If your company deals with any sort of billing for products, services, or utilities that customers pay for by the month, then you know how time consuming billing statement printing can be. Additionally, statement printing also uses a lot of paper, so there’s a huge negative environmental impact involved in any accounts receivable department. Looking for a change in your billing services? Moving to an electronic billing system can add plenty of benefits to your business, and it can reduce or even eliminate the need for printed billing statements.
What is electronic billing? This system uses online bill paying capabilities, so customers can transfer funds from their bank account directly to you. This cuts down on the amount of time waiting for checks to clear, too.
Want to know more about the benefits of online billing services? Read below for more.
1. Convenience. With electronic billing services, your customers won’t have to worry about losing their bills or having to pay for postage. Additionally, you won’t have to use valuable employee time to take payments over the phone, either. If you have outsourced your billing to another service, you can significantly reduce your personnel costs, too. In short, online billing is convenient for customers and employers alike.
2. Time. Customers can pay their bills with the click of a button, so they don’t have to worry about missing a payment. As a business owner, you won’t have to wait as long for payments from checks to clear, either, or worry about bounced checks. Customers can also choose automatic bill payments, if you opt to include this service.
3. Archives. Losing paperwork for previous payments can be a frustrating experience for customers balancing checkbooks and for employers when it comes time to do their taxes. With an online billing system, however, your records are stored digitally and organized and can be accessed through the web. In addition, that system is maintained by the company that handles your billing, so it’s not extra work for you to maintain it.
4. Environmentalism. While you can let customer opt to receive paper statements, you can also help them transition to a completely electronic system, with statement printing available through a web application that they can use on their home computers. This helps you and your customers reduce trash and the need to to recycle extra papers.
Have other questions about what electronic billing can do for your business? Be sure to contact a billing outsourcing company, and leave a comment below with any other questions. More like this blog.