| Electronic bill presentment is just one in a long line of technological advances that have revolutionized the way companies of all kinds do business. What used to be a long,tedious process involving multiple employees spending hours printing and folding bills;attaching address labels;and mailing paper bills is now a simple matter of an automated email. By using the customer records stored electronically,a billing service can instantly prepare and send an electronic bill to every customer on a company’s books. How It Works Since most customers have used online payment methods already,they are familiar with the process of sending bank or credit card information electronically. Electronic bill presentment uses this technology to replace the old paper system,saving both time and money. A simple email in the customer’s inbox contains either the bill itself or a link to a secure company website where the bill can be viewed. The customer selects a payment option,and within minutes the company receives the payment. How It Saves Money Paper,envelopes,printer ink,and postage stamps all cost money. Electronic bills require none of them,freeing up those funds for other purposes. By outsourcing presentment to an electronic billing service,a company can even get back the time that its employees used to spend preparing bills every month. The time saved by switching to an electronic system also gets payments in more quickly than a mail-based system. Advantages For Customers Business owners aren’t the only ones who benefit. Customers who can keep their billing process on their computer along with their budget appreciate the added convenience of online bills. Their financial information is more secure,as it is transmitted directly to the company without passing through the postal system. They also save on postage and checks by simply making an easy online payment. Electronic bill presentment is sure to quickly become the standard method for businesses to receive payment from customers. The savings are great,and security and convenience just add to the benefits. Invoice Processing Service:What are the Benefits? Companies find it easier to use the state of art technology of a professional invoice processing service that to invest in an expensive in house billing system that may not perform as well as the billing service. Plus employing an invoice processing service can free up staff who can be better put to use on core projects and other more productive activities. It can also free up office space and office equipment that was dedicated to invoicing and billing. An invoice processing service can also serve as a buffer between the company and the customer. Many invoicing and billing issues can be easily handled by the service,again saving time and money,The benefits of an invoice processing service can be obtained with little or no upfront costs. Invoice Processing Service:Creating Marketing Opportunities Sending invoices to customers is part of just about every business. This can be an intelligent,inexpensive and powerful opportunity to market your goods and your services to existing customers,who are usually your best customers. When the invoicing service prints the invoices for you,they can include images,such as your products and your logos,and your advertising messages right into the documents that have to go out to your customers anyway. Invoice Processing Service:Integrating the Service into Your Own System When outsourcing invoicing and billing,one of the greatest fears businesses have is losing the control of the process. As a result,the better invoicing services have gone to extremes to integrate the billing software management system into the customers system. Thus allowing the customer full access to viewing the exact invoices the customer sees,tracking exactly what the customer has received and when,reports on the receivables,amounts collected and just about any other type and form of data related to operating the business. In other words,you can take a complete snapshot of everything going on from your own computer anytime you want. Among the broad range of business financial services provided by the financial industry,billing services are some of the most popular,labor saving and accessible services to individuals and small businesses. Business financial services can even be beneficial to businesses as small and quaint as a family organic farm in central Ohio. Whether a business or organization is private or public,large or small,it can reap benefits from one of the most universal of business financial services,billing services.
Any business or organization can benefit from the accurate,efficient,fast and easy transfer and tracking of funds to a business from a customer. Most employees have become a big fan of the prime example of billing services –direct deposit of employees’paycheck into his or her personal bank account by the employer. Imagine customers paying their bills with such ease,automation and accuracy. Though billing services were not always so widespread or readily accessible,they have been part of the medical industry for many years. Medical billing services and coding have long been part of the system in order to follow up on medical insurance claims and help provide for quick and efficient payment. Other area employees have become fun of is using local car insurance companies to keep overhead down. Small organic farms supporting Community Based Agriculture even find benefits when they have a trusted team that takes care of their billing.Located south of Mt. Gilead,Ohio,a five-acre farm named “2Silos”has a core group of private subscribers,a farmer’s market,and retail stores. 2Silos sells a variety of organic products including eggs,meat,poultry,vegetables and more. Businesses like 2Silos can benefit from business financial services and,in particular,from billing services. By handing off the paperwork to billing services,the farm is free to focus on the job they do best –growing and selling food. 2Silos motto is “We grow it. You buy it. Tastes good.” There’s no time to mess with paperwork while growing tasty food. Subscribers and other customers of 2Silos can communicate,stay informed,and schedule pick-ups and deliveries through the 2Silo website,2silos.com. 2Silos must collect subscription fees,bill for purchases,and bill retailers. Billing services saves organizations like 2Silos and their loyal customers time and expense by employing billing services for the payment and collection of subscription and bills. | |
