Cash flow is complicated – but a simple way to speed it up is to move more customers onto electronic billing and payment. Paper is slow. Electronic is fast – and better for so many reasons:
- Remote workforces: When workers aren’t in the office, they can’t receive paper bills. Electronic billing and payments can be sent and received from anywhere.
- Mail slowdowns: USPS slowdowns have disrupted invoice delivery in the past and recently announced plans include increased costs and wider delivery windows.
- Payer pressure: Nearly 60% of practitioners reported that their organization is likely to convert the majority of its B2B payments to suppliers from checks to electronic payments.
- Environmental concerns: According to the Environmental Paper Network, 10,000 paper invoices cost 1.2 trees, waste 1,070 gallons of water, produce 58.9 pounds of solid waste and use the same amount of energy it takes to run 1.5 refrigerators for a year.
So, there’s a lot momentum behind converting invoices and payments to electronic means – but how does your company get there?
Changing buyer behavior takes dedicated resources, time, and work! Businesses are challenged to find the time to reach out to their customers with the necessary encouragement and instruction to sign up for their online portals.
How does your company get there?
Billtrust is dedicated to helping you convert your customers’ invoices and payments to digital channels. Our dedicated team of digital adoption experts has developed a robust set of best practices and completed numerous campaigns to accelerate our customers’ success.
Digital adoption experts: To support your goals, our dedicated team will begin with an in-depth consultation. We ask the right questions, develop a custom strategy for your customer base and educate your team on best practices.
Analytics for targeting: Billtrust leverages 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 use this targeting data to drive faster, more effective campaigns.
Managed email and phone campaigns: Billtrust designers create highly effective emails, inserts and calling campaigns that match your company’s brand identity. Our team runs the campaigns for you, emailing and calling your customers with targeted language that drives home the advantages of converting to electronic billing and payments.
Accelerate your cash flow
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