Submitted: The Two Sides Team December 9, 2013
Effective, timely revenue collection is vital to running a successful business. Even in today's increasingly digital world, for businesses that rely on deferred billing, the engine that drives revenue collection is still usually bill print and mail.
via The Elite Print and Mail Blog
December 6th, 2013
Effective, timely revenue collection is vital to running a successful business. Getting paid (and paid quickly) enables your organization to take decisive action: reinvest in employees and technology, upgrade the products and services you offer, and satisfy the demands of a whole host of relevant stakeholders.
Even in today's increasingly digital world, for businesses that rely on deferred billing, the engine that drives revenue collection is still usually bill print and mail. For example, according to the 2012 Fiserv Billing Household Survey, only 48% of U.S. consumers receive at least one bill electronically each month.
That means there are still plenty of paper bills being sent to consumers and business every day. And that, when it comes to revenue cycle operations, traditional statement print and mail is still plenty important.
Far more than just ink-on-paper, clean, clear, well-designed billing, whether it's an account statement, billing invoice, or past-due letter is truly mission-critical stuff.
Good bills keep your revenue cycle running smoothly and your bottom line awash in cash. On the other hand, poorly designed, inefficiently executed financial correspondence can be a pretty serious accounts receivable liability, leading to higher collection costs, more bad debt, and less cash flow on hand for day-in, day-out business activities.
Not to mention that, like a great joke with a badly mangled punchline, it can be the source of customer confusion and frustration that quickly turns a pleasant transaction into a negative experience.
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