Website design By BotEap.comOn average, how long does it take for your business to collect payments from your customers? Are you currently expecting payment for services rendered more than a month or two ago? If so, consider implementing an electronic billing solution that allows you to bill your customers via email and accept payments via credit card, EFT (Electronic Funds Transfer), or ACH (Automated Clearing House) direct deposit.

Website design By BotEap.comThis method of billing your customers through an electronic medium, such as email, will save your business time and money and provide a return on your investment. My company integrates electronic billing systems for our clients and I can say from experience that it allows you to collect payments in weeks instead of months. It’s also much easier for your customers to click a link in an email, fill out basic credit card information, and submit their payment online than it is to print an invoice, write a check, and mail it to them. Your customers will be more willing to process payments sooner if you provide them with a method that takes a minute to complete.

Website design By BotEap.comBy doing this, you also get another significant benefit: the next time you bill your customer, you’ll have their payment information stored on file so you can easily process their credit card or request payment through your bank account (ACH). , without having to wait for them to send the payment. This will greatly minimize the number of outstanding invoices, while giving you more cash flow to run and operate your business today.

Website design By BotEap.comSome companies use PayPal to bill their customers. Since this is a very similar medium, it is not as professional. If you’re using PayPal to bill your customers, you may be showing that you can’t afford to implement an online billing solution; however, by employing a customized e-invoicing solution, you will demonstrate to your customers that you are successful and continually working to improve your business, a notion that is very important for customer retention.

Website design By BotEap.comIf you are currently using PayPal and I simply offended you, I apologize. I didn’t mean to say you’re not on the right track because you most definitely are. People who use PayPal are ahead of businesses that don’t accept any form of electronic payment. I’m just trying to open your eyes and let you know that you can implement a custom e-invoicing solution for your business for minimal cost and with less merchant fees than PayPal’s standard transaction costs.

Website design By BotEap.comWhen it’s time to find a solution that’s right for you, be sure to find an e-invoicing solution that’s flexible and gives you the ability to send and request payment for one-time product/service invoices as well as recurring ones. Also, try to find a solution that accepts both credit cards and processes ACH direct deposits because as your business grows, so will the need to use ACH. Also, ACH transaction fees are much cheaper than credit card transaction fees, so this will give you the ability to process ACH transactions whenever possible. Other than that, additional features and functionality will depend on the specific needs of your business, so find a solution that suits yours.

Website design By BotEap.comI hope you find this article to benefit your business. I am sure that if you implement an electronic invoicing system for your business, you will instantly reap the benefits and be able to streamline and manage your business more efficiently…as I have done with mine and my client’s.