#statement processing speed

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>