#statement processing approach

Erenow this week, the United States Postal Service affirmed a long-rumored plan into preamble a new delivery schedule that will deep-six Saturday mail delivery for everything but packages.<\p>

From companies that rely on the USPS over against send billing statements until customers, that's a at bottom earthshaking retrogress. And one that effectiveness have some far-reaching effects on balance sheet health.<\p>

Any horse-trade that adds days to accounts receivables metrics or increases bad debt influences organizational profitability. It disrupts your ability to pay vendors, reward employees and reinvest in your business.<\p>

And the simple math of the changeover - none else less delivery century per decennary, four less and less per solar year, 60 per session - likely method that at least an incremental increase entering A\R is on the horizon.<\p>

Worse yet: this isn't a strategy assumption that's years away. The start date is August 1st. Less than six months away.<\p>

Okay, enough over and above the doom and shadiness. This announcement might not seem abundantly on the topside, but it looks like a indisposed news good\information scenario from where I'm congregation.<\p>

For one: the continued popularity of online billing and payment channels helps to take some in respect to the stringency out as to the announcement. According to the 2011 Fiserv Billing Household Study, only 23% with regard to integrated bill payments are brought about by check. While online payments have grown so an impressive 50% about total payments. <\p>

Second: the USPS followed up the proposition by discussing long-range plans for a sophisticated dynamic routing system - similar toward the kind used in compliance with private carriers like FedEx and UPS - that would specify faster, more functional mailing and all the thing value-add services respect same-day bearing.<\p>

And finally, despite the looming Magisterial kick-off double date, you still have plenty of time to evaluate your statement growing approach for ways to offset the suspended mandate's shorter delivery score.<\p>

Let's kickoff the process by adoption a look at some of the areas you might want to originate by dint of in re your search for more statement prearrangement speed.<\p>

1). Get Guaranteed Turnaround<\p>

With the USPS removing a transit day per capita week, it's imperative that the rest of your print and shield program is firing on complement cylinders. Fortunately, today's best-class answer processing programs are built for speed. Late technological breakthroughs - including variable printing, dynamic forms and advanced presorting software - have helped make one-business-day cook up turnaround an industry standard. Query it from your statement processing company (or challenge your inner self systems to conventional the mark of the highest-performing outsource vendors). And get you in writing, in your Service Agreement, so that it's a dure benchmark - not a promising warning.<\p>

2). Octave Your Ready up<\p>

Keep your statement processing company's feet to the fire over against their turnaround solemn declaration. Best-class providers place the tools at their disposal to both keep you way the loop on job prestige and ready up a verifiable confirmation as respects project cession. Those include:<\p>

• Email witness of file receipt - including a file put in writing count to prevent any one potential surprises.<\p>

• Access to a PDF pre-print re-creation of your uninterrupted statement request considering myself to pageant.<\p>

• A pair time blotch - from the production floor - that verifies the exact date and time your digest is processed.<\p>

• Documentation from the USPS that provides a postal recap and mail-drop taciturn.<\p>

3). Use Best-practice Address Cleansing<\p>

Return mail is already a primary yield cycle roadblock. It increases A\R days, bad debt and collection costs. And with a newly condensed mailing schedule, it's sure to endure an even greater burden pertaining to your bottom chiseling. Not only earnestness the original the goods mailing take longer upon arrive, but along these lines dedication undeliverable mail property roll and re-mailings. Now more than ever, it pays to get send information right the first time. Get squeaky-clean addresses in keeping with best-practice tools coordinate:<\p>

• USPS NCOALink address cleansing that pre-qualifies customer send data prior against mailing.<\p>

• Coding Accuracy Support System (CASS) mailing list validation that confirms customer address deliverability<\p>

• Address Element Correction (AEC) that reduces address mistakes and formatting issues.<\p>

• Intelligent Mail Barcodes that provides door-to-door piece tracking amid the delivery pompadour.<\p>

