Online Billing and Invoicing
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 comes as a replacement for traditional billing forms that involved organizations posting bills to their clients and the clients making payment by writing cheques and sending the cheques to the organizations in paper 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.
Paperwork consumed a lot of time in creating the documents and also time required to post the papers to clients and posting the cheques back to the organization was too much but with electronic billing this has been done away with. The cost that was incurred using traditional billing was huge due to the charges for posting the paperwork between client and the organization but with electronic billing system no postage services and costs are necessary. The customers enjoy a comfortable and easier process when using electronic billing system because of the convenience of not having to go to banks and post offices to make the payments but rather they can do all this from the comfort of their homes or workplaces.
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. Records about the transactions that both parties have been involved in are well kept and easily accessible as opposed to records in traditional billing which could be lost or hard to find.
Service providers that have their services available and legally acceptable all around the world would be better to consider because you are sure that payments to any organization are possible. Doing market research on the different charges for services from the different service providers can help in going for the best and fairest service provider. The security of client information should also be considered and those that guarantee the safety and security of this information should be chosen.