Does your company deal with accounts receivable every month? Do you find that too much of your budget is allocated for printing and mailing services? Could your personnel be handling other, more crucial business tasks? If you answered yes to any of these questions, there is a solution that can help you handle your customers’ monthly statements: outsourced billing for your company.
Many people hear the word “outsource” and think of the negatives: sending jobs overseas or not having a hands-on approach to one’s business. However, there are plenty of outsourcing operations right here in the United States, and many of them can actually make business run more smoothly on a daily basis. Outsourcing billing practices can give businesses expert advice on their customer correspondence, and they can even increase the timeliness of cash flow by as much as one to three days — maybe even more.
Are you considering outsourcing your billing? Here are three features you may want to look for when you choose a qualified company to handle these essentials:
1. Statement Printing and Mailing Services: It’s no secret that postage is expensive, but so is printing supplies, too. Everything from paper and toner to the equipment used for printing can cost thousands per month in maintenance, which can be far too expensive from small and medium-sized enterprises. Companies can reduce their costs by approximately 11.5 cents per billing statement if they outsource.
2. Statement Processing Services: It’s easy to get backed up when your own employees are handling the statement processing for customer bills. This is especially true when those workers also have to perform other business or customer service functions, as well. By outsourcing statement processing, your accounts receivable can see greater cash flow, and your employees can focus on other tasks instead.
3. Online Billing Services: Thanks to the internet, many billing customers today don’t even have to reach for the stamps and envelopes to pay their bills. An online billing system can give customers the convenient option to pay their bills 24/7, and it reduces the amount of time your company spends processing statements. Using an outsourcing company to provide you with this technology can also give you and your clientele access to electronic invoicing and archiving systems.
Do you have more questions about outsourcing? If so, don’t be afraid to contact a company that provides this service. Read more here.