Roi Bill Pay Com Roi

roi bill pay com roi

If your company had these options, wouldn’t it be nice if a task that takes hours could be completed in a matter of seconds?

Maybe we’re not quite there yet, but that doesn’t mean you can’t use contemporary methods to increase your accounts receivable (AR).A few technology-driven strategies with a real and significant return on investment include automation, ACH transfers, and recurring invoicing and payments.

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Checkout our official roi com roi links below:

ROI Payments – Enterprise Payment Solutions

ROI Payments is a NYC-based tech consultancy that implements cutting-edge payment solutions for demanding, growing and global businesses.

Billing & Payment Service Provider – ROI Solutions

Nov 15, 2022 — It’s all possible with ROI’s interactive phone-order-taking service, appointment setting, and bill payment services.

The ROI of Accounts Payable

The National Clearing House Association (NACHA) estimates that checks account for about half of all business payments.Checks, whether they are written by hand or printed on a computer, are the enemy of effectiveness and value. They demand more time, effort, and money to support Don’t believe us? Let’s look at the numbers

What if you could reduce the cost of paying your bills by 95%?

Putting it into perspective, you need three employees to assist you in paying 500 bills each month. This is what the cost looks like:

  • Average cost of employee time spent on paper checks: $1,280
  • Cost of supplies such as check stock, envelopes, stamps and more: $150
  • Bank fees: $380
  • Postage: $235
  • Total for the month: $2,045
  • Total for the year: $24,540
  • Now, if you stop using paper checks and switch to automating processes through Billcom, your numbers would change significantly

  • Average costs of employee time spent on digital business payments: $70
  • Materials: $0
  • Bank fees: $70
  • Postage: $70
  • Total for the month with digital payments: $140
  • Total for the year with digital payments: $1,680
  • But why the sharp decline in price? Using Billcom, you replace paper with digital processesYou’re implementing electronic document management, online business payments, and automated workflows, all of which reduce the expense and time involved in paying bills and handling payables.

    BUT I already pay my bills electronically!

    You’re already a part of the digital bill payment revolution, which is great news to start with.But how exactly are you paying electronically? Perhaps through the systems of various vendors, or perhaps through online banking? While these options accept digital payments, they might not be suitable for businesses.You might discover that taking extra steps still costs time and money.

    If your bill payment process isn’t fully digital, “paper leaks” can result in higher costs and labor. For instance, when you make payments via these methods, is that information syncing with your accounting solution, or do you have to manually enter information? Worse yet, print and file associated information for documentation.

    The ROI of Accounts Receivable

    But what about invoicing? How expensive are paper invoices?

    Let’s take the model above and apply it to invoicingYour company sends 500 paper invoices per month, and you need three employees to help with the process.Costs similar to those mentioned above—and possibly even higher costs—would apply.

    However, when you invoice with, the process changes remarkably.

    Paper is completely eliminated Invoices are pre-populated with the correct remittance informationBefore sending the invoices, you can review them, or you can have them sent electronically. Even better, Billcom can collect payment automatically when it sends the invoice

    Lets take a second to consider that.

    The invoice cycle in an AR process that uses paper might resemble this:

  • Your team creates and prints the invoice.
  • They stuff and mail it.
  • After 3-5 business days, your customer receives the invoice. It takes the company another 2-3 weeks to receive, review, and authorize payment for it.
  • They mail you the check.
  • After 3-5 business days, you receive the check.
  • You run to the bank to deposit the check.
  • After a couple of days, the check clears.
  • You reconcile the amount manually with your accounting solution.
  • With, the process would look like this:

  • On the selected day of the month, an invoice is automatically created and electronically sent to your customer.
  • Since the customer has agreed to recurring payments, payment is collected that same day OR the customer receives the invoice immediately upon emailing and can pay online in a few taps or clicks
  • Customers can review the invoice online and collaborate with you through a secure portal as an added bonus. In the end, the BillThe com AR process gets rid of the need for a lot of labor, extra money, and wait times. Believe us, your cash flow will thank you

    It’s time to see the ROI of AP & AR.

    You can learn more from our customers here.

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