Business

Prism expands Jamaica operations

Wednesday, December 08, 2010    

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Regional outsourcing company Prism Services recently announced the expansion of its mail processing business 'Streamline Services' and launch of its records management company 'Stronghold Data Solutions'.

Director of Prism Edward Ince said Streamline has moved into a new 10,000 square-foot processing facility in Kingston, noting that "Its new offices will allow for increased capacity to meet the needs of existing and upcoming contracts."

Ince highlighted that Streamline had outgrown its current facility despite the fragile and uncertain times and that he felt that the business was strong and had to respond to its clients needs. Streamline's core business is the outsourcing of creation, production and distribution of statements for corporate clients resulting in more efficient operations and lower costs.

Ince also spoke about the opening of their Jamaica branch of Stronghold Data Solutions, the core of which will focus on the management of records for corporate clients.

"We partner with our clients and act as a 'custodian' of their records and documents. We store records for clients in a safe and secure environment, ensuring easy and fast retrieval (both physically and digitally). Stronghold also can destroy documents for clients in a controlled environment," Ince explained.

He said that this business segment was growing rapidly.

Prism has been operating in Jamaica since the early 90s, mostly in the credit and debit card areas providing consulting and project management services to many of the top banks in Jamaica. Over the last decade they have changed their business model with more emphasis on outsourcing and longer term recurring contracts in business segments such as the management of loyalty systems, mail processing and records management.

"These are our niche markets where we are experts in this area," outlined Ince.

Prism is also a big player in the loyalty and customer relationship management arena in Jamaica. Its largest success in Jamaica is the well-known Magna Rewards program. Prism developed the business plan in the 90s and established Magna in Jamaica in 2003. Other clients in their loyalty segment are the Air Jamaica 7th heaven with its NCB/Travelmaster.

Ince outlined that Prism's objective was to continue to expand its current business both in Jamaica and the Caribbean.

Jamaica is our West Caribbean processing hub. We see ourselves as an indigenous Caribbean services company. We live in the Caribbean, employ Caribbean people and understand the business practices of the region. This gives us the scale advantage of operating regionally vs. our local competitors, also understanding how the region works provides a further competitive advantage against the North American service companies," he said.

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