One of the issues that arises is that bill-payment still relies on an exception-based workflow, which can add complexity to the process and increase costs. An efficient solution will feature a multi-payer provider engagement portal that accelerates adoption, multi-functionality that eases the submission, reporting and payment processes.
What’s more, such a solution should offer the following options:
- The ability to streamline payment and remittance distribution through a single source
- The ability to instantly connect to nearly one million payment-accepting providers
- The ability to achieve total electronic adoption on the first day of implementation
- The ability to generate revenue through a multi-layered payment approach
- The ability to manage and track payment transactions online
- The ability to achieve complete and instant compliance for state, jurisdictional and federal regulations
By outsourcing their processes and taking advantage of these benefits associated with electronic bill-processing solutions, organizations can abandon the outdated inefficient traditional methods they’ve been relying on and find a way to increase productivity, streamline their operations and allow their employees to focus on core competencies. It’s the best way to distribute payments and remittance data.