YOURACCOUNTS.COM(SM) DEBUTS WITH POTENTIAL TO OFFER INTERNET BILLING AND STATEMENT ACCESS TO MORE THAN 50% OF U.S. HOUSEHOLDS ANNOUNCES TWO Product Families for Electronic Billing and Electronic Statement Presentment; Major E-bill Customers Include Cellular One of San Francisco, Keyspan Energy, Potomac Electric Power Company and Time Warner
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Story Filed: Monday, September 27, 1999 8:04 AM EST
EL DORADO HILLS, Calif., Sep 27, 1999 /PRNewswire via COMTEX/ -- Output Technology Solutions, the leading provider of bill and statement processing solutions, today announced the formation of YourAccounts.Com, a new division focused exclusively on recurring customer interactions via the Internet, including electronic bill presentment and payment (EBPP) and statement presentment. YourAccounts.Com today also debuted with two new product families -- e.bill.anywhere(SM) -- for delivering electronic bill presentment and payment solutions for the financial services, communications, cable TV and utilities industries -- and Informa(SM) -- 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 (OTS), 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.
Product Availability 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.
About YourAccounts.Com 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 www.youraccounts.com.
SOURCE YourAccounts.Com (C) 1999 PR Newswire. All rights reserved. prnewswire.com
CONTACT: Tom Roberts, VP of Marketing, YourAccounts.Com, 916-939-4656,
or tom--roberts@youraccounts.com; or Eric Sutphin of Blanc & Otus, 415-912-2322, or esutphin@bando.com, for YourAccounts.Com
WEB PAGE:
youraccounts.com
GEOGRAPHY: California
INDUSTRY CODE: CPR MLM FIN SUBJECT CODE: PDT
Copyright ¸ 1999, PR Newswire, all rights reserved.
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