eInvoicing Post: Could The Postal Service Cuts Be Good For Your Business?

The U.S. Postal Service made news recently when it announced it will close half of its processing centers across the county, slowing delivery and eliminating the chance for next day arrival (a guarantee the USPS has been able to keep for 95% of stamped letters for the last 40 years).

The postage rate will also increase which, for many businesses, could seem like the end of the world. But, as noted by Patricia Orsini of CNBC, the decline in post office usage could actually be beneficial. Businesses are now encouraging more of their customers to utilize self-service tools – web portals, electronic statements and mobile banking – that provide easy access to their needs while reducing the cost of delivery.

It’s the same in the world of business to business billing. Research has shown that 75% of consumers are open to receiving and paying bills electronically, yet most still get paper statements and invoices mailed to them each month. The key to transitioning these willing-but-not-fully-converted customers is to make it simple and safe to do business with you electronically.

Making it easy and comfortable for your customers to do business with you electronically makes good business sense. As your customers convert to electronic communications, the high costs associated with print and mails can be eliminated, which result in substantial savings, a decrease in DSO.

Are you making it easy for your customers to enable EIPP and EBPP?