New Mail Delivery Standards Will Slow Payments
Below is an article from ACA (The Association of Credit and Collection Professionals). The article highlights the impact lower standards in delivery times will have on the invoice-to-cash process for businesses.
The new standards by the USPS are a double whammy in terms of its impact. First, it will take longer for invoices sent by mail to be received. This means they will take longer to get processed and paid. Once it is finally paid, the payment will take longer to be received back to the seller.
The answer is obvious, embrace a variety of electronic presentment and payment channels that create a win for both the buyer and seller.
POSTED BY: Mitch Rose, S.V.P. of Marketing