Statement processing has evolved far beyond basic printing and mailing. Today, sophisticated technology offers significant advantages, including faster delivery, improved collection rates, and increased sales opportunities.
**Accelerated Delivery:**
Electronic invoicing is now a mainstream method for bill delivery, benefiting both businesses and customers. Customers enjoy the convenience, while businesses experience faster and cheaper invoice delivery. With a significant percentage of customers already managing bills online, leveraging this trend results in reduced delivery costs, quicker payment cycles, fewer customer service inquiries, and improved customer loyalty.
Outsourcing bill delivery provides a cost-effective and rapid solution for printing and mailing. Businesses that outsource often find reduced overhead, lower costs, and faster delivery times. Outsourcers with strategic printing locations can optimize postal routes, potentially decreasing average shipping times. Furthermore, many offer service level agreements guaranteeing same-day printing and mailing, which can significantly accelerate bill delivery.
**Enhanced Collection Rates:**
Minimizing returned mail is crucial for improving collection rates. Advanced mailing technology empowers businesses to ensure accurate and timely delivery. Data hygiene tools like standardization, CASS, NCOA, MAXCOA, DSF, LACS, and merge/purge can substantially increase delivery success rates. USPS Confirm enables tracking of first-class mail, providing valuable insights into mail delivery and allowing for prompt identification of address issues.
Electronic invoicing further enhances collection rates by ensuring invoices reach customers regardless of address changes. Email addresses serve as the access point, and payments are often received faster due to the elimination of mail delivery times.
**Boosting Sales:**
The billing process represents a valuable marketing opportunity. Dynamic messages can be integrated into both paper and electronic bills, tailored to customer purchasing behavior. By tracking customer sales data from monthly invoices, outsourced providers can develop targeted marketing strategies to drive cross-selling, up-selling, and customer retention.
In conclusion, modern bill delivery extends beyond mere printing and insertion. It encompasses a technologically advanced process designed to enhance sales, accelerate collections, and provide greater control.