ABCAdda | Updated Sep 21, 2022
Did you know that all over the world, people use the internet every day? With the convenience and flexibility of social media, online shopping, instant messaging, and 24/7 access to information, consumers have more control and access to businesses and brands than ever before.
As a result, this type of interaction has moved into the business-to-business space. As the demand for personalized experiences and transactions is high, many consumers and businesses are looking for automated solutions to improve user experience, especially regarding billing and payment issues.
While this is very challenging for IT departments and teams, implementing Electronic Invoice Presentation and Payment (EIPP) offers many benefits for businesses. The EIPP Europe includes self-service portals, web-based technologies and services, and e-invoicing solutions.
Before knowing EIPP let us see!
The invoice-to-cash process describes the path from invoice to a collection. It consists of a series of steps taken after your organization issues an invoice until the final payment is received, including:
The invoice receipt cycle is the EIPP process. You issue invoices, send them to customers, collect them, and then send them back to accounting for reconciliation with the original and any changes made. Includes billing, account management, payments, and billing to maximize the collection of unpaid invoices.
EIPP is an electronically web-based technology that automates and streamlines business processes and transactions through a self-service portal that is proven to reduce billing. EIPP India improves cash flow and customer experience and reduces customer support costs.
In addition, EIPP Lowell enables companies to manage relationships with suppliers and customers more effectively while providing faster access to information.
EIPP high radius, also known as Electronic Billing Payment and presentment (EBPP), was developed to automate and simplify billing and payment processes. By eliminating manual workflows and paper invoices, EIPP USA helps Accounts Payable teams communicate more efficiently and productively with their Accounts Receivable counterparts.
EIPP solutions use a web-based self-service portal, often delivered via Software as a Service (SaaS), to:
EIPP was started as a lower-cost alternative for companies without the resources for more robust Electronic Data Interchange (EDI) systems.
Over time, as Internet-based technologies matured and SaaS integration simplified while increasing functionality, the EIPP Europe system became a desirable choice for any business looking to eliminate the last vestiges of manual workflows and paper-based processes.
It is understandable, to some extent, that some customers may not appreciate the total value of presenting and paying electronic invoices. Some may not have used the internet or realized that EIPP Lowell is more secure than the postal service.
As a business striving for paperless offices, you can help dispel myths about EIPP UK and its security by talking to your customers.
When sending paper invoices to your customers, it is helpful to include information and advice on moving to EIPP in the same envelope containing their invoices. You can find more suggestions and recommendations along these lines in our guide to helping customers make the switch to e-invoicing.
However, it is possible that some customers may not be able to confirm your EIPP India message; this may include the elderly or those who cannot use the computer for other reasons. In this case, a paperless office may not be entirely feasible. You can best ensure that your communication with customers opting out of e-invoicing is as efficient as possible.
If some level of paper accounting is maintained, communications should be recycled, paper thin and kept to a minimum number of home pages. Or, you can outsource this work to a company like Lowell, which can manage the printing, mailing, and distribution of electronic documents as a managed service. Lowell can also provide you with a single unified interface to collect, report and access your bills invoices process.
EIPP Emagia software can significantly improve a company’s efficiency and optimize its billing and payment processes, as e-invoicing (e-invoicing for short) can save companies time and money and improve customer experience. Think about it:
Automating this process significantly reduces time spent on manual work, freeing employees to focus on more critical tasks. In addition, automated e-invoicing minimizes human error (for example, accidentally notifying a customer who has no pending payment, notifying a branch contact instead of the head office, or forgetting to attach an invoice). It also saves time that would otherwise spend on corrections.
They can click the “Pay Now” link in the email – which can help them get paid faster. If the customer has questions about his account, he can message the seller directly on the portal if he prefers electronic communication to phone calls.
Many software vendors offer EIPPs as part of their larger accounts receivable automation platforms. When choosing an EIPP burn and Wilcox for your company, consider the following questions:
ERP Integration: Enterprise resource planning (ERP) systems are the primary system for accounts receivable teams, but they usually offer limited automation. Therefore, the additional functionality that the EIPP offers can be attractive.
Of course, EIPP is designed to integrate with ERP and its additional accounts receivable management modules, but some integrations can be tricky. Therefore, it is essential that middleware or other Software such as EIPP is easily integrated and connected to multiple ERP systems to achieve better process efficiency and completely streamline invoicing and payment processes.
Integration of the A/P Portal – EIPP burns and Wilcox benefits the Accounts Receivable and Accounts Payable (A/P) teams. Accounts payable portals are becoming a common way for large companies to receive invoices.
For companies that cater to larger businesses, the A/R team may need to do more than send an email and expect immediate payment. While most portals support an Electronic Data Interchange (EDI) standard, each portal and vendor implementation is unique and requires a configurable solution.
Accounts Payable Teams who spend extra time posting invoices on charges payable portals of clients, some of which are industry specific (e.g., retail), can significantly benefit from the automation EIPP providers provided by the EIPP solutions Zauba.
Businesses may also want to consider some level of customization for their online payment solutions gateway to make the platform work (and look) exactly the way they need it. Some providers offer this as part of the platform, while others charge extra for each customization.
A platform that allows you to quickly add your company logo and other branding needs goes a long way in providing your customers with a consistent and authentic user experience. This configuration is also helpful for how your customers can use the platform.
Can users set up payment solutions plans? Access to historical reports? Track new orders? Do I communicate with you? Platforms with limited capabilities, e.g., For example, only accepting credit card and ACH payments and up-to-date bank statements, may not have the flexibility your business needs.
You may need to support standard bank formats such as ACH, SWIFT, and EFT.
Lastly, security is paramount in any B2B payment software implementation. Businesses should seek secure end-to-end connections to small and large customers, enabling direct processing between customer and supplier systems. When choosing an EIPP payment platform, consider whether the vendor is PCI (Payment Card Industry) compliant or using a third-party PCI-compliant processor.
Finally, suppose you are considering introducing an EIPP Zauba or self-service system into your business. In that case, it is essential to consider how your customers will respond to this change. Will this change cause confusion or doubt, or will it be welcomed?
Taking the time to consider customer needs and managing expectations about the new EIPP process will ensure a successful implementation.
Overall, adapting the EIPP system in any organization to address and address customer preferences, concerns, and desires for an enhanced experience has been shown to increase engagement and adoption rates significantly.