Results of a five month study in the Consumer Collection arena by Online Resources Corp."showed the effectiveness of the collections web site in reaching delinquent account holders who were unreachable by phone, particularly for late stage accounts, which are past due between 90-180 days. In addition, late stage account holders who were offered and accessed the web site paid at a higher rate than those who were not offered the web site, and they required less phone contact.
The results were gleaned from a five-month control group assessment of account holders who were offered and accessed a web site to resolve their delinquent accounts over those who were not offered an online method."
What works for consumers will also work for business transactions, although it is usually not adopted as fast by the business marketplace. Does your company already have an web based payment option for customers? If not, CMA partner, American Check Management can help you with their new E-Bill Payment System. Contact ACM at 800-759-6786, don’t forget to ask for your CMA discount.