WAUSAU Financial Systems Partners with Striata for Email Bill Presentment and Payment

Published on Thursday, 08 April 2010 00:00

WAUSAU Financial Systems, a provider of payment and receivables processing solutions, today announced a partnership with Striata to provide its Secure eDocument Delivery and Email Bill Presentment & Payment (EBPP) via a new offering, GreenBills™. Designed to reduce operating costs, ensure more timely payments and deliver an enhanced customer experience, GreenBills will be unveiled at WAUSAU’s 2010 Customer Conference that will be held April 19-22 in Chicago.

Via GreenBills, an encrypted electronic bill is delivered to the consumer via email. When opened, it looks just like a traditional paper bill, but with interactive features such as invoice consolidation and the ability to make a payment with just one-click from within the email itself. Consumers can also view highly targeted and personalized marketing offers.

"We're encouraging businesses to abandon paper not just because of its inherent cost, but it's an extremely inefficient way to do business," said Kathy Strasser, executive vice president of Solution Management for WAUSAU Financial Systems. "With the launch of GreenBills, we're also taking a significant step forward with our Integrated Receivables Hub platform, designed to aggregate, automate and accelerate the entire payments process."

Some of the advantages of email bill presentment and payment include:

• Positive ROI within six to 12 months
• Ability to reduce paper and postage expenses by 50 to 90 percent
• Better cash flow because of more timely payments
• Improved ability for self-service among customers
• Using less paper allows companies to reduce their carbon footprint

"Our eBills are designed to be exact replicas of the paper that they replace, but with additional, interactive functionality," said Garin Toren, chief operating officer for Striata. "Web-based solutions are dependent on a customer's willingness to proactively enroll and retrieve documents, not the case with GreenBills. We've seen clients reduce paper by up to 20 percent after the first year, and by 40 percent after the second year."

"Forrester research indicates that 70 percent of consumers could be convinced to give up paper bills for electronic versions," said Strasser. "The demand for going paperless is certainly clear. It's now up to businesses to offer solutions such as GreenBills that will not only reduce operating costs, but an organization's carbon footprint as well."

About WAUSAU Financial Systems

WAUSAU Financial Systems is a premier provider of payment and receivables processing solutions, helping businesses of all types move money faster. With its products, services and consulting, WAUSAU works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU holds the No. 1 market share position in retail and wholesale remittance processing solutions. WAUSAU processes more than $1 trillion in payments each year through its work with more than 650 organizations, and maintains more than 40 percent of all U.S. lockbox volume. The company works with 13 of the 25 largest financial institutions, 42 percent of insurance companies with more than 5 million customers and 24 percent of utilities with more than 100,000 customers. More than 200 financial institutions use WAUSAU’s remote deposit capture service, and industry consultants Celent and Aite have ranked WAUSAU’s remote capture functionality above all competitors. For more information, visit www.wausaufs.com.