In today’s fast-paced and increasingly digital world, businesses of all sizes are looking for ways to streamline their operations and reduce the time and effort spent on administrative tasks. One area that can often be a source of frustration and inefficiency is invoice management. Biller Genie invoice management software is an essential tool for modern businesses looking to streamline their invoicing processes. While many solutions can handle basic invoicing tasks, the most effective e-invoicing solutions, like Biller Genie software, can fully automate the invoice operation.
Biller Genie invoice management software is a cloud-based software that manages your invoicing process and optimizes your accounts receivable by getting merchants paid faster, saving time, reducing costs, and improving cash flow.
In this article, we evaluate what is Biller Genie and how Biller Genie software can help merchants in their day-to-day operations, as well as how Biller Genie and QuickBooks combined make for a better and more efficient tool. We’ll also explain what invoice management software is and why it is essential. From creating and sending invoices to tracking payments and managing disputes, the entire lifecycle of managing invoices can be a time-consuming and error-prone process, and how biller genie software can alleviate these pain points.
What is Biller Genie?
Biller Genie software is a cloud-based invoice management software that helps businesses streamline their invoicing and payment processes. With Biller Genie, companies can create and send professional invoices, track payment status, and manage disputes all in one place. The software is easy to use and can be accessed from any device with an internet connection, making it a convenient solution for businesses on the go.
How is the Biller Genie software helping businesses?
Biller Genie’s innovative invoice management software has the potential to enhance the profitability and cash flow of merchants by automating accounts receivable processes from bill presentment to follow-up, collection, and reconciliation.
Biller Genie software will not require any changes to existing processes, and Biller Genie and QuickBooks, among other accounting software, can be easily integrated in a matter of minutes. It also synchronizes your customer data and handles invoicing with a quick configuration.
There is a number of ways that Biller Genie software specifically helps businesses. First and foremost, it simplifies the invoicing process by allowing customers to create and send invoices directly from the platform. This eliminates the need to manually create invoices using a word processing or spreadsheet program, saving time and reducing the risk of errors.
In addition to creating invoices, the Biller Genie software also helps businesses track payment status and manage disputes. With real-time updates and notifications, companies can stay on top of their invoices and ensure that they are paid in a timely manner.
The software also includes dispute management tools, allowing businesses to quickly resolve any issues that may arise. Overall, Biller Genie’s invoice management software streamlines and optimizes your invoicing and payment processes, helping your business to be more efficient and profitable.
What is invoice management software, and why is it important?
Invoice management software is a tool that helps businesses streamline their invoicing and payment processes. This type of software typically includes features such as the ability to create and send invoices, track payment status, and manage disputes. Invoice management software is essential for businesses of all sizes, as it helps them save time and reduce the risk of errors.
In addition, some invoice management software can integrate with other business tools, such as accounting software, as Biller Genie and QuickBooks can seamlessly do. Customer relationship management (CRM) systems are other integration options for invoice management software to provide a more comprehensive view of a merchant’s business.
The manual invoicing process typically involves creating an invoice in MS Excel or using a pre-built template and then delivering the invoice to the customer either by mail or email. Here is a general outline of the manual invoicing process:
- Identify the goods or services sold so that they can be accurately included on the invoice.
- Create the invoice: This can be done in MS Excel or using a pre-built template. The invoice will have to include the name and contact information for both the seller and the buyer, a description of the goods or services being sold, the quantity and price of each item, when it was sold, and the total amount due. Additional details may be required, such as requisitions, purchase orders, and delivery orders.
- The invoice is sent to the customer via mail or email.
- Most invoices are paid on time. Once payment is received, the merchant records the payment in the accounting software used. If the reconciliation process is not automated, details must be entered carefully to account for cash and accrual-based accounting for reporting and tax purposes.
- A receipt is issued to the customer for the payment in a manner commensurate with the payment.
- If the invoice is not paid within the agreed-upon time frame, merchants need to follow up with the customer to request payment. The entire process of tracking and following up on unpaid invoices is broadly referred to as receivables management. Receivables are amounts of money that are owed to a business by its customers for goods or services that have been delivered but not yet paid for. Receivables are typically managed by accounting software, such as QuickBooks.
- Merchants regularly check on the status of unpaid invoices to ensure that payment is received in a timely manner.
- Follow up on late payments. If an invoice is not paid within the agreed-upon time frame, follow-ups are done with the customer to request payment through phone, email, mail, or in person. The follow-ups include sending payment reminders to customers who have not yet paid their invoices beyond specific time periods.
- Often, businesses must contend with offering incentives for early payments. Merchants consider offering incentives, such as discounts, to motivate them to pay sooner.
- If a customer is consistently late in paying their invoices, businesses usually need to use a collections agency to help recover the outstanding amount.
The entire process is cumbersome and time-consuming and requires a dedicated team member at the business, such as an accountant, who handles the receivables management process. Whether or not a merchant needs invoice management software depends on the size and complexity of their business, as well as their specific needs based on the types of customers any given company has. However, there are particular areas in which Biller Genie software can eliminate manual processes and improve efficiency.
What are the benefits of using Biller Genie software?
There are several benefits to using Biller Genie software for invoice management. Merchants can create and send invoices directly from the platform, eliminating the need to use a separate word processing or spreadsheet program. Furthermore, the Biller Genie software provides real-time updates and notifications, allowing businesses to stay on top of their invoices and ensure that they are paid promptly.
Also, Biller Genie invoice management software includes dispute management tools, allowing businesses to quickly and efficiently resolve any issues that may arise. Biller Genie software offers tremendous convenience and is easy to use. The software is cloud-based and can be accessed from any device with an internet connection, making it a convenient and easy-to-use solution for businesses on the go. Some of the key benefits include:
- You Get Paid promptly – By using Biller Genie software’s Invoice Messenger, you can speed up the payment process and get paid faster. On average, manually managing invoices can take about six days to complete, but automating the process can help reduce the chances of late payments. Invoice Messenger automatically sends out communications at your predetermined schedule, providing customers with ease and convenience, leading to faster payments for Biller Genie subscribers. In fact, subscribers have reported getting paid up to 15 days faster using this system.
- Cut Costs and Time Spent on Managing Invoicing Tasks – Biller Genie software is a time-saving and cost-effective solution for automating invoicing tasks. The advanced automation technology can handle up to 50% of invoicing tasks, such as sending out invoices and payment reminders, adding late fees, and sending out other communications at your desired frequency. This saves you valuable time as a business owner, allowing you to focus on other essential tasks. In addition, Biller Genie’s invoice management software is more affordable than manual invoicing methods, which can cost an average of $16-$22 due to mail and postage fees. Biller Genie also offers a customizable pricing plan that fits your business needs without straining your budget. Moreover, by streamlining the process of sending out invoices and reconciling payments, Biller Genie can save you 10-20 hours of administrative work per week, giving you more time to grow your business.
- Reduce Mistakes – with Biller Genie software, merchants have at their disposal a cloud-based platform that simplifies accounting tasks by integrating all your data and automatically reconciling transactions back to your accounting software. The process helps to reduce errors, as the platform processes transactions in real time and communicates with your accounting software to ensure that transactions are closed correctly. As a result, you can avoid common issues such as duplicate entries and human errors, as the platform eliminates the need for manual reconciliation processes.
- The Consumer experience – Biller Genie software’s automated e-invoicing solution improves customer satisfaction by offering an easy-to-use platform for paying invoices. The solution includes a branded customer portal where customers can log in and make payments at any time, using various payment options such as ACH and Apple Pay. Additionally, Biller Genie allows you to offer flexible payment plans to select customers and enables customers to securely store payment information and make payments directly from their invoices. These features not only enhance the customer experience but also improve your cash flow by providing an efficient and convenient way for customers to make payments.
- Give invoices a more personal touch – Biller Genie software allows you to personalize your invoicing process by sending out communications that include your logo and branding, either electronically or via paper mail. This helps to build rapport with your customers and provides a familiar and professional payment experience. Additionally, the ability to send communications via paper mail can be helpful in escalating communications and ensuring that your brand is appropriately represented.
What kind of third-party integration is available with Biller Genie?
Biller Genie and QuickBooks can be easily integrated. Biller Genie software is designed to integrate with various third-party tools and platforms, including popular accounting software such as QuickBooks. This allows businesses to seamlessly integrate their invoice management processes with their broader financial management systems, improving efficiency and accuracy.
Overall, Biller Genie software is a powerful invoice management software that helps businesses streamline their invoicing and payment processes. With features like the ability to create and send invoices, track payment status, and manage disputes, Biller Genie software offers a convenient and efficient solution for managing invoices, and the software is a valuable tool for merchants of all sizes. Additionally, Biller Genie software is cloud-based and can be accessed from any device with an internet connection, making it a flexible and easy-to-use solution for businesses on the go.
The convenient cloud-based platform offers integration with many popular accounting softwares. Biller Genie and QuickBooks can also be fully integrated, providing a seamless and integrated experience for businesses using both platforms. In conclusion, the Biller Genie invoice management software is an invaluable tool for companies looking to streamline their invoicing processes and improve efficiency and profitability.