Billing has changed its traditional form that used paperwork to facilitate the process and has been improved such that it is possible for organizations to facilitate billing with their clients over the internet or using electronic means. Direct payment of bills by clients to organizations can be facilitated using the biller-direct approach. Bank aggregator form of billing involve client and organization facilitating the exchange through a common bank that supervises the transactions between the two parties.
Electronic billing comes as a replacement for traditional billing forms that involved organizations posting bills to their clients and the clients making payment by writing cheques and sending the cheques to the organizations in paper form. 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. The cost that was incurred using traditional billing was huge due to the charges for posting the paperwork between client and the organization but with electronic billing system no postage services and costs are necessary. 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.
Availability of this electronic billing system all through is another benefit it offers because clients do not face inconveniencies like getting banks closed or postage services unavailable at some time of the day. 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.
Choosing a service provider should be based on some important factors like international coverage of the service provider and whether they are in accordance with international standards to make sure you can pay bills to any organization regardless of their location or region. The prices that different electronic billing service providers charge for their services should be compared to ensure you choose the service provider that charges fairly. Access to clients information should be regulated and the service providers should make sure they employ measures to keep the client information safe from unauthorized access