The mail is getting slower – paper invoices and payments will follow
Cash flow slowdowns can come from any direction, both internal and external – but a major slowdown is coming from the mailbox.
Effective October 1, 2021, the United States Postal Service is planning to move forward with adjusted service standards (SLA) including First-Class Mail® and Periodicals.
The modified service standards will change from the current 1 – 3 day delivery to a 1 – 5 day delivery within the continental United States.
Modifications being made also include changing the postal network to primarily surface transportation instead of air.
What postal slowdowns mean for businesses
For businesses that rely on paper invoices and mailed checks, a mail slowdown is a double whammy.
- Paper invoices may take longer to reach your customers, reducing the time they have to process them.
- Paper checks may take longer to be delivered, slowing your company’s cash flow.
What can businesses do to protect their cash flow from postal slowdowns?
Electronic invoicing and payments completely bypass the postal system. Billtrust can help your business move more of your customers to online transactions.
The Billtrust eSolutions team are digital adoption experts that have created a robust set of best practices and completed numerous campaigns to accelerate our customers’ success.
When you work with Billtrust, we leverage proprietary data to determine which of your customers are most likely to convert to electronic billing and payments and which would be most impactful for your business.
We’ll also complete targeted email campaigns that match your company’s brand identity. Our team runs the campaigns for you, emailing your customers about the advantages of converting to digital channels.
Accelerate your cash flow with digital channels
With dedicated Billtrust experts doing all of the work, your team can remain focused on what you do best.
Electronic adoption leads to:
- Faster cash flow – reducing DSO
- Less paper and phone calls
- Payment on your terms, while still offering customers flexibility
- Reduced fraud
- Quick and easy cash application
And you’ll avoid some of the major pitfalls of paper-based billing and payments. No winter storm has ever slowed an email and USPS turmoil has no effect on ACH or credit card payments.
Results from partnering with the Billtrust team
- 72% average success rate in electronic invoicing signups
- 3 – 5 days faster invoice delivery
- 2x the number of electronic payments
Convert your customers to digital channels
Are you interested in learning about how Billtrust can help convert more of your customers to online billing and payments? If so, please fill out the contact form.