D. Developing a Public Social Programs offer
This priority concerns countries in which Edenred already operates and where the Group can leverage existing solutions, platforms and networks. These programs are designed to meet the needs of public institutions looking to improve the control and traceability of allocated funds.
The faster development and deployment of new solutions in 2011 and 2012 is intended to drive issue volume growth of 2% to 4% a year after 2012 . Little additional expenditure will be needed to create the solutions, which will be deployed via existing in-house platforms. Their gradual ramp-up will involve extra development and launch costs estimated at approximately €3 million in 2011 and €4 million in 2012 . This capacity for innovation will enable Edenred to maintain a pattern of sustained, long-term growth, in line with its target of annual organic issue volume growth of 6% to 14% . THE DIGITAL TRANSITION STRATEGY The second priority of the "Conquer 2012" strategy is the transition to digital solutions. This represents an important technological turning point for all stakeholders in the Edenred business model - clients, affiliates, beneficiaries and public authorities - that want to cut costs, optimize processes, get convenient and simple solutions, and ensure the control and traceability of dedicated funds. As a growth step up, the digital transition plays a key role in increasing issue volume, both by making deployment more efficient and by creating new capacity for innovation. Over the long term, the digital transition will strengthen Edenred's business model by improving its ability to:
- Generate additional revenue from affiliates, clients and beneficiaries, to offset the post-transition reduction in revenue from lost and expired products, thereby ensuring the stability of the take-up-rate .
- Reduce the cost structure by around 5% to 10%, mainly by lowering production and logistics expenses .
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