Security of invoices, statements vital to customers

The recent launch by Standard Bank of secure electronic delivery of client statements has served to add momentum to the previously cautious adoption of e-billing in SA. As a result, more financial institutions and retail outlets are beginning to add secure electronic document delivery to their offering, resulting in a strong and growing consumer interest.

A recent survey conducted by The E-mail Corporation and ITWeb indicates that consumers view security as paramount in the electronic delivery of their invoices and statements. Some 86% of the consumers surveyed said it was highly important that others not have access to their personal information. The fact that the majority of bills are sent through the post, where anyone could open and read the enclosed document, is a growing concern.

When asked whether they would prefer to go to a Web site to view their invoices or have them e-mailed directly to their inboxes, an overwhelming 92.5% of respondents voted in favour of e-mail delivery.

"This is not surprising, says Mike Wright, CEO of The E-mail Corporation. "E-mail has become an indispensable tool for both business and personal use. Not only is it immediate, cost-effective and convenient, but e-mail is also the chosen vehicle for the exchange of confidential and privileged information with colleagues, partners, clientele and others."

Forrester Research predicts that "as the demand for e-billing grows, bills will be distributed wherever the customers choose".

"And if current trends are anything to go by," says Wright, "customers will choose their e-mail inbox."

Consumers were, however, undecided as to the format in which they would prefer to receive their e-mailed statements. 39% selected the HTML option, 10% were happy with pdf, while 51% maintained that they had no preference between HTML and pdf.

Respondents were given a list of organisations from which they are likely to receive regular bills. They were asked to indicate from which companies they would like to receive their invoices via electronic delivery. The obvious choices were Telkom and municipality, banks, retail stores and cellular service providers.

When it came to payment, 71% of respondents indicated that they would prefer to pay their bills online, as opposed to the 29% who voted in favour of debit orders.

It is highly likely that e-billing will become the fastest growing e-commerce business in SA over the next several years. Why? Simply put, because everyone involved stands to benefit from the process.

Billers will cut costs significantly by eliminating printing, paper, envelopes, postage, and the processing of paper cheques and payment. Customers will benefit from being able to streamline the monthly monotony of managing traditional paper invoices and statements.

Convenience for customers is one of the primary factors driving the move to e-billing, as customers have the power of banking at their fingertips all day, every day. The ability to analyse their invoices and statements around the clock, combined with the availability of information on demand, makes managing their finances more convenient than ever before.

Regardless of where they are or what the time, customers are able to access their invoices and statements, and in some cases, respond quickly to critical situations.

If the results of The E-mail Corporation's survey are a sign of the future, e-billing will become a necessity for any company seeking to satisfy its customers. Not only do many consumers already appreciate e-billing, but many are beginning to demand it.