PBI
#Again, you wouldn't expect that I'd make specific comments on that.
As I've indicated before, the portfolio's an evolving subject so we've put pretty strict criteria around how you stay in the portfolio.
It's getting acceptable returns, so being a leader in your relative segment and strategic coherence and those things evolve over time.
So I would say the portfolio is something that okay now we're done, the portfolio will continue to evolve as the business evolves.
Sure.
I would say we continue to operate to plan.
Basically, if the high level way I look at this is 2014 was really the planning and designing phase, 2015 is the build phase, 2016 is more or less the implementation phase and 2017 is when we get the bulk of the benefits.
And to drill down a level, we're far along in the build phase now.
We will look to at least get a pilot going before the end of the year and then as I said, 2016 is likely the bigger year of implementation, the biggest year of implementation, so we're tracking along to the plan.
We've maintained a very high level of out of box, meaning utilizing the standard system configurations and minimizing the amount of customization we're doing.
That said, it's a big program with lots of people involved across the organization but we see a lot of benefits that will come from being able to streamline the business.
Some of it, as <UNK> mentioned earlier, benefits in our traditional businesses and I think the other big benefit is, it will be a robust platform we can grow our digital commerce businesses on as well.
So steady as she goes, as they say, and we'll continue to update you as we go forward.
Thank you.
So let me close.
As many of you perhaps noticed last week, we celebrated our 95th anniversary.
That's a tremendous accomplishment, no matter how you want to look at it.
It really speaks to the outstanding work of generations of employees, decades of market defined innovation and a relentless focus on the success of our clients.
It's an important milestone in our history, but it's just not a milestone.
We're in a multi-year journey to transform this Company and while we made significant progress in the last 30 months, we've got a heck of a lot more to do.
I closed our year-end conference in February by saying that's hard to know precisely what 2015 was going to bring.
I think that's turned out to be true.
I don't think with particular impressions at the time but it is a choppy market environment.
I also said, however that I like our position.
I like the hand that we've got, I like the opportunities that are in front of us and importantly, we're not building then Company for a quarter or for even a year.
We're mindful that we've been around for 95 years and we're really trying to create the foundation for our future and to build a bridge, not just for the next five years but to our second century.
We're going to move forward in a very disciplined focus.
You see that in our results.
You see it in how we manage expense, you see it how we manage capital and again, all of that's for the long term success of the Company.
I appreciate everyone's interest in this story.
I appreciate your questions this morning and we'll talk to you in 90 days, thank you.
