In the 80s and 90s, everything involved mailing service. Even the movies we watched had some scenes with “The mailroom.”
The sheer workflow of the mailing organization in those times was so much that it required massive employees and labor.
As email was introduced, attaching documents without postage and printing charges became rapidly popular.
So, as time progressed, where did the department go?
Where are the services? Are they not needed anymore?
The services have become somewhat obsolete. Thus, now rather than a mailroom, we see outsourced mailing and printing services.
Let’s know more about the Statement processing printing service in detail.
What is a statement processing service?
A process involving just ink on paper, statement printing and mailing services seemed like a complicated task.
The process includes statement design consideration. Later the steps involved are building complex print software, verification standards, file transfer to be added, approval of the file, and postal processing.
This final statement printing is done once and for all.
Statement processing entails printing and mailing, bill design, return mail management, disaster recovery, etc.
Properly executed statements accelerate receivables, increase cash flow, lower bad debt, and reduce collection costs.
Statement printing should specify all information without confusing or complicating your customers. The information stated should be easy to decipher and accurate.
A good statement depends on the customer’s expectations and the billing demand.
The primary things a statement printing service should entail –
- simple payment format,
- account call-out box,
- intuitive transaction detail,
- easy billing instruction, and
- your brand elements.
How does the service benefit you?
If your company or business involves billing correspondence to customers quickly and effectively, statement printing and mailing is the service you need.
Let’s discover all the benefits you can incur from statement mailing & printing services.
1- Distribution of New Responsibilities
The biggest concern for businesses with this outsourcing service is that it might lead to layoffs.
You won’t have any layoff issues if it’s a small enterprise or a large business firm. Outsourcing mailing services are still required in billing correspondence.
The business might train the employees with new responsibility distribution if mailing statements or invoices are not continued.
As mailing departments have shifted from being the core duty of the business, outsourcing these services is the best method.
You can encourage your mailing department members towards new responsibilities and focus on the core principle better.
A layoff isn’t the ideal option; outsourcing statement printing and mailing service with a mailing services center gives profitable returns.
2- Less Risk Involved
Keeping the entire statement processing in-house inherits a lot of risks.
It’s impossible to control your employees completely, even if a thorough inspection is done for printing and mailing services.
In simple words, a mistake is bound to happen.
A correspondence via mailing service provider is a HIPAA-compliant delivery method because of Conduit Exception Rule’s regulations.
Authorized organizations of mailing services follow all rules because they’re transmission-only services.
Thus, a statement with printing and mailing service providers reduces internal risk.
3- You Save Money
Simply said, you are losing money if you are not outsourcing your statement mailing processes.
Let us understand it in more detail.
If its in-house outsourcing and your employees make mistakes in the process, say in address. The whole rectifying process will cost you money.
If your customer moves or the address doesn’t exist, it puts a hold on all receivables processes, and you lose a lot of money.
Outsourcing printing and mailing service through a provider overcomes all such shortfalls, and you save money.
Their services include a massive database with a tracing address method that speeds up the process. You also get to save on postage and resending costs.
4- Day Sales Outstanding gets shortened
This point relates to the previous point. However, looking for statement mailing and printing services elsewhere affects your daily sales outstanding (DSO) positively.
With outsourcing services, you also have the option to add on other services that can speed up the payment process.
Most service vendors offer an online payment portal, benefiting your organization.
If it’s mailing services, the payment process might take days to process and be more delayed in case the customer is not tech-savvy.
Rather thrmailing service vendor attaches a direct URL & link in the mailed statement. The simple instructions can make it easier.
5- Customization without the addition
The overall design of the statement matters, that’s no doubt.
Adding a personal touch to the billing statement isn’t easy. It should look modern with eye-catching typography and emphasized colors and information.
A personal customization addition with an in-house printing service is an extra cost you will have to incur.
When you outsource your statement services to an outside provider, they take care of design customization.
Your business or company will be lime lighted in their customization; thus, your customer will be assured of the authenticity of the statement they received.
Final Take
If you keep the outbound mailing process in-house, your business is behind in competitive terms.
The last thing your company needs is delayed receivables or cash flow. To receive a streamlined statement process, outsourcing printing and mailing service is the step you need to take.
L & D Mail Masters, an expert outsourcing vendor of statement processing, printing, and mailing services, will help you with this step. Explore their more profitable services and the customer satisfaction they have to offer.
Go through their website to obtain all benefits of their services!
