TransCentra, a leading provider of billing and payment software and services, demonstrated its early success in bringing its billing and payments expertise to the middle market with the recent signing of three new customers.
These customers all signed contracts for TransCentra's latest offering, which combines the company's managed billing and payments processing services in a templated package, built and priced specifically for mid-market customers.
"For a long time, economies of scale demanded that we work with customers of a certain size. However, we believe there is a large, underserved middle market that can truly benefit from our billing and payment processing services," said Lynn Boggs, CEO of TransCentra. "We made the necessary investment in technology and reworked our processes to bring these services, previously available only to large enterprises, to organizations of all sizes. We are one of the only vendors that can deliver these sophisticated services to mid-market customers at such a reasonable price, and these new customer wins support our approach."
TransCentra's new mid-market customers are in the utility and insurance industries, although the billing and payments solution meets the needs of organizations across any vertical, including healthcare, financial services and automotive. The services give companies a single source option for managing their entire revenue cycle, from billing to remittance. The mid-market offering also handles all supporting correspondence in conjunction with a bill. Critical pieces of communication, such as new customer welcome letters or notifications for late bills, are available in a quick-to-market, templated form for organizations to roll out in as little as 60 days.
As the largest managed payment processor in the United States and one of the largest managed billing service providers, TransCentra applied its extensive knowledge of the billing and payments process, customer service, and regulatory and compliance expertise to offer mid-size companies a complete multichannel solution. Multichannel options include print and mail, web, email, mobile, digital post office and IVR (Interactive Voice Response). Access to multiple channels gives companies the flexibility to customize and adjust their offering based on billing and payment needs.
In August, North American Power, one of the nation's fastest-growing retail energy suppliers, announced its selection of TransCentra's mid-market, multichannel billing and payments processing solution to enhance communication methods for more than 250,000 customers as well as promote operational efficiencies.