Businesses today have enough to worry about in terms of staffing, customer care, and turning a profit. Billing services, however, shouldn’t have to be included in those concerns. Because tasks such as statement printing and statement processing are so routine for many companies, they shouldn’t need to micromanage these processes. Thanks to modern innovations — including electronic invoicing and online billing services, for instance — businesses can now enjoy the benefits of a speedy accounts receivable department without having to dramatically increase staffing or spending.
How is this accomplished? Businesses can see these improved billing capabilities through outsourcing. Outsourcing billing is especially beneficial because it can cut down on payment processing time and allow employees to handle other core business tasks instead. Want to know more about what outsourced billing could do for your company? Here are three distinct advantages of these services:
1. More eco-friendliness: Businesses that do their own statement printing and processing have to worry about a variety of costs as they run their companies. Most notable among them are the high costs of paper, toner, ink, and other printing supplies, not to mention the maintenance on machinery. By switching to an outsourcing company, you can not only save money on printing costs, but you may be able to give more customers the chance to switch to electronic billing. If just 20% of Americans switched to electronic billing, the whole nation could save around 151 million pounds of paper, and the average company can save about 11.5 cents per billing statement by going green and electronic.
2. Less micromanaging: Having to manage an entire billing department can be a hassle for most business owners. Additionally, high staff turnover can make training for billing tasks more difficult, slowing down productivity, too. With an outsourcer, you won’t have to worry about tasks like hiring, training, and managing day-to-day operations. Instead, your workers are free to handle other business responsibilities, and you only have to worry about paying one bill each month rather than that of an entire billing department.
3. Better customer service: When you outsource your billing services, you can see your accounts receivable speed up by as many as one to three whole days. That means that your customers don’t have to wait around to see their checks and credit card payments clear their accounts. If you don’t already have the capabilities for electronic billing, an outsourcer can provide this service for you and set you up with white label online billing, so your client base won’t even know they’re not using your system.
Have more questions about why companies outsource or how you can take advantage of these services? Get in touch with us today.