A new study concludes that within a few years the Internet will answer all your billing and payment inquiries about home and auto loans, insurance, and cable TV, telephone and electric services.
Killen & Associates, publisher of the study, forecasts that $31 billion will be spent over the next five years to install and upgrade Internet-based customer-care systems to handle billing- and payment-related inquiries from consumers and businesses.
“The trend toward billing-centric Internet customer-care systems is a bonanza for IT suppliers, including American Management Systems, BlueGill, CheckFree, Convergys, eDocs, Electronic Data Systems, IBM, and Novazen,” according to Karl Duffy, vice president, Killen & Associates.
“We and hundreds of other companies that issue the bulk of monthly bills to consumers and businesses are implementing the next generation of customer-care systems that enable customers to use the Internet to quickly and independently obtain answers to their questions about bills and payments,” says Charles Gunn, Peco Energy.
American Express, AT&T, Chase Credit Card, First USA, MCI and Southern California Edison are a handful of the major billers already implementing the next generation of customer-care systems.
The 160-page study — Enterprise E-Billing and Payments Market: New Opportunities for Billers, Merchants, and IT Suppliers — is the third volume of a three-volume study on Electronic Bill Presentment and Payments.
Killen & Associates is a leading market research and consulting firm whose studies, seminars, and video interviews enable clients in the telecommunications, banking/financial services, and information technology industries to identify business opportunities created by technology advances, public policy changes, and market forces.Details