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Accelerate Digital Billing Adoption in Weeks

September 07, 2020

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In Australia 30% of residences and most commercial property is rented.

If you supply power, gas, telco, water or levy local government rates, you probably send 20% or more of your bills to owners of multiple properties or property managers who process and pay bills for the owner.

Since late 2019, Payreq has worked with a range of such Billers and Property Managers to quickly and easily support delivery of bill data into Property Management software for automated processing. And, working with the larger players, the typical adoption rate of fully digital billing by authenticated registration, is around 50% of all agent-managed properties in the first quarter. 

“As we studied the cashflow cycle for property-related billing, we found we could help property managers understand and setup an easier way to deal with their suppliers and avoid all the data entry associated with processing and paying multiple bills” says Brian White, CEO of Payreq Australia.

The Payreq team understand the import functions of the main trust accounting packages used in Australia and have modified the Payreq MyBills platform to support integrated delivery of bill data, eliminating paper, emails and errors.

 “We found it was so easy to setup the MyBills integration to our PropertyMe software. Now our bills flow straight into the accounts for approval and we have all the payment references in there to report to owners and make paying easy.” Paul Nees, Principal of Ray White Lane Cove, receives bills from suppliers now via the Payreq MyBills integration with their cloud-based software.

 Around 40% of residential and commercial properties in Stonnington City Council are looked after by Property Managers, who pay rates notices out of trust accounts for the owners.

 Revenue Manager, Robert Smart, knows that email, while it is cheaper than paper and post, is now last generation technology, and still has some of the same limitations. The payer still has to key data into something to pay the bill. And senders don’t really know if an email arrived or went into spam. Or got deleted from the receiver’s inbox.

 Where ratepayers have migrated to Payreq MyBills digital notice delivery, payments are more often on time or early and call-centre activity is reduced as rates information and address maintenance is all self-serve.

 “Halving the number of paper or emailed pdf bills cuts out downstream payment reconciliation issues and a lot less calls sorting out ons and offs for agent portfolios. The Payreq management console gives us a comprehensive view of whats going on and we like the easy online “return to sender button” for the agents who forget to tell us they no longer manage a property.” says Layla Zein, Rating Improvement Officer at Canterbury Bankstown Council in Sydney.

 Many Billers on the Payreq platform have 50% adoption within a few weeks and expectations are high that, over time, the majority of agents will learn about MyBills Agent and choose to receive their bills online too.

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