September 2019

Congratulations, your business has had rapid growth in the last year, and you now have more customers than ever before. The downside of your success is making sure all those customers pay on time, that is if you can get the billing done on time. What is the solution to this welcome, but complicated issue? Using a statement processing service. A statement processing service can help your company not just with getting statements out but can improve other areas as well.

Save on Staff and Operations Costs.

When you outsource your statements to a processing service, you are freeing up valuable employee time and costs. Statement processing services allow you to assign employees to other areas where their skills can be a more significant benefit to your company.  They can focus on the company’s core products or services. Using a statement processing service also allows you not to have to employ a larger staff to process statements, meaning a more considerable profit margin for your company. It also lets your accounting department focus on other details having been liberated from the duty of processing statements.

More Statement Options.

A statement processing service specializes in customizing statements to be what a company wants. They have a number of options available that your company would not be able to offer without using a statement processing service. They can produce statements with colors, font, logos and language all in line with your company’s brand. When your statement is in line with your company’s branding your are building customer recognition with has been shown in numerous studies to lead to long term customer loyalty. A statement processing service can also include inserts which can bring in higher sales. When you add a coupon or loyalty card with the statement is likely to bring a customer back to your business because of a perceived deal. You can include an insert which promotes an upcoming event such as a sale for which the customer may not have seen an advertisement. You can insert a newsletter that tells what is going on at the company and makes the customer feel as if they are an insider.

A customer receiving a statement on time is another excellent way to build your company’s brand. If a customer, especially if that customer is a business, expects a statement on time, it can be frustrating when it shows up months later because your accounting department couldn’t keep up with the work. Customer care has been shown to be one of the most identified aspects of a company’s brand, getting the correct statement to the customer on time is an excellent way to connect your brand with taking care of a customer’s needs.

Increase Traffic with Statements.

A statement processing service can actually help with your company’s SEO efforts. Putting your company’s web address on both the statement and the envelope that is sent to the customer can drive traffic to your website. Be sure that your website has engaging content and eye-catching graphics to get the maximum benefit of listing the site in a statement. If your homepage is not interesting enough and to the point, customers will only stay a few seconds and won’t visit any other pages on your website. You can also drive traffic to your company’s social media accounts by including icons to the various platforms it uses. Again, make sure that you have interesting content on your social media accounts and include links to your company’s website, perhaps a product page if the post is related to that subject.

So, if your company has grown recently, and your accounting department is overwhelmed by the increase in their workload, alleviate the problem by outsourcing your statement processing; your bottom line and brand can both benefit.