Choosing an eBilling Solution: Making the Right Choice

While the adoption of eBilling systems is becoming more and more popular in the telecom industry, it is important that we not underestimate the importance of differentiating between solutions. eBilling solutions range from a simple internet accessible bill, through the providers web portal, to sophisticated bill analysis software that delivers reports directly to your email box. So, it is very important that you know what you want and understand the advantages and disadvantages of each end of that spectrum.

Does your company simply need a simple electronic bill presentment solution to make bills available online? These solutions are a dime a dozen. In fact, if you don’t at least have this bare bones solution at this time, your billing system is grossly outdated and in need of some serious review. But, some companies find that this is all that they need. Or BELIEVE that this is all that they need. But, is providing the same service as your competitors your goal or is providing superior service your goal? This is obviously a question you have to ask yourself and not one that I can answer for you…but, certainly should be considered.

In understanding which eBilling solution you should offer, you must first consider the needs of your customers. A simple survey should do the trick. How many man hours do your customers spend on reviewing, analyzing and allocating their bills? How much does that really cost them in operational expense and therefore how much would they be willing to pay to alleviate that expense? This is really the first step on your journey to find the perfect eBilling solution. You must first understand the needs of your customer base. By making assumptions about their needs, you may be missing a large piece of the puzzle.

Second, you must understand how different eBilling solutions work and what services they provide. If you think you want a plug-and-play web portal solution, you have to ask yourself a few questions. Will your customers be able to pay their bills via the web portal? Studies have shown that consumers that can are more likely to pay their bills BEFORE they are due rather than paying them on the due date or late. Will your customers be able to drill down into their bill to answer detailed questions about extensions, departments, expense allocation, etc.? Studies have shown that by allowing the individual consumer to research their own billing statements, telecom companies are able to reduce churn (customer service expense) by 10% annually. Do you have customers that receive bills that are 100+ pages each month? If so, have you calculated the expense in printing and mailing these lengthy bills? Not only can you save on paper and postage expense, but you can also save on operational expense – someone has to compile, print and mail these bills.

The real question that you have to address when searching for eBilling solution is what are your needs and the needs of your customers. It is simple, really. You can opt for a solution that provides the bare bones of eBilling and stay competitive with your competition OR you can differentiate yourself from your competition and provide a more robust, analytical tool that can save both you and your customer time and money in bill analysis and bill payment.