Mail Delivery Change Could Cost a Large Company Up to $100 Million Annually

There are several actions companies can take now to avoid a hit to accounts receivables when the post office makes its change. REL Global Customer to Cash Practice Leader Veronica Heald offers the following guidance:

Bill more quickly.—“Many companies still bill once a week, or even once a month. This may be simpler, but it’s counterproductive. Bills need to go out as quickly as possible,” said Ms. Heald. “One good first step is to consider delivering bills via e-mail. But it’s critical that companies confirm delivery, either by phone or using electronic receipts. The longer it takes for an invoice to reach a customer the longer it will be before the invoice enters the customer payment process.”