billing best practices
DESCRIPTION
Hear from Lyle Wallis from the Credit Research Foundation as he leads a panel of senior level Credit/Collection managers as they discuss steps they have taken to improve their billing process.Panel Includes:Brian Good, Director of Customer Relations, Cobra PUMA GolfRay Sims, Director of National Credit, Roofing Supply GroupMitch Rose, VP of Billing Strategy, BilltrustTRANSCRIPT
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Billing Best Practices Webinar
Billing Best Practices
Moderator: Lyle Wallis, CRF
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Billing Best Practices Webinar
Panel
► Lyle Wallis• Vice President, Credit Research Foundation
►Brian Good• Director of Customer Relations, Cobra PUMA Golf
►Ray Sims• Director of National Credit, Roofing Supply Group
►Mitch Rose• VP of Billing Strategy, Billtrust
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Billing Best Practices Webinar
Agenda
►Strategic Billing: The 3 C’s►Case Study: Brian Good, Cobra PUMA Golf►Case Study: Ray Sims, Roofing Supply Group►Your Questions
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Billing Best Practices Webinar
Survey Results
67%
33%
Financial Execs view of Billing
Utility
Strategic
Source: Billtrust Financial Executive Survey (2011)
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Billing Best Practices Webinar
Billing Best Practices: The 3 C’s
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Billing Best Practices Webinar
About PUMA
►PUMA is one of the world’s leading sport lifestyle companies that designs and develops footwear, apparel and accessories
►PUMA Employs more than 9,000 people worldwide and has headquarters in Herzogenaurach Germany, Boston, London, Carlsbad and Hong Kong
►Cobra was purchased in 2010 and COBRA PUMA Golf was formed
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Billing Best Practices Webinar
PUMA: Billing Process Transformation
► Billing process managed in-house► Labor intensive:
• Operate printer, sort outbound mail, pull invoices, batch (30-45 minutes each day)
► No electronic billing usage other than EDI
► Bill design not well liked by customers
► IT resources allocated to keep process running smoothly.
► Money spent on servicing machines► Mentality was to keep things in-
house. Not an outsourcing culture
► Increased focus on eBilling- Customers can view bills online anytime/anywhere
► Online payment processing via ACH and Credit Card
► Using the bill to build relationships with customer- each bill has info on dedicated PUMA analyst for each account
► Reallocation of staff to other business processes
► Reduced DSO by 10 days► Cost savings of over 30%► Enhanced linkage with sustainability► Integration with collection system -
Get Paid
AfterBefore
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Billing Best Practices Webinar
Bill Design
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Billing Best Practices Webinar
Mail based on location of bill recipient
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Billing Best Practices Webinar
EIPP
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Billing Best Practices Webinar
eAdoption Trend
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Billing Best Practices Webinar
Customer Service Billing Tool
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Billing Best Practices Webinar
Tracking Invoices
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Billing Best Practices Webinar
Integrate Order to Cash Systems
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Billing Best Practices Webinar
About Roofing Supply Group
►A Leading Roofing Supply Distributor in North America
►Decentralized Credit Organization►Credit Department Oversees 60 Branch Operations►Each of the 5 Regional Credit managers with 37
credit managers across the country►Processes 70,000 invoices per month
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Billing Best Practices Webinar
RSG: Billing Process Transformation
► Manual processes► High printing / postage costs► Slow mail times► Multiple versions of
invoice templates► Poor bill design► Lack of visibility into
invoice processes ► No ability to accept
electronic payments► Accuracy issues► No disaster recovery► Not achieving cost reduction
targets
► Improved invoice design► Faster mail times
• Mailing across multiple locations
► Reduced costs by over 35%► Over 55% of bills being sent
electronically► Payments received across
multiple online portals► Over $3MM in online
payments► Reduction in bad debt/DSO► Integration with collection
system - Get Paid
AfterBefore
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Billing Best Practices Webinar
eAdoption Trend
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Billing Best Practices Webinar
EIPP
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Billing Best Practices Webinar
Invoice Central
Provides businesses with one central web site to receive and pay invoices from
multiple vendors.
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Billing Best Practices Webinar
eAdoption Collateral
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Billing Best Practices Webinar
Billing Best Practice: Bullpenning
Delay the mailing of low dollar invoices.
More invoices in one envelope mitigates the impact of the USPS.
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Billing Best Practices Webinar
Billing Best Practices: The 3 C’s
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Billing Best Practices Webinar
Track Best Practices
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Billing Best Practices Webinar
Questions?
Lyle [email protected]
Mitch [email protected]
For Weekly Billing Best Practice tips and articlessubscribe to the Strategic Billing Insights Blog:
blog.billtrust.com
Brain [email protected]