What is paperless billing?

Less paper, more efficiency. Learn how paperless billing can work for your business.

Billing isn’t the most exciting subject. But it shouldn’t be a stressful subject, either. Taking your billing systems paperless can save huge hassles and create major organizational efficiencies. So, what is paperless billing? Learn more about why you should implement paperless billing to free up time and headspace for the fun parts of doing business.

The benefits of paperless billing.

Paper billing can be a critical touchpoint for many business-customer relationships. While paper bills help make payments and payment reminders more tangible, benefits of going paperless include:

• Reduced costs. Save on all the expenses of paper billing — everything from paper and ink to printing, envelopes, stamping, and mailing — not to mention the actual time cost to get those paper statements out the door every month.
• Improved security. Since paper billing requires a business to print and mail account information to customers, billing information passes through many people and departments before arriving in customers’ mailboxes. This sensitive data can get lost easily or end up in the wrong hands. Paperless billing allows businesses to send personal information directly to their customers, minimizing opportunities for loss or theft.
• Quicker payments. Mailing bills, waiting for them to be delivered, mailing reminders, and receiving payments can take weeks — sometimes even months. With paperless billing and payment integrations, you can bill customers directly through their emails or online accounts. This process enables instant payment, quicker reminders, and much more efficient troubleshooting if something goes wrong with the transaction.
• Better for the planet. Cutting down on paper benefits the environment. Using e-docs decreases the demand for paper and keeps paper waste out of landfills.

How paperless billing works.

In paperless billing, your customer receives an electronic version of their bill or statement instead of a paper copy, usually distributed via email or text message or posted in a customer portal.

To submit payment, a customer can electronically transfer funds from a bank account or pay via credit or debit card.

What is paperless billing implementation like?

Implementation is key as you move to paperless transactions. A thoughtful, measured approach will prepare your organization for success by anticipating and solving problems before onboarding customers. Each step of the process builds on the decisions made in previous steps:

1. Choose the right technology. Take time to vet your technology options thoroughly. Choose a platform that not only matches your current needs but can grow alongside your business in the coming years.

2. Understand legal and regulatory compliance. Your business will have specific compliance requirements and standards for using paperless billing based on your industry and geographic location.

3. Craft copy for paperless billing details. Work with your legal department and customer marketing team to write about how and why your customers should shift to paperless billing.

4. Confirm data migration processes. Understand how long the data migration process will take and ensure that all essential data is included.

5. Implement security measures. Security is the top concern with paperless billing. Create a process that protects your customers, their data, and their funds.

6. Conduct internal testing. Review your process with various stakeholders and departments and get their feedback. Fix any problems and take advantage of opportunities to improve the customer experience.

What are the challenges of paperless billing?

Paperless billing implementation comes with a unique set of challenges. To prepare to accept and process payments digitally, your business will need to invest time and money toward the following:

• Security. Your customers must trust that their data will be protected and used correctly.
• Compliance. Ensure your billing platform is compliant to avoid penalties like fines, limitations on business activities, and even prison time.
• Integration. Examine how paperless billing will integrate with your current systems and processes. Plan for a smooth transition.
• User Adoption. Strategize how you will encourage your customers to shift from paper to online payments.

How to encourage paperless payments from customers.

Just like you’ve had to learn the ins and outs of implementing digital billing processes in your business, your customers may ask themselves the same questions: What is paperless billing, anyway? And why should I use it over paper payments?

Create a communication plan to quickly share the benefits of paperless billing with your customer base:

• Conveniently pay anytime, anywhere
• Save money by avoiding mailing and processing fees
• Reduce your carbon footprint
• Keep payments secure, knowing they will never get lost or stolen in the mail
• View your payment history without storing stacks of paper documents

For customers who switch to paperless billing, consider an incentive, such as a dollar amount deduction from their bill or monthly statement or a chance to win a gift card. Some businesses even create a rewards program for customers who pay online.

Go paperless with digital documents for your business.

Learn more about how digital documents can make your business more efficient with Adobe Acrobat for business.