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Whitepaper
Go Paperless with eStatements
How switching from paper to electronic statements cuts costs and gets information to clients faster.
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1 min read
Written by
Daniela Marchetti
Are you still sending paper statements to your clients? Paper-based companies are struggling to keep up with the new digital age. Traditional statements require a constant supply of paper, printing material, postage, staff to print, fold and mail paper statements monthly and also require arrangements with a postal or shipping service.
What Are eStatements?
eStatements are electronic versions of mailed statements but they are more effective and less expensive than paper statements and can help reduce printing and mailing costs. You will save your company time and money by streamlining everyday basic transactions that in the past involved high paper consumption. According to a research by the Environmental Paper Network, the costs of using paper can be 10 times the cost of the original paper itself. So when you spend $10 on a ream of paper it is actually costing you $100 in indirectly.
Switching to electronic files allows you to experience additional cost reductions related to archiving statements electronically, eliminating transportation costs and document storage. The option provides further benefits, such as reducing clutter and maintaining easily trackable documents. You can access and submit your statements conveniently through your phone, laptop or tablet anytime, anywhere, right in the palm of your hand.
Automating Accounts Receivable with eStatements
Converting paper statements to eStatements can be part of an automated Accounts Receivable process which will improve accuracy and accessibility, increase efficiency and reduce turnaround times: within 24 hours or less, your clients receive and access their invoices, statements or report information from anywhere in the world.
Canadian financial institutions, managed services support, automotive manufacturers and government agencies are using Octacom eStatements and Reports to reduce their paper costs and provide employees and clients with a convenient way to access their reports, notify and deliver account statements.
