Once BOC customers understood the advantages of receiving their invoices by email compared with traditional post they were quick to sign up. BOC now deliver over 50% of all invoices going out via email and a positive ROI was achieved right from the start with key results being:
- Higher and more efficient invoice delivery rate – BOC experienced a significant reduction in the “Gone No Address” (GNA) mail and VPost improved their ability to get invoices out in time.
- Since implementing VPost cheque payments have reduced steadily with more customers taking up the option of Direct Debit and Direct Credit payments and payments are quicker with BOC’s over 60-day debt now very low in comparison to overall debt.
- Improved efficiency for customers with invoices delivered directly to customers inbox allowing them to upload them directly into their own accounting systems.
Reduction in Day’s Sales Outstanding (DSO) - BOC has always had a good DSO record however since the introduction of VPost they are now achieving less than 38 days DSO - key factors contributing to this include:
- Getting the invoices to the customers faster
- Not having the mail ‘go missing’
- More expedient turn around of ‘bounce back’ emails
- Ability to concentrate more resource on GNA mail
BOC’s monthly spend on regular mail has decreased by approximately $7 - $8k per month, giving them an annual savings of almost $100,000.