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Rtcp Overview 7610 Aa

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An overview of our focus on billing and payment solutions for business.

An overview of our focus on billing and payment solutions for business.

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  • 1. WindowPayn Consulting, LLCContact: Reducing the time and cost of getting Paid!
  • 2. Reducing time and cost of getting paid!
    What we do
    Background
    Reducing time and cost of getting paid
    Customer Contact
    Payment Process
    Opportunities for Savings
    Demonstration
    Cost Perspective
    Billing
    Payment
    Conclusion
  • 3. WindowPayn Consulting - Overview
    What we do?
    • Customer Contact Business Process Consulting
    • 4. Clients challenged to strengthen their customer contacts/relationships call on us to:
    WindowPayn Consulting - Customer Contact Expertise
    Increasing sales force effectiveness
    Reduce the time and cost of getting paid
    WindowPayn Consulting - Engagements
    Seminars, Assessment, Strategic Planning, Tactical Implementation, Coaching
    “When you start with an honest and diligent effort to determine the truth of your situation, the right decisions often become self-evident.” - Excerpt from Good To Great.
    WindowPayn Consulting’s disciplined process ensures an honest and diligent effort to make the best decision!
    • Define the environment and decision to be made
    • 5. Identify the important criteria for the process and the result
    • 6. Consider all possible solutions
    • 7. Calculate the consequences of these solutions and the likelihood of satisfying the
    • 8. Choose the best option
    • 9. Release the process through implementation and dissonance resolution
  • WindowPayn Consulting - Experience
    More than 15 years, involved in the sales and marketing of information and communication technology solutions.
    Companies: AT&T, EDS, MCI and SkyTel Wireless
    Clients: broad spectrum of small, medium and global companies in a variety of industries like Aetna, Mobil/Exxon, Dun & Bradstreet, Gannett, etc.
    Responsibilities: account executive, industry consultant, sales support manager, branch manager and business development executive, general manager/director – alternate distribution channels
    Highlights: AT&T Divestiture, systems integration joint venture , MCI rapid growth and business expansion, introduction of one of the original wireless messaging networks
    An additional 15 years, focused on managing businesses focused on delivering contact, EBPP and receivables management solutions.
    Companies: National Credit Management Corporation, Accelerated Payment Systems, NCO Group, NCO ePayments, ClearTran, Bank of New York Mellon and WindowPayn Consulting
    Clients: large billers like lending institutions (MBNA/Bank of America, US Bank, Capital One, and more), utilities (Baltimore Gas and Electric, AEP, LA Department of Water and Power, Consolidated Edison and more), insurance companies (Fireman’s Fund, Bristol West, and more), media, telecommunications/cable companies, and more.
    Responsibilities: C-level executive management, sales management, merger/acquisitions integration, and business process consulting
    Highlights: leading one of the first electronic bill payment companies providing ACH and card payment acceptance tools and services pioneering many of the practices used today; receivables/contact management industry consolidation and business integration, and working with a variety of companies to implement sales and EBPP best practices
    Education – Bachelor’s degree in psychology; Master of Business Administration
  • 10. Billing and Payment – Frequent Contact
    Phases of a Sale
    Recognition of needs
    Evaluation of options
    Resolution of concerns
    Purchase
    Implementation
    Follow-up/
    billing and payment contacts
    By Nature – Confrontational Relationship
    Source: Rethinking the Sales Force by Neil Rackham and John DeVincentis
  • 11. Billing and Payment Process … more than administration!!
    More than getting paid!
    Maximize Customer Reciprocal Value
    Customer Satisfaction
    The difference between the value that a customer gets from a product and service, and what it takes for the customer to get it.
    Client Profitability
    The price that the business receives from the products/services sold minus the cost of customer acquisition, goods sold and client retention; plus/minus the time value of money.
  • 12. Billing and payment > Intrinsic Value
    • Build value proposition:
    • 13. Intrinsic Value - belonging to a business by its very nature
    • 14. Extrinsic Value - not inherent; not a basic part or quality
    • 15. Billing and payment processes with –
    • 16. Simplicity
    • 17. Security
    • 18. Integrity
    Principle
    Structure and Accountability
    Sales/service organization structure
    Core competency leverage and supplement
    Resource responsibility and focus
    Empowerment
    People
    Motivation and Measurement
    Sales Reporting
    Performance Management/Development
    Sales/Marketing Program Effectiveness
    Channel Effectiveness
    Purpose
    Communication
    Defined mission
    Two – Way message clarity
    Target market identification/valuation
    Contact Programs - Sales/Billing/Payment
  • 19. Billing and payment > Extrinsic Value
    Build value proposition:
    • Intrinsic Value - belonging to a business by its very nature
    • 20. Extrinsic Value - not inherent; not a basic part or quality
    Likeability– You are attractive and easy to do business with.
    Credibility– You know what you are talking about.
    Dependability – They trust that you will deliver on your promise.
  • 21. The Enterprise Through the Window of Billing and Payments
    What systems do you have in place today?
  • 22. Benefits of EBPP for the Enterprise
    Areas of Opportunity:
    Reduce billing and payment processor costs and where appropriate generate revenue
    Eliminate labor-intensive functions associated with the collection and processing of payments
    Automate updating of AR systems delivering key data across the enterprise
    Strengthening control and consistency of EBBP across the business
    Accelerating cash flow
    Enable multiple bill delivery and payment options (web, call center, IVR, mobile, etc.)
    Leveraging marketing and cross sell opportunities through the billing and payment contacts
    Facilitating regulatory compliance
  • 23. EBPP Consulting Benefit (Example)
    Company –
    10,000 bills/month
    Average bill =$250
    Annual Savings –
    100% of bills mailed out
    • Migrate 50% to email = $52,298
    20% of payments made to a call center … credit card
    • Migrate 25% of bill/payments to automated recurring ACH = $33,200
    20% of payments made to a call center … ACH
    • Migrate 25% of calls through IVR = $10,500
    10% of payments made on a credit card
    • Migrate 25% to pinless debit = $15,200
    Ensure proper allocation of costs debit vs. credit card
    • 25% of payments billed as debit card= $6,400
    Savings
    75%
  • 24. EBPP Consulting Benefit (Example)
    Additional valuable EBPP opportunities
    • Enhanced automating exception/adjustment handling and reconciliation
    • 25. Outbound collection calls to automated voice programs
    • 26. Payment strategies including charging convenience fees
    • 27. And more
  • ePayment Solutions - Demonstration
    Demonstration  
    Online Resources option – Enterprise ePayment Solution
    Service Overview
    http://www.orcc.com/products/ebanking/payment_cm/paymtAdvDemo.asp
    Demonstration
    http://demo.princetonecom.com/PaymentAdvantage/
    Account number - 002-8954675
    http://demo.princetonecom.com/PaymentAdvantage2008/index.html
    Focus
    Payment data entry – phone, web
    Convenience fee
    Reporting and administration
    Multiple divisions
    PayPal option – very basic solution to get started.
    Service Overview
    https://merchant.paypal.com/cgi-bin/marketingweb?cmd=_render-content&content_ID=merchant/wp_standard
    Biller Services (Beta)
    Similar to PayPal with email push solution.
  • 28. eMail Bill Costs
    Apply industry best practices!!
  • 29. ePayment Costs
    Payment Gateway
    Installation
    $0 to $5000
    # of users/departments
    Volume
    Customization
    Recurring(minimums may apply)
    $.25 - $.50 per transaction processed
    Other volume related fees (mailing letters/emails, returns, etc.
    Processor Fees
    ACH/Check - $.25
    Private label debit card - $.25 to $.50
    Pinless debit – $.75 (if applicable)
    Visa/Mastercard debit card – 1.60% + $.25 to $.50
    Visa/Mastercard commercial credit card – 2.25% + $.25 to $.50
    Visa/Mastercard credit card – 2.40% + $.25 to $.50
    American Express – 3.25% + $.25 to $.50
    Apply industry best practices!!
    Savings
    89%
    Cost of a $250 payment : ACH = $.75; Visa/Mastercardcredit card – $7.00
  • 30. Conclusion
    The EBPP savings seem to be “self-evident”?!?!?!?!?
    Emailing … 75%!!!!
    ACH vs. Credit Card …. 89%
    Why haven’t we done it?
    Lets get it done!
    Assess
    RFP or recommendation
    Decision
    Project Management
    Ensuring results
    Did not know there were solutions.
    Too busy doing to be researching.
    How would we manage the implementation?!?
    Will Customers really change?
  • 31. The Opportunity is Yours!!
    We start
    We wait
    It Costs You
    Did not know there were solutions.
    Too busy doing to be researching.
    How would we manage the implementation?!?
    Will Customers really change?
    Invest in Reciprocal Customer Value, Today!!!

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