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| Newsflash #9 |
5th April 2005 |
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A North American Utility Email Billing Case Study
NSTAR, a large electric utility in MA, recently undertook a pilot initiative using Striata to deliver its electric bills to residential customers via secure email, and to introduce a revolutionary new ability to take check payments directly from within the email bill.
Please find following the initial feedback of a survey responded to by over 25% of the pilot group of customers. These customers were surveyed in the third month of the project.
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"NSTAR Email Billing Pilot Case Study" |
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Pilot objectives:
- To truncate all paper for pilot group
- To test and prove that required formats can be delivered
- To measure speed & deliverability
- To test selected pilot participant responses
- To refine the data delivery process
- To refine the unsubscribe process
- To gain internal business approval
- To fully close the in-email payment process and test customer acceptance and usage of this payment option
The Payment Solution: (In conjunction with our payment partner, Transactis)
- ACH Check payment directly from within the eMail Bill
- No pre-registration
- 1-click payment
- Confirmation screen
- 2 confirmation emails
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General results:
- Over 91% paper truncation, less than a 9% unsubscribe rate
- 98% email deliverability (paper bills were automatically generated for email failures.)
Herewith the results of the customer survey conducted in March:
- 22% of customers responded to email survey in the first 4 days (Over 27% after 14 days)
- "How would you rate you NSTAR Email Bill"-77% responded EXCELLENT or GOOD
- "Was the Email Bill easy to pay"-78% said YES
- "Would you like NSTAR to offer Email Billing on a permanent basis"-92% responded YES
Payment results:
- 19% of recipients paid their bill on the SAME DAY they received it
- 68% paid in less than 10 days from receipt of the Email Bill
With almost 70% paying in less than 10 days and an unbelievable 19% paying on the same day of receipt, this has an incredible impact on cash flow, in particular Day's Receivables. The vast majority (over 50%) paid this bill before the paper would have reached their mail box.
Some actual sample customer feedback:
- "Excellent idea - I wish you offered permanently! Bring it back!"
- "Not receiving a paper statement is the best way to do things. People do not want to have a paper statement."
- "It is more convenient and I am less likely to lose the bill and not pay on time"
- "I don't want to go back to paper. Please continue."
- "Your pay service was excellent. Very convenient and easy to navigate! I hope you continue with this service"
- "I hate all the paper bills I get. I would much rather get the email bill."
- "This program is a great way to save time and paper. Hope you bring it back."
- "Please keep this active!!!"
- "Loved Email Bill. It was quick and easy. I'm disappointed to see it end."
- "Very practical, user friendly, good idea. Being in Massachusetts or in Florida, don't matter anymore. My electric bill is always at my finger tips."
- "Email Bill worked fine for me. I work nights and paying by email bill was great. Instead of taking my lunch hour to run to the post office I can just send my payment through email bill paying system."
Please do not hesitate to contact us for more information in this regard.
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"Delivery & Payment of Bills via Secure Email"
Leveraging Online Billing and Payment Transactions for Cost Saving, Process Automation and Increased Customer Satisfaction
Come and see Striata's Presentation:
Striata recently launched a world first: A technology solution that allows billers to drastically reduce the number of clicks and time that a consumer needs to electronically view and pay their bills. Secure email billing is a more user-friendly and is complimentary offering to online billing. Leave this session with a good understanding of:
- Knowledge of Email EBPP
- Significantly better EBPP adoption strategies
- A groundbreaking new Payment solution
EBillXchange is proud to present its 7th Annual e-Payments and e-Billing summit on June 27th - 29th 2005 in New Orleans, LA. Go here >> or call 800-882-8684 to find out more and reserve your place.
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We look forward to your feedback.
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Regards
Garin
Toren
Chief Operating Officer
Striata
Inc.
Messaging innovation
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Editorial: 48 Wall Street, Suite 1100, New York,
NY, 10005. Visit our Press Office here
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