Let’s face it, no one looks forward to receiving bills, but your customers do expect them. These essential communications provide your business with a captive audience – and many businesses aren’t taking full advantage of the value these documents provide. Taking into consideration what your customers want in regards to bills and other transactional communications could result not only happier customers but also increased business.
Electronic Invoice Presentment and Payment (EIPP) is a process that improves B2B invoicing, payments, and collections capabilities - from enhanced print and mail functionality to a comprehensive print, electronic and web portal suite of capabilities. An EIPP solution/strategy provides a bi‐directional bridge between a supplier’s Accounts Receivable Systems and their customers’ Account Payable Processes – giving both the information and data necessary to accurately process and manage all the elements involved in revenue and expense reconciliation.
While there are many reasons to consider an e-invoicing solution, we see four main reasons why an EIPP (Electronic Invoice Presentment and Payment) solution should be one of your top priorities in 2013. The immediate and long term benefits that come from the implementation of an e-invoicing solution are proven and very hard to ignore.
It is no surprise that technology has transformed the invoicing and billing transaction process between you and your customers over the past decade. Many large corporations have acquired smaller businesses over the years and as a result a system is put in place to communicate between the newly acquired company, the parent company, and the customers. These systems are at times rushed and the complexity of the system limits the customers’ ability to perform any type of self service.