If you’re a hands-on sort of entrepreneur, then you might think that taking care of your billing statements yourself is the way to go. Larger companies may have a dedicated billing department for statement printing and statement processing, but this can take valuable staffing and resources away from other core tasks. That’s not even factoring in the overall cost of monthly or semi-annual billing. Therefore, although it may seem counter intuitive to some business owners, in-house billing isn’t always the right move for all companies.
Why is handling your own invoice printing more hurtful than helpful? Here’s everything you didn’t know that you could get when you outsource billing, invoice printing, and other crucial accounts receivable practices:
Having someone else handling your billing statements can make your job easier. Business owners have enough to do already without worrying about the day-to-day processes surrounding their accounts receivable. Additionally, if employees are overworked but understaffed, having to deal with billing can put too much strain on everyone. In this situation, outsourcing is definitely the answer. For small businesses, especially, this is crucial. But what about big business? All size businesses can actually benefit from this outsourcing, and larger companies can redirect personnel to other core tasks and responsibilities rather than stressing out about hiring in-house billing staff.
Your business can save money and help the planet by outsourcing invoicing. Sometimes businesses wind up using far more paper than they should because they’re not exactly sure how to make the most of their bills. This leads to higher costs for printing, paper, and postage all due to inefficiency. By choosing professional statement printing services, your statements can be redesigned, printed, and mailed to your customers without you having to lift a finger.
Outsourcing printing services could eliminate the need for paper altogether. Did you know that businesses can save an average of 11.5 cents per billing statement when they switch to online billing services? Although many customers still keep paper invoices for their records, others are going “green” by opting into online billing. Not only does this practice save paper, it also adds a convenient electronic invoicing and archiving system to a business’s website, so customers never have to worry about checks getting lost in the mail.
Furthermore, about 25% of customers surveyed reported that their relationship with their biller improved when they began offering online payments. Another study showed that half of all bills were paid before their due dates and one-fifth paid the same day the bill was due, so businesses can speed up their cash flow thanks to the convenience of online billing.
If you’re thinking about making the switch to outsourcing invoice printing, make sure to contact us as soon as possible.