800-774-9355 [email protected] @vancoservices.com vanco services, llc 12600 whitewater...
TRANSCRIPT
800-774-9355 [email protected] www.VancoServices.comVanco Services, LLC 12600 Whitewater Drive, Suite 200 Minnetonka, MN 55343
Bill & Invoice PresentmentDesigned for your organization.
Delivered by Vanco.
A presentation for
© 2012 Vanco Services, LLC. All rights reserved
Kate
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
• Introductions
• Bill presentment overview
• Building your bill presentment system
• One illustrative case history
• About Vanco Services
• Next Steps
AGENDA
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
BILL PRESENTMENT OVERVIEW
What is bill presentment?Bill presentment is the electronic delivery of a bill or invoice traditionally delivered by mail. A bill presentment system can be as basic or sophisticated as necessary, depending on an organization’s goals and the product/service they provide.
•Basic systemDelivers invoice or payment advice via single electronic communication method
•Sophisticated systemDelivers invoices and other information such as reminders, invoices, payment amounts, reports and late noticesDelivers information by email or text messageDirects customers to remit payment via one or more channel using credit card, debit card or ACH
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
BILL PRESENTMENT OVERVIEW
What are your goals?Vanco configures bill presentment systems to meet specific organizational goals.
•Maximize on-time payments
•Minimize collection activity
•Increase accuracyReduce payments remitted with the wrong amountReduce payments remitted for wrong time periodReduce payments remitted for the wrong bill
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
BILL PRESENTMENT OVERVIEW
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
BUILDING YOUR BILL PRESENTMENT SYSTEM
If you can dream it, we can build it
1.ContentWhat information should be presented?How detailed should the information be?
2.DeliveryWhat communication method should be used?
3.ResponseWhat action should be taken by the customer?
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
BUILDING YOUR BILL PRESENTMENT SYSTEM
Website
•ContentNotices (payment is due/overdue, bill/invoice is ready to view, payment has been processed, etc.)Billing amountDetailed information (payment history, usage, explanation of taxes or benefits, etc.)
•ResponseReview information — Customer can review information, whether it’s a basic summary or in depth reportingMake a payment — Customer can make a one-time payment or schedule automatic recurring payments
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
BUILDING YOUR BILL PRESENTMENT SYSTEM
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
Website Example: Secure customer login for online payments
BUILDING YOUR BILL PRESENTMENT SYSTEM
Text message
•ContentNotices (payment is due/overdue, bill/invoice is ready to view, payment has been processed, etc.)Billing amountPrompt customer to visit website or reply to make a payment
•ResponseVisit website — Customer can visit the website to log in and review information or make a paymentReply with payment — Customer can reply via text with a unique command to initiate a one-time payment No response — Customer simply receives notice that a payment was processed and no response is required
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
BUILDING YOUR BILL PRESENTMENT SYSTEM
•ContentNotices (payment is due/overdue, bill/invoice is ready to view, payment has been processed, etc.)Billing amountEmail attachments (pdf)Provide a link to the website where customer can view more information or make a payment
•ResponseVisit website — Customer can click a link that directs them to the website where they can review information or make a paymentNo response — Customer simply receives notice that a payment was processed and no response is required
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
BUILDING YOUR BILL PRESENTMENT SYSTEM
Customer payment methodsWithin the secure online profile, customers can save their preferred payment method and account information for future payments.
•Checking or savings accountCustomer can enter the routing and account number of their checking or savings account to have payments transferred electronically (via ACH).
•Credit or debit cardCustomer can use their credit or debit card to make payments by entering their card number, expiration date and security code.
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
BUILDING YOUR BILL PRESENTMENT SYSTEM
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
ONE ILLUSTRATIVE CASE HISTORY
Finance company with over 60,000 car loansProblem: Consumer loan payments that were initiated though walk-in bill pay services were being transmitted with limited account information. These payments needed to be accurately posted to individual accounts on a timely basis and sent to multiple endpoints.
Solution: Vanco built a custom solution that:
1)Appends records containing too little information,
2)Corrects records containing inaccurate information,
3)Flags records requiring additional research and,
4)Twice daily, generates data files for straight-through electronic posting which are sent to multiple locations.
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
ONE ILLUSTRATIVE CASE HISTORY
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
ABOUT VANCO SERVICES
Proven solutions from a proven service providerVanco Services works with more than 18,000 organizations nationwide and we welcome the opportunity to propose a payment solution that will address your most challenging needs by leveraging:
•Proven solutions
•Robust payment engine
•PCI Level 1 Compliant operations
•Industry relationships
•Extensive experience
•Exceptional service
© 2012 Vanco Services, LLC. All rights reserved. Unauthorized use prohibited. These copyrighted materials may not be reproduced in whole or in part except upon the prior written permission of the Legal Department of Vanco Services, LLC.
ABOUT VANCO SERVICES
800-774-9355 [email protected] www.VancoServices.comVanco Services, LLC 12600 Whitewater Drive, Suite 200 Minnetonka, MN 55343
Thank you!
Mike Foye800-774-9355 x464