Electronic Billing
Using Electronic Billing Services to Reduce Overhead Costs
Outsource billing services have undergone a transformation from the days of operating as just a Print & Mail house. In order to compete in the marketplace, outsource billing companies have had to incorporate technology that not prints and mails your monthly billing documents but also provides electronic bill payment processing (EBPP) and helps streamline your billing process.
What may take hours or days for your back office to accomplish is resolved in minutes when your company outsources your print & mail your electronic billing services to a dedicated and capable outsource company.
What are Electronic Billing Services?
Electronic billing services are vital components for maintaining a quick turnaround in cash flow, allowing your company to reinvest and grow the business. Electronic billing services utilize a variety of cutting-edge technology that will allow you to collect payments online, by mail, and by phone. Additionally, your customers can access their account information and view current or archived billing documents.
How Does Electronic Bill Pay Work?
Electronic billing or online bill pay provides an all-in-one bill pay approach that allows your company to present a bill online or electronically via email or text message. Additionally, it provides an outlet for your customers to make an instant payment online or from their mobile phone device, and automatically reports payment information to your billing system in real time. How it works:
- Billing or statement data is sent to the electronic billing service via email or FTP
- The data is processed and converted into easy-to-read PDF statements or electronic data
- Your billing team reviews and accepts the billing documents or statements via an online portal such as BestBill’s WebView™
- Statements are then printed, mailed or emailed to the customer
- Customer receives mailed or electronic statement
- Customer can make a payment multiple ways by mailing a payment, paying online, or by calling an automated 1-800 number and making a payment over the phone
Who Uses Electronic Billing Services?
A variety of business-to-business (B2B) and business-to-customer (B2C) companies utilize outsourced electronic billing services to reduce costs, as well as enhance customer relation. Some of those industries include:
- Property Management Industry
- Health Industry
- Utility Industry
- Wholesale Distribution Industry
- Telecommunication Industry
- Financial Service Industry
- Service Industry
What To Look For In An Electronic Billing Services Partner
First, evaluate your electronic billing needs and then choose a company that will be innovative and efficient in helping you streamline back-office labor and supply costs. An ideal partner will have a history of proven and efficient integration with your with your existing or similar billing technology, unsurpassed quality control criteria, multiple layers of security and confindentiality policies, a data redundancy plan, as well as expertise in the electronic bill payment processing field.
A superior partnership includes working with a company that offers innovative technology and incorporates some of the latest trends in billing technology, such as inbound and outbound Interactive Voice Response (IVR), mobile phone payment technology, and offers a two-way online portal that allows your customer to make a variety of payments (one-time, recurring, scheduled, partial and etc.) on the front-end. On the back end, your billing department can access real-time payment and processing reports, customer information, archived billing documents and other relevant billing information.
Unmatched Experience and Excellence
With over 10 years of billing and statement processing expertise, state-of-the-art facilities, and online bill-pay technology, BestBill can transform your billing operation department and improve cash flow.