Electronic Statements | Utility Billing | Client Spotlight

Verticals

Financial Services
Financial institutions in general are looking to improve their cost-to-income ratios by applying smart, flexible technology and solutions to costly existing business processes.
Insurance
Striata is successfully enabling insurers to realize significant paper turn off savings. Insurance is an industry sector well suited to Striata's Secure eDocument Delivery solutions. With proportionately more expenses stemming from extensive paper output than most, insurers have significant cost savings to gain by eliminating paper communications.
Telecommunications
The telecommunication industry is characterized by huge customer numbers, massive volumes of transaction data, and complex customer relationships that require unique reporting, analysis and query management capabilities.
These issues combine to create the perfect environment for electronic communication.
Utilities
A number of North American utilities are finding ways to optimize their billing platforms to dramatically lower costs and avoid having to pass the ever-increasing paper and postage expenses onto their customers.

One of the biggest concerns for every financial institution is eliminating identity theft, the fastest growing crime in the world. Stealing bank statements that arrive via post or retrieving those that are thrown out are the most common forms of identity theft. The other major concern is customer retention. Banks specifically are actively looking at ways to maximize customer service, convenience and thus reduce churn.

This technology enables the following to be included in a single securely encrypted email attachment:

Multiple accounts (summary and detail) can be consolidated into a single email.
Check images.
A PDF print version of all documents.
Mortgage and other loan calculators.
Call-back & query submissions.
BillPay (if a payment is required).
Embedded data files (these can be included for easy upload into home and small business accounting applications).
Regulatory inclusions.
Personalized marketing: email provides an ideal format to communicate personalized messages, as well as targeted up- and cross-sell opportunities.

Insurance companies worldwide are using Striata solutions to replace policies, updates, notifications, statements and bills with electronic documents that are delivered directly to customer and broker inboxes, as opposed to being posted on a web portal.

ePolicies eliminate considerable printing & postage costs

The ePolicies solution is just one example of the cost saving services that Striata provides for insurers. With a typical insurance policy running 30 pages or more, the quantifiable saving per policy averages more than $6, and significantly higher for complex commercial policies.

While impressive, these savings are not limited to the initial printing and postage. Industry regulations require that insurance companies generate and deliver a new policy or amendment for every change made. The true costs of paper usage therefore include reprinting and resending. In some cases, policies are also printed by the broker, a process which further compounds the expense and associated environmental impact. Read more...

Striata's Application Platform provides a comprehensive solution for telecommunications companies to migrate their customers onto electronic communication mediums. Tailored for the telecommunication's environment, Striata's technology can present statements, invoices and itemized billing, as well as provide the option to resend documents by fax, email or send notifications by text messaging.

The primary drivers for the introduction of ebilling in this environment is the dramatic cost reductions that can be achieved through converting customers to receive documents online rather than the traditional print and post method. Specifically in the business-to-business arena, where monthly statements and invoices can run into hundreds of pages per customer, presenting these documents on the web or by email can save up to 90% of physical invoicing costs. An additional attraction is the ability to simplify navigation of lengthy bills by providing consolidated reporting and indexes in the online version, which cannot be achieved on paper.

For businesses, the ability to receive their bills in data format is highly efficient, as the data can be uploaded into an accounting package, and/or analyzed for cost reporting.

Getting a significant number of customers to sign-up for electronic bill presentment and payment has proven to be a challenge for most utilities.

Adoption of electronic bill presentment and payment by utility customers across the U.S. has averaged less than 6% over the first three years, with more than half of these customers still receiving their bills in the mail.

Because of this low enrollment and almost non-existent paper turn off, utilities that are not realizing expected savings have been pressured to pass rising billing costs onto their customers.

In comparison, utilities that have implemented email billing as part of their paperless strategies are seeing a surge in electronic payments and paper turn off: one large North American utility recently achieved in excess of 20% adoption within the first 120 days with Striata eBilling. Read more...

Financial Services Demo
The Striata Financial Services demo shows how simple it is to reduce operational costs by replacing traditional paper statements with statements securely encrypted in email attachments. The eStatements look exactly the same as the paper they replace, but are emailed directly to the client.
User adoption of this "green" practise can be controlled by the institution rather than requiring costly incentives and registration by the client.
Insurance Demo
The Striata Insurance demo shows how replacing traditional bills, statements, policies, and other high volume, system generated documents with electronic documents enables insurers to realize significant savings from paper turn off.
Telecommunications Demo
On the cutting edge of technology, telecommunications companies are, ironically, "drowning" in paper.
The Striata Telecommunications Demo shows the power of rich, interactive, email bill presentment in driving customer adoption of paper turn off and other strategic online targets
Utilities Demo
The Striata Utilities demo shows how replacing traditional paper based bills and statements enables utilities to optimize their billing platforms, reduce call center volume and service cut-offs, drive customers to self service web portals, and realize significant savings from paper turn off

Customers require the Adobe Reader to open Striata Secure PDF attachments or the Striata Reader to open Striata Encrypted EMC attachments.

Key features of the demo include:

Electronic statements are produced from the same data as the paper statements.
eStatements are encrypted with up to 256 bit encryption.
eStatements are attached to emails, digitally signed and instantly delivered to customers.
Advanced email authentication and trusted ISP relationships ensure delivery to the inbox.
The customer receives an electronic document that looks just like their paper bill, but with rich interactive features such as embedded data files, graphing and sorting.
The email contains personalised marketing with click and open tracking.
Transpromo marketing, cross-sell, up-sell and data update links are contained within the secure eStatement.

Read more for a detailed explanation of the demo with sceenshots or Get the demo to have a live demo emailed to you.

