Five Benefits of Online Bill Pay

It’s surprising to hear how many businesses today are still manually generating their customer invoices and using outdated billing software.

Many of these busy organizations simply don’t realize that there are so many more efficient ways to create invoices and keep track of their latest financial information.

In today’s competitive market, it’s crucial for businesses to team up with a tech-focused payment solutions provider that can offer online billing solutions that deliver an enhanced customer experience, a reduction in operational costs and quicker payments.

Here are five benefits:

  1. Automation capabilities. With online bill pay, there is never a need to second-guess totals. Businesses can reduce their overhead by saving valuable staff time – eliminating the need for manual calculation and entry. There’s also a significant reduction in the chance of potential errors.
  2. Better mobility. Billing customers online gives businesses unparalleled convenience and accessibility anytime and from anywhere, regardless of business hours. In addition, companies can email an invoice the moment a job or service is complete, as well as access valuable reports in real-time, even when traveling.
  3. Being green. Most companies that do not bill clients online end up printing numerous copies of each invoice for their files, as well as sending their customers a separate copy in the snail mail. Billing clients online securely stores the information from each invoice online, so there is never a need to print a paper copy. You also save money on paper, envelopes and stamps.
  4. Automatic reminders. Online billing gives companies the ability to email clients reminder notices prior to an invoice being due. These “friendly” reminders can improve chances of being paid on time, accelerating overall funding.
  5. Integrated financial reports, in real-time. Each time a payable or receivable is entered in a company’s system, a corresponding financial report is automatically updated. This ensures all reports are current and as accurate as possible, and always available whenever necessary.

Don’t know where to start? At BillingTree, we can help steer you in the right direction when it comes to your company’s online billing needs. We are a leading tech-focused, payment solutions provider that partners with leaders in online billing to offer innovative, card-not-present payment solutions to make processing payments easier.