Let us admit it – processing business expenses on your own, day after day, can be a drain on productive time. And that is not including the time it takes to get your bills approved, paid and recorded in your accounting system.
In the business world, even a small advantage helps. One foolproof way of improving the efficiency of your resources is by switching to digitized payments. But first things first.
What is payment digitalization?
Payment digitalization is an integrated solution that allows businesses to make bill payments directly through an electronic payment system.
Yes, bill payments do not have to be a time-consuming and expensive accounting task. Enter Paytm Payouts Enterprise Bill Payments. Here are ten ways your business can benefit from digitizing utility bill payments with our solution.
Ten business benefits of digitizing utility bill payments with Paytm Payouts Enterprise Bill Payments
#1. Simplify utility bill payments
Paytm Payouts Enterprise Bill Payments is an easy-to-use system that lets you monitor pending utility bills and make online bill payments before the due dates.
It lets you manage all your bills (electricity, water, internet, phone, etc.) with just a few clicks and enables easy tracking of payment statuses. Each type of utility bill can be sorted and paid for multiple operative locations for a corporate.
Moreover, you can set up this solution and run it in days with our simple onboarding process. Yes, you do not need to invest time and technical resources in integrating the Paytm Payouts Enterprise Bill Payments solution. We have got your back.
#2. Offers a great coverage of operators
Paytm Payouts offers coverage of an extensive list of utility operators across all States and Union Territories for our enterprise bill payments solution. Yes, you neither have to go to each operator’s website nor does your staff have to stand in long queues to make bill payments.
With Paytm Enterprise Bill Payments, you can make the bill payments for almost all the operators including, electricity, water and telecom from a single dashboard.
#3. Completely online bill management solution
Paytm Payouts Enterprise Bill Payments is a robust payouts solution that helps businesses save time by streamlining the entire bill payment workflow. Yes, you can save 50% of the time spent on sorting different utility bills and devote more time to strategic work.
Manual utility bill payments are messy, even for small businesses. It can be a nightmare for enterprises. Without a modern bill payments platform, month-ends for your resources will bring stacks and stacks of bills, spreadsheets across different folders, an overflowing mailbox, multiple tools open, and pulling all-nighters post office hours.
Paytm Payouts Enterprise Bill Payments can save your resources from manual bill sorting, data entry work and improve accuracy with features that let users add, edit, view, pay and delete bills. That too for each store/office/warehouse from a single platform.
With Paytm Payouts Enterprise Bill Payments, you can free yourself from paper-based or email-based approval workflow and move to a completely digital workflow that offers unlimited cloud storage for bills, transparent digital payment approvals and