Paper and portal
It’s great to see you’re already offering one electronic channel. But, there is still an opportunity to be a cash flow hero!
Not only can you save billing costs by adding an email billing and payment channel, you can also reduce your average Days Sales Outstanding..
A Really Great Result:
When offering only a paper bill, one of our utility clients was collecting 9% of payments in 0-5 days. After launching our email bill, the percentage of payments collected in 0-5 days increased to 34%. This is an incredible improvement.
The Result You Should Expect:
By introducing an email bill, you can expect a minimum reduction in your DSO of between 3 – 7 days.
An Added Bonus:
By also offering customers the ability to make a one click payment from the email bill, you can expect at least 50% of those payments to arrive within 1-3 days.
Results like this would definitely make you a cash flow hero!