Electronic Billing

Innovation Breeds Efficiency in Electronic Billing

All across the country electronic billing is skyrocketing in popularity due to its time and money saving capabilities. Yet another outgrowth of technological integration in the business world, this new method of billing is convenient not only for businesses which send the bills, but also for the customers who pay them.

Cutting Costs
For service providers, paper billing is one of the most expensive aspects of the business. The paper and ink alone cost a small fortune, not to mention the salary of the well-paid accountant who works long hours to complete the tediously detailed paperwork. Instead of daily printing out reams of paper and using massive amounts of ink, the electronic billing process requires a single expense: an internet connection. By generating electronic bills and sending them through the internet, businesses are able to significantly cut billing costs and spend their hard earned dollars on more important aspects of the industry.

Conserving Time
Regardless of the efficiency of your printing and copy equipment, there is no denying that paper billing takes time. In the time that it would take to print, sort, check, stuff, stamp, and mail a single paper bill, you could send several hundred electronic billing statements. The process is vastly simplified by this innovative technology, allowing workers to send bills electronically from the same computer on which they were generated.

Expediting Revenue
It stands to reason that the faster your business can send out bills, the quicker you can expect to see revenue coming in. The question is, how much quicker? According to the experts, billing electronically cuts the time frame of receiving payment from 60 days down to one week or less! By speeding up the process through which your company sends out bills, you will significantly decrease turnaround time and expedite the receipt of revenue.

Saving the World, One Tree at a Time
Did you know that a single ream of paper (500 sheets) consumes 6% of a tree? A paper billing office can easily consume multiple reams in a day. At this rate, your organization may weekly require the death of a tree. While your business may not be heartily focused on environmentalism, the truth is that electronic billing is just one more way of going green.