To add to the problem, the monthly statement is the only chance many companies have to interact with their customers, yet it's nearly impossible to include precisely targeted or even personalized statement stuffers. No matter what size your business is, emerging alternatives will save you from having to print statements, pay for postage, and dedicate large numbers of people to processing payments. You'll be able to streamline most of the process by billing your customers electronically, thus reducing your overhead while improving customer relations. EBPP takes your site miles beyond the mere ability to accept secure credit card transactions, letting you present bills and collect payments over the Internet. No more checks lost in the mail.
Customers can review statements online and transfer funds instantly.
The obvious benefit of EBPP to your company is cost savings. Billing electronically typically saves a company about 25 to 30 percent per statement, according to most players in this market. The Derivion system converts a company's invoicing and accounts-receivable data into data that can be shared with major bill presentment systems. This significantly expands the potential EBPP market but remains beyond the reach of many small businesses. Derivion is working with several small-business portals to provide a more automated, less expensive solution that should be available later this year.