Laser image Outsource billing for business Statement printing

What Online Billing Services Can Do That Paper Statement Can’t

Print and mail services

Does your company regularly deal with statement printing? If you have an entire department devoted to statement processing, or if you’ve already outsourced billing somewhere else, you probably have an idea of the costs that your business incurs. However, there is another option when it comes to billing that can save your company time and money and deliver other benefits, as well: using online billing services and electronic invoicing for your customers’ statements.

Online billing services, especially those handled by an outsourcing company, can provide your business with plenty of advantages. Here are some of the advantages that other companies have found with electronic invoices and billing:

    1. Convenience: Online billing is becoming increasingly popular because all it takes is the click of a button. Customers are able to access their invoices and pay their bills 24/7, so there’s no worry about late bills every month.

    2. Eco-Friendliness: By eliminating or reducing the amount of paper statements you send out, you’re saving potentially hundreds of sheets of paper each year per customer. Think about the customers who throw that paper in the trash after paying a bill — that’s tons of paper wasted every month. Additionally, not having to mail those statements out also helps the environment by reducing the amount of mail that needs pick-up and delivery on the road or by air.

    3. Cost-Efficient: Because online billing doesn’t require the costs of paper or postage, you’ll save money by having to operate an online system for those who opt-in. This way, only the customers who want a paper statement will get one, so you’re not spending money sending paper bills to customers who like paying online. On average, organizations with electronic billing can save up to 11.5 cents per statement when customers switch to online billing. While that might not sound like much, it adds up over time!

    4. Flexible: Online billing can be done in just about any industry. Even medical billing and coding, which takes specialized knowledge in the field of medicine, can be done by a qualified outsourcing company. Some municipalities even rely on outsourced utility billing services to keep their local customers happy. Having another company take care of your billing process can make it run more smoothly and give you a hands-off approach to managing your accounts receivable.

There are plenty of companies that offer online billing services, so be sure to shop around for the right one. These outsourcing companies should comply with security standards for online transactions. Have more questions? Leave a comment below, and tell us what you like about online billing.

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