Billing Best Practices Webinar

Billing Best Practices 

Moderator: Lyle Wallis, CRF

Billing Best Practices Webinar

Panel

► Lyle Wallis• Vice President, Credit Research Foundation

►Brian Good• Director of Customer Relations, Cobra PUMA Golf

►Ray Sims• Director of National Credit, Roofing Supply Group

►Mitch Rose• VP of Billing Strategy, Billtrust

Billing Best Practices Webinar

Agenda

►Strategic Billing: The 3 C’s►Case Study: Brian Good, Cobra PUMA Golf►Case Study: Ray Sims, Roofing Supply Group►Your Questions

Billing Best Practices Webinar

Survey Results

67%

33%

Financial Execs view of Billing

Utility

Strategic

Source: Billtrust Financial Executive Survey (2011)

Billing Best Practices Webinar

Billing Best Practices: The 3 C’s

Billing Best Practices Webinar

About PUMA

►PUMA is one of the world’s leading sport lifestyle companies that designs and develops footwear, apparel and accessories

►PUMA Employs more than 9,000 people worldwide and has headquarters in Herzogenaurach Germany, Boston, London, Carlsbad and Hong Kong

►Cobra was purchased in 2010 and COBRA PUMA Golf was formed

Billing Best Practices Webinar

PUMA: Billing Process Transformation

► Billing process managed in-house► Labor intensive:

• Operate printer, sort outbound mail, pull invoices, batch (30-45 minutes each day)

► No electronic billing usage other than EDI

► Bill design not well liked by customers

► IT resources allocated to keep process running smoothly.

► Money spent on servicing machines► Mentality was to keep things in-

house. Not an outsourcing culture

► Increased focus on eBilling- Customers can view bills online anytime/anywhere

► Online payment processing via ACH and Credit Card

► Using the bill to build relationships with customer- each bill has info on dedicated PUMA analyst for each account

► Reallocation of staff to other business processes

► Reduced DSO by 10 days► Cost savings of over 30%► Enhanced linkage with sustainability► Integration with collection system -

Get Paid

AfterBefore

Billing Best Practices Webinar

Bill Design

Billing Best Practices Webinar

Mail based on location of bill recipient

Billing Best Practices Webinar

EIPP

Billing Best Practices Webinar

eAdoption Trend

Billing Best Practices Webinar

Customer Service Billing Tool

Billing Best Practices Webinar

Tracking Invoices

Billing Best Practices Webinar

Integrate Order to Cash Systems

Billing Best Practices Webinar

About Roofing Supply Group

►A Leading Roofing Supply Distributor in North America

►Decentralized Credit Organization►Credit Department Oversees 60 Branch Operations►Each of the 5 Regional Credit managers with 37

credit managers across the country►Processes 70,000 invoices per month

Billing Best Practices Webinar

RSG: Billing Process Transformation

► Manual processes► High printing / postage costs► Slow mail times► Multiple versions of

invoice templates► Poor bill design► Lack of visibility into

invoice processes ► No ability to accept

electronic payments► Accuracy issues► No disaster recovery► Not achieving cost reduction

targets

► Improved invoice design► Faster mail times

• Mailing across multiple locations

► Reduced costs by over 35%► Over 55% of bills being sent

electronically► Payments received across

multiple online portals► Over $3MM in online

payments► Reduction in bad debt/DSO► Integration with collection

system - Get Paid

AfterBefore

Billing Best Practices Webinar

eAdoption Trend

Billing Best Practices Webinar

EIPP

Billing Best Practices Webinar

Invoice Central

Provides businesses with one central web site to receive and pay invoices from

multiple vendors.

Billing Best Practices Webinar

eAdoption Collateral

Billing Best Practices Webinar

Billing Best Practice: Bullpenning

Delay the mailing of low dollar invoices.

More invoices in one envelope mitigates the impact of the USPS.

Billing Best Practices Webinar

Billing Best Practices: The 3 C’s

Billing Best Practices Webinar

Track Best Practices

Billing Best Practices Webinar

Questions?

Lyle Wallislylew@crfonline.org

Mitch Rosemrose@billtrust.com

For Weekly Billing Best Practice tips and articlessubscribe to the Strategic Billing Insights Blog:

blog.billtrust.com

Ray Simsrsims@rsgroof.com

Brain Goodbrian.good@cobrapuma.com