Electronic billing is one of the easiest ways for businesses to reduce costs without sacrificing high-quality customer service for their clients. Don’t believe it? Here are just a few of the biggest advantages of using electronic invoice processing and electronic billing services:
- Money-savings is probably the biggest reason why businesses turn to an outsourced electronic billing service, and it’s easy to see why: they can save an average of 11.5 cents per billing statement once they stop sending out bills on paper. These 11.5 cents really do add up when you consider how many bills the average organization sends out each week.
- Electronic billing also allows businesses to interact with their customers more directly and faster. Because the bill is sent immediately to the customer, disputes over charges or products rendered can be discussed right away.
- Many customers also appreciate the option of electronic billing because it allows them to have greater control over their payments and methods of paying. Customers also tend to feel like their personal information is more secure when they have control over this process.
- Faster billing results in faster payments, which is a huge boon for businesses. In fact, about 50% of customers will pay an electronic bill before the paper bill even arrives in the mail, even if that electronic bill isn’t due right away. The reduction of late fees is a great benefit for customers, and the quick collection of payments is beneficial for businesses.
- Last but not least, it’s important to understand the effect that paper usage has on the environment! Electronic billing services are much more eco-friendly than traditional paper billing. Even if you can’t see the positive effects of it right now, making this investment for the environment is one that businesses should be proud of!
So now it’s time for your business to decide, is e-billing the right choice for your customers?