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Utility Bill Payment Processing - Why It Works

  

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It's not only the large Fortune 500 companies that can benefit from the outsourcing of their utility bill payment processing, small to medium sized business owners in the retail, manufacturing, property management and hospitality industries will find that by eliminating paper in this process will allow them to remain competitive during and after a challenging economy.

Regardless of how many different vendors that you may use for your company's utility services, having an outside service that can receive and process these bills, consolidate them into one payment, and process that payment for you automatically will no doubt save you money. According to an Aberdeen Group study, companies who have not embraced automation and outsourcing spend $16.91 to $36.51 per single invoice. Any money you spend today processing your own utility bills only makes the cost of your utilities even higher. Gain greater control and visibility, have less aggravation and spend less by using a utility bill payment processing service that can take care of all of it for you, at a fraction of the time and cost that you are wasting.

Having aggregated utility billing and payments means never missing an invoice or payment, again. Research studies have uncovered a startling fact - approximately 65% of business have incurred late fees on utility payments. No more discovering after the due date that you just missed a payment - and have now incurred a late charge. For most businesses, late fees total anywhere from 0.5% to 2% of utility expenses. This can be avoided.

Successful businesses are driving paper out of AP, and they are the ones that have accepted automation and outsourcing. Every business will have a need for real people to do real work, but having automation do the work of a small staff will save you a small fortune over the long run, allowing you to operate at your full potential.