Get the demo

Customers require the Adobe Reader to open Striata Secure PDF attachments or the Striata Reader to open .EMC attachments.

Key features of the demo include:

Electronic documents replicate paper bills, statements, and policies, enhanced with rich interactive features such as embedded data files, graphing and sorting.
These documents are encrypted with up to 256 bit encryption.
Secure, transpromo marketing links can be embedded in the electronic document, creating new cross-sell and up-sell opportunities.
Striata's profiling engine allows for these marketing offers to be completely personalized, and targeted towards any known demographic trigger.
They are then are attached to emails, digitally signed and delivered directly to customer inboxes.
The email contains personalized marketing with click and open tracking.
Advanced email authentication and trusted ISP relationships ensure delivery to the inbox.

Read more for a detailed explanation of the demo with sceenshots or Get the demo to have a live demo emailed to you.

Get the demo

Customers require the Adobe Reader to open .PDF attachments or the Striata Reader to open Striata Encrypted EMC attachments.

Key features of the demo include:

Highly compressed attachment, ave 120KB in size.
The 'shared secret' challenge = confidentiality.
Authentication is offline.
The bill is opened offline in a browser or Adobe.
Multiple file types can be packaged within the HTML view, including a data file as well as a PDF version.
Striata BillPay provides ultra-secure 1-click ACH, debit & credit card payment, directly from the email bill.
Surveys, notifications, and self help pages can be embedded.
The secure eBill attachment remains encrypted, even once saved onto the local computer.
Email bill and statement presentment creates numerous touch points for cross sell and upsell to existing customers.

Read more for a detailed explanation of the demo with sceenshots or Get the demo to have a live demo emailed to you.

Get the demo

Customers require the Adobe Reader to open Striata Secure PDF attachments or the Striata Reader to open Striata Encrypted EMC attachments.

Key features of the demo include:

Electronic documents replicate paper bills and statements, enhanced with rich interactive features such as embedded data files, graphing and sorting.
These documents are encrypted with up to 256 bit encryption.
Secure, transpromo marketing links can be embedded in the electronic document, creating new cross-sell and up-sell opportunities.
Striata's profiling engine allows for these marketing offers to be completely personalized, and targeted towards any known demographic trigger.
They are then are attached to emails, digitally signed and delivered directly to customer inboxes.
The email contains personalized marketing with click and open tracking.
Advanced email authentication and trusted ISP relationships ensure delivery to the inbox.

Read more for a detailed explanation of the demo with sceenshots or Get the demo to have a live demo emailed to you.

Get the demo

Financial Services
ABSA, a subsidiary of Barclays Global Banking Group, followed an aggressive opt-out process for Credit Card customers with valid email addresses, and turned off paper automatically after 3 successful eStatement deliveries.
Insurance
The Plymouth Rock Group selected Striata ePolicies as a unique marketing product to realize significant savings and increase working capital.
The insurance industry is perfect candidate for replacing paper within electronic document delivery.
Telecommunications
Plant Telecommunications required a solution that would increase service levels while dramatically reducing billing costs.
They selected Striata's Email Bill Presentment and Payment solution as a means to provide Plant customers with a more convenient and secure way to receive and pay their bills.
Utilities
CPS Energy is the USA's largest municipally owned energy company. It serves more than 680,000 electric customers, including almost 319,000 natural gas customers in and around the City of San Antonio.
CPS followed a "Push" model exclusively and achieved 21% B2B paper truncation within 2 years.

ROI was achieved in 8 months and the results were so impressive that a decision was made to roll out the solution to all retail divisions.

Four years later, eStatements are still being delivered to 97% of customers with email addresses, representing 28% of the target customer base.

A key factor in the adoption process was the use of an Opt-out strategy for all customers with email addresses on file.

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When insurance in Massachusetts was deregulated, Plymouth Rock needed a way to differentiate themselves from larger insurers with significantly higher marketing budgets.

Plymouth Rock selected Striata ePolicies and eBills as a unique product offering that could emphasize the value of the personal relationships between brokers and customers as well as call attention to their commitment to preserving the environment.

In an industry where service is a major differentiator, Striata's solution enhances Plymouth Rock's exceptional customer care.

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Plant Telecommunications, an independent telco company based in South Georgia, has implemented Striata’s highly secure and easy to use eBill Presentment and Payment solution. This has fundamentally enhanced the billing and payment process, reducing costs and improving customer service.

Striata’s powerful email bill presentment solution also provides Plant Telecommunications with a cost effective and profitable marketing channel, enabling them to electronically reach customers with personalized and targeted communications.
"We see a much shorter turnaround time in recording payments. With this method, it's in the bank the next day."

Learn how Plant Telecommunications improved their cash flow

CPS Energy implemented Striata’s highly secure and easy to use eMail Invoice Presentment and Payment (EIPP) solution with the aim to provide its business customers with a commercially focused electronic invoicing system.

Striata’s comprehensive email bill presentment solution allows CPS Energy customers with a means to receive multiple encrypted invoices in a single email and the option to make instant, secure electronic check payments.

"CPS Energy's business customers have looked forward to an electronic solution for some time now and we are very excited to offer them secure eBilling as the best solution to meet their complex needs," Stephanie Ewing, Web Solutions Manager for CPS Energy.

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What Our Customers Think
“Plymouth Rock has a long history of identifying innovative ways to deliver outstanding service to our consumers and agents. Eservices are another example of our trying to make our customers’ lives easier.” President, Plymouth Rock Assurance

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The eBilling business case
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Case Study

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Explore Verticals

Client Focus on Utilities
Read how CPS Energy achieved over 20% paper truncation in 2 years

Client Focus on Telcos
Read how Plant Telecommunications drove down costs and improve service levels