However, more than 70% of companies send out between 1,000 and 10,000 invoices a month, so the process can get a little bit more complicated.
There are a lot of decisions you have to make regarding how your business sends out mail that can affect your mailing expenses, customer satisfaction, and how quickly your business gets paid.
We’ve outlined the three central ways you can prepare and distribute your mail, and the pros and cons of each. At the end of the article, we explain why you don’t have to pick just one. It is easy to incorporate all three into your mailing process!
Ideal for: Companies that want complete visibility to their mailing and have the tech and tools to make sure the process is secure and productive (e.g. folder inserters, barcoding software.)
What it takes to get started: Enough capital and expertise to get the right mailing tech and tools.
Pros: You have complete visibility to your mail process and have mailroom experts right in-house.
Cons: Unless you buy the right tech and tools, you might run into compliance issues. You might also be paying full price for postage. Without the right tech, the USPS will not discount your postage rates. Finally, you need substantial personnel and space to manage all your mailings in-house.
Of course, many smaller companies that are only sending out 500-2,000 invoices or mailings a month don’t need to worry about security, space or postal costs as much because they are doing a lower volume. However, they might consider outsourcing some of their mail to cut down on mailing costs or labor-cost, or if they value customer service they might want to offer paperless billing. Luckily you don’t have to choose! Quadient helps you set up a mail workflow that is customized and best for your business.
If you're interested in acquiring an in-house mail system that can handle everything from First-Class Mail to Priority Mail and packages, check out our latest mail machine and see if it's a good fit. Be sure to browse our mail folding machines and reach out if you have any questions.
Ideal for: Businesses that are customer-experience focused and looking to lower their days' sales outstanding (DSO) to get paid faster.
What it takes to get started: This requires a shift in company culture and the right software. You can get software that centralizes, tracks and archives invoices or notices sent via email. Businesses can then set reminders for customers who haven’t paid, link directly to where they can pay their bill, and use tracking insights to confirm that an invoice was sent and received.
Pros: This is a great add-on for customers who prefer to receive their correspondence online. It also helps reduce DSO by sending out reminders, directly linking to payment portals and more. Finally, it gives businesses assurance and visibility that important communication was delivered and received.
Cons: This does require a shift in the invoicing process, moving from a print to an online model. It also requires the purchase of software. The cost of the software may offset what your business already spends on mailing materials and postage. Schedule a Quadient representative to do a custom ROI analysis for your company.
Adding multi-channel delivery options is one of the best things you can do to reduce DSO. If this sounds like it's something you need, visit our multi-channel mail solutions page.
Ideal for: Companies that do last-minute mail sends, specialized sends that are tough to complete in house, or sends that need to be HIPAA compliant.
What it takes to get started: Businesses are charged on a per send basis by a fulfillment house. This means that companies only pay for what they send and should be able to outsource all or part of their print mailing at an economical rate.
Pros: Using a mail fulfillment center can eliminate mailing and postage costs. It can also alleviate internal pressure to complete last-minute mailings or large mailings on time. Finally, it can help companies that are subject to compliance audits avoid the expense and hassle of building out robust and secure mailing workflows in their own building.
Cons: If you need complete visibility to your mailing process, this might not be the mailing method for you. Depending on what mail fulfillment center you use, you may want to ask about how much tracking and reporting they'll provide. Mail fulfillment options are often underused by small and large businesses alike. They are a great option to consider and keep in your back pocket if you need to get something mailed on a tight schedule or if you don’t have the right tech for certain types of mail sends, like marketing mail or HIPPA-compliant statements.
At Quadient, we're big fans of outsourcing for large, flighted and last-minute mailings. Take a look at the benefits of Quadient's mail outsourcing solution.
Businesses don’t have one type of customer, so they shouldn't rely on one type of mailing! Contact a Quadient rep to see what mailing mix makes sense for your business. The right mix can lower your mailing costs, get you paid faster, and provide redundancies if your company is working remotely.