There are more best practices in paper bills than you think.
Everyone knows there’s a cycle to generating, outbound mailing, receiving and processing a paper bill. The financial troubles since 2008 taught us all about time, working capital and DSO (the average number of days that a company takes to collect revenue after a sale has been made). But when you look at all these cycles in an integrated fashion, best practices for payment processing emerge. These practices include extremely accurate forecasting, better customer interaction, higher straight-through processing, reduced costs and reduced processing time.
On Thursday, September 26th, Michael Alfonsi — BancTec Vice President & Managing Director, Payments Portfolio — will present on this topic for the Institute of Finance & Management’s Payments Summit.
The Las Vegas conference will examine the opportunities, challenges and business drivers for emerging payments automation technologies and processes. More than 35 payments industry thought leaders will headline IOFM’s Payments Summit. The Institute of Finance & Management, a business unit within Diversified Business Communications, is the leading source of information tools and resources for financial professionals.
Michael Alfonsi is an expert on financial transactions, payments, accounts payable, and account receivable. His session will look at how billers and processors can exploit these payment processing practices in the face of post office changes, disruptive entrants into the payment system, consumer billing preferences, and audit/fraud and production concerns. Fast paced and with excellent benchmarking data, participants are sure to take away several measures for comparison and a more integrated way to approach the paper left in the billing and AR process.
BancTec has been closely following the economic impact of U.S. Postal Service consolidation, recently publishing an ebook, “First-Class Liquidity,” which outlines how business process outsourcing can help companies mitigate the negative effects of these consolidations. Alfonsi’s “best practices” insight is an important part of this conversation on how savvy business can take advantage payment processing opportunities.