Apart from the physical printing of the invoices; there are other ancillary costs that are associated with the billing process which tend to be invisible such as the toner consumables, paper, time taken by staff and postage.
So here is a quick digest of where you can save money.
1. Batch invoices for one company into a single envelope
It’s surprising the number of organisations that send out single invoices for each transaction rather than consolidating customers invoices into one envelope. This in itself, can give you greater reductions in postage costs.
2. Change the size of the envelope you use for posting out your documents
This seems an almost flippant suggestion but by changing from a standard DL size envelope to a C5 will enable you to insert at least 15 A4 sheets comfortably. The importance here is making sure that you match the right documents for the same customer into the envelope.
3. Postage discounts are available from the Royal Mail and via DSA (downstream access)
If you can pre-sort your mail internally and according to the mail providers criteria postage discounts could be anything from between 10% – 40% per envelope which represents a big saving on the bottom line.
4. Invalid or incorrect addresses
A sure fire way to end up having a steady flow of undeliverable invoices is having incomplete or incorrect address details. An accounts system that is regularly maintained and administered will reduce the number of returned or undelivered envelopes. Additionally an incomplete address will not qualify for pre-sortation discounts.
5. Encourage the uptake of an electronic bill instead of a paper version
More and more companies are making it easier for their customers to sign up for e-billing. It is one of the single most effective ways of reducing costs and administration associated with print and mailing of invoices and statements!
6.White Space Management
In simplistic terms this means that if you are sending out paper base bills then use the white space that is invariably left at the bottom third of the invoice to target a specific message; it could be that your company are offering discounts for the month of August on a particular product range or you might want to target a specific audience with a personalised message. You’ve already paid for the paper, envelope and postage why not use the invoice and personalise it with targeted marketing messages.
Of course all of the above takes time, costs money and is fairly labour intensive.
If you want to discuss some or any of the above please call us and we will advise you where the best savings can be achieved for you and your business!
About Caroline
