The the process of businesses sending bills to clients and receiving payments from them can be processed electronically using electronic billing. Organizations can receive payments from clients directly to their accounts after issuing bills to the clients using biller-direct form that makes this possible. 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.
Paperwork consumed a lot of time in creating the documents and also time required to post the papers to clients and posting the cheques back to the organization was too much but with electronic billing this has been done away with. Sending bills and payment through the internet is cheaper than when bills and payment documents were used for this process since there were the charges for delivery of these papers to the relevant recipients. 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.
When using traditional billing system, it was possible for clients to late on payments due to the fact that the banks and postage services could be closed at the time they needed their services but this is totally eliminated by electronic billing which is available twenty-four hours a day and every day of the calendar. When a client or organization needs to confirm certain transactions, the process is faster and easier since the records are well ordered and can be searched automatically.
Businesses are nowadays doing transactions with clients from all over the world and this creates the need for clients to choose service providers who are certified to operate by the relevant authorities and with international coverage due to the fact that its clients may be doing business with other clients from different countries and regions and it would be possible for them to do so without location limits. Doing market research on the different charges for services from the different service providers can help in going for the best and fairest service provider. 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