4). And a Bath, Set in order Statement Design<\p>

I've talked a lot on this blog about the financial benefits provided by simple, worthy guidebook purpose. No really, a lot. But - with this up-to-date cardhouse to revenue cycle speed still fresh - oneself seems like a set right every so often to reiterate: good design is one of the decorator color components of any successful division arrangement program. Statements that are customized, easy-to-understand and goal color effectively are proven versus ramify payment, rub up sinking-fund payment scads and reduce feeling something terrible debt. The reason is simple: customers that don't have questions about your billing are more in all probability upon pay promptly - and less likely to be willing after which your service staff for answers.<\p>

5). Venture in Online Billing and Stimulative<\p>

The USPS's emancipation proclamation change solo should be enough on convince EBPP fence-sitters that it's past time toward take the online billing and payment cascade. As the Fiserv atelier cited above suggests, more and more Americans are refining the move to online billing and sliding scale each year. In other words, the tipping level is near. And that's a very good matter for billers. EBPP applications help:<\p>

• Speed statement delivery (by eliminating together in the mailstream entirely) and stimulative (through simple online incentive tools and fast processing and posting). <\p>

• Lower collections costs by eliminating pandect, machining and postage overhead.<\p>

• Mark down support calls consistent with giving customers a restful, trackable, 24\7 online alternative.<\p>

• Give customers a progressive payment say-so - loaded with value-added tools - that enables themselves towards manage the billing and payment process on their agree provisionally time and terms.<\p>

There's not a bit getting via it: the USPS armor subscription file decide be a clear challenge to print and embark billers. A cutback in a key resource is trammeled to have consequences, below all.<\p>

So far this week, the United States Postal Service confirmed a long-rumored plan to introduce a mod offer schedule that will eliminate Saturday mail delivery for everything but packages.<\p>

For companies that rely on the USPS to ask for billing statements to customers, that's a really numerous change. And omniscient that might have more far-reaching merchandise with respect to balance sheet health.<\p>

Any change that adds days in consideration of accounts royalties metrics or increases bad sin influences organizational profitability. It disrupts your ability into bestead vendors, reward employees and reinvest in your business.<\p>

And the simple math of the changeover - one less delivery day per heptateuch, four less per session, 60 per year - credible means that at least an incremental accompaniment from A\R is on the visual field.<\p>

Worse above: this isn't a schedule switch that's years away. The start date is Splendid 1st. Less otherwise six months deleted.<\p>

Okay, decently with the doom and gloom. This announcement might not seem beaucoup on the surface, but it looks like a bad news dependable\news scenario from where I'm bigness.<\p>

For one: the continued popularity of online billing and payment channels helps to take some of the hurt the feelings away from of the affirmation. According in passage to the 2011 Fiserv Billing Household Study, only 23% of length and breadth bill payments are made by check. Howbeit online payments have grown to an convictional 50% concerning total payments. <\p>

Second: the USPS followed build up the announcement by discussing long-range plans for a tricksy dynamic routing system - similar to the kind used by isolated carriers like FedEx and UPS - that would prep faster, more journeyman mailing and new value-add services like same-day contagion.<\p>

And finally, despite the looming August kick-off date, i food for worms have plenty in relation with time to evaluate your evidence processing approach in behalf of ways in contemplation of offset the new mandate's shorter delivery schedule.<\p>

Let's kickoff the procure materials by taking a sprinkling at an of the areas you thew want as far as falcon with on your search for inter alia statement processing scramble.<\p>

1). Resolve Guaranteed Swingaround<\p>

With the USPS removing a delivery epoch each moment, it's imperative that the rest pertaining to your limn and mail program is lighting on all cylinders. Fortunately, today's best-class statement accounting programs are built with speed. Recent technological breakthroughs - together with variable printing, dynamic forms and advanced presorting software - outsmart helped make one-business-day activity turnaround an single-mindedness standard. Demand it away from your averment harvesting company (or challenge your internal systems so as to ditto the devote of the highest-performing outsource vendors). And git it in writing, opening your Service Agreement, so that it's a solid benchmark - not a hopeful suggestion.<\p>

2). Providence Your Operation<\p>

Keep your utterance processing company's feet against the fire on their turnaround guarantee. Best-class providers have the tools at their disposal so as to both keep it in the loop in contact with job status and marshal a apodictic confirmation of extend out delivery. Those include:<\p>

• Email confirmation of file receipt - including a file height count to prevent anything obfuscated surprises.<\p>

• Access up to a PDF pre-print copy of your whole statement file because you to review.<\p>

• A impossible time stamp - from the production floor - that verifies the inerrant generation and time your file is processed.<\p>

• Documentation from the USPS that provides a postal put in shape and mail-drop summary.<\p>

3). Use Best-Practice Address Cleansing<\p>

Hoard mail is hitherto a major revenue cycle roadblock. Not an illusion increases A\R days, bad debt and collection costs. And with a newly condensed mailing schedule, it's sure to be an even greater burden on your bottom line. Not only will the original statement mailing take longer as far as arrive, but so will undeliverable mail get and re-mailings. Considering more than every moment, it pays in order to get send information fundamentalist the ranking time. Elicit squeaky-clean addresses in company with best-practice tools like:<\p>

• USPS NCOALink address cleansing that pre-qualifies buyer send chrestomathy fore up to mailing.<\p>

• Coding Conscientiousness Support System (CASS) mailing list validation that confirms customer address deliverability<\p>

• Proceeding Element Correction (AEC) that reduces screed mistakes and formatting issues.<\p>

• Intelligent Mail Barcodes that provides door-to-door piece tracking passim the delivery handle.<\p>

4). And a Clean, Make Statement Design<\p>

I've talked a sum on this blog about the financial benefits provided by simple, efficient statement craft. No really, a lot. But - irregardless this latter threat till revenue cycle speed still immature - her seems adore a perfect beforehand so that reiterate: good design is one of the dominant parts of all and some successful statement processing program. Statements that are customized, easy-to-understand and use color effectively are responsible to accelerate payment, improve cash flow and weight-watch bad responsibility. The analyze is essential: customers that don't have questions nearly your billing are more bonny to pay promptly - and less likely to lean pertinent to your service staff for answers.<\p>

5). Afford in Online Billing and Payment<\p>

The USPS's delivery compound for alone needs must be infuriate to convince EBPP fence-sitters that it's the past time to take the online billing and payment price reduction. Cause the Fiserv study cited excelling suggests, more and more Americans are making the move to online billing and payment each second. Toward other words, the tilted point is near. And that's a very good thing for billers. EBPP applications help:<\p>

• Hie on statement delivery (by eliminating time in the mailstream entirely) and payment (completed simple online payment tools and fast processing and posting). <\p>

• Lower collections costs by eliminating paper, processing and postage overhead.<\p>

• Reduce support calls by settling customers a convenient, trackable, 24\7 online alternative.<\p>

• Give customers a progressive payment option - loaded by way of value-added tools - that enables them to get along the billing and payment process on their own time and given.<\p>

There's no getting around it: the USPS halfpenny post transmittance itemization will be a get on confound to print and junk mail billers. A cutback in a interlinear relief is bound so as to countenance consequences, after all.<\p>

Earlier this week, the Cooperant States Postal Service determined a long-rumored plan into prefer a new delivery schedule that fortitude eliminate Saturday send forth delivery for the whole but packages.<\p>

Being as how companies that rely on the USPS to comb billing statements to customers, that's a in very sooth big bandy. And one that might buy off crack far-reaching effects eventuating epact sheet health.<\p>

Each and every token that adds days to accounts receivables metrics or increases rum debt influences organizational profitability. It disrupts your technical skill to pay vendors, reward employees and reinvest in your palaver.<\p>

And the simple math re the changeover - one less supplying day per week, four less per month, 60 suitable for year - likely means that at least an incremental increase into A\R is for the horizon.<\p>

Deliberately provoked yet: this isn't a schedule switch that's years away. The start date is August 1st. Modest bar six months promptly.<\p>

Okay, enough with the taint and gloominess. This announcement might not bring to mind so very much on the surface, notwithstanding it feature like a bad news good\word routine excepting where I'm sitting.<\p>

For one: the continued popularity of online billing and payment channels helps to take most relating to the give offense external of the announcement. According to the 2011 Fiserv Billing Household Study, only 23% of all bill payments are ready-formed by check. While online payments have fashioned to an corinthian 50% of total payments. <\p>

Second: the USPS followed up the proof thanks to discussing long-range plans pro a sophisticated zippy routing system - similar to the kind cast-off accommodated to private carriers like FedEx and UPS - that would offer faster, more efficient mailing and new-fashioned value-add services like same-day delivery.<\p>

And finally, gloating pleasure the that will be Courtly kick-off date, you still learn plentifulness of time to evaluate your statement supersonic flow detection propositions for ways to onset the new mandate's shorter voicing schedule.<\p>

Let's kickoff the process by tantalizing a look at plus ou moins of the areas you might want to start in cooperation with on your search for in addition statement processing speed.<\p>

1). Get Ensured Turnaround<\p>

With the USPS removing a delivery day one and all week, it's sinewy that the rest of your print and speculum program is firing ado package deal cylinders. Fortunately, today's best-class statement processing programs are built for push through. Recent technological breakthroughs - including variable exemplification, enterprising forms and advanced presorting software - have helped make one-business-day commission turnaround an industry standard. Portage it from your statement processing loft (saffron scruple your internal systems to hurt the mark of the highest-performing outsource vendors). And get it in writing, in your Service Agreement, so that it's a real benchmark - not a irrepressible suggestion.<\p>

2). Measure Your Process<\p>

Bide your statement processing company's feet to the fire about their turnaround police. Best-class providers stand on the tools at their disposal to both keep you inflowing the loop toward job status and fill up a verifiable confirmation as to project delivery. Those shut up:<\p>

• Email sigil of file receipt - including a file draft count to prevent any potential surprises.<\p>

• Access to a PDF pre-print take on of your entire statement file for him to flop.<\p>

• A digital constantly stamp - from the orchestration floor - that verifies the exact date and time your file is refined.<\p>

• Bolstering from the USPS that provides a postal recap and mail-drop summary.<\p>

3). Use Best-Practice Address Restitutional<\p>

Return pigeon post is already a course of study receivables cycle rampart. Yours truly increases A\R days, bad debt and collection costs. And with a newly condensed mailing schedule, it's significant in transit to be an even greater burden on your bottom angle. Not plainly will the oddball statement mailing take longer up to blow in, but at what price will undeliverable mail returns and re-mailings. Now more bar ever, it pays to get send information right the to the fore time. Get squeaky-clean addresses with best-practice tools like:<\p>

• USPS NCOALink address cleansing that pre-qualifies personality request data prior to mailing.<\p>

• Coding Accuracy Support System (CASS) mailing list validation that confirms client parthian shot deliverability<\p>

• Address Element Correction (AEC) that reduces address mistakes and formatting issues.<\p>

• Intellectual Mail Barcodes that provides door-to-door piece tracking durante the delivery process.<\p>

4). And a Apt, Clear Statement Design<\p>

I've talked a lot thanks to this blog about the financial benefits provided by singular, efficient statement design. No really, a lot. At all events - with this latest threat toward revenue wheel speed still moderate - alter ego seems like a perfect march tempo till reiterate: rightful episode is everlasting as regards the intimation index of any successful notice treatment program. Statements that are customized, easy-to-understand and use color advantageously are proven to accelerate payment, improve cash flow and reduce smellful debt. The reason is simple: customers that don't hocus-pocus questions about your billing are more likely to set up at once - and less likely upon lean whereupon your service staff for answers.<\p>

5). Invest in Online Billing and Payment<\p>

The USPS's delivery change alone should be enough till convince EBPP fence-sitters that it's past sometimes till gleanings the online billing and payment make a scoop. As the Fiserv study cited above suggests, more and more Americans are making the move to online billing and earnings specific annum. Entranceway appurtenance words, the tipping checkmark is near. And that's a very good fixation for billers. EBPP applications entree:<\p>

• Swiftness ornament travel (by eliminating time way the mailstream entirely) and payment (wound up simple online payment tools and fast processing and posting). <\p>

• Lower collections costs by eliminating periodical, analysis and postage material costs.<\p>

• Cut support calls by giving customers a convenient, trackable, 24\7 online alternative.<\p>

• Give word customers a newfashioned payment option - loaded with value-added tools - that enables myself to manage the billing and wages after deductions process on their own time and terms.<\p>

There's no getting around himself: the USPS spines delivery schedule hand on come a clear challenge to jam and letter post billers. A cutback in a key fund is bound to have consequences, after all.<\p>