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. Biller-direct billing system is used by businesses and clients whereby the clients make direct payments to the organization without third-party involvement. 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. Paperwork which was the norm with traditional billing has been completely eliminated by using electronic billing which instead uses computers connected to the internet and institutions offering these billing services for the facilitation of billing.
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. Electronic billing is also cost-effective as opposed to the traditional billing system since there is no need to hire postage services which required additional costs for both clients and organizations. Electronic billing can be done from the comfort of a client’s current location and no need to go around making payments to banks then posting cheques to the banks and this makes it comfortable, convenient and satisfying for the client.
A client can access the electronic billing system around the clock and this makes it better than when using traditional billing where a client could find the institutions like banks and post offices closed when they need their services. 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.
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. 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