Fidelity Investments Has Saved $1 million Since Consolidating Four Printing Facilities Into One

By Erik Cagle

More Than $1 Million in Savings

By consolidating four of its print centers into its Boston facility, Fidelity Investments’ Document Printing Services operation has saved more than $1 million in operating costs. Michael Luzzo, vice president of Fidelity Investments, credits the success of the initiative to four key elements:

Having a clear vision of what DPS was trying to accomplish.
Communicating the plan to both DPS’s associates and business partners. “We were diligent in trying to over-communicate what it was we were trying to do, the reasons behind it and the benefits,” Luzzo notes.
Involving vendors.
Executive management support. “We had sold and presold this plan up through the levels of executive management here so that our team knew what we were trying to accomplish, and how we were trying to execute against it,” Luzzo relates. “Just in case we ran into any resistance across the firm, we would have support at the executive level.”

Gaining the blessing from upper management was as critical as any of the four components.

“At Fidelity, it’s all about incremental improvement,” Luzzo says. “It’s about making the things you do today better tomorrow and always looking for incremental improvement.”

It has long been said that trust is the hardest thing to earn and, when lost, virtually impossible to regain. For many people, the most difficult decision is entrusting a stranger or an entity to provide maintenance and care to our loved ones and money. Reputation and results are everything. An epic failure irrevocably damages custodians of family and finances. There are no second chances.

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Consolidation Pays Big Dividends for Fidelity