It's no secret that there is a world-wide decline in transaction mail that is caused by the adoption of electronic delivery. This trend has been happening for almost ten years now. In fact, six years ago, in 2012, households were already paid more transactional documents electronically than by mail. Currently, 56% of all bills are paid electronically due in part by the rise of Gen X and Millenial generations.
It can be said that transaction documents are the lifeblood of a business. They bring in cash flow to your organization, which ultimately means you get paid. However, the process of sending and receiving transactional documents can be labor intensive and result in negative cash flow if it is not conducted in an efficient manner.
Episode 2 of our Whiteboard Educational series dives into the anatomy of transactional documents, the different techniques companies use to handle this process, and the best transactional document management practices.