#statement processing company

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>