Have you considered using invoice printing services for businesses? We know what you’re thinking, you have an in-house business services department who already handles your statement printing. Why in the world would you bother paying for a third party to do it for you? There are several benefits to using third party statement processing companies:
Four Benefits Using Outsource Billing Services
If you are a small business (or even a large business), you probably do not have the resources available to invest in the newest and greatest technology for statement billing and printing. The profits you make could be better spent on expanding and improving other areas of your business, rather than dumping it into technology that you only use for invoicing.
On the other hand, a third-party statement printing and mailing service is exclusively in the business of producing statements for businesses just like yours. When they put money into expanding and improving their business, it is for producing your statements better, more efficiently, and cheaper. Instead of pouring thousands of dollars for an important business task that doesn’t pertain to the business you’re in, spend a lot less money per month and have access to the best technology on the market for statement creation.
You don’t have to be an expert in the world of cyber-security to know how important it is. Companies that are far bigger than yours have been brought to their knees because of security breaches. Remember the Target customer payment data breach. Let’s think about Sony breach. These companies were thrown into crisis mode over their security breach.
How much more debilitating would it be for your much smaller company to suffer from a data breach? You don’t have the resources that the “big dogs” have had your finger tips to protect your customers’ personal information, and producing their statements is one of your greatest vulnerabilities. When you produce a statement for your customers, you have to pull data about them including their payment info, their contact information, and whatever personal information is involved in the service you offer. All a hacker has to do is get into your statement-producing system, and they’ll have access to any information about your clients. Meanwhile, companies who produce statements for other companies don’t provide the services that you provide; the only thing they focus on is having a secure and reliable process for creating statements for companies like yours. They utilize the best practices in the business, some of which you just don’t have the resources or availability to provide internally.
While billing and statement production is a key part of keeping your business afloat, it is not the meat and potatoes of your business. If you have the best statements in the world, but the worst product or services, you won’t have any customers to send a statement to. When you let a statement printing company worry about the nitty gritty of your statement production, it frees up your staff and resources to be more strategic-focused instead of being tied down in operations. When your staff and resources are more strategic-focused, your business is able to grow, your product or service improves, you gain more customers, and you have more statements to send out (which leads to more payments coming in). Put your money where it makes you more money. You’re better enabled to do with when you aren’t bogged down with mundane tasks like producing bills.
Acquiring the equipment needed to produce statements in house is expensive. Like really expensive. It might prevent you from being able to grow, or you are forced to reduce the quality of your statement and billing process to a level that you can afford. Meanwhile, when you use a statement printing and billing process, you just pay for the service you use, when you use it. This equals a fraction of what you’d have to spend to own all the equipment yourself. And investing in equipment and technology to produce statements really isn’t a great use of money when it just becomes obsolete and leaves you at square one within a few years.
Do you have anything else to add to the conversation? Share below!