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Automated billing generates and sends electronic copies of invoices to customers, saving time and money. The software creates customer profiles and applies appropriate rates to each order, with the ability to print invoices or send them via email. Payments can also be received and applied automatically. This system is useful for recurring payments and frees up staff for other tasks, making businesses more productive and competitive.
Automated billing is an action in which billing for goods and services is done without the need to prepare the invoice by hand. Many billing systems of this type provide the ability to generate and send electronic copies of invoices to customers. The use of this type of billing software allows you to manage the billing process more efficiently, saving the company time and money.
There are several features common to automated billing software. In most cases, the software is designed to allow the creation of customer profiles that contain all the data necessary to accurately prepare the invoice. This data will include the customer’s name, billing address, billing contact, and an email address if the invoice is to be submitted electronically. In most cases, the automated billing program will collect data from other sources that has to do with customer usage, or will allow manual entry of orders after they have been completed. Processes within the billing system apply the appropriate rates to each order and create an invoice.
Depending on how the automated billing system is set up, the invoice may be printed, along with a companion envelope, immediately after invoice generation. However, it is possible to configure the software so that invoices are automatically printed at a specific time of day. There are even some examples of software that will prompt the machinery to fold the bill, insert it into a pre-addressed envelope, and seal the envelope. When email is used as the means of delivery, the system can expedite delivery immediately after the invoice is generated, or manage the email process at a specific time of day, an approach that allows business owners to survey invoices. before sending them.
Electronic invoicing systems of this type sometimes include the ability to receive and apply payments to outstanding invoices. For example, email invoices may contain an embedded link that allows the customer to process the payment immediately upon receipt and review of the invoice. Instead of requiring a person to receive the payment and manually enter it into the Accounts Receivable database, the software recognizes the payment, applies it to the appropriate invoice number, and deducts that amount from the customer’s account balance.
Automated billing works great in situations where a customer has a standing order, or there is a recurring payment that needs to be requested on a weekly or monthly basis. With this application, the system can be configured to automatically generate permanent or recurring invoices to the appropriate customers, thus eliminating the need for one or more employees to spend hours on this repetitive task. The end result is that staff can be used for different functions, making the workday more productive and therefore profitable.
The use of automated billing is common today with businesses of all sizes. Business types ranging from telecommunications to online retail stores benefit from using this type of software. By saving the company time and resources, companies can keep expenses lower and thus remain more competitive.
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