Project Description

The older generation pays by paper check; millennials want to pay by mobile phone

Video length: 2 minutes

(Music up)

Speaker: Barry Hickman, Senior Director of Credit, Dal-Tile, Inc.

My name is Barry Hickman, I’m the Senior Director of Credit for Dal-Tile Corporation here in Dallas, Texas. We are the nation’s largest ceramic tile manufacturer and distributor.

Dal-Tile began to look at its customers, and especially the younger customers that are emerging and taking over family businesses. We call them the millennials.

Millennials want to pay differently. In our industry, the older generation still pays by paper check. The millennials are ushering in electronic payment. They ask the questions, Why are we still paying with paper checks? They want efficient electronic payment solutions.

To meet these changing payment needs, we began to look for solutions that allow us to capture electronic payments. And also, in order to find solutions with high-adoption rates, we looked for solutions that will allow us to embed that payment solution in an invoice presentment. And if you look across the market, those are the solutions that are most successful.

We picked E-bill Express — a solution that integrates nicely with our existing lockbox operations, with our Virtual Lockbox operation, and with our existing AR system for cash application.

We send an electronic invoice with a link in it, and our customers can click on that link and pay that invoice simultaneously. A lot of our customers will do that from the front seat of their truck with their handheld smart phone. But it also allows us to receive remittance information at the point that payments made.

E-bill Express is maintained by the bank, and any upgrades, any software modification changes, security changes, are all managed by the bank; the burden’s not on the business.

E-bill Express provides our younger customers with that electronic payment solution that they are demanding. It also provides a seamless solution to our back office cash application team by providing, in one file, all the things we need to automatically apply that payment.

(Closing music)