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QICID: 23980
Title: A Less Costly Billing Process
Copyright: ASQ
Author: Tatikonda, Lakshmi U.
Organization:
Subject: Accounting, Error, Customer complaints, Customer retention, Business results, Quality assurance (QA), Six Sigma, Lean manufacturing;
Series: Quality Progress, Vol. 41, No. 1, January 2008, pp. 30-39
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Abstract: A survey of U.S. businesses concluded that few of a business' internal activities have relevance to its customers, yet the cost of customer billing errors is significant and isn't detected by traditional accounting systems. Studies have shown that a 5% improvement in customer retention can add between 25% and 85% to the bottom line. Customer complaints provide valuable quality assurance and marketing data, but many companies find it difficult to capture such data. The quality tenets of Six Sigma and lean offer a solution. Applying these concepts can help companies identify root causes, streamline billing processes, and reduce billing errors. Sidebar articles describe one customer's billing disconnect experience and how lean Six Sigma can add customer value.
Number of pages: 10
Price for ASQ Members: $5.00
Price for List/Forum/Division: $10.00
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