There are very few independent research studies on Enterprise-level Electronic Invoice Presentment and Payment (EIPP) that focus on North America. For that reason, CEDAR has sponsored an independent research study to uncover best practices for improved customer experience and communication throughout the invoice lifecycle. After the completion of the study and extensive analysis of the results, it was clear that there is significant room for improvement in the way enterprises communicate with their customers.
Below is a quick look at the study structure and a few of the key findings from the survey:
- Most large companies have gone through mergers and acquisitions during their existence. Many times not having the resources and time that is needed to unify the billing systems, as a result 60% of companies currently support 2 or more billing systems.
- While electronic delivery continues to increase in the B2C world, the B2B invoicing world has some catching up to do. The use of latest technologies in mobile and “push portals” is significantly lower in B2B invoicing; only 5-8% currently use innovative techniques.
- Over 60% of surveyed companies believed their layout design needed a complete redesign. Many companies have not changed the layout for 10-20 years; this provides a bad experience for the customer and can increase disputes and DSO (Day Sales Outstanding).
To schedule a presentation with the complete findings of the study and to receive a copy of the survey results, click here.