If you are looking to save money then look no further than electronic billing or online billing--sometimes referred to as EBPP. National averages per call received in a call center or by a customer service rep can be as much as $5.00. Reduce this by 50% and you save a significant sum of money. The question is how to reduce the number of calls flowing to your call center? The answer: short and sweet, electronic billing or online billing. National statistics show that 60% of all calls to a call center are billing related. Questions such as, "Can you send me another copy of the bill?" "Why did my bill increase?" "I didn't get my bill" can send your customer service reps over the edge; however, when you use an electronic bill or online bill solution you will save not only your customer service rep, but also you will save your customers the pain of having to call and ask. You can also use your call center personnel for other more pressing issues. Overall online billing saves you money. A recent study found, "Between now and 2010, the number of users who pay their bills electronically will grow, by 75 percent, to about 47 million households, says Forrester Research Inc., an independent research company that analyzes and forecasts technology's impact on business and consumers." With this information you are armed to take advantage of the cost savings that comes from online billing. A clarification may be in order...what is an online bill? You may say paying my bill online. You are 50% right! The other part of the equation is the ability to view the bill online. In order to save on customer calls online presentment of the bill is key. Now for the good stuff... Implementing an online bill solution will take anywhere from 30 to 60 days depending on how complicated your bill is. Consumers will adopt an online billing solution on average about 2-5% a month. Calls related to bills will start to drop and will fall off dramatically about 6 to 8 months after the solution is implemented. This means you start realizing a return on investment inside of a year just on call reduction. You can save even more money by suppressing paper (A topic for another paper). For any business looking for a great cost savings you found it in online billing or EBPP. One last word...Don't get discouraged if your call volume climbs slightly in the two months after you have implemented a solution. Your customers are getting used to the new solution and need reassurance that their payment has made it through to you. Once the customer has successfully used the system and payments are flowing...bada-boom bada-bing your call volume drops like a large rock off a short cliff. |
