What is eAdoption and Why Do You Need It?
What is eAdoption?
eAdoption, short for electronic adoption, is the process of transitioning your users from paper invoices and payments to electronic. Using a variety of marketing tools and strategies, you can increase efficiency by guiding users toward the convenience and speed of automated invoice delivery and electronic payments. This eliminates the manual process of printing and mailing paper invoices as well as processing paper checks – resulting in accelerated cash flow, cost savings and increased operational efficiency.
What are the benefits of eAdoption?
Though there are costs associated with electronic adoption, those costs pale in comparison to the expenses required for paper, printing, stamps, and the labor spent sorting through paper invoices. No matter how cost-effective your print process is, the biggest cost savings occur when you don’t print and mail invoices in the first place.
Faster realization of cash
Transitioning your users to automated invoice delivery and electronic payments will also accelerate your cash flow because more of your users will be utilizing electronic channels and taking advantage of quick payment incentives. There are many studies that document the impact that eadoption has on DSO. Most show a range of DSO improvement from a 3-day reduction to 10 days with this simple change.
Greater user and AR team satisfaction
One more added benefit of electronic adoption is that your users will be happier, and your AR team will be too. You’ll be able to provide more of your users with an improved experience by encouraging them to adopt flexible, secure invoicing and payment options. The increased usage of electronic channels will ultimately lighten the workload of the A/R team – allowing them to focus on more important tasks and goals.
How does Billtrust make eAdoption easier?
The benefits of electronic adoption are endless, but these benefits don’t simply transpire once you deploy invoicing and payments software. It takes real effort and this is where Billtrust steps in to make eAdoption significantly easier for you and your team. Once you decide to take advantage of Billtrust’s Managed eAdoption Program, your team will be assigned an experienced eAdoption Manager who is dedicated to helping you achieve success. Together, you will assess your unique electronic adoption goals, create a plan, identify stakeholders, create a timeline and accomplish your goals.
The eAdoption team is made up of experts who are dedicated to your customer enablement of electronic invoicing and payments. They utilize a core of proven best practices to customize a strategic plan designed to drive conversion and meet your electronic goals.The eAdoption team utilizes a proprietary customer analytic platform known as the Billtrust Business Directory to segment and accelerate your results. You will also have 24/7 access to a metrics dashboard to see how we are doing.
Companies using the Billtrust Managed eAdoption Program drive 70% more usage of electronic invoice delivery and payments than organizations trying to do it on their own.
At Billtrust, our goal is to make our customers’ jobs easier. We are constantly searching for new ways to improve the experiences of our customers and their users. To understand how Billtrust can help you reach your eAdoption goals, learn about our Managed eAdoption Program and request a demo today!
Article by Brittney Collier, Marketing Communications Specialist at Billtrust. You can reach Brittney on LinkedIn.