Analysis based on Number of Schedules:
Overall, only 35% of the customers use EPS system. The region where EPS is adopted by majority of its customers is Northeast region with 59% of the customers making the payments through EPS. The lowest region being Southwest where the EPS adoption rate is only 28%. We tried to analyze the EPS adoption rate based on the number of schedules in a particular industry in each region.
The main problem we observed was that the EPS adoption rate for the customers with higher number of schedules is very low. Since the number of payments pending are more for these customers, adopting EPS would make it easy and reduce costs.
Currently, 88.24% of the customers with more than 50 schedules does not follow EPS for their payments. The regions where the customers with number of schedules more than 50 are MidAtlantic, MidWest, SouthEast and SouthWest. In MidAtlantic region, we need to concentrate on Construction, Manufacturing and Mining industry groups as EPS adoption rate are close to none in these industry groups. In Midwest region is the most effected as the Agriculture Forest Fishing, Manufacturing, Retail and Services Industry groups have an EPS adoption rate of zero. The industry groups in SouthEast where the number of schedules is more than 50 with no EPS adoption are Finance Insurance Real Estate and Services. In Southwest, Manufacturing, Wholesale and Transportation Communication Utility Industries have no EPS adoption.
The next group of customers were the ones with 6 to 50 number of schedules. In this group, only 41.08% of the customers have used EPS for their payments. The worst EPS adoption rate for this group is in MidWest region. Only 29.59% of the customers in this region uses EPS system. The lowest EPS adoption is for the Manufacturing, Mining, Transportation Communication Utility and Wholesale with 19.05%, 12.5%, 30.95% and 18.18% respectively.
The next group of customers are the ones with 5 schedules. In this group,...