Know elements of efficient bill payment solution

Know elements of efficient bill payment solution
Last week on this blog, we talked about how a traditional print-and-mail process can pose significant risks for organizations, and what’s really needed is a more comprehensive bill-payment solution.

 

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taking advantage of these benefits associated with electronic bill-processing solutions, organizations can abandon the outdated inefficient traditional methods they’ve been relying on and find a way to increase productivity, streamline their operations and allow their employees to focus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.

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