Customer billing and payments are as much an opportunity to provide excellent customer service as they are a core operational and accounting function. Leading companies leverage their billing and payments process to achieve far more than just the collections of payments; they use techniques to forge stronger customer relationships and gain greater insight into customer wants and needs.
I recently attended a technology symposium featuring an enterprise collaboration software suite. The audience was composed of Information Technology (IT), business analysts, industry consultants, media, and executives across industries. The common thread among attendees was the fact that they were using the collaboration suite or were interested in implementation.
What if one of your top suppliers just defaulted on a multi-billion dollar payment? That’s pretty much what happened recently when the U.S. Postal Service defaulted on $5.6 billion that it is legally required to pay the federal government to cover its future retiree healthcare benefits.
On Wednesday the 3rd of April, The New York Times reported that the Securities and Exchange Commission said that postings on sites such as Facebook and Twitter are just as good as news releases and company websites as long as the companies have told investors which outlets they intend to use.
For many years, the number one question asked by many of my customers has been: “from your experience, what percentage of customers are “opting in” to electronic delivery”? Everyone holds their breath in anticipation that their company may fall well below the national average. For the moment, let’s hold that magic number in suspense.