A large Pest Solutions company was printing and mailing statements in house on an 8 ½ x 11” sheet of paper with an outer envelope. The company was noticing that the payments were taking longer and it was costing more internally to produce their bill. When a suggestion was made to insert a return envelope into the statement bill, the company failed to follow through, which would have allowed their customers to quickly send in payments.
CTP Solutions was referred in to prepare a cost analysis on the time, labor and materials cost and as a result, the company decided outsourcing was the best option. CTP positioned the outsourcing to save the company 40% on first class postage and offered a very cost effective solution for printing and mailing bills. The design and beautification of the invoice now uses less paper and offers new options for communicating with their customers.
The decision to switch from their manual internal billing procedures to CTP Solutions has been one of the best decisions this service – based business has made. It has reduced their overall expenses and increased the speed of cash-flow as well as online payments. Efficient billing goes hand in hand with electronic billing capabilities. With the increased adoption rate by their clients to online payments, this has added further cost reductions to the overall billing process while adding a “Go Green” initiative, which recognizes this company’s commitment to helping the environment by using less paper.
This is an example of revenue cycle management at its best for this leading pest services provider. The employees that were preforming the work of printing, folding, inserting, sealing and placing postage on the bill envelope now have more time for customer service and sales. They can now focus on improving their cash flow functions by dealing with pest problems and solutions by moving away from time spent on their printing and billing functions.
In our current society, consumers still may want a paper notice as a reminder to pay a bill. However, consumers are more open to paying online, as well, especially if it is more convenient and less expensive.