Electronic invoice presentment and payment ( EIPP) is an increasinlgy hot topic in the business world; especially when talking about accounts receivable management. In short, EIPP is the processing of submitting (or collecting) payment over the internet and more and more companies are adopting this technology. But why?
Electronic invoice presentment and payment makes collecting payment from customers much faster, much easier, and far less expensive than traditional paper-based processes. Benefits of EIPP include:
- Cost savings: According to Gartner Research, B2B organizations can save over $7.00 for every invoice when using EIPP compared to traditional processes. This can come from savings on materials such as envelopes, stamps, etc. as well as the time is takes to create, print, and mail all of those invoices.
- Faster invoice collection: Instant invoice delivery means you no longer need to wait 3-5 days for the invoice to reach the customer, which allows you to address disputes quickly and get paid faster with fewer delays throughout the entire process.
- Faster dispute resolution: Disputes can be resolved faster when you have a very clear paper trail documenting invoice creation and delivery.
- Happier customers: Customer satisfaction will get a boost when your customers can pay online. According to recent research, over 70% of SMB business customers prefer self-service payment options via secure online portals.
Ready to learn more? Join us for our upcoming webinar as we discuss our most frequently asked questions about how you can start getting paid faster and easier than every by combining the features within Anytime Collect A/R automation software with Solupay, a PCI-compliant payment provider.
This webinar will cover how you can:
– Manage invoice presentment
– Enable customer self-service
– Allow for online customer payments
– Much more
Date: Thu, Sep 24, 2015
Time: 4PM – 4:30PM EDT