best Print mail statements are one of the most important customer communications a company will send to its customers. They communicate essential information about payment due dates, outstanding balances and interest rates.
They also serve as a crucial opportunity to drive engagement and on-time remittance, through links to an online payment portal, ePresentation or text-to-pay service. Yet, if customers receive a statement that’s difficult to understand, inaccurate or poorly formatted, they may lose trust in the brand, and potentially choose another financial institution for their next transaction.
Thankfully, recent advances in printing technology make it easier and more affordable than ever to provide customers with customized and user-friendly statements. And that’s a big factor in improving customer satisfaction, increasing revenue cycle performance and shortening days sales outstanding (DSO).
When you outsource statement production to a professional service provider, you free your team up from having to design, print, envelope and address these documents individually. This saves your organization money on equipment, payroll costs and supplies such as ink and paper. And you also conserve space and avoid costly maintenance on aging hardware or office furniture.
Outsourcing your statement production to a professional also helps you eliminate potential errors in data processing. This is accomplished through an application that acts as a Rosetta Stone between your legacy system and the document output, identifying what will be included or excluded in each printed version. This enables you to do things like add encounter roll-ups, use duplex printing, suppress statements based on A/R aging and deliver personalized information – such as custom phone numbers or marketing messages – to select groups of your customers.
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