The Printing Services Statement Process

The Printing Services Statement Process is a multifaceted task that can be tricky to manage. There are a number of different components to address, including statement design and printing software, file transfer and verification standards, and postal processing.

The first step to any good statement process is to ensure that the statements that will be produced are accurate. This can mean checking each record in the file against a database that has been updated to reflect changes of address made by customers since their last billing statement was sent out.

Whether your company is a financial institution, healthcare provider, or rental property owner, the right statements can be critical to your bottom line. You want statements that are clear and concise, easy to read, and deliver the information that your customers need to make payment decisions.

It is also important to personalize the statements based on a customer’s demographic profile. This can include a phone number, personalized messaging, or other data that is relevant to them.

Once a statement is designed, the next step is to build a print program that communicates with the legacy file and determines which data will be printed on each individual statement. This could include encounter roll-ups for certain accounts, duplex printing, suppression of statements based on A/R aging, or the presentation of customized statement information.

The final step to the statement process is to mail it. This involves ensuring that the addresses in the statement are formatted correctly to receive a postal discount. The best statement processing companies use CASS certification software to verify that each record’s address, city, state, and zip are correct and that the address is entered accurately into USPS’s Integrated Postal Service (IPS) system.