Avoid Retrenchments, Cut Operating Costs Instead - eBilling News | EBPP

Avoid Retrenchments, Cut Operating Costs Instead

on Monday 11 May 2009

Striata discusses innovative ways in which businesses can cut costs and simultaneously drive sales, to survive the current recession.

The current volatile economic climate is prompting rumours of retrenchments in almost every industry, but there are ways companies can cut costs without having to reduce their staff complement. Converting from paper to e-mail communication significantly reduces operational costs and affords companies with a substantial ROI.

Nicola Els, Head of eBilling at electronic messaging specialist, Striata, encourages businesses to save by replacing all paper-based customer communications with email. “Businesses should seriously have a look at their operating costs and see where they can cut back. By removing paper, mailing and manual processing, operating costs can be reduced by between 65%-85%, with minimal capital outlay.

“Remember, the financial benefit for e-billing doesn't work only for companies with lots of customers, which are typically business-to-consumer focused. It also works for business-to-business companies that have a small client base, but where the amount of information in each bill is enormous,” explains Els.

One of the key advantages of Striata's electronic bill delivery solution is the personalised marketing opportunity that it provides. Paper bill stuffers are costly and ineffective - an eBill offers prime marketing 'real-estate' that is many times more effective than a paper bill stuffer.

Els goes on to say that a marketing budget often bears the brunt of cost-cutting exercises. However, through leveraging traditionally operational communication, companies can ensure targeted reduced cost marketing. “Effectiveness of marketing messages can also be monitored through open and click-through rate tracking within the eBill."

“By including personalised marketing messages in the e-mailed bills, you have the means to cross- and up-sell products and services, as well as prompt your customers to visit your website, where they can gain access to further information,” says Els. “Effective marketing activities ultimately drive sales, which in turn will boost your company's profit margin.”