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| EBPP | ||||||
Electronic Bill Presentment and Payment is, in its simplest sense, the use of internet technologies to present bills and to receive payments. It is the entryway to many other e-business applications and is inherent to broader customer relationship management efforts. EBPP provides an end-to-end electronic transaction. It can improve customer service dramatically and build customer loyalty, while providing cost savings and revenue enhancement opportunities. The benefits are compelling and can be a value to your business and your customers. By implementing our state-of-the-art solution your business will benefit from: Direct cost savings EBPP reduces the outbound billing costs of the printing and mailing process, and the inbound costs of handling paper payments. Many companies report saving between one-third to nearly one-half of the current costs of printing and mailing bills. Customer support and cost reduction Often, customer service inquires are billing related. Some estimate that 70% of telephone- based customer support questions are billing related. A significant percentage of these cannot be accommodated through automated voice response systems. They require person-to-person dialogue with customer service representatives. These types of contact are necessary, bur expansive for companies to maintain. In contrast, EBPP can allow customers self-access to billing detail, keeping the necessary function, while reducing the costs. Increased marketing revenue potential Electronic bills are more interactive and engaging than their paper-based counterparts. Since the tailoring and personalization of marketing information on bill is more easily accomplished electronically than with paper, individualized messaging is much easier. Each time a customer views their bill online, you have an opportunity to present unique, targeted marketing messages, and a sale can be finalized within the same session. Measuring marketing effectiveness online is easy and precise and marketing campaign success or failure can be quickly analyzed. Improved customer service The concept of customer self-service is central to EBPP. Customers can view bills and make payments at their convenience. The web offers greater informational and customer service related features than a printed statement. Each item on an electronic bill can be linked to more information, bills can compare, analyzed and archived for future examination. With web enablement of existing back-end systems and security enhanced access policies, these systems can give your customers controlled access to the data they need. It is symbiotic - while you are managing your customers relationships, your customers are receiving tools to manage their relationship with you. Enhanced customer loyalty By providing customers with detailed bills, access to up-to-date account information and tools for quick problem resolution companies gain new customers and mange to reduce churn due to customers satisfaction.
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