products. Industries offering fit the Industrial segment range from apparel, wood, and consumer products to rubber, plastic, and metal products and industrial machinery and equipment. It focus on companies that produce hard goods with multiple manufacturing facilities, particularly companies that have a centralized sourcing model and value technical and high levels of service. Its printed production parts for key industry segments include as heating, ventilation, and air conditioning (HVAC), electrical, and appliance and consumer durables, and a preferred supplier for multi-site manufacturers.
The manufacturing environment is characterized by numbers of stock-keeping units (SKUs), high obsolescence, little coordination between facilities, and many time-consuming processes. Revenue for industrial segment is derived primarily from labels, global marketing solutions, technical literature and other documents, and critical communications. Labels include functional, decorative, and in-mold labeling and decorating and represent approximately 70% of segment revenues. Utilizing its material science capabilities, its functional labels protect the customers’ images by ensuring their product marking complies with legally-required standards and is designed and applied in the most efficient and effective manner. Its color management capabilities with its decorative labels ensure a manufacturer’s brand is presented consistently to consumers.
In-mold labeling solutions enhance the appearance of molded plastic products. Through patented Grafilm technology, the Company’s in-mold labeling and decorating products allow manufacturers to enhance the appearance of their products by expanding available decoration space, even on curved, contoured or textured parts. In-mold labels bond with the molded part and are permanent and non-removable, providing manufacturers with safety labeling, branding and decoration that lasts the life of the product. Global marketing solutions consist primarily of managing and producing the materials that enable manufacturers to market to the end consumer through their dealer/distributor networks. Its technology helps to ensure that the customers’ dealers and distributors utilize their brand appropriately. Critical communications enable manufacturers to provide targeted, effective messages to their customers, while reducing costs and ensuring information security.
The Company competes with R. R. Donnelley and Sons, Avery Dennison, Brady Label, Worldmark, Serigraph, Central Decal, Inland Label and JG Sullivan.
Standard Register Co
600 Albany Street
DAYTON OH 45417