For companies, cutting costs can often seem impossible, and often result in worse conditions or pay for workers, decreased moral, and more work in general for everyone. But, budget cuts must be made — and many financial advisers and accountants find themselves asking where.
Business owners set in their ways may never have considered one excellent way to seriously cut down on costs, while boosting productivity and efficiency at the same time — electronic billing as an alternative to printing and mailing services. Check out the many ways you can save by making this simple and quick switch:
Save on Paper and Packaging
Not only is going paperless good for the environment, but it is also great for saving money and expenses. If 20% of American households switched to using electronic rather than traditional paper billing, the annual savings would include 151 million pounds of paper. And the cost of all that paper, which usually falls on the company issuing the bills, is lifted as well.
If you both outsource your billing services, and switch to electronic billing, you will certainly save untold amounts of money in labor costs. Your employees will spend less time dealing with bills, and therefore more time on activities that could generate leads and actual profit. It’s simple really : E-billing allows for easier expense tracking. Therefore, it can save money.
By outsourcing your billing, you can help you speed up your receivables by one to three days, and improve cash flow. Saving your employees and customers time and effort, as well as having a reliable online, searchable database, can seriously save actual dollars. Having a modern, streamlined system will make you more appealing to your current customers, which is important. After all, their recommendation carries a lot of weight.
There is no reason not to switch to e-billing — indeed, at this point, it is what customers expect. Electronic bill payment is a now common feature of online banking, allowing a depositor to send money from his demand account to a creditor or vendor. Why shouldn’t that system be in place for other types of organizations? Make the switch to e-billing services today and start saving.