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Prineta Payment Consulting Electronic Invoice and Billing Systems Presentation
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Prineta Payment Consulting Electronic Invoice and Billing Systems Presentation

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Presentation for the Missouri Credit Association for Credit Professionals. Targeted at employees and decision makers of B2B businesses that deal with Accounts Receivables and Collections or IT ...

Presentation for the Missouri Credit Association for Credit Professionals. Targeted at employees and decision makers of B2B businesses that deal with Accounts Receivables and Collections or IT departments responsible for implementing electronic billing systems. To inquire about consulting services, e-mail info[at]prineta[dot]com.
<a>Payment and Electronic Billing Consultant</a>
www.prineta.com

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  • http://www.businessdictionary.com/definition/days-accounts-receivable-Days-A-R.html Days Accounts Receivable  (Days A/R): The  average  number of  days  a company takes to collect payments on goods sold.
  • http://www.businessdictionary.com/definition/days-accounts-receivable-Days-A-R.html Days Accounts Receivable  (Days A/R): The  average  number of  days  a company takes to collect payments on goods sold.

Prineta Payment Consulting Electronic Invoice and Billing Systems Presentation Prineta Payment Consulting Electronic Invoice and Billing Systems Presentation Presentation Transcript

  • Electronic Invoice and Bill PaymentSystems for General BusinessMissouri Credit Association ConferenceGrand Plaza HotelBranson, MOOctober 26th, 2012© PRINETA, LLC This information is the property of PRINETA, LLC and/or its affiliates and may contain restricted, confidential or privileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited without authorization.
  • What is going on with the Electronic BillPresentment and Payments industry these days? We are in the midst of a global change from paper to electronic payments that appears to be accelerating. Why? Because it can produce substantial savings to traditional print & mail billing and payment remittance, and as an added benefit, improves average days in accounts receivable and saves trees. Thousands of businesses, led by the B2B segment, are migrating to e-invoicing every day.© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Businesses use electronic invoicing and paymentsystems to…  Increase Cash Flow  Automate Collection Efforts  Reduce Credit Card Fees  Minimize Overall A/R Costs  Enhance Customer Experience  Go Green© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Average Days in Accounts Receivable 1. First Calculate the Accounts Receivable Turnover Ratio, 1. Net Credit Sales divided by Average Accounts Receivable. • To calculate the average accounts receivable, find average of the beginning and ending A/R balances. 2. Then Take 365 days in the year divided by the A/R Turnover Ratio. Thats it! Example: Companys Average Days in A/R for 2011. Net credit sales were $1,000,000. A/R balance at the beginning of the year was $100,000. At the end of the year, the balance dropped to 70,000. Average A/R = $85,000. A/R Turnover Ratio: 1000000/85000 = 11.76 Average Days in A/R: 365/11.76 = 31.03 days© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • What if you could improve your Average Days inA/R by double digits?What if you could increase your percentage of on-time payments?What would that mean to your cash flow velocity?© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • How many people here work for companies thatare already using “Biller Direct” EBPP?What is your average processing cost for paperbills compared to electronic bills?How much do you save on transactionprocessing costs?Are you marketing on the invoice emails?© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Strategies to Improve Customer Adoption Rates • Focus on improving the A/R "experience“ and making it super easy • Walk customers through how to access their statement online over the phone • Educate customers about the simplicity and security of online technology • Consider offering incentives or discounts for new accounts that enroll in e-invoicing© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • When was the last time you shopped the market? The industry is mature and bill payment providers will compete for your business. Anyone use Quickbooks? Several systems integrate with Quickbooks nowadays© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Options Available  Basic Online Systems  Quickbooks Plug-ins  Mobile Apps  Integrated with Accounting Software© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • This is how it works…© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Several providers… Offer both ACH and credit card payments, one-time and recurring, in a single system Allow you to use any existing merchant account and do not require a new merchant account be established Support monthly payment plans with down payments© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • “Save Money and Get Paid Faster” is the Mantra No postage, paper and labor costs from mailing invoices and follow-up reminders Automatic payment reminder emails Reduce data entry time and errors Role based logins and access control Customer has 24/7 online access to view invoice and make payments© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Example System© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Automatically send payment reminder emails© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Customer Receives Email with Invoice© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Customer Logins into Branded Site© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Customer Views Invoice Online© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Customer Payment Options© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Customer or Merchant Enters Payment Information© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Interested in other providers or have uniqueneeds? Tell us how we can help.We do everything from vendor evaluations tosystems integration and custom developmentprojects. Just ask.We have extensive experience with electronicbilling systems design from days as an Accentureconsultant for SBC/AT&T in St. Louis.© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.
  • Contact Prineta G. Jason Schnellbacher Electronic Bill Presentment & Payments (EBPP) Consultant Managing Partner, Prineta LLC 7300 W 110th St - 7th Floor Overland Park, KS 66210 Schnell[at]Prineta.com I can help you evaluate the options available and begin the electronic invoicing and payments journey© Prineta LLC.. This information is the property of Prineta Payment Consulting and/or its affiliates and may contain restricted, confidential orprivileged materials intended for the sole use of the intended recipient. Any review, use, distribution or disclosure is prohibited withoutauthorization.