An Organization Design Its Own Online Billing Solution
Although there are a lot of third-party online billing/invoicing solutions available in the market these days, none of these can be entirely tailored to any one organization’s needs. For this reason, it must be worth spending a little time looking at whether a billing solution can be developed or built with internal accounting staff and IT people.
This would mean that an exact specification could be put forward and, if it was executed to plan, this could be integrated with other internal systems. Once the system was up and running, customers would “flock” to it and the cost of sending out paper bills in the mail would reduce considerably. To get detailed information about online billing methods then you can explore this site: http://www.billpower.co.
This would all have the potential to save a lot of money-wouldn’t it? In this article, we will look at the six major issues that need to be considered before choosing to go down this path.
Let’s assume that a job to construct an in-house on the web charging system fulfilled return on investment criteria (at least in the outside ) you can find six key problems which will need to be thought about before opting to go down such a course. But before we start looking at those six dilemmas, let us briefly consider a company’s motivation to take on a job like this. The regular logic of the majority of organizations is”after a order, we socialize with clients now by sending a newspaper bill, however it’s high priced.
Putting that’little bit of paper’ on our web site will probably soon be more economical and also we can still interact with your clients via our internet site”.
As the charge of doing charging via our internet site is going to likely be 10 (for example brand new internal operating expenses), and also perhaps a 35 percent /0.5 million saving the interior funding build cost of 0.5 $ 1 million could be warranted. ” Where this version is faulty is that research informs us that just 46 percent of clients pay at any given Biller’s site (to get a lot of reasons that we’ve covered in other weblog articles ).
This usually means the actual cost per statement eventually ends up being greater than simply issuing paper and also no more ROI is achieved. Nevertheless, in spite of those issues, let us hypothetically say an organization stills really wants to really go ahead. Exactly what will be the difficulties to consider? The very first thing to consider is will the company build a program of adequate scope and caliber? These are normally much cheaper and more advanced than whatever can possibly be manufactured in-house.
Generally, widely available applications made for mass market consumption is much more advanced than software developed in-house, chiefly due to the economies of scale which can be gained. An internet billing solution wouldn’t be different in this aspect? To put it differently, any in-house solution will probably lack the security, reporting and features capacities needed and might be robust, safe or as userfriendly as a professionally constructed application assembled by specialists in this area.
With all of these issues to consider, as well as the fact that third-party systems are now so well-developed (and in many cases available on a pay-as-you-go basis) this looks to be an easy decision, especially when given serious thought. In answer therefore to the question, we asked at the outset- Should an organization design its own online billing solution? We think the answer is simply No (or at least only if it thinks it can overcome all of the obstacles mentioned above).