Utilities: everyone has to pay for them, but billing them can sometimes be a hassle. Because so many people need to pay their bills — generally at the same time each month — billing cycles can get pretty backed up if that department isn’t functioning as it should. In-house billing can also be incredibly costly, so businesses are usually losing money if their accounts receivable just aren’t keeping up with the cash flow. Fortunately, however, there is a solution that utility companies can use, which is to outsource to utilities billing services for comprehensive invoicing and statement processing solutions.
What can a utilities billing services company do for your business? Whether you’re struggling to keep up with customer demands or simply looking for ways to save money, here are three distinct advantages that you might see when you switch to outsourced billing services:
- Efficient Statement Printing and Mailing Services: Printing invoices to send to customers can be incredibly costly for a business, especially when they’re paying for toner, paper, and machinery to do the job. Outsourcing to utilities billing services can offset those costs because a business will only have one bill to pay. Employees who may work in billing currently can handle other tasks, such as customer service or statement processing.
- Faster Statement Processing: If a sole proprietor or even dedicated billing department just can’t keep up with processing those statements, then this service can also be outsourced. Utility billing services can handle these tasks, so you can speed up your company’s cash flow by as many as one to three days. This also keeps customers happy because they won’t have to wait for their checks to be processed.
- Convenient Online Billing: Not everyone wants to send paper checks through the mail since this method costs money in postage and takes more time. Instead, online billing services help customers pay their bills from anywhere at anytime. This service has advantages for businesses, as well. By switching customers to electronic invoicing from paper billing, companies can save approximately 11.5 cents per statement, on average.
Have more questions about what you can get from a utility billing services company? Leave a comment below.