Recurring billing refers to a process of all billing related functions including generating and sending invoices automatically for charging customers at regular intervals (recurring basis). It eliminates the need for manual invoicing and allows businesses to collect payments seamlessly and efficiently. By automating the billing process, companies can save administrative time, reduce errors, and improve customer satisfaction.

With EarnBill, you get a lot of flexibility to customize the capabilities of the billing process as per your business requirement plus customer preferences. In addition to the functionalities of core billing, EarnBill offers some other capabilities as listed below.

This enables you to generate a review billing report before generating the final / actual invoices for any particular billing cycle however it’s an optional feature. The purpose of this feature is to validate the simulated invoices, rectify mistakes or inaccuracies found and make any corrections needed in the respective subscription order, before processing the real invoices. The report also provides a revenue forecast (total invoiced amount) which is expected to generate for any given billing cycle. The review billing report can be approved or disapproved.

If this option is enabled, the EarnBill system automatically applies payments to unpaid invoices. For example, a customer may make a payment to their account, which may not be specific to any invoice and if that customer has any unpaid invoices then the system automatically finds such payments and links to the unpaid invoice(s).

This option allows you to set up automatic payment processing (secure payment handling) before the due date of invoice. For example, any business model where the customers are charged on a recurring basis can use EarnBill automated billing to automatically collect payments from customers’ credit cards on a periodic basis. This can help the company to improve its cash flow, reduce the risk of customer churn and help to improve the customer experience by making it easy for customers to pay for their purchases.

EarnBill’s automatic collections feature helps to collect payments, send notification reminders, and suspend customer accounts too in case payment is not done after multiple reminders. The Collections Process enables you to define multiple steps as per defined company’s policy. This further minimizes revenue leakage by automatically recovering failed payments using EarnBill’s configurable retry mechanism of collecting payments. It ensures minimal disruption to your cash flow.

The efficiency and accuracy are the most important quality factors of a software product. EarnBill helps businesses save time and money by automating many of the manual tasks involved in the entire billing process, such as creating invoices, sending out bills, and tracking payments. With automated processes, employees can focus on other tasks, such as core business activities, drive growth, enhance productivity and customer service or sales. Not only this, the EarnBill provides an option called Review Billing report (as described above) which enables you to review the invoices, rectify any inaccuracy found and make necessary corrections before processing the final billing run, this helps eliminate the risk of human error and ensure the highest level of accuracy in the invoices.

Scalability is an essential component of any software system. Therefore, EarnBill’s Billing system is designed in such a way that it provides horizontal scalability to support growing amounts of data. This means, as your business grows, EarnBill effortlessly scales with you. It can handle an expanding customer base, increased transaction volume and ensure a seamless experience for both you and your customers.

Choose EarnBill for your billing needs and leverage its powerful features to streamline your recurring billing operations.