Agricultural Co-op Land O'Lakes Finds Billtrust EBilling Fertile Ground For Cost Savings, Better Customer Service
HAMILTON, N.J., April 4, 2013 /PRNewswire/ -- Land O'Lakes is a whole lot more than butter. The Twin Cities agricultural co-operative, second largest in the U.S., serves its nearly 4,000 direct producer-members and 900 member-cooperatives not only by marketing its famous food products, but also by satisfying agricultural needs ranging from business development services to animal feed, agricultural seed and crop protection products.
Every month, Land O'Lakes sends out hundreds of thousands of invoices to its customers. Printing and mailing all those paper statements is a major cost—one that the organization sought to reduce by taking advantage of modern Web-based billing services.
"eBilling is clearly the wave of the future," said Chief Information Officer Barry Libenson. "Our legacy system, however, wasn't equipped to handle online billing. We began to seek out a partner who could supply a top quality online billing portal and related support service, all in a cost-effective cloud solution."
A friend of Libenson's, the former chief financial officer of one of the world's largest food and beverage companies, recommended Billtrust. "He gave Billtrust very high marks, having worked with them for some time. We explored Billtrust on our own and were very impressed."Billtrust offered Land O'Lakes not only a robust Electronic Invoice Presentment and Payment (EIPP) service ( Invoice Gateway™) that could be private-labeled, but also a flexible selection of other services. According to Libenson, even Billtrust's print billing alternative had advantages. "As much as we would like to move 100% to eBilling, there will always be accounts that prefer mailed statements," he stated. "Billtrust has nine mailing facilities nationwide. That saves on delivery time and gets our bills into customer hands days faster." Billtrust's SaaS (Software as a Service) orientation was also important to the Land O'Lakes IT organization. "SaaS is something I really like as a CIO. It means someone else can be responsible for the footprint—we remain the customer," noted Libenson. "Billtrust has a history of continually updating Invoice Gateway to stay ahead of evolving technology."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts