Electronic document management programs make it easier for organization to handle bills, legal notices, contracts, letters and other statements, which is in part why a recent report by InfoTrends said the market will soon be evolving. The organization said 35 percent of all bills, approximately 8.6 billion in total, will be delivered to U.S. consumers via paperless means by 2017.
“Bills and statements are opened and read more than any other business communication,” commented study director Matt Swain. “As consumers increasingly interact with their providers on the web, via mobile apps, through e-mail attachments, and using consolidated channels, it is critical for providers to have a multi-channel communications strategy that optimizes print and electronic channels.”
CNET contributor Stephen Shankland reported that while going fully paperless will not happen immediately, this move toward using less paper has plenty of benefits for businesses. For those sending these statements, printing, postage and paper costs can be cut.
Consumers who want to receive these statements will have less paper to sort through and can easily search for what they want without having to dig through stacks of paper. By going paperless, organizations will allow customers to search through a database of PDFs instead of sending out multiple envelopes.
“Of course, you might conclude your bank can be trusted to supply such documents if you happen to need them later,” Shankland said. “Personally, I prefer to have my own records and have used them many times for actions like establishing residency and managing taxes.”
While those that send bills and receive them will likely have to adopt new technological trends to keep up with these statements, paperless billing makes everything much easier for businesses and consumers.