Billing Best Practices

Billing Best Practices Webinar

Billing Best Practices

Moderator: Lyle Wallis, CRF


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


Agenda

►Strategic Billing: The 3 C’s►Case Study: Brian Good, Cobra PUMA Golf►Case Study: Ray Sims, Roofing Supply Group►Your Questions


Survey Results

67%

33%

Financial Execs view of Billing

Utility

Strategic

Source: Billtrust Financial Executive Survey (2011)


Billing Best Practices: The 3 C’s


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


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


Bill Design


Mail based on location of bill recipient


EIPP


eAdoption Trend


Customer Service Billing Tool


Tracking Invoices


Integrate Order to Cash Systems


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


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


eAdoption Trend


EIPP


Invoice Central

Provides businesses with one central web site to receive and pay invoices from

multiple vendors.


eAdoption Collateral


Billing Best Practice: Bullpenning

Delay the mailing of low dollar invoices.

More invoices in one envelope mitigates the impact of the USPS.


Billing Best Practices: The 3 C’s


Track Best Practices


Questions?

Lyle [email protected]

Mitch [email protected]

For Weekly Billing Best Practice tips and articlessubscribe to the Strategic Billing Insights Blog:

blog.billtrust.com

Ray [email protected]

Brain [email protected]

mailto:[email protected]


http://blog.billtrust.com/



Technology

Billing Best Practices