Every business organization will make some vital decisions for some critical areas of business. Depending on the kind of business you run, you could come up with your own list of KRAs and KPAs and other mission-critical applications and figure out a way in which you will make informed and smart investment and business decisions. Some of such vital areas are:
· customer management systems
· financial and billing systems
· Internet connectivity
· manufacturing and production systems and
· recruitment of various personnel
Now, these areas could certainly get tweaked as per your requirements but one area which will always remain critical to every business organization is the financial and billing systems. Every business owner would like to spend as much as possible on top- quality billing systems and software because mistakes here can affect the bottomline of the company.
One option that has emerged rather strongly in the world of accounting is the online billing system. Plenty of leading names have come up with reliable offerings as far as billing systems are concerned.
How does online billing system work?
Every business owner needs to ensure that his bills go out in time to all customers without fail. Certain customers might be on a weekly billing cycle and yet others on a monthly billing cycle. So either he has an army of accounting personnel who have surrounded themselves with ledgers, reminders and other books or he trusts online billing systems. An online billing system will mean that the business owner trusts a web based application that will take care of his billing cycles.
How does it work?
Normally, such online billing works by integrating pertinent details of customers. These details are name, address, email ids, cell phone contact or other telephone contact numbers and billing address if it is different from his contact address. All these details will ensure that the bill reaches the right person at the right address! And the company can also send an email reminder to the customer along with the soft copy of the bill.
On the other side of the record, so to speak, are the financial and billing details. Depending on the kind of billing services that are required, a firm will have to generate different bills such as:
· tax invoices
· telephone bills
· credit card statements
· internet connectivity services
· export invoices and so on
Each of these bills will integrate specific details against a customer’s usage patterns for the preceding month. For instance, to generate a cell phone bill for a particular customer, the service provider will have to take into account aspects such as:
· Local calls
· International calls
· Text messages that have been sent
· Roaming calls if any
· Taxes that are applicable
· Other special services that the customer may have requested such as detailed billing and GPS activation
There is no doubt whatsoever of the fact that generating a detailed and accurate bill for each customer is a task that requires a lot of “groundwork” and collection of data. Such data collection can be done easily with the use of an online billing system.