The company's chief financial officer Bruce Nolop said the company would "redefine itself" and not just be known as the manufacturer of franking machines and inserting kit. Mailstream is a term used by Pitney Bowes to describe the entire mailing process from document creation and printing through to postage and tracking. The idea is also being communicated through the company's marketing literature.

"It is a very large space and we will consider expanding into anything that can go into the mail process," said Nolop. "But they need to be niche areas and we will not enter a market where there is already an entrenched player."

Pitney Bowes signalled its intentions to move into the software market earlier this year after buying Emtex, a supplier of workflow for high- volume direct mail and transactional digital print.

Pitney Bowes has announced its 2006 first- quarter results. Revenue increased 7% to 750m ($1.4bn) and pre-tax profits were up 11% to 160m. "I am very pleased that we have started the year on such a solid footing with a well diversified base of revenue and earnings growth," said chairman and chief executive Michael Critelli (pictured).

The firm has added two inserting machines to its desktop range. The DI380 OfficeRight and DI425 FastPac Inserting Systems are capable of processing bills, statements or direct mail. The DI380 can handle up to 3,000 mail pieces per hour, while the DI425 has insert feeder capacity of 300 and improved paper handling.