A Guide to Electronic Billing
Billing has changed its traditional form that used paperwork to facilitate the process and has been improved such that it is possible for organizations to facilitate billing with their clients over the internet or using electronic means. Biller-direct billing system is used by businesses and clients whereby the clients make direct payments to the organization without third-party involvement. Another form of electronic billing is bank-aggregator billing that involves a bank acting as the mediator between clients and organizations by receiving payments from clients on behalf of the organizations then sending the payments to the organization.
Electronic billing replaced the earlier billing system by facilitating the whole process without the need to post the invoices and cheques between the organization and their clients in physical form. Electronic billing does not require any paperwork but only an electronic billing service provider, computers and a connection between the two parties unlike traditional billing which was facilitated using paperwork.
Using electronic billing is time-saving due to the fact that there is no need to hire postage services to deliver bills and cheques to clients and organizations respectively and also the time used in creating these documents has been eliminated. Sending bills and payment through the internet is cheaper than when bills and payment documents were used for this process since there were the charges for delivery of these papers to the relevant recipients. Customer satisfaction has been improved by using electronic billing since some processes which were unpleasant to the customer like having to queue in banks to make payments and posting these documents has been eliminated and also the fact that location barriers have been eradicated by electronic billing.
A client can access the electronic billing system around the clock and this makes it better than when using traditional billing where a client could find the institutions like banks and post offices closed when they need their services. When a client or organization needs to confirm certain transactions, the process is faster and easier since the records are well ordered and can be searched automatically.
Businesses are nowadays doing transactions with clients from all over the world and this creates the need for clients to choose service providers who are certified to operate by the relevant authorities and with international coverage due to the fact that its clients may be doing business with other clients from different countries and regions and it would be possible for them to do so without location limits. The prices that different electronic billing service providers charge for their services should be compared to ensure you choose the service provider that charges fairly. Access to clients information should be regulated and the service providers should make sure they employ measures to keep the client information safe from unauthorized access