Invoice management software has quickly become a necessity for modern businesses. There are many great options available in the market that complete the basic tasks that can help manage your invoicing process. While these solutions can play a role in improving your operations, the best e-invoicing solutions can not only manage your invoicing process but manage the whole invoice operation – automatically. Biller Genie’s cloud-based e-invoicing solution, is one such product that can optimize your businesses accounts receivable by getting you paid faster, saving you time, reducing costs, and improving your cash flow.
What is Invoice Management Software?
Automated invoicing is the process by which you configure your invoicing software to function automatically. Automated invoice processing is technology that offers time saving benefits to businesses of all sizes by taking care of your billing cycle, from invoice creation to payment reconciliation. With more traditional invoice processing software, invoices must be sent to the recipient and then the information is entered electronically (or manually) into accounting software, or in some cases ledgers.
With automated invoicing, the invoices are digitized and can be sent and received within seconds, and stored safely in a server or in the cloud. Invoice automation is a powerful tool that when used correctly, can streamline billing operations. It automates time consuming aspects of your business operations such as invoice management, which provides powerful benefits for your business.
Increase your Profitability with Biller Genie’s Invoice Management Software
Biller Genie’s innovative e-invoicing solution improves your businesses profitability and it’s cash flow. The Genie automates your accounts receivable from bill presentment to follow up, collection, and reconciliation – without changing your current process. In just a few minutes, The Genie seamlessly integrates with your accounting software, synchronizes your customer data, and with a quick configuration, takes care of your invoicing.
Biller Genie Benefits
Get Paid on Time
On average, with manual invoice management, there are several steps involved from the moment your customer provides payment, to the moment you actually receive payment. 90% of businesses worldwide still process invoices manually, and this often includes payment with paper checks. With manual invoicing, the customer has to receive an invoice and then submit payment. Take into account the time it takes for the customer to send payment, for you to receive said payment, and then process the payment. Statistically, this entire cycle can take, on average, about 6 days to complete.
By automating the invoice management process, Biller Genie’s Invoice Messenger will automatically send out communications when you choose, ensuring that your customers are always informed on time. This helps to reduce the chance of late payments. This payment system provides customers ease and convenience which in turn, results in Biller Genie subscribers getting paid up to 15 days faster.
Save Time & Money
As a business owner, one major limitation is often time. Between juggling different projects and tasks, invoice automation has proven to be an effective tool for business owners who need more time. With modern technology, up to 50% of invoicing tasks can be automated. This is possible with state of the art automation technology. With Biller Genie, you can send out invoices, payment reminders, add late fees, and send out other communications at your preferred frequency. You don’t have to spend precious time sending out invoices and other messages, since Biller Genie will automatically complete these tasks for you.
Biller Genie’s automated invoice management software is less expensive when compared to more traditional invoicing processes. Manual invoicing can cost on average, anywhere from $16-$22, if you take into account mail and postage fees. With Biller Genie your customers can make payments electronically, reducing costs. Compared to other e-invoicing solutions, Biller Genie also provides a comprehensive pricing plan, tailored to your business’ needs, without heavily impacting your budget.
Another way Biller Genie reduces costs is by reducing the time spent on busywork such as sending out invoices and reconciling payments. Biller Genie reduces your administrative work by up to 10-20 hours per week, precious time which could be spent growing your business.
Biller Genie is a cloud-based platform that integrates all your accounting data and records transactions electronically, even reconciling transactions back to your accounting software. Normally, an accountant would have to make sure transactions are processed and closed correctly, with Biller Genie this process occurs immediately upon reconciliation. This feature removes human error and eliminates the possibility of duplicate entries, by processing the transaction in real time, and communicating with your accounting software.
With Biller Genie, you will be able to offer your customers an efficient and easy-to-use platform to pay their invoices. Our automated e-invoicing solution provides you with your own branded customer portal, where your customers can login and make payments at any time. Biller Genie provides subscribers an easy way to receive payment and a seamless payment experience. This is achieved by providing your customers a variety of payment options such as ACH, Apple Pay, and more.
Often you may have clients that may need more flexible payment options. Biller Genie allows you to offer payment plans to customers of your choosing and your customers can also securely store payment information and make payments directly from their invoice. This allows you to provide a memorable and superior customer experience while improving your cash flow.
Personalize Your Invoicing
It is important to make sure you are building rapport with your customers whenever you can. With Biller Genie, you can send out communications electronically or via paper mail, with your logo and branding. This ensures you are providing a familiar and professional payment experience. Often, you may have to escalate communications, which is where paper mail comes in. By having the ability to send communications via paper mail, you can make sure your brand is represented properly.
Get Started with Biller Genie
Overdue invoices negatively affect cash flow. 82% of businesses fail due to cash flow issues. Biller Genie is a cloud-based solution that automates accounts receivable from bill presentment, to follow up, collection, and reconciliation – without changing your current process. The Genie does all the heavy lifting for you with no new software to learn, it easily integrates with your accounting system, and you get to keep your existing payment processor. As a result, our average subscriber sees a reduction in outstanding balances by 40% and gets paid up to 15 days faster. We wish to take away the headaches involved in accounts receivable. Click here to learn more.