The check is in the mail
We are in digital 2017. However, customers’ payments are still preferably handled manually by postal mail and paper check. This is according to the most recent “2017 Perceptions” study. Around 500 receivables professionals and c-level executives from US companies have been surveyed.
The results are surprising, given that most companies offer services or products online. Why not digitise invoices and payment processes in general? Software and technology businesses are those who already use less paperwork: 58% said they use paper invoices and more digital channels such as email. Especially the banking sector and financial services stand out with 71% of respondents still sending paper invoices by traditional mail.
We believe that the biggest room is the room for improvement, especially when it comes to switching to digital solutions in order to meet the customer at the eye level. So if you ever consider digitising your receivables, and might want to add further communication channels such as SMS or messenger, collectAI might be the right solution for you.