Sending out mail. Seems pretty straightforward, right?
However, when more than 70% of companies send out between 1,000 and 10,000 invoices a month your mail 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 how quickly your business get paid, customer satisfaction, and your mailing expenses.
To help you get started and understand all the different types of mail methods out there, we’ve outlined the three basic ways you can prepare and distribute your mail and the pros and cons of each. But don’t worry in the end we talk about how 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 discounts your postage rates. Finally, you need substantial personnel and space to manage all your mailings in-house.
Of course, many smaller companies who 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 the mail their do 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! Neopost helps you set up a mail workflow that is customized and best for your business.
Ideal for: Businesses that are customer-experience focused and are looking to lower their days' sales outstanding (DSO) and get paid faster.
What it takes to get started: This takes a shift in company culture and the right software. You can get software that centralizes, tracks and archives, the invoices or notices sent via emails. Businesses can then set reminders for customers that haven’t paid, link directly to when they can pay their bill and have tracking 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 our reminders, directly linking to payment portals and more. Finally it gives businesses assurance and visibility that their important communication was both delivered and received.
Cons: This does require a shift in companies 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 spends on mailing materials and postage. Speak to a Neopost representative to see if they can do an ROI analysis for your company.
Ideal for: companies that do last-minute sends, do specialized sends that are tough to complete in house, 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….
Mail fulfillment options are often underused by small and large businesses alike, they are a great option to consider and have 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.
Businesses don’t do one type of mailing or have one type of customer, so your mailing system should not be one size fits all! Talk to a Neopost representative today to see what mailing mix makes sense for your business. The right mix can lower your mailing costs, improve customer experience and get you paid faster.