The benefits of paperless billing are often viewed from the perspective of the business itself – how it will reduce costs, eliminate invoicing and payment issues that waste time and resources, and so on. The environmental benefits of paperless invoicing are also talked about widely, with companies more cognizant of their carbon footprint than they were in the past.
A less commonly discussed benefit of paperless invoicing is how it has the potential to significantly improve your customer service. This is just as important (if not more so) than the direct benefits to the business itself and the environmental advantages: after all, unhappy customers don’t remain customers for very long. If your organization is considering making the transition to paperless invoicing, here are some the customer service benefits that can help make the decision that much easier.
Format that is suited to the customer’s preferences
The traditional print and mail method of invoicing is quickly becoming an outdated practice. As more businesses implement paperless document management systems, there is significant competitive pressure to provide your customers with a more robust range of options for invoice delivery. Simply put, paper invoices are no longer attractive.
Customers expect to be able to receive and access invoices in alternative ways. This includes accessing invoices via email and other online methods. Failing to include such options in an environment that increasingly demands it puts you at a competitive disadvantage.
Electronic invoices arrive faster
Paperless invoices not only provide clients the options they would like for access, but they also allow them to be received more quickly. This means that your customers are provided a more than adequate amount of time between the date of invoice reception and the time payment is due. Furthermore, invoices provided electronically are replaced more easily and quickly in the event that they are misplaced by the client. This not only provides clients with better access to invoices, it also helps to reduce payment cycle time.
Complete document access
Paperless invoice management gives your employees the ability to consolidate all client documentation and history, and access it within a single system. This significantly reduces the time it takes to retrieve records and documents, but it also helps to ensure accuracy. This is advantageous to both your business and to clients, as easier access to information eliminates time-intensive payment disputes, invoice query and request servicing, and other common issues associated with traditional invoicing methods.
Free up valuable staff time
As part of an integrated paperless document management system, paperless billing allows your staff to spend less time searching for the documents or information they need to complete their duties. The result is that they are better able to spend time working with the customers themselves, thus improving your customer service and strengthening existing relationships between you and your clients.
Paperless billing does more than just reduce costs to your business or improve its green credentials. It can also significantly improve your customer service offerings. When you provide an easy, intuitive method for payment that is mutually beneficial for both your company and your customers, you improve customer retention – and your bottom line.
