Jamesburg, NJ, June 1, 2011 – To help companies transform their billing operations from a recurring expense to a strategic asset, Billtrust, the leading outsourced billing provider, today unveiled BillingWellness.com. Hundreds of companies have applied the proven concepts of Billing Wellness to slash billing costs while speeding bill payment and solidifying customer relationships.
The Billtrust sponsored Billing Wellness site is an interactive resource designed to help finance professionals identify ways to cut costs, increase cash flow and nurture customer relationships. The site provides self-assessment tools, research and other resources for financial managers and executives to evaluate their existing processes and drive greater business value in the billing process.
This is the latest effort from Billtrust to help raise awareness and adoption of strategic billing practices. The company has already helped businesses across many industry sectors apply the strategies and tactics proven to achieve Billing Wellness while positively impacting their bottom lines. According to a recent survey from Billtrust, two thirds (67 percent) of financial executives view the billing function as a utility, while only a third see it as strategic.
While it remains one of the only forms of communication many businesses have with their customers, 64 percent of respondents said that billing either hurts or has no impact on customer relationships. This data points to the fact that many billing executives are unaware of the hidden value in the billing process and the damage bad billing practices can have on costs and reputation. “For many companies billing has become such an afterthought that they don’t know when they have a problem and they certainly don’t know how to take advantage of the opportunities in the process,” said Billtrust CEO Flint Lane.
“We’ve seen unhealthy billing practices so often that we’ve actually named the syndrome Chronic Billing Disorder or CBD. With a more strategic approach to billing businesses can eliminate CBD and achieve Billing Wellness. We have helped hundreds of companies achieve Billing Wellness over the years and with this new site our goal is to make even more businesses aware of the syndrome and the solution.” The Billing Wellness.com site provides visitors with tips, tools, and strategies for better billing. Visitors can evaluate their billing practices by taking a “Billing Stress Test”. Further, the site
Headquartered in Hamilton New Jersey, Billtrust is the premier provider of automated invoice-to-cash solutions. Billtrust integrates three key areas of the invoice-to-cash process: presentment, payment, and cash application, helping its clients connect with their customers and cash while strengthening their revenue and cash flow. Working with more than 1,200 North American businesses across B2B and B2C markets, Billtrust’s comprehensive offerings help its clients solidify customer relationships, increase productivity, improve cash flow, and seamlessly migrate to electronic channels.