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Pros and Cons of Electronic Billing For Business

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No matter which type of business you currently run, payments and billing will probably take up a vast amount of your time from week to week, but this really needn’t be the case. Lots of firms up and down the country are now realising that electronic billing systems can seriously make an impact on their overall productivity within only days of their installation. Still, as with anything else in this world, there are pros and cons to using such systems, and it simply wouldn’t be fair of me to write this article without discussing both points of view.

We all want to expand and make more money, that’s a given, but if we ploughed ahead and installed new systems of operation without first taking a detailed look at the benefits and issues equally, our end results would almost certainly be less desirable than expected. So with this in mind, take a moment out of your busy schedules to read through the rest of this post and I’ll try to highlight the pros and cons of electronic billing systems as impartially as possible.

The Pros Of Electronic Billing For Your Business

  • This form of system is much more environmentally friendly and will reduce paper costs considerably due to the lack of need for materials.

  • With electronic methods, neither you or the firm your billing should ever be in a position where invoices have been lost or forgotten about. So long as you both use a quality system, it will record all transactions and set alarms and reminders about payments.

  • It’s completely without hassle and much more secure than older paper methods. All your files can be encrypted with passwords to ensure that nobody can ever gain access to any payment information without your permission.

  • Opting to use an electronic system means you’ll never have to send employees to the post office at the end of their working day. This will obviously save on postage costs, which can be extortionate for those who send a lot of invoices or cheques.

The Cons Of Electronic Billing For Your Business

  • Though there are other options, most online billing is usually outsourced, meaning that fees are sometimes accumulated on each transaction, but this can be lower than 1% if you look hard enough.

  • Electronic billing is accepted as the most secure method out there, but with new and innovating malwares and spyware being created every single day, you could encounter issues if your entire network isn’t covered by a premium antivirus service.

  • If your computers or internet goes down for a period of time, you’ll have no access to your payment details and you may miss outgoing payments resulting in extra charges.

If you’ve read this far and you’re still considering making the move to electronic billing then I’d start researching the best solutions online now. The sheer amount of options can become somewhat overwhelming, so maybe you should read some reviews, speak to come contacts and see what they recommend.

I wish you endless success in all your future endeavours my friends!

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