Bill Recipients Say Email Billing is Better

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New study by Billtrust and IDEXX Laboratories highlights preference for electronic billing.

While the goal of the survey was to evaluate ways to improve our billing process, we were pleased to be able to transition many of our customers to electronic billing.

Billtrust, the leading billing service provider, announced results of a billing survey conducted in conjunction with IDEXX Laboratories. The goal of the study was to measure satisfaction levels among IDEXX customers for their bill delivery method and bill design. The results of the research highlight the importance for B2B companies in understanding the different bill delivery methods available.

Over 1000 IDEXX customers completed the survey in 4Q 2008. The conclusions indicate a high level of preference for electronic bill delivery methods. Among IDEXX customers who were already receiving their bill by email, 95% said they prefer this method. This compares with 77% of IDEXX customers getting their bills by US Mail saying they prefer US Mail for receiving their bills. The large majority of U.S. Mail customers who said they would prefer an alternate method stated a preference for email or online billing.

According to Melissa Seader, Senior Manager Accounts Payable/Accounts Receivable at IDEXX, "While the goal of the survey was to evaluate ways to improve our billing process, we were pleased to be able to transition many of our customers to electronic billing." Seader continued, "We were able to satisfy more of our customers, reduce our billing costs, and do some good for the environment."

Other findings of the survey further emphasized the role electronic billing can play:

  •     The primary drivers of preference for email bill delivery include "Ease of Keeping Organized" and "Timing to Receive Bills". B2B bill recipients say they want to get their bills faster so they can 1) take advantage of early payment discounts, and 2) bill their own customers faster.
  •     Electronic bill recipients are twice as likely as US Mail recipients to pay their bill online. For billers, this indicates a pathway towards further cost reductions. By migrating more customers to electronic bill delivery, businesses will be better positioned to transition them to electronic payment.
  •     Over 60% of IDEXX customers are using QuickBooks and Peachtree accounting systems. IDEXX can use this data to drive electronic adoption even further by offering these clients the ability to download their data directly into these accounting systems. This is done using Billtrust's EasyImport technology.

"The IDEXX results are consistent with the conclusions from surveys we have conducted with our other clients," said Mitch Rose VP Marketing at Billtrust. "Many of us tend to focus on driving eBilling because of the significant cost savings and the environmental benefits, which are both very important. However, often overlooked, is the opportunity businesses have to drive customer satisfaction by migrating their customers to electronic bill delivery."

About Billtrust:
Headquartered in Jamesburg, NJ, Billtrust is a leader in outsourced billing solutions. The company's flagship product and service suite, called CompleteBilling, consists of paper, fax, e-mail and online billing (EBPP, EIPP). In addition, the company provides expert bill design, in-bill marketing services, and an integrated online customer service tool called CustomerCare. These comprehensive tools automate the billing process, enabling businesses to save money, increase productivity, improve cash flow, and seamlessly migrate to electronic delivery. More than 350 companies nationwide rely on Billtrust for their billing needs. For more information, visit Billtrust online at http://www.billtrust.com.

About IDEXX Laboratories (NASDAQ: IDXX)
IDEXX Laboratories, Inc. is a leader in pet healthcare innovation, serving practicing veterinarians around the world with a broad range of diagnostic and information technology-based products and services. IDEXX products enhance the ability of veterinarians to provide advanced medical care, improve staff efficiency and to build more economically successful practices. IDEXX is also a worldwide leader in providing diagnostic tests and information for the production animal industry and tests for the quality and safety of water and milk. Headquartered in Maine, IDEXX Laboratories employs more than 4,500 people and offers products to customers in over 100 countries.

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Mitchell Rose
Billtrust
609-235-1010 ext. 122
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