Understanding Bill Presentment Solutions
Electronic Bill Presentment Solutions offer a complex range of useful features for your business that can help you save time and money while sending/receiving bills and statements. Processing a paper invoice typically costs twice as much as using a bill presentment solution, while taking longer to process.
‘Out of the box’ bill presentment solutions that provide a business with a web portal for customers to access their statements and make payments are available, but solutions typically require development teams to integrate with a payment API, and to provide for a front-end system that presents statements and then reconciles them with the accounting package used.
Bill Presentment Solution Features
Electronic Bill Presentment Solutions features include:
- Payment Options
- Ordered Billing
- Platform Integration
- PDF Invoices
Beyond credit card payments, Bill Presentment Solutions also facilitate ACH transactions. ACH transactions lower processing costs, and are convenient for businesses that offer recurring billing plans to their customers.
With ordered billing, a business can require customers to pay outstanding old invoices first (or in any other specific order), and can also facilitate partial payments.
An IVR payment system can lower costs for businesses that take over-the-phone payments, using the same data file to populate both systems. This means that an invoice paid on one system is logged on both systems.
Providing PDF versions of a customer’s invoice or bill leads to better record-keeping and a more convenient experience for your customers.
Electronic Bill Presentment Solutions are customizable by businesses and their customers. Multiple search fields allow you to define what data is searchable to receive invoices, and customers can define their search terms by name, customer ID, bill number, Unique Bill ID, address, etc.
Receipts are automatically sent out to billers and customers, and printed versions of receipts are available.
The Bottom Line
Electronic Bill Presentment Solutions offers your business a modern, streamlined service for any billing needs. For almost two decades Agile Payments has been helping businesses integrate their payment. Contact them today to discuss how bill presentment solutions can aid your business.