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WindowPayn Consulting, LLCContact: Reducing the time and cost of getting Paid!
Reducing time and cost of getting paid! What we do Background Reducing time and cost of getting paid Customer Contact Payment Process Opportunities for Savings Demonstration Cost Perspective Billing Payment Conclusion
WindowPayn Consulting - Overview What we do? ,[object Object]
Clients challenged to strengthen their customer contacts/relationships call on us to:WindowPayn Consulting  - Customer Contact Expertise Increasing sales force effectiveness Reduce the time and cost of getting paid WindowPayn Consulting  - Engagements Seminars, Assessment, Strategic Planning, Tactical Implementation, Coaching “When you start with an honest and diligent effort to determine the truth of your situation, the right decisions often become self-evident.” - Excerpt from Good To Great. WindowPayn Consulting’s disciplined process ensures an honest and diligent effort to make the best decision! ,[object Object]
Identify the important criteria for the process and the result
Consider all possible solutions
Calculate the consequences of these solutions and the likelihood of satisfying the
Choose the best option
Release the process through implementation and dissonance resolution,[object Object]
Billing and Payment – Frequent Contact Phases of a Sale Recognition of needs Evaluation of options Resolution of concerns Purchase Implementation Follow-up/ billing and payment contacts By Nature – Confrontational Relationship Source: Rethinking the Sales Force by Neil Rackham and John DeVincentis
Billing and Payment Process … more than administration!! More than getting paid! Maximize Customer Reciprocal Value  Customer Satisfaction The difference between the value that a customer gets from a product and service, and what it takes for the customer to get it. Client Profitability The price that the business receives from the products/services sold minus the cost of customer acquisition, goods sold and client retention; plus/minus the time value of money.
Billing and payment > Intrinsic Value ,[object Object]
Intrinsic Value - belonging to a business by its very nature
Extrinsic Value - not inherent; not a basic part or quality
Billing and payment processes with –
Simplicity
Security

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Rtcp Overview 7610 Aa

  • 1. WindowPayn Consulting, LLCContact: Reducing the time and cost of getting Paid!
  • 2. Reducing time and cost of getting paid! What we do Background Reducing time and cost of getting paid Customer Contact Payment Process Opportunities for Savings Demonstration Cost Perspective Billing Payment Conclusion
  • 3.
  • 4.
  • 5. Identify the important criteria for the process and the result
  • 7. Calculate the consequences of these solutions and the likelihood of satisfying the
  • 9.
  • 10. Billing and Payment – Frequent Contact Phases of a Sale Recognition of needs Evaluation of options Resolution of concerns Purchase Implementation Follow-up/ billing and payment contacts By Nature – Confrontational Relationship Source: Rethinking the Sales Force by Neil Rackham and John DeVincentis
  • 11. Billing and Payment Process … more than administration!! More than getting paid! Maximize Customer Reciprocal Value Customer Satisfaction The difference between the value that a customer gets from a product and service, and what it takes for the customer to get it. Client Profitability The price that the business receives from the products/services sold minus the cost of customer acquisition, goods sold and client retention; plus/minus the time value of money.
  • 12.
  • 13. Intrinsic Value - belonging to a business by its very nature
  • 14. Extrinsic Value - not inherent; not a basic part or quality
  • 15. Billing and payment processes with –
  • 18. Integrity Principle Structure and Accountability Sales/service organization structure Core competency leverage and supplement Resource responsibility and focus Empowerment People Motivation and Measurement Sales Reporting Performance Management/Development Sales/Marketing Program Effectiveness Channel Effectiveness Purpose Communication Defined mission Two – Way message clarity Target market identification/valuation Contact Programs - Sales/Billing/Payment
  • 19.
  • 20. Extrinsic Value - not inherent; not a basic part or qualityLikeability– You are attractive and easy to do business with. Credibility– You know what you are talking about. Dependability – They trust that you will deliver on your promise.
  • 21. The Enterprise Through the Window of Billing and Payments What systems do you have in place today?
  • 22. Benefits of EBPP for the Enterprise Areas of Opportunity: Reduce billing and payment processor costs and where appropriate generate revenue Eliminate labor-intensive functions associated with the collection and processing of payments Automate updating of AR systems delivering key data across the enterprise Strengthening control and consistency of EBBP across the business Accelerating cash flow Enable multiple bill delivery and payment options (web, call center, IVR, mobile, etc.) Leveraging marketing and cross sell opportunities through the billing and payment contacts Facilitating regulatory compliance
  • 23.
  • 24.
  • 25. Outbound collection calls to automated voice programs
  • 26. Payment strategies including charging convenience fees
  • 27.
  • 28. eMail Bill Costs Apply industry best practices!!
  • 29. ePayment Costs Payment Gateway Installation $0 to $5000 # of users/departments Volume Customization Recurring(minimums may apply) $.25 - $.50 per transaction processed Other volume related fees (mailing letters/emails, returns, etc. Processor Fees ACH/Check - $.25 Private label debit card - $.25 to $.50 Pinless debit – $.75 (if applicable) Visa/Mastercard debit card – 1.60% + $.25 to $.50 Visa/Mastercard commercial credit card – 2.25% + $.25 to $.50 Visa/Mastercard credit card – 2.40% + $.25 to $.50 American Express – 3.25% + $.25 to $.50 Apply industry best practices!! Savings 89% Cost of a $250 payment : ACH = $.75; Visa/Mastercardcredit card – $7.00
  • 30. Conclusion The EBPP savings seem to be “self-evident”?!?!?!?!? Emailing … 75%!!!! ACH vs. Credit Card …. 89% Why haven’t we done it? Lets get it done! Assess RFP or recommendation Decision Project Management Ensuring results Did not know there were solutions. Too busy doing to be researching. How would we manage the implementation?!? Will Customers really change?
  • 31. The Opportunity is Yours!! We start We wait It Costs You Did not know there were solutions. Too busy doing to be researching. How would we manage the implementation?!? Will Customers really change? Invest in Reciprocal Customer Value, Today!!!