eBilling - Where Did It Go Wrong?
eBilling has been offered for more than a decade, so why are 80% of bills still delivered through the mail? Consumer trust has not been delivered by many existing eBilling systems deployed by consumer finance, insurance, utility and other billers.Not Reminding Consumers
The paper bill serves two important functions for consumers, a reminder to pay their bill and a historical record when they want to review their finances. A consumer survey conducted by Javelin Strategy & Research showed these were the top two reasons consumers were not giving up the paper bill. Up until now most consumers have not trusted eBilling to remind them to pay and make historical records easy to access. Reliable and intelligent electronic reminders must be deployed in order to drive paper bill suppression higher than the 20% industry average (according to BlueFlame Consulting). Billers should send intelligent alerts 2 days before the bill is due reminding consumers to pay, but only to those consumers who have not already paid or scheduled a future payment.
Hard to Access Bills
The mobile channel offers consumers a new way to access their current and historical bills anytime and anywhere, combating the problem of bills being hard to access. If a biller delivers electronic bill presentment through the mobile channel, they have now addressed consumers need to review their finances. Billers should offer consumers the ability to suppress the paper bill when they first sign-up for mobile and web bill presentment.
Complex Technology Integration
Delivering electronic bills to the mobile, web and call center channel provides the ultimate in consumer convenience, but can also drain technology resources. To date, it has been complicated and costly for billers to access existing bill storage to distribute bills electronically across multiple channels. Simple implementation and management of bill presentment systems is possible thanks to eBilling systems that come pre-integrated with the Document Processing Service providers that store the bills.
Let's Make Changes
While many billers are frustrated that their initial investments in eBilling, by delivering consumer trust we can drive paper suppression to new heights!
What else do you think can raise consumer adoption of eBilling?
eBilling - Where Did It Go Wrong? by Phil Spradlin
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