Output Technology Solutions, the leading provider of bill and statement processing solutions, announced this morning the formation of YourAccounts.Com, a new division focused exclusively on recurring customer interactions via the Internet, including electronic bill presentment and payment and statement presentment. YourAccounts.Com today also debuted with two new product families — e.bill.anywhere — for delivering electronic bill presentment and payment solutions for the financial services, communications, cable TV and utilities industries — and Informa — for delivering e-statements and other electronic communications to mutual fund and brokerage investors.
YourAccounts.Com makes its debut as a division of Output Technology Solutions, the leading processor of bill, statement and related customer communications. The division already has fully operational electronic billing deployments underway at major customer sites including Cellular One of San Francisco, MCI WorldCom, Pepco and Time Warner. The division has the charter to pursue new alliances and customers and develop technology solutions, but will also leverage OTS’s 30 years of bill and statement processing experience and its existing customer base, automatically giving it the potential to reach more than 50 percent of US households. John Korvin, an industry veteran with more than 20 years of experience at Xerox and Computer Sciences Corporation, has been named president of the new division.
“Our mission at YourAccounts.Com is to enhance customer communications via the Internet,” said Korvin. “Our unmatched expertise in billing and statement processes, combined with our Internet experience implementing systems for major customers, enables us to offer a unique solution. As the Web becomes the de facto standard for billing, statements and interacting with customers, we believe we will play a leadership role.”
New Division Targets Growing Market
The electronic bill and statement market is growing very rapidly according to The Yankee Group, which estimates the e-bill market alone will grow from 1.6 million households using Internet billing in 1999, to an estimated 10.8 million households by 2003.
“To be a winner in this space it is critical that vendors demonstrate the ability to handle, format and route tremendous amounts of data to wherever the customer wants to see their bills and statements” said Paul Hughes, a senior analyst at The Yankee Group. “Leveraging Output Technology’s 30 plus years of bill and statement processing experience and world class data centers, YourAccounts.Com has the capability to meet the rapidly expanding requirements for electronic bill and statement presentment.”
e.bill.anywhere Product Family
YourAccounts.Com’s family of billing products, e.bill.anywhere, focuses on electronic bill presentment and payment, giving billers the ability to meet the demands of the consumer for EBPP, while leveraging the communication and marketing opportunities of the Internet. Taking a unique approach to the market, YourAccounts.Com plays the role of independent agent, not only processing data but also representing the biller’s interests with key consolidators and portals. This approach enables billers to interact with customers via the Internet anywhere, anytime … today, tomorrow and in the future using any one of several emerging billing models.
“MCI WorldCom is committed to providing several high-quality EBPP options to our customers through our Online Account Manager,” said Kathleen Rumfola, director of online marketing at MCI WorldCom. “Today’s announcement is another step toward our goal of ensuring that our customers can pay their MCI WorldCom bill electronically through whatever e-bill provider best suits their individual needs.”
The e.bill.anywhere product consists of three fully-hosted bill payment and presentment products — anywhere.direct, anywhere.consolidator and anywhere.B2B — that will eliminate complexity, offer a single point of contact for all billing models and guarantee reliability handling large-scale billing processes:
— anywhere.direct — Enables billers to present bills to consumers and accept payments from their own Web site using YourAccounts.Com’s hosting services.
— anywhere.consolidator — Provides all the features of anywhere.direct plus secure routing and transmission to multiple consolidators, currently supporting Bank of America, CheckFree and Transpoint.
— anywhere.B2B — Provides secure Web-based access to billing information for large account customers.
Major customers that are already deploying the e.bill.anywhere solution include Cellular One of San Francisco, MCI WorldCom, Potomac Electric Power Company (Pepco) and TimeWarner.
Informa Product Family
In addition to the EBPP solution, YoursAccounts.Com also today announced Informa, a suite of hosted products for the development, production and Internet delivery of account statements and other recurring investor communications. Informa combines YourAccounts.Com’s innovative Internet technologies with its proven core competencies in managing and processing customer data to produce customized communications in high volume. The results are personalized investor statements and other personalized communications that help mutual fund and brokerage companies build better relationships with their customers. The three components of the family are:
— Informa Investor — For electronic presentment of statements, trading confirmations and tax forms which are personalized to each investor and which act as a gateway to a fund or broker web site.
— Informa Broker — Provides electronic presentment of investor documents to brokers, tailored to the specific client-management needs of financial intermediaries.
— Informa Compliance — Offers a low-cost, efficient method of presenting SEC compliance materials to investors via the Internet.
The e.bill.anywhere product line is available today. Informa Investor is scheduled for availability in Q1 of next year, with additional Informa products available later in 2000.
YourAccounts.Com(SM) is a division of Output Technology Solutions, the leading provider of paper and electronic statements and other documents to companies who value customer communication and customer service. YourAccounts.Com is focused exclusively on Internet bills, statements and related recurring customer communications. YourAccounts.Com and its parent company serve companies in a range of market segments, including communications, video services, mutual fund, brokerage, banking, insurance and other industries. YourAccounts.Com and its parent company have long-term relationships with 300 major customers, such as Cellular One of San Francisco, MCI WorldCom and Pepco. More information can be found at [http://www.youraccounts.com].