What is an e-billing system?
Electronic billing or e-billing is an electronic system, in which the billing and payment mode is online. E-billing represents a digitised version of a paper bill. The company sends an e-bill to the customer’s account via web or email, which is linked to the company’s software system.
How to choose the correct e-billing software?
- Clarity on personal needs: The customer needs to be aware of the services they require and how to reach them. It can be the choice to be a part of the company’s system, or for invoice and tracking of the bills.
- Integrated mechanism: This procedure requires a complex and smooth integration of multiple types of resources, making it important to choose the right system.
Implications of e-billing system in our daily lives
Pros
- Efficient and accurate: It is a great time saver with no manual interference and an automated system, reducing the errors to a minimum.
- Enhanced customer experience: With the automation comes a smoother and easier payment procedure.
- Optimization of available resources: A paper bill needs a lot of resources-paper, printing, delivery and its management. An e-bill is better suited in cases where large volumes of bills need to be handled in one go.
- Reduction in overhead costs: The costs of paper, printing and delivery can be reduced in an e-billing system.
Cons
- Security: This is one of the major concerns regarding online services. The online payment system data can fall prey in the hands of unwanted elements, who can then misuse the customers’ data.
- Switching to online mode: There are still customers who, being uncomfortable with the online system, would prefer a printed paper bill instead.
- Spam: A couple of times, the important emails sent go to the spam folder of the receiver. This makes it pretty challenging to access the proper email at the right time.