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Pitney Bowes Inc. (PBI - Analyst Report) entered into a collaboration with GrayHair Software Inc. to improve its customer service solutions with IMb (Intelligent Mail Barcode) compliance and mail tracking in the U.S.

Pitney Bowes is a market leader in providing innovative services to business mailers. Currently, Piney Bowes helps its customers receive large postage discounts on first class letters and flats. The company handles about 14 billion mails on a yearly basis through its 36 facilities. This new mail tracking software, MailTrak with Commingle solutions will help Pitney’s Presort Services Customers significantly who are looking for greater postal discounts with better visibility of their mails. This service will be offered in four different options.

Additionally, apart from the above mentioned services, the two companies also intend to develop a new service in order to expand the range of their services to provide increased visibility of their mails during the presorting delivery process. This service is expected to be available by the second quarter of 2013

GrayHair Software Inc. primarily provides services that improve and automate the management of business mails. The company’s services are offered through a cloud based platform named SelectSolutions. With more than one billion scans on a monthly basis, GrayHair Software is the largest national user of IMb tracking programs. This new software targets those mailers who are interested in the 2014 USPS Full Service IMb requirements while also allowing better handling of automated discounts.

Pitney Bowes currently has a Zacks Rank #3 (Hold), However, some other companies that are worth looking into include Symantec Corp. (SYMC - Analyst Report) which has a Zacks Rank #1 (Strong Buy) and Tyco International (TYC - Analyst Report) having a Zacks Rank #2 (Buy) and Xerox Corp. (XRX - Analyst Report) with a Zacks Rank # 3 (Hold).

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