E-billing: The New Way to Spend Money!

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  • Category: Blog

There have been many advancements in technology which have driven growth all around the globe. Businesses that have chosen to ignore such advancements have faced a lot of challenges and have lost revenue from their competitors who have embraced the modern business environment. However, if such businesses choose to embrace technology, they may stand a chance of rising to the top and attaining more success. NLS Banking Solutions offers digitization techniques and tools that are necessary to attain this competitive advantage.

Better Cash Management

E-billing ensures return on investment by triggering early payment discounts. Usually, an organization may take a long time making payments especially when it comes to the invoice process. However, Tera e-billing from NLS will help an organization enroll and identify suppliers during the early stages of payment. Today, business networks are offered the opportunity to propose and earn more savings on an invoice that is virtually approved by providing the suppliers with early payment so that they can get a discount.

Companies use e-billing for several reasons and some of them include monitoring and controlling the telephony expenses which would save a business money and time. This means that billing systems are important in all businesses. Investing in these systems usually saves businesses costs related to infrastructure.

Integrating NLS Tera E-billing will increase customer retention through its enhanced modules that manage the customer expenses and it has flexible reporting which establishes trust between a biller and the customer.

What Is NLS Tera E-Billing Solution?

The software solutions company offers businesses and financial institutions automated invoice process that includes real-time electronic bill presentment, reconciliation, and payment of bills. NLS Banking Solutions is simplifying business transactions by making them more accurate and personalized.

The e-bill payment engine from NLS can help businesses/financial institutions:

· Load billers on the system and set them as active or inactive.

· Enable various channels within the business/financial institutions to connect to the system using a single web service definition.

· Choose via Admin module which partner to route transaction per biller i.e. quickly change channels which could be between various aggregators or direct connectivity between the engine and the biller.

· Set which biller has bill presentment and at the same time allow the downstream channel to know which biller has presentment so that the request can be forwarded to the biller for presentment.

Digitizing the payment process means that an organization will be able to increase its productivity which will create additional time to focus on the strategic initiatives.

Importance of E-Billing to Businesses

As businesses increase their communications investments, there is a growing need to see exactly where the money is being spent. With the current pressure on operational budgets, organizations need automated tools that enable them to have complete visibility into their telecom expenditures, and the ability to easily monitor, audit and control costs and usage across their entire organization