Does your company process customer billing statements each month? Do you find that your employees spend a significant amount of time with statement printing and mailing tasks? Are customers frequently frustrated by the gap between sending in their bills and seeing those payments fully processed? If you’ve answered yes to any of the above questions, it may be time for you to consider using a service that will let you outsource billing.
Many companies balk at the word “outsource,” with images of cheap labor and a loss of jobs on American soil. However, outsourcing doesn’t have to mean these things, and when it comes to outsourcing statement printing and processing, having a dedicated billing company can actually be a huge advantage for businesses of any size. By working with a company that focuses solely on billing, small business employees are free to handle other day-to-day tasks, and larger businesses can always be restructured.
There are plenty of advantages to working with a company that handles outsourced statement printing and mailing services. Here are a few of the top reasons for business owners to consider these services:
Outsourcing billing may save a company money.
When companies print their own billing statements, they have several costs associated with these tasks. In addition to paying for paper and toner, they also have to consider the costs of purchasing and maintaining printing equipment and machines made for mailing statements in large quantities. Training employees to use this equipment is time-consuming and costly, as well. Outsourcing printing and mailing of statements saves organizations money since they’ll only have to pay for one service and none of the supplies.
Statement processing can speed up with dedicated billing services.
Businesses that don’t specialize in billing often don’t have the expertise necessary to streamline statement processing. As a result, billing may slow down during busy months, and having an irregular schedule for billing could cause some weeks to be busier than others. A company that focuses solely on billing, however, can ensure that statements and other communications are delivered quickly and securely to the customers who depend on them. This goes for both one-time and recurring billing practices.
Customer satisfaction could improve when billing is hassle-free.
When customers don’t have to worry about how long it will take for money to be taken out of their accounts, they can pay their bills with ease. Outsourced billing can speed up accounts receivable for a business by as many as one to three days, which can mean fewer aggravated calls from irate customers and better cash flow for businesses, too. Instead of worrying about processing all of those statements, employees are free to assist customers rather than dealing with routine paperwork.