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Have you ever thought of your billing statement as a product?
The statement itself is a crucial product delivered to the customer. It’s the culmination of services rendered, data gathered, and financial transactions processed, all packaged into a document that represents your company’s professionalism and clarity.
Just as a well-designed product enhances user experience and reinforces brand value, a thoughtfully crafted billing statement, where words and visuals are considered holistically, can significantly impact customer perception and satisfaction, as well as improve collections.
Leading organizations are scrutinizing customer communications, recognizing that user-friendly billing statements are fundamental to meeting customer expectations for convenience and delivering a seamless, understandable, and even a positive experience that generates on-time payments.
The best time to update your statement design is at implementation or when launching a new program. Nordis’ Design Specialists, Client Success Managers and Implementation Team can provide expert guidance and practical considerations for statement enhancements based on cross-industry experience and best practices.
Design that complements the content
Studies have shown a strong correlation between readability and comprehension. An organized, visually engaging billing statement incorporating color and white space makes it easy for customers to quickly locate vital content, including payment options and instructions. Improved statement design can result in:
- Faster payments and reduced days sales outstanding
- Fewer customer phone inquiries, leading to call center savings
- Better customer experience and increased satisfaction ratings
- Improved employee experience
What’s trending in statement design
As with other customer touchpoints, consumer expectations for the critical interactions of billing and payments have changed. Customers have little patience with companies that don’t cater to their preferences, including:
- Mobile. With the increasing use of smartphones for communications and transactions, it’s important to provide a mobile-first design that ensures statements are readable and navigable on smaller screens.
- Personalization. With variable data printing made possible by Nordis’ advanced printing technologies, companies can tailor content and include messaging or offers based on individual customer preferences and behavior.
- Interactive elements. Some transactional documents now include interactive elements, such as clickable links in digital communications or a QR code on a paper document that can be scanned to link to a secure payment portal. These innovations allow consumers to immediately act on the bill, providing seamless access to detailed billing information or options to update account details. They make paying bills more convenient for customers, improve customer engagement and prompt self-service.
- Data visualization. To make complex information easier to understand, some companies use data visualization techniques in their billing statements. This can include charts, graphs, and infographics to present usage data, spending patterns, or other relevant information.
The basics of good design
Ready to review your statements? Before diving into any design project, keep these core principles in mind:
1. Clarity and simplicity
Write in plain language, explaining complex information in a way everyone can understand. Organize information logically, presenting the most important details, such as the amount due and due date at the top. Focus on the essential information needed for payment.
2. Visual appeal
Use a clean, professional design and choose an easy-to-read font. Add bolding, color or larger font sizes to draw attention to key elements. Standardize the mailing address position, placing it at the top or bottom on all templates.
For best results, provide your printer with high-resolution images. A file size of several megabytes (MB) often indicates higher resolution. In printing terms, it’s called dots per inch, or DPI, and images should be at least 300 DPI. Also, specify color profiles in CMYK or Pantone rather than RGB, which is used for screened colors.
3. Functionality and convenience
Include a clear call to action and make it easy for customers to understand how to pay. Offer multiple payment options and methods for online, phone and mailed payments.
4. Compliance
Ensure compliance with regulations, adhering to all relevant laws and regulations regarding billing practices.
Nordis can help
The Nordis team worked with an RCM client to refresh its communications templates, adding color for visual cues and incorporating text boxes and callouts to make crucial information pop. Another client is so satisfied with the jointly developed statement design update that it’s the only template provided to new clients. The design is eye-catching and effective, and it’s easy for employees who work with Expresso® to use.
For straightforward modifications, clients can continue using a program change request (PCR). For example, a client recently used this process to add a checkbox for customers to mark if they’re writing their change of address on the back of a coupon.
Contact us to learn more about maximizing the impact of your billing statement.