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Think About It / PATRICK KEHOE /

/ SCOTT DRAEGER /

AN INTERESTING STUDY OF BANKING CUSTOMERS BY ACCENTURE FROM DECEMBER 2020 FOUND THAT GOING DIGITAL LED TO A WEAKENED PERSONAL AND EMOTIONAL CONNECTION WITH CUSTOMERS.

DID YOU KNOW THAT WHEN A BUSINESS USER ADDS A TABLE, CHART OR INFOGRAPHIC FOR CLARITY, YOU MAY INCUR A FILE SIZE UPCHARGE? OR THAT WHEN YOUR LEGAL TEAM ADDS A PAGE OF DISCLAIMER TEXT, YOU MIGHT ADD AN ADDITIONAL PAGE CHARGE?

/ SUYASH KAUSHIK /

/ HK BAIN /

The Institute of Finance and Management (IOFM) has estimated it costs an average of $11.76 to process a single invoice, and 70-80% of invoices in the United States are still paper based. Those that switch from paper to digital invoices save $5.46 per invoice.

Bad listening practices means poor responses from the company side, leading to loss of trust in customers. An effective way to deal with the challenge is to set up standard practices to deliver responses and make use of templatebased content that cover a wide range of customer communication.

/ WILL MORGAN /

One survey found that even though the youngest consumers were the most likely to take steps toward digitization in the wake of initial COVID-19 outbreak, they were the least pleased with their digital experience and the least likely to report that they plan to continue communicating with their providers this way in the future.