Many organizations today recognize the importance of the monthly bill as an effective medium for communicating with their customers and have begun to use it to its full potential as a direct marketing response tool.

Tuition Management Systems recently commissioned Ruth Griggs Fontana, a independent strategic marketing and communications consultant with over 20 years of experience from the client and agency side in financial services, to prepare a summary of the opportunities and benefits of enhancing the billing process. In her white paper, Best Practices in Billing Communications, she provides insight and perspective she gained from numerous one-on-one interviews with business officers of higher education institutions.

In this white paper, Fontana provides very specific information on how institutions can employ best practices to create a continuum of communication an affect a more sound billing process. Griggs recommends that business officers ask strategic questions about the value they are achieving from their current processes, what needs to change, and whether or not they have the resources to implement those changes on their own. She also addresses the many operating efficiencies that can result in dramatic cost savings in billing preparation and mailing, late fees and staff expense.

In an effort to accommodate the needs of their member schools and an ever-changing market, Tuition Management Systems employs these “best practices” within their own business model. As a result, the company consistently delivers industry-leading payment rates proven with their over 1.5 million bills annually. Their success with past due accounts comes from an innovative, time-tested, and integrated process.

Tuition Management System's effective collection process begins with sending timely, easy-to-understand monthly bills to payment plan payers via a variety of media. Based on the belief that the easier it is to pay a bill, (e.g. via the web, speech IVR, Contact Center), the more likely it will be paid, these paper and electronic billing solutions reflect “best practices” in presentation and the delivery of options to students. In addition, as a third-party billing partner to institutions across the country, their billing statement receives immediate attention; it is a reminder and a motivation to pay.

Like many other companies today, Tuition Management Systems also uses the bill as a channel to extend their brand image and to deliver timely, targeted messages to their customers. They find that well-designed bills that clearly and effectively communicate result in favorable customer impressions and are paid more quickly.

Fontana believes that it is imperative for business officers to allow their billing partners to guide them toward the latest, customizable communications tools available through online portals and access to affordability planning and counseling resources. She points out that providers of electronic billing applications must recognize the need for the human touch that customers need and expect and that, like Tuition Management Systems, many companies are integrating online communication and links to customer support in their solutions.

About Ruth Griggs Fontana
Ruth Griggs has extensive experience in developing and implementing strategic marketing and communications programs. Her clients include American Express, Citibank, Dreyfus and Official Payments. An expert in online and offline communications, she specializes in enhancing customer communications through billing.

For more information contact Ruth Griggs Fontana at RC Communications, 15 Cushman Road, White Plains, NY 10601. Tel: (914) 949-1188.

Tuition Management Services invites their member schools to learn more about Fontana's findings by contacting their Relationship Manager.