A Guide to Electronic Billing
Businesses can receive payment from their clients electronically through sending bills to the clients and in turn the client making payment using the internet. 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.
Previously, billing involved banks sending bills to clients in paper form using post services and the client sending cheques back to the organizations in paper form but electronic came as a replacement of this system since no postage of papers is required. 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. Electronic billing is also cost-effective as opposed to the traditional billing system since there is no need to hire postage services which required additional costs for both clients and organizations. 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. Eliminating the need for paperwork also simplifies tracking of particular records since it requires just searching for them from the database using keywords like date of transaction.
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. Another major issue to put under consideration would be the charges required by electronic billing service providers for the services provided. Since the transactions take place over the internet, it is crucial that a service provider that a client chooses ensures that the personal information of the clients is well secured from unauthorized access to avoid loss to the clients.