What is an invoice management system?
Invoice management systems allow businesses to simplify document management by creating a consolidated database with all the invoice documents for customers and suppliers. Invoice management systems keep track of payables and allow companies to stay updated with upcoming payables.
What are the benefits of an invoice management system?
Invoice management systems allow companies to automate accounts payables by automatically sending reminders, updates, and alerts to manage customers and vendors. Invoice management systems are an invaluable cash management tool to keep the business up-to-date with revenue, expenses, and profitability. Using a reliable invoice management system can save you hours of trouble sifting through manual records and provide you with insights into business performance in a streamlined interface.
What is automated recurring billing?
Automated recurring billing procedures allow companies to receive automatic payments on a recurring basis. These payments are often used for the sale of products and services that are delivered on a concurrent basis. In the automated billing model, businesses don’t have to send invoices to customers regularly. Customers are also saved from the hassle of having to make payments on a regular basis. The automated recurring payment process initially authorizes the payment from the customer’s preferred payment channel and automates the payment to the merchant.
Is recurring invoicing safe?
Recurring invoicing is protected by the highest level of data security and end-to-end encryption to ensure that your payment data is protected from fraud. Your authorized payment is charged directly to your merchant bank to ensure that your payment details are not exposed at any step of the payment process.