Automated billing is a resource that will cut down on needless waste and allow a security dealer to improve customer interactions.
Some security dealers are spending time and money on performing routine business activities like mailing invoices and scanning checks. Modern technology has provided small businesses with the tools to automate time-consuming tasks. If you’re looking to remain competitive in the current market, you need to use all available tools to manage your business and satisfy customer needs. Automated billing is a resource that will save time and allow a security dealer to improve customer interactions.
Eliminate customer surprise
Automated billing creates a more consistent and accurate process. It’s especially handy for companies that provide ongoing service. Using security billing software, these companies can create both a convenient invoice and user-friendly payment options. Just take a client’s payment information, and let the automation create and deliver a routinely scheduled electronic bill.
This allows customers to plan their finances accordingly. They can expect the same bill each time and can therefore manage their account to make payments predictably and on time. It gives your customers a sense of comfort and control, and your business benefits from a much more reliable and organized billing system.
A J.D. Power Consumer survey found people embrace billing technological tools for information and control reasons. For example, it’s always a best practice to provide customers with confirmation messages when accepting payment so as to give them peace of mind that the system is working properly.
An office that deals in piles of manually-generated paper invoices can find itself prone to mistakes. The more a document has to be handled, the more likely it is to be misplaced, copied incorrectly or damaged. Small human errors can lead to large billing errors.
The U.S. Small Business Administration posted an article encouraging small businesses to move their billing practices to automation. They highlighted the way software can increase efficiency and cut down on errors when businesses asks the proper questions at the implementation stage. Working with a hands-on billing software provider is a crucial step to eliminating future errors.
You should speak with the managers and employees at your company to find flaws and redundancies that keep popping up with your current system. Be aware of the problems you are looking to solve when you begin implementation.
Avoid late payments
Late payments can be a problem for security dealers and their clients. The U.S. Small Business Administration noted how in past years, enterprises had seen thousands of dollars delayed each month due to poor billing practices.
The consistency of automated billing helps both sides of the payment structure schedule their fund transfers. Billing software can provide warnings before late fees take effect. Automatic billing will also prevent employee mistakes from leading to late billing. Consumer advice blogs, such as Creditcard.com, are consistently encouraging their readers to move their personal payments to electronic and automatic billing. Auto-pay technology avoided problems such as forgetfulness and physical inability to ship payment on the proper date.
By relying on paper, you’re wasting more than just money. Greenbiz examined how a business can eliminate needless supply expenditures and promote environmental friendly practices by adopting electronic billing.
“By relying on paper, you’re wasting more than just money.”
Greenbiz argues that you could even work your paperless practices into promotional material and stand out from your competitors. This might prove especially effective if your business has a close relationship with the local community.
Keeps payment information safe
Alarm dealers should also make sure their payment processes are compliant with Payment Card Industry Data Security Standards guidelines such as regularly testing networks and implementing strong access control measures. This means you have the necessary technology to handle payments and provide the increased security expected from electronic billing.
Electronic billing has consistently proven itself to be less at risk for fraud than paper-based alternatives. The Association for Financial Professionals reported 77 percent of payment fraud was conducted using paper checks in 2014. This is more than double the amount recorded for credit card payments.
Having the information in electronic form can also make it physically safer for you and your customers. For example, you’ll no longer have to worry about invoices being damaged by external sources such as improper storage, floods or fires.
More time to meet customer needs elsewhere
Billing software should eliminate office busy work and save time on customer interactions. Fewer surprises, mistakes and irregularities in a billing routine means less time fielding customer questions and concerns about payments. With the time saved by automatic billing, a company can look towards meeting other pressing issues or future expansion plans.
The key is to find a billing software partner offering financial software for security dealers that can act as a billing agent. Make sure to purchase a platform that can use customer’s payment information to automate billing, provide data security and increase office efficiency. Payment processing no longer has to be a chore for your business.