E-bills accounted for 23 percent of the volume of bills presented among U.S. households in 2014. It doesn’t seem like a staggering number when considering how to leverage electronic billing, but here are a few things to consider before developing your strategy.
- The Millennial generation has a much greater interest in receiving e-bills. So as they continue to age, utilities will see more and more customers prefer e-billing.
- Bill presentment and payment collection is more than just an administrative function; smart utilities are leveraging bills and statements to improve customer communications through better design and broader distribution channels.
- E-billing reduces time and cost (postage, paper and printing) of distributing paper bills while at the same time increases the speed in which a utility gets paid.
- 46 percent of U.S. households pay bills via two or three different methods (mail, directly online or through their bank), e-billing can assist in streamlining this process and creating greater customer satisfaction.
Check out this article from Intelligent Utility for a few more insights on the importance of e-billing and selecting the right e-billing partner.