Monday, March 14, 2011

e-Billing, e-Invoicing and Virgin Media

I write mostly about e-invoicing on this blog, but a close cousin is e-billing.  In this article, Virgin Media  and their e-Billing partner, ebpSource, announce that 66 percent of their new customers are opting for electronic billing.  Very good!  These are easy savings that every company, especially companies with a large customer base, should be capturing.

Have you thought about how many ways e-Billing can improve your business?  Here are a few ideas:
  • Reduced Days Sales Outstanding (DSOs)
  • Reduced Cash Conversion Cycles - Best In Class companies are 5x faster at converting Sales into Cash
  • Faster Invoice/Bill dispute resolution
  • 60 percent Print & Postage Reduction – from $5 to $2 (Gartner)
  • Lower Call Center Volumes –up to 60 percent of calls relate to invoice disputes
  • More environmentally friendly (Go Green)
  • Compliant with local tax regulations
Let's now ponder where cost savings and the ROI are found from implementing e-Invoicing and e-Billing:
  1. Reduced paper costs
  2. Reduced printing costs
  3. Reduced handling costs
  4. Reduced postal costs
  5. Reduced payment processing costs
  6. Reduced data entry costs (entering payment information from paper)
  7. Reduced data entry errors
  8. Reduced billing disputes
  9. Reduced paper storage costs
All of these positive benefits that are available to those converting from paper invoicing to e-Invoicing, are simply a bonus for those in Brazil, Mexico and Argentina that are now being mandated to support e-Invoicing.


Kevin R Benedict Independent e-Invoicing/EDI Consultant, Analyst and Blogger
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*Full Disclosure: I am an independent consultant that has worked with and for many of the companies mentioned.

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