Businesses are constantly searching for ways to streamline operations, boost efficiency, and tweak or change administrative processes to create a leaner, meaner machine.
Often, though, executives and department managers fail to see big opportunities in relatively-small, benign areas of the business – especially something as outwardly mundane as statement processing.
Truth be told, a business’s statement processing method is far from mundane. In fact, it can eat up a lot of labor hours that could be used in other areas of the business that deliver greater impact for the organization’s bottom line.
There are also issues with brand identity, days outstanding, and other concerns that old statement processing methods just don’t address.
These reasons are why many companies are taking a long, hard look at how they handle their statements from start to finish – and searching for efficiencies instead of drawbacks.
How Changing Your Statement Process Delivers Results
One of the main problems we’ve encountered from clients who have asked for our assistance is the time-consuming, labor-intensive method by which most businesses handle statements to their customers.
The solution for that problem for many clients is automated statement processing that handles the process from start to finish with a minimum of labor hours required.
As you can imagine, lower labor costs from something as basic and fundamental as sending statements to your customers is a big boon for businesses looking to save and streamline.
Automated processes also benefit businesses by making statement reception and payment easier for clients, too. Instead of having just one way to view an invoice – through the mail – customers can instead view and respond to statements using internet and mobile technology.
Furthermore, revamping design statements themselves is a huge opportunity to make invoices simpler and easier to read – and understand – and also make them conform more with the company’s visual brand identity.
You’d be surprised how effective a re-engineered statement processing infrastructure can be when it comes to cutting costs and transitioning a company into a smoother, leaner operation.
The next time you send out a statement the old-fashioned way, just think: it could – and should – be better.
Contact DMS today to learn more about how we can transform your business’s statement processing.