According to NACHA, some 54% of American households use electronic billing services for at least one recurring payment every month. Of that group, 84% say that they are satisfied with the process. That fact, combined with the constantly growing and evolving digital marketplace, means that businesses who want to provide the best customer experience possible will need to make sure that they can handle online payments. Though that might sound easy to the average consumer, there are many complexities and challenges involved. As a result, many owners and managers will choose to partner with utility billing services who can provide both information and infrastructure that help make handling payments simple.
Working with billing companies is important because, quite simply, providing online billing to customers is important. Online statement processing allows customers to view, print, archive, and pay bills and can help to alleviate frustration and lower the amount of problems and phone calls businesses have to deal with. So from a basic convenience standpoint, using online billing systems is a smart choice.
On top of that, electronic billing could actually help save money. Though there might be some initial costs to converting or upgrading computer systems, in the long run, it could be less expensive. Without electronic statement processing, businesses will have to spend money on printing, paper, and mailing every year to make sure customers get the paperwork they need. Those costs can add up to surprising totals. By converting to electronic billing and statement processing, businesses can cut those out of their budget and allocate resources to other areas.
As an added bonus, making the switch to electronic billing can help a business go green. Reducing the amount of printing and paper that is used will not only help save money, but can also lower environmental impact. Beyond just the moral benefits of that, it can help businesses build a better brand.
Today’s marketplace relies on the internet and electronic services to function as accurately and efficiently as it does. It is almost always great for consumers, but businesses who want to take advantage of it and help ensure success face many challenges. Because of that, the companies that provide electronic billing services are a great resource. They are a great tool for any company who wants to make sure that they do not get left behind by the marketplace because they can’t handle online billing.