Get Payments Faster
Reduce Days Sales Outstanding by up to 70%Documented results show that email bill presentment and payment can reduce the Days Sales Oustanding (DSO) cycle by as much as 70%.
Optimizing electronic billing processes can dramatically reduce your DSO by cutting the time it takes to get bills to your customers and to elicit payment.
Tough financial climates demand faster payment cyclesIn today's tough economic environment, reducing the payment cycle can positively influence your company's ability to grow and compete.
"The easier it is, the faster I'll pay"
- The results from two recent Striata utility eBilling projects provide hard evidence confirming that a customer convenient eBilling solution is paramount:
- Over 50% of customers paid the bill before the paper bill could even have arrived by mail.
- 18% paid on the same day they received the bill.
Striata's email billing reduces DSOThe optimal electronic billing solution is a single touch experience that minimizes effort and maximizes convenience.
Striata's email billing shortens the payment cycle by reducing the time it takes for a bill to be delivered and paid.
With Striata eBilling, bills are delivered as secure electronic documents directly to customer inboxes. eBills are embedded with Striata BillPay, an innovative 'one-click', no registration electronic bill payment, directly from within the encrypted, emailed bill itself.
The seamless integration between bill presentment and payment drives faster payments which in turn reduces the DSO.
Benefits of email presentment and paymentFor the customer: more choice in payment options is perceived as an added convenience. The benefit of Striata's email presentment and payment solution is that it requires only one click to open the bill and one click to pay it. This process therefore eliminates the need to print out the bill, file it and set a reminder to pay it later. It is the ultimate in customer convenience.
For the biller: offering the ability for payment from within the bill provides customers with an enhanced experience which maximizes ePayment adoption. Additionally, offering a wider range of payment options provides financial protection.
Striata's customers get paid fasterThis chart shows the distribution of payments by email billing customers of a major US utility utilizing Striata's innovative BillPay solution.
The average DSO for customers still receiving paper bills is 45 days. As illustrated in the above table, all but 3% paid within 30 days and more than half paid within a few days of receiving the eBill.