ISOCKET e-Billing and Invoicing Solution
ISOCKET e-Billing and Invoicing Solutiom helps in the processes of paying and receiving bills online. Bills or invoices are generated digitally by computers and software applications. ISOCKET e-Billing and Invoicing, is not only the generation of e-bills, but also the system that allows these bills to be paid electronically. An e-bill is usually generated by an accounting or financial software solution and then sent to the payer by email or a web-based portal.
This e-Billing and e-payment portal usually allows the payer to access copies of their e-bills and manage or update information. E-billing is a fundamental component of modern finance and is leveraged by both accounts payable (AP) and accounts receivable (AR) departments to help automate workflows and reduce reliance on paper-intensive processes.
Benefits of ISOCKET e-Billing and Invoicing Solution
Traditional billing and payment methods relied heavily on paper and checks. This process made organization a difficult task with no clear system of record (SOR). Modern finance and accounting applications allow for digital SORs to exist for both the payer and the payee. Billing and invoicing systems often integrate directly with payment platforms, furthering the ability to keep a clean, organized SOR.