Software for Business | 15 Oct 2009 :
You have bills! Electronic billing speeds the process and cuts costs
One effect of the recession is that firms are now waiting an average of 76 days days to get paid, according to ISME, the organisation that represents Irelands small and medium enterprises.
Such delays put small businesses under severe strain, and frequently causes their demise. Under increasing pressure to send out invoices quickly and collect payments, increasing numbers of businesses are turning to electronic invoicing - not just to speed the process but also as a way of slashing postage costs.
Gregory Duffy, CEO of OnePosting, a provider of integrated online invoicing solutions, notes: "There is a real opportunity for businesses to significantly decrease their billing costs, often by 50%, by going online." He said available statistics speak for themselves: "Customers are moving online in substantial numbers, and this upward trend is expected to continue."
Duffy said OnePosting had developed "a multi-channel invoice distribution solution, all through a single interface." He describes it as "a simple yet robust system that facilitates the whole billing process."
Another advantage of the system is that users can alert customers by e-mail or SMS text to tell them there is activity on their account, such as a statement to view or an invoice to pay - hopefully speeding the billing process and improving cash flow.