Chief Financial Officer Surprised by Savings Potential of EBilling and Analytics Software By Shelley Veazie At Isnare.com Ezine Articles

In the accounting and finance world, it is always important to find ways to cut costs. Whether it is by improving efficiencies or getting better prices for existing goods and services, their eyes are always on the bottom line. So, naturally the best way to approach the financial sect of a company is to discuss how you might be able to affect that bottom line positively.

In an effort to entice the executive officers of a large Louisiana Steel Company to give eBilling and analytics a try, an account executive approached the CFO for a meeting to discuss the specific product that he wanted to demonstrate. The CFO was adamant that their company did not need eBilling and analysis software; they were, after all, trying to cut costs, not incur more costs. With some significant arm twisting, the account executive was able to schedule a meeting anyway.

Upon seeing the demonstration of the product and understanding first hand the how quickly and easily they could cut costs within their accounting and finance departments, the CFO was definitely willing to listen to what the account executive had to say. Since there was no proprietary software to be downloaded, it was a snap to immediately install eBilling and analytics to save the accounting department time and money.

The first cost savings opportunity he saw was in cost allocation. This particular steel company had 17 locations all over Louisiana. In order to properly allocate expenses from location to location, they had to manually analyze and allocate their calls when they received their bill. By adding eBilling and analysis software, each location was able receive their individual allocation via email on a monthly basis with no manual effort required. The CFO saw how this was able to relieve his accounting department from sifting through excel spreadsheet after excel spreadsheet. It allowed his employees, instead, to focus on other projects which saved the company valuable time and money. And as a result of his added interest, a 30 minute call turned into a 90 minute call and eventually ended in the Louisiana Steel Company installing eBilling and analysis software for their monthly cost analysis needs.

This is just one example of how a company was able to install eBilling and analysis software and see significant return on investment through cross functional and cross departmental cost savings. And these examples abound. Many companies have entire departments that sift through excel spreadsheets on a monthly basis, consuming hours upon hours of valuable time and resources.

Benefits of eBilling and analysis products:

• Cost Savings – alleviate paper, postage, processing costs
• Non-Price Related Market Differentiator – Go Green
• Faster bill payment – cash in hand
• Lower billing enquiry costs
• Improve customer satisfaction

With the downturn in the economy, everyone is looking for a way to cut costs, run more efficiently, and differentiate themselves from their competition. These eBilling products do just that. By going green, your company is a step above the rest and is still able to reap the benefits of a highly productive, electronic approach at billing and analysis.

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