Billing is an unavoidable and time-consuming task for many business owners. When you outsource billing services, you can achieve reduced operating expenses, better cash flow management, higher collection rates and peace of mind. Additionally, as customers increasingly use online banking, switching to online billing helps you meet their needs. While UpCounsel has been able to eliminate the hassles of bill collection for lawyers, here are 5 other ways to outsource billing services.
Billtrust is a comprehensive billing service provider that offers business-to-business and business-to-consumer billing. Its bill delivery and payment services allow customers to pay online through their computers or smart phones, as well as through the mail. Billtrust sets up and hosts an online billing site that allows your customers to pay by ACH or credit card. Billtrust also guarantees that your paper bills will be sent out within one business day, and it allows you to track your bills from processing to delivery. There’s also a fax billing service for business-to-business billing. Billtrust’s e-Adoption Program helps your customers convert to electronic delivery methods such as email, fax, or online. You can go online to request a demonstration, or have a live chat with a customer service representative. The cost of these services varies according to the volume and method of your billing, so contact Billtrust to obtain a price quote.
API Outsourcing is a financial and accounting outsource provider headquartered in St. Paul, Minnesota. It offers a wide range of financial services, including billing, accounts payables management, online payment, and printing of MICR checks. For paperless billing, API can create a website or email your customers a PDF image of a bill, and customers can pay online through credit card, p-Card, debit card or ACH. API’s printed bill service allows you to insert customized marketing messages into the bill and send mail at the lowest postage rates. API also scans a PDF image and archives all the printed billing documents for easy retrieval. For accounts payable, API offers services that help streamline invoices and speeds up the payment approval process. In 2010, the Black Book of Outsourcing recognized API as the Top Finance & Accounting Outsourcing Service Provider.
BestBill is a billing service for the medical and property management industries. Similar to other services, it offers printed and electronic bill presentment and payment services. Customers can make payments by mailing a payment, paying online, texting, or calling an automated 1-800 number. BestBill’s collections service features an online negotiation tool that allows customers to resolve their outstanding debts and choose a pre-determined payment option. A pre-registration service creates online forms that allow your customers to pre-register, submit personal information, or pre-pay for an upcoming medical procedure. Visit BestBill’s website to request a demonstration or inquire about pricing.
OSG is a billing and marketing service provider that offers print and electronic billing services. Its marketing services department can help you create a marketing plan. The OSG Dynamic Messaging tool allows you to customize the message that appears on the front of your transactional documents. OSG also has mail processing technology that tracks mail, minimizes postage fees, and integrates address updates from the USPS. Contact OSG for specific pricing information.
Anybill is an accounts payable service provider headquartered in Washington, D.C. Anybill automates your accounts payable by digitizing invoices and processing your payments, reducing up to 70% of your AP processing expenses. First, Anybill collects invoices from you and your vendors, and then enters them into their invoice management system. Once you approve these invoices, you can pay using a variety of methods, such as through an ACH, printed checks or directly through your bank account. Anybill also is SSAE 16 SOC 2 compliant and can manage your tax payments. By digitizing and managing your records, Anybill creates a simpler and more accurate trail for tax audits. For more information, you can visit their website to either schedule a demonstration or contact a sales representative.