Electronic Billing Services
Electronic billing services are used to automate the billing and payment process. It benefits both the business and the customer greatly. Normally companies have staff create an invoice, mail it out, and then wait for the customer to make the payment. The customer has to receive the bill in the mail, write a check, mail that off and hope it gets to the business before the due date to avoid a late fee. Once the business receives the payment, the accounting staff then has to record it and make the deposit. An electronic billing service makes it easier for both companies and customers to make and receive payments and can be used by any size business from a small doctor's office to a large retail store.
There are two types of electronic billing services a business can use: an in-house software system or a separate business that does the billing for you. If a business has in-house software, they will need a computing team to program it and keep it running efficiently and train their employees to use it. This is normally the best way for a larger business to automate their billing service.
A smaller business, like a doctor's office, might find it easier to pay a billing service to collect their fees. The process is the same, but rather than the business being responsible for the software, the billing service company is. They bill your customers electronically each month and rather than receive separate payments from each customer, you will receive one large payment from the billing service company. This also saves the business from having to training their employees to use the billing software and avoids taking them away from other duties to perform the billing.
Customers find electronic billing much easier for them. Each customer logs onto the Internet to access their account with a username and password. They can choose to receive a paper bill or one through their email. Once they receive the bill, they can have the payment taken directly from their checking account.
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