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Invoicebus for Customer Service

all right it's one minute passed so let's start uh good morning everyone and thanks for joining uh our webinar titled how to improve the digitalization of b2c invoice delivery and Boost payments um hope you will enjoyed this session with us and and for the next 30 minutes we will discuss common challenges in invoice distribution uh why companies should be aware of these challenges and and we of course lay out practical Solutions and best practices and this webinar will be recorded and accessible uh to everyone after the webinar and I would also like to point out that you can ask questions in the chat and we will address those questions uh at the end of the webinar um but before we introduce the agenda we would like to quickly introduce our speakers for today so I'll go first my name is Rob El mola and I'm working as a sales manager at the at every focusing on b2c invoice distribution services and I'm based in Helsinki Finland and I have two of my colleagues here with me Karina and yuruki so so can you please introduce yourselves too yes definitely could you change the slide please Robert so my name is Colin Ramsey I work in product management predominantly with pre-sales activities and have a lot of focus on customer experience so very happy to meet you guys and hello my name is Yorkie pottery and I'm working in sales for B2B integration including b2c invoice delivery and I cover all B2B integration as well so like Bank connection supply chain messages authorities and and so forth very nice to have you here thank you great thanks so so here's our um detailed agenda for this webinar so firstly I'll discuss some common challenges in b2c invoice distribution and payments and we'll get through some best practices and solutions to those challenges then secondly Karen will tell you more about our live invoice solution uh and after that year it will touch upon requests to pay developments and lastly we will have some time for your questions but before we dive into the topic let's have a quick poll so so you can answer by clicking one of the options appearing on the screen soon so we would like to know which of the following is the biggest challenge for your company and and you can select one answer only so one reducing paper invoices having an easy view of customer Behavior data improving customer self-service offering a seamless payment and checkout experience retaining customers or enabling customer dialogue and I'll give you a moment to answer all right and I think we will close the poll now so we have received your answers thanks a lot for your input and we can see that reducing paper invoices as received the most um votes so that's the biggest challenge based on your input and and this is really interesting and your feedback is is really valuable us and we will continue to discuss this challenge more and and its implications and practical solutions to it as well so thanks for your input uh uh but but let's move to the next section so here I would like to discuss some common challenges companies are facing in bhc invoice distribution and payments and why those challenges are relevant so meaning that why they should not be overlooked and why they definitely should be solved uh so so firstly many companies are are still relying a lot on paper-based communication it's very common for companies to struggle with how to activate uh digital channels to reduce paper invoices and this traditional way of Distributing invoices involves printing stuffing envelopes and mailing them so it's not only time consuming but also costly and and or also paper invoices are often lost uh or delayed in transit which causes inconvenience for both uh the sender and the consumer and and um everyone knows that being present in digital channels is important and the challenge is not to make companies understand this but but rather companies are struggling with how to activate digital channels so their emphasis is on the how so how to move from paper to digital taking into account the preferences of each customer and and why this is relevant here we have a company perspective so moving from paper to digital increases cost efficiency so so digital invoices are as we know considerably less costly to deliver even up to 10 times cheaper and and digital invoices also decrease payment errors caused by the customer besides uh of course companies can reduce their environmental footprint uh helping them to achieve their sustainability targets and and in addition digital invoices allow companies to collect insights on customer behavior and preferences so uh compared to paper paper-based invoicing doesn't allow businesses to track the customer Journey or call it data on it then a second common challenge for companies now from a consumer perspective is how to provide a seamless customer Journey from receiving an invoice to paying it so nowadays customers expect a simple intuitive and then hassle-free billing experience and and an example of a broken customer journey is a PDF invoice sent to Consumers by email or a company portal allowing consumers to view invoices but not pay them so so these examples um don't create a good uh payment experience for the consumer and and why this challenge is relevant well of course uh to be able to provide an exceptional customer experience and retain customers is important and and we know that uh in times of economic downturn or recession uh that we're currently living in there are time of increased customer churn as customers are aggressively looking for the best value alternative and that's why winning companies need to invest in Superior customer engagement and then lastly of course making uh by making the payment experience smooth but for the consumer uh this contributes to an improved cash flow then lastly and this is not maybe a challenge but something companies should realize and remember so how to maximize the communication potential of invoices to many companies invoices are a highly important communication medium and to some companies it's even the only Channel through which they are actively in contact with their customers on a monthly basis so so here we want to highlight that invoice can be much more than just a document so uh these are some of the most important challenges for companies in the invoice distribution that need companies focused uh and here we have an example of how disruptions in the market can affect inverse distribution and why a multitinal delivery approach is important so this spring we Face strikes in Finland that cause delays in physical mail delivery including invoices and other communication and and these disruptions are of course costly for companies as they increase contacts to customer service depend on their unpleasant for customers as they don't receive information on time and this example just underlies through fact so so moving to digital is important to increase the speed of delivery and and reduce risks related to Post delivery and and secondly companies must be able to reach customers in the digital channel they prefer so so being able to bridge customers in several digital channels is important then moving to best practices so so how can companies then tackle these challenges we laid out and and what are some best practices so how to activate digital channels to reduce paper uh in Finland some companies can utilize this receiver proposal message to drive e-invoice adoption among consumers so this requires that the company has consumers personal identification number so how it works is that the invoice issuer may use this receiver proposal message in order to obtain the customer's invoice address the invoice issuer creates this receiver proposal message for the customer who then sees the proposal and approves it in their online bank and then after this approval the invoice this year gets the customer's invoice address via that message then of course companies should utilize the digital delivery channels such as digital mailboxes like gibra or swami.fi messages Etc customers are increasingly adopting these kind of digital mailboxes and these most of these mailboxes allow payments to then lastly automated channel orchestration is important so that documents are delivered in the channel digital or physical uh preferred by the customer uh so if customer is not present in one digital channel the other digital channels can be checked before physical mail is delivered then going to the Second Challenge so how to provide a seamless customer Journey from receiving an invoice to paying it um and an important part of this is that companies enable consumers to receive and pay their invoices in the same channel so so for example if consumers can be in the process on a company portal they would probably also want to have the possibility to pay them there and and secondly uh part of good customer service is reminding customers about unpaid invoices so so companies can provide digital reminders with the possibility to pay directly so this is related to the first point so if you send out a reminder don't make the consumer to to pay the invoice your mind about in a different Channel then lastly improving self-service so companies can promote frequently asked questions on the invoices and and allow customers an easy view of their data for example invoice specification or or old invoices then lastly with the challenge of how to maximize the communication potential of invoices as I mentioned invoice can be much more than just a document so so it can be used to drive upsells so customers can receive targeted offers uh personalized communication on invoices and and companies can also use invoices to enable two-way communication so companies can collect customer feedback to understand their needs better so here I lay out some Solutions on a high level and best practices but how can companies then actually put all this into practice uh Karen could you tell us a bit more about this yes I can thank you Europa so basically what all the things that have been talked about is that we all the communications efforts that we do they are building the brand it's building how our customers perceives the company and its product and how do we want them to perceive it then well of course we we need to ensure the customer engagement because it's more important than ever since during this global economic downturn we need to continuously build on this engagement and ensure that we don't get cancellations of these subscription services and we have seen a lot of that because we we due to the recession there is a lot of consumer going through all of their subscription services and and wondering how they should handle this lowering the cost is of course a main thing but it's not the only reason for changing supplier there are a lot of other parameters that are valid too such as feeling important to to the supplier uh having the possibility of getting a better overview and do several errands at one time self-service talked about and also to be able to swiftly choose the payment method and get other types of information at the same time so uh what are the the tips then talking to the customers directly and empathetically and where they want to engage that is a very good tip and that is something that Robert talked about also personalize the content so it feels relevant and valid to the recipients and utilize the data you have about your customers to become even more good at this and the third one is make your business indispensable to your customer by providing both perceived and real value and how are you going to do that then there are a lot of things that is possible to do but we have been in this business uh for a really long time Distributing communication on our customers behalf and we have seen the shift towards another way of communicating having the possibility of being having a dialogue being more interactive and I will show you a really short video uh about this yes so basically live invoices of personalized landing page in HTML5 format which enables you to have this dialogue with the customer why you for example send out an invoice uh the End customer can choose to do other things at the same time you can add targeted material and video content and you can also uh ensure that the when the customer decides to pay the invoice they can choose the payment method they prefer and do it directly that works especially good for example for reminders when you just want to get Rhythm and really fast and you just choose the payment method pay it and it's done since we are all focusing on customer experience you can also ask them within this send out to rate your experience for example with one to five stores and then you can continuously update the customer experience over time making it better and better listening to your customers so the live invoice send out can be distributed via email SMS via company specific app or my pages do you get an improved reach and you can also use like the invoice for additional information like for example if the customer prefers to pay their invoice via the Internet Bank you can send out a non-payable live invoice communication and give the customers the opportunity to interact with you without changing their preferred way of paying the invoice so there is a lot of options to utilize this service and of course it is connected to our multi-channel service which means that all of these channels are available so let's say we have an email that bounces this message would automatically then go further down the hierarchy of channels so the fallback is automated and take into account that the right channel can differ from recipient to recipient and it can also vary over time so it's important for the consumers to be able to choose Channel preference and they might also choose it depending on the content of the communication itself so targeted relevant communication will give you a better notice rate as well as response rate have a clear message ensure that your recipients understand directly who you are and what you want the intuitive user experience and clear call to action will give this impactful communication and build the brand so it should be easy to become a customer and it should be easy to stay a customer for a long time in addition just to ensure that you have all the information related to this we have the live invoice dashboard and that is for our customers it's not for the consumers it's for you it's basically a dashboard with information that you can utilize to further improve the experience over time so you can see what type of documents you have sent the number that is sent out and how they are distributed you could see if the customer is opened your send out or download and or downloaded and you can also connect this dashboard to payment status so you know how money have paid and how much is outstanding and also which has how many reminders have we sent out I think this part is the most important one because here you have the user Behavior and you can see in this top part the timing like when did your consumers read your sendouts and how much time did they spend on it what devices do they use are there many that utilize the mobile phone or are they still on the computer and basically that is also good information so you can further improve the experience over time and from a marketing perspective you can see how if you add links to additional Pages uh how what pages did the consumers click on what was most interesting to them since uh live game was also supports shot and frequently asked questions you can help out decreasing the pressure on customer service and in this view you can see what the consumers what what type of frequently asked questions did they click the most maybe you need to add some questions to ensure that they they get their answer by self-service instead of calling and you can see if they look at historical invoices and which type of payment they have chosen to pay the invoice with and of course we will add to this view as we further develop this product but now you can export this data also to excel to put it up in with it whichever way you prefer to to do the Analytics so hopefully you will can you will find this valuable and something that is aiding you to do this continuous Improvement of the customer's experience over time because that is what we all are after you request to pay that is interesting thank you current so request to pay you something you may have heard already and the question is that how much will it challenge invoice in the future if thinking about kind of current situation there are invoices invoice is a sentence everything is is worked in in a kind of bad mode so that's payment will will come and and there is it's a matter of of days it's not a kind of a real-time process what is now coming is this request to pay and and the Banking and Financial Industries driving it and the difference there is that it supports both instant payment and due date payment so so basically it's it's possible to use that for in-store payments for instance and all situations where where instant payment is needed and then the good news is that when having sending invoice is currently in multi-channel we can add this request to pay as a new channel and convert uh as as needed to request to pay format so basically uh one could use for invoice payment and this request to pay without any changes at your end then how does it work it's so that there is kind of the kind of three differences with invoice there are kind of confirm and approve messages from the payer and real-time payment option so when having these two parties there is someone delivering services or goods and then the customer when sending this request to pay it's an API request real-time request and enter one gets real-time response as well if this request has reached the the receiver so a receiver can access it and and that's that comes directly then later on there Comes This approve message which tells that if this receiver has intention to pay on due date or and and in case the receiver is paying uh immediately it is instant payment then then those are kind of happening those approval and payment at the same time then payment is happening using current practices like there is a separate credit transfer for best payments and and due date payments and entered then sepa credit transfer instant for instant payments if you want to know more about this there is ongoing a program called battery where theater every striving that and and that includes real-time bill payment proof of value it's done together with Visa who is having its uh request to pay platform in production in UK and there will be information sessions on actually first tomorrow 16th 25th and and if you would like to know more about this request to payan and how does it really work and and uh what what kind of uh issues are involved in that you are welcome to participate and kindly contact us and we can provide you invitations to you for this um events and and getting this everything uh kind of uh explained but that's about uh request to pay interesting new opportunity so back to Europe yeah thanks a lot you'll give her interesting um I can see we have only four minutes left and and uh we have now reached reached the end of the webinar but we would now have time for your questions so so let me see if you have any questions in the chat not that I see but um maybe I can pose a question uh that we have been asked that might be interesting to you uh in the audience as well so so yuruki uh regarding the request to pay uh should we wait for that rather than look into to some other digital channels now as you mentioned that it will to some extent to challenge the traditional invoice yeah no one knows yet that how much uh or how soon request to pay will take over but as I mentioned earlier when we have this multi-channel approach and and several channels to deliver those invoices we have full capabilities to to convert from existing invoice formats to this pain 13 format what request to pay is using so it is just one additional Channel and no changes are needed for invoice issuers they can send all their invoices to us like earlier so we are fully ready or request to pay yeah thanks make make sense uh I can see we don't have any other questions so so maybe I can take the opportunity to ask one more question uh from Karen so so you presented the live Universal multi-channel so so in which countries can we provide this service and in which countries can we support our customers to automate and orchestrate the channels we have a full full-blown Nordic offer but we have also followed our customers uh into Europe so we are we are delivering these Services these type of services in many countries all over Europe as well and for uh live invoice of course we can support uh all of Europe and Beyond it to be honest yeah yeah great so so in a way we can follow our customers where they are going okay but but I don't see any questions in the chat so so we could wrap up then so we would like to thank you all for participating and please contact one of us if you're interested in discussing more or if you have any questions and we'll send the webinar material to you after this webinar and and yeah we're happy to help if you have any questions so so thanks and have a good day so there was one question it said if you can notice so so kindly send to me Yorkie uh an email and I I will I will kind of fix the invitation to this if it goes to pay seminars we'll do that thanks for noticing I was almost closing uh but yeah we'll definitely definitely do that so so Tommy I can send you those invitations when if you if so you if you have interest you can participate yeah um but yeah we don't have any other questions so let me thank you one more time and and and please contact us if you have any more questions or requests we're happy to help so so thanks for joining in have a good day have a good day thank you very much