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Higher adoption rates equal a higher ROI ...
Electronic Bill Presentation and
Payment (EBPP) systems clearly
reduce expense. Vendors of
EBPP systems and consultants are
unanimous in identifying the
following as ways EBPP can save you
money:
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Increase in
cash flow; customers get
bills faster and pay faster |
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Reduction in
customer service expenses,
by enabling a shift to
self-service customer support
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Reduction in
the operating cost associated
with generating and sending
bills and statements |
The
potential for savings in these
areas is great, but the reality is
often much different. Many
companies, after spending
extraordinary amounts of money to
implement a system, fail to
realize the savings they expected
from EBPP.
Why? The common denominator in each
of these areas is that they are
dependent on customer behavior.
Customer self-service doesn't
reduce expenses if customers don't
use it. And electronic
billing and payment are only
effective in reducing expenses if
customers accept them as viable
alternatives to the paper methods
they currently use.
The
CTP Solutions eServices EBPP solution is
focused on the needs of the end
user, the bill payer. In addition
to the standard electronic delivery
and payment functions present in
most systems, our solution has four
features which are designed to
make electronic bill payment
easier then paying with paper.
Features not found in other EBPP
systems.
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Electronic bills look exactly
like printed bills
Documents stored in eArchive are
a faithful reproduction of
the bills you print and send to
your customers. This means the
customer doesn't have to learn a
new billing format or translate
from their paper bill to an
electronic one. Like most
businesses, you have probably
spent a significant amount of
time and money insuring your
bills contain all required data
and are easy to understand.
An EBPP system should not force
you to throw that investment
away.
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All
billing documents are maintained
in an online archive
Billing
documents for the period are
stored in eArchive and are kept
there as long as you like.
This insures that customers who
want to get information
about current or past period
bills can get it from your EBPP
Web site without needing the
intervention of a customer
service agent. And since
the information is a replica of
the bill your customer is used
to receiving, there is
minimal chance for confusion.
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The delivery and payment
processes are totally separate
With
most EBPP solutions
when the customer enrolls for
electronic delivery, they are
required to pay electronically.
This presents problems for bill
payers concerned about placing
payment information on the
Internet. We have alleviated
this concern by totally
separating the delivery and
payment processes. The
customer can choose to receive
their bill electronically and
pay with a paper check.
How do we accomplish this?
Since the electronic and paper
bill, are identical the customer
can print the bill they receive
electronically and then send the
coupon portion with a check. All
payment information including
lockbox fonts and other payment
processing information is
properly rendered to insure the
payment is processed through the
paper payment system
successfully.
Customers can also elect to
continue receiving their bills
via mail but pay electronically
using our Pay Now feature. Of
course the customer can choose
an all-electronic option
including setting up rules for
the automatic payment (auto pay)
of bills.
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Customers can view and pay bills
via secure e-mail
The
final feature of the CTP Solutions EBPP
service which sets us apart from
others is secure bill delivery
with e-mail reply auto pay.
If the customer chooses they can
have bills sent to them as an
encrypted e-mail
attachment. And, if they have
enrolled for electronic payment
and selected the e-mail auto pay
option, they can pay the bill by
responding to the e-mail
This gives your customers the
ability to receive, review, and
pay their bill without leaving
the comfort of their e-mail
system.
To insure a customer never
misses a bill we have developed
technology that enables us to be
certain about the delivery of an
e-mail to the payers electronic
post office. If for some
reason an e-mail is rejected,
your customer service receives
the bounced e-mail and the
problem is documented on the
"Could Not Deliver" report.
A
Return On Investment (ROI) has two
factors; income or reduction in
expenses which can be realized
through the investment, and the
investment itself. We have
discussed the benefits, now, let'
talk about the size of
the investment required.
Your
investment in an EBPP system has
three components: the initial cost
of the solution, the cost of
implementation and the subsequent
cost to operate it. Since
the CTP Solutions solution is a
service not a software package it
doesn't require a large capital
investment. The CTP Solutions
implementation expense is a
fraction of what you might pay for
competing services. After examining
our low monthly cost and high
quality service, we think you'll
agree there is no better value
anywhere, at any price.
To
calculate the return on the
investment you would make in an
CTP Solutions EBPP solution.
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