Paper bills only
You’re still sending all your bills on paper, which means you have an opportunity to be a real cash flow hero!
Not only can you save billing costs by adding an electronic 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 billing solution, 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 within 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!