Do you own a small business? If you’ve needed to bill customers for your products or services before, you know that you need to have accurate statements and an easy way for customers to pay. For many small businesses, though, this is easier said than done. For business owners who are also the sole employees, billing can take time away from crucial day-to-day tasks, and for companies with few employees, this process could become cumbersome if not handled correctly.
However, there are options for companies that need billing services and don’t have the means for an in-house, dedicated billing department. Outsourced billing is catching on for everything from statement processing to providing customers or clients with an easy-to-use electronic billing system. Here are just a few of the advantages that these services can offer businesses:
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1. Easier statement printing and mailing: Many businesses still rely on sending paper statements to customers, either as a one-time bill or regularly each month. As a result, they need to be quick about getting bills printed and mailed to send to their clientele. An outsourcing service can help ensure that bills are printed and organized in such a way that makes them easy to understand; they will also mail them out in a timely manner, so they get paid on time.
2. Quicker statement processing: Once statements are mailed back to businesses, they need to make sure that they process payments quickly and accurately. It can be easy to want to delay this processing, especially when dealing with checks. However, this can also create angry customers who need the funds withdrawn from their accounts ASAP. Outsourcing companies can perform faster statement processing to keep everyone happy.
3. Access to electronic billing: Finally, many customers also enjoy paying their bills online, so they can do so at their convenience. Online billing services can help speed up accounts receivable for a business by as many as one to three days, which keeps customers happy. It also helps businesses save on paper, reducing costs by an average of 11.5 cents per statement that would have been mailed out.
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