Any business that regularly sends out paper statements by mail knows how difficult it is to maintain a proper billing schedule. Small businesses may struggle to send out billing statements on time if they are short-staffed, and once payments come in, it’s easy to lose things in the shuffle. Even larger businesses with greater staffing can have trouble keeping track of accounts receivable, and communication between departments can be convoluted. No where are these problems more evident, though, than for utility companies, which often serve hundreds of thousands of customers in one area.
Fortunately, however, these types of businesses can receive the help they need by outsourcing their billing services to an outside provider of statement printing, mailing, and processing, and they can even get access to electronic invoicing systems, too. So why should your company consider using a utilities billing services provider? Here are three reasons to outsource utility billing solutions:
1. Statement printing and mailing is made easy: Printing out invoices, statements, and other billing communications can be costly for a business of any size. Not only do they have to factor in the prices of paper and toner, but there is also maintenance on printing equipment as well. Even postage for mailing can be expensive for these companies. By outsourcing to utilities billing services, however, businesses just pay one charge rather than multiple routine costs.
2. Processing customer payments is streamlined: It’s easy to fall behind on billing, which can lead to phone calls from irate customers when processing on crucial utilities payments is delayed. By outsourcing to a utility billing company, a business can see their accounts receivable speed up by as much as one to three days. This creates far less frustration for customer service representatives and customers.
3. Access to online billing services is easier than ever before: Not only does outsourcing give companies access to statement printing and processing services, but it also allows them to use a fully integrated electronic billing systems. Customers can receive electronic invoices each month rather than paper and have the convenience to pay their bills any time, anywhere. Giving customers the chance to opt into paperless billing can help save the environment, and it will reduce costs of 11.5 cents per statement for a utility company.
Have more questions about why outsourcing to utilities billing services may be the right answer for your company? Get in touch with a utility billing services company to find out more, and leave a comment below with any general questions.