Once the orders are successfully managed, it’s time to keep the record of payments made by the customers and the one to be made to the suppliers. Usually, a small or medium-scale retailer or service provider would keep a register of payments to ensure that all cash inflow and outflow records of the business are managed with maximum efficiency. However, that requires a lot more resources, including your precious time, to maintain proficiency in record-keeping. With the technological advancements happening at a rapid pace, it is now effortless to manage customer and supplier receipts. Spectrum BPO works with advanced IT systems, which are although beneficial for a lot more reasons, but specifically, they are helpful to provide top-notch payment and billing support. Our billing support specialist team will work on to manage the following aspects of your business:
Cash transactions are the easiest way for your customers to buy your products and for you to purchase your supplies. Spectrum BPO will maintain your sales and purchase records on an electronic database. Thus we will update you about your business reports that will be easy for you to analyze sales and purchase transactions of any given period.
Along with cash transactions, our experts will also keep an up-to-date record of your credit transactions. It will then be easy for you to know how many order payments are due to be paid by your customers in the future, and how much you owe to your suppliers. All these aspects will be covered in our bill payment support services to ensure that all credit transactions are adequately recorded on the database sheet.
With Spectrum BPO, you don’t need to be concerned anymore regarding your Bills & Invoice Management. Our billing & payment services also include generating invoices and record bills of your business transactions. We will ensure that you receive payments from your sales invoices and promptly pay out your bills that are pending towards your suppliers.
Not all customers purchase on a cash or credit basis. Some of them use purchase cards to perform transactions. Our online billing and support agent team will keep a separate record on your business database of those customers who perform credit or debit card transactions. It will, therefore, be easy for you to know how much payments you are going to receive from purchase card customers.
If you deal with 3rd party suppliers to deliver your products to the customers on your behalf, you will have to issue a purchase order for every transaction. With Spectrum BPO, you can have an organized database that consists of a disciplined record of all your purchase orders that will assist you in carrying out product analysis, i.e., which products are most demanded by your customers. You can make your future strategies in the spotlight of that analysis.