2. Reducing time and cost of getting paid! What we do Background Reducing time and cost of getting paid Customer Contact Payment Process Opportunities for Savings Demonstration Cost Perspective Billing Payment Conclusion
10. Billing and Payment – Frequent Contact Phases of a Sale Recognition of needs Evaluation of options Resolution of concerns Purchase Implementation Follow-up/ billing and payment contacts By Nature – Confrontational Relationship Source: Rethinking the Sales Force by Neil Rackham and John DeVincentis
11. Billing and Payment Process … more than administration!! More than getting paid! Maximize Customer Reciprocal Value Customer Satisfaction The difference between the value that a customer gets from a product and service, and what it takes for the customer to get it. Client Profitability The price that the business receives from the products/services sold minus the cost of customer acquisition, goods sold and client retention; plus/minus the time value of money.
18. Integrity Principle Structure and Accountability Sales/service organization structure Core competency leverage and supplement Resource responsibility and focus Empowerment People Motivation and Measurement Sales Reporting Performance Management/Development Sales/Marketing Program Effectiveness Channel Effectiveness Purpose Communication Defined mission Two – Way message clarity Target market identification/valuation Contact Programs - Sales/Billing/Payment
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20. Extrinsic Value - not inherent; not a basic part or qualityLikeability– You are attractive and easy to do business with. Credibility– You know what you are talking about. Dependability – They trust that you will deliver on your promise.
21. The Enterprise Through the Window of Billing and Payments What systems do you have in place today?
22. Benefits of EBPP for the Enterprise Areas of Opportunity: Reduce billing and payment processor costs and where appropriate generate revenue Eliminate labor-intensive functions associated with the collection and processing of payments Automate updating of AR systems delivering key data across the enterprise Strengthening control and consistency of EBBP across the business Accelerating cash flow Enable multiple bill delivery and payment options (web, call center, IVR, mobile, etc.) Leveraging marketing and cross sell opportunities through the billing and payment contacts Facilitating regulatory compliance
29. ePayment Costs Payment Gateway Installation $0 to $5000 # of users/departments Volume Customization Recurring(minimums may apply) $.25 - $.50 per transaction processed Other volume related fees (mailing letters/emails, returns, etc. Processor Fees ACH/Check - $.25 Private label debit card - $.25 to $.50 Pinless debit – $.75 (if applicable) Visa/Mastercard debit card – 1.60% + $.25 to $.50 Visa/Mastercard commercial credit card – 2.25% + $.25 to $.50 Visa/Mastercard credit card – 2.40% + $.25 to $.50 American Express – 3.25% + $.25 to $.50 Apply industry best practices!! Savings 89% Cost of a $250 payment : ACH = $.75; Visa/Mastercardcredit card – $7.00
30. Conclusion The EBPP savings seem to be “self-evident”?!?!?!?!? Emailing … 75%!!!! ACH vs. Credit Card …. 89% Why haven’t we done it? Lets get it done! Assess RFP or recommendation Decision Project Management Ensuring results Did not know there were solutions. Too busy doing to be researching. How would we manage the implementation?!? Will Customers really change?
31. The Opportunity is Yours!! We start We wait It Costs You Did not know there were solutions. Too busy doing to be researching. How would we manage the implementation?!? Will Customers really change? Invest in Reciprocal Customer Value, Today!!!