Cost Reduction for your Billing
Transform your accounts receivables from an expense to a profit center
The Bill My Way system reduces your costs. Our solution can help you save money and time, create options for the customer, and reveal opportunities to recoup expense. If you pass on that line of thinking, you can still save in many ways — even if you are currently outsourcing your invoices.
Let’s look at the cost of producing invoices. The billing information collected by using your industry specific software, generic software, home grown software, or a simple spreadsheet will not change, although we may help simplify this bookkeeping task.
Save on Paper
The cost of paper goods will be lower with Bill My Way. Economy of scale; Our purchasing power is based on the millions and millions of perforated paper sheets and envelopes we purchase each year.
And we do not sacrifice on quality. Bill My Way prints invoices on quality 24# micro-perfed paper, and uses quality envelopes. The outside envelope and inside return envelope are 24# and have privacy inside tint to keep personal information private. Our paper products are not only cheaper they are probably better than what you are currently using.
Save on Printing
Most companies overlook the real cost of actually producing invoices after paper product. For some companies it is the cost of a durable laser printer and the cost of toner which is often 3 cents per click. If the printer is under a maintenance contract, it can be as high as 5 cents per click. Other companies, are still using dot matrix printers. These take a beating when creating billings and more often than not the ribbon is so worn the pages printed later in the cycle are challenging to read. And some dot matrix users create a hard copy as a backup copy creating an additional cost of 2 part paper and storage. Dot matrix printers are rapidly disappearing as is the ability to obtain ribbons. The actual cost is hard to determine but is easily in excess of 5 cents per sheet just for the printing process.
Save on Space and Personnel
Other costs in the printing process are footprint and personnel. The larger the invoicing task the more footprint is needed. The smaller the paper tray the more often personnel need to tend to the printer. Paper jambs DO happen. Toner DOES run out. Pin feed dot matrix printers, especially when using multi part paper fall or the sprockets, ribbons break or simply run out of ink. What about separating part 1 and part 2 of 2 part forms!
The mechanics of an invoicing job are also costly.
Invoices first need to be folded. And, what about multiple pages? Now it definitely becomes a manual process—more cost. The actual folding either by hand or machine is also an expense. Machinery needs to be maintained and more often than not requires trained personnel. What about the footprint; the space this equipment takes up? Ditto for the actual inserting, sealing and affixing postage. Machinery costs, trained personnel, and space requirements typically add as much to the cost of mailing your billing as the postage itself. If machinery is not involved there are still the space and personnel requirements.
Another cost driver that can be higher than all costs combined, including postage, is “Special Manual Processing”. This may include removing low balance invoices, special markings of past due invoices, and markings for other special considerations. Often we hear “We need to do this manually”.
ATTENTION SUPERVISORS: The amount of time this takes is extraordinary. It often DOUBLES your invoicing costs.
The Bill My Way system can do this for you automatically.
Hidden costs are often disruption of workers routine, postage meter ink, toner & ribbons, loss of footprint for other uses, demoralized personnel, additional manual effort for “Special” cases.
Our system takes care of all these issues and more. Whether we change your accounts receivables from a cost to a profit center, or just help get the job done we will save you money and will enhance your cash flow by fast delivery of paper invoices and the use of email, fax and online payments.
Let us help you with your invoice processing.