Propane Industry: Efficient Invoicing
Problem: Over 500 separate locations utilizing disparate systems with multiple different billing cycles and data formats.
Solution: Designed and developed a system that maps the data to a standardized document design that is utilized company wide.
Result: Corporate wide reduction in production and postage due to the efficient daily production of multiple files as one production run. Standardizing the company's terms and conditions to eliminate the company's legal exposure. Creating a corporate image that is consistent throughout the marketplace.
Propane Industry: Accounts Receivable Solutions
The recent economic slowdown caused a dramatic increase in delinquent accounts, which the propane supplier was not equipped to handle. As a result, the propane supplier saw a sharp increase in Accounts Receivable and turned to CTP for a solution.
CTP offered a flexible plan that allowed the supplier to focus their internal resources on accounts less than 90 days past due while CTP implemented a strategy to collect balances as far as 240 days past due. As a result of CTP associates immediate recovery process, the supplier was able to recover over 21% of past due accounts within 35 days. Ultimately 61% of all past due accounts paid in full.
The CTP solution utilized diplomatic customer contact efforts to reestablish communications between the delinquent accounts and the supplier. This solution managed customer complaints and lowered collection costs. As a result of CTP services, the supplier was able to successfully improve their internal collection performance while CTP handled the more problematic collections accounts.
The propane supplier significantly reduced their collection costs while retaining and retraining customers to make payments in a more timely fashion.
Propane Industry: Electronic Billing Solutions
CTP Solutions, the leading provider of outsourced billing services has been recognized for its Environmental Friendly Go Green Initiatives. The CTP Solutions Go Green program recognizes and encourages businesses to adopt environmental friendly initiatives.
CTP's services help companies manage their billing process more efficiently through a suite of recycled papers and electronic bill delivery products. Through its innovative processes and marketing approaches, CTP works with their customers to increase the percentage of bills being sent electronically.
The benefits of electronic bill delivery are significant for both businesses and the environment. With CTP Solutions a company saves 80% sending invoices and statements electronically versus being sent by U.S. Mail. Further, by going paperless companies have a positive impact on the environment by reducing the amount of paper, envelopes, stamps that typically are used in the bill delivery process. CTP's electronic solutions have increased the number of bills being processed electronically while helping many companies to go paperless.
CTP Solutions serves mid to large sized organizations in both the B2B and B2C markets who are struggling with managing the costs (material, processing, postage, labor) and hassles (IT, equipment, management) related to delivering bills. CTPs core advantage is its proprietary "A/R Billing" solution that encompasses many aspects of a company's billing process and helps businesses to reduce costs, get paid faster, and Go Green.
CTPs CEO Jack Schachtel credits the company's state-of-the-art technology, dedicated employees, and its commitment to the environment as being the catalyst for their "Go Green" market position. Schachtel said, "CTP Solutions believes that to be truly Green, business must endorse electronic billing. Not only are we working with our customers to reduce the amount of paper in the billing process, we have also instituted ways for our own company to lower our carbon footprint. Our Green team has implemented company-wide initiatives to reduce paper use, increase recycling, promote energy conservation and help our clients Go Green."
Not surprisingly, CTP has opened a new website to illustrate how business can help lower our carbon footprint at www.GoGreenDocuments.com
CTP Solutions Announces Simplify Electronic Billing
CTP Solutions, the leading billing service provider, today announced the addition of an advanced data import tool which allows bill recipients to download billing data received from their supplier, directly into their accounting packages.
These new tools enable recipients to have two different methods of receiving a downloadable file. They can choose to receive an email that would include two attachments; a PDF file that contains an exact replica of the invoices generated for that day, and a data file that would be in the format to match the accounting system they specified. Alternatively, they can choose to access their billing data via a secure online web site where they can view, print, download and pay their bills.
With CTP's newest data import tools, businesses can now download billing data into the following industry leading accounting packages - Peachtree, Timberline, QuickBooks, Viewpoint, and Dexter & Chaney's Forefront. Further, the data can also be downloaded into a CSV file. The new release also features an improved user interface featuring easy to use menus to generate downloadable files that can be accessed via email or online.
CTP import tools benefits both the biller and bill recipient by ensuring the accurate and timely transfer of data
An added benefit is its contribution to reducing the use of paper, an important priority for both CTP Solutions and our customers.
This new data import tool is one of the reasons many businesses are selecting CTP Solutions for the Electronic Billing Solutions. These tools help business quickly increase the percent of bills sent electronically. Many businesses have opted out of receiving paper bills and chose to get their invoicing data by email because of the ability to download these invoices into their accounting system, which provides data accessible from different computer terminals while saving countless hours of manual data entry.
The electronic transfer of billing data is commonly used when both the biller and bill recipient have the scale to invest in EDI (Electronic Data Transfer). Often, these investments can be significant prohibiting many companies from utilizing Electronic Data Transfer. With new import tools, these companies can exchange a data file that can instantly be downloaded.
Propane Industry Dramatically Reduce Your Invoicing Costs
CTP Solutions, a recognized leader of electronic presentment and payment applications, discusses how their innovative electronic credit and collections solution is designed to help billers reduce the significant costs associated with delinquency and past due accounts.
The uniqueness of the solution is the timely presentment of collection and reminder notices, delivered as secure electronic documents directly into the customer's inbox. CTP incorporates an instant, one-click payment link in the collection notice itself, providing a powerful direct payment channel.
CTP's offering provides an efficient, cost effective alternative that dramatically reduces the time and expense involved in collecting delinquent payments, by replacing paper collection activity with rich, interactive electronic payment notices that are delivered directly to customers via email. These electronic collection notices are uniquely able to generate quick payment with just a single click, without the need to visit a single web page.
Jack Schachtel, of CTP Solutions, describes the collections challenge facing billers and financial institutions: "Sending payment reminders by U.S. mail increases printing, postage costs and a long delivery cycle. By the time the customer gets the reminder it may be out of date, have already paid, and not include current late charges. An invoice not collected, incurs additional expenses for the biller. These include printing and postage costs; longer lead time to collect; outsourced collection agency fees; payment negotiation discounts and significant contact center resources. As a result, the biller receives a smaller percentage of the original bill amount."
Important Facts
- This solution avoids the high expenses associated with credit and collections by emailing bills for delinquent payments.
- Allows billers to collect more of the original payment due, by eliminating outsourced costs associated with late payments.
- Shortens the payment cycle by enabling instant delivery of collection notices and immediate, one-click payment.
- Improves biller cash flow by customer paying thru CTP's EBPP solution.
- Replacing costly paper reminders with cost and time effective electronic payment notices.
- CTP's electronic billing solution uses automated payment reminders as a viable way to prevent delinquent payments and their associated expenses.
- Provides a more efficient, immediate way to reach delinquent customers: when not at home or work, the majority of consumers now have remote access to email via public computers and mobile devices, allowing them to view secure, emailed collection notices when they don't have access to their postal mail.
- Reduces the number of customers falling into the credit and collections cycle by sending automatic reminders.
- Sends additional reminders via mobile phone text messaging (SMS).
Designed to encourage faster payments, improve biller cash flow, and alleviate the expenses associated with delinquent payments, the CTP solution also drives customer adoption of paper turn off which benefits green initiatives. For more information about successful eBilling strategies, visit www.CTPsolutions.com.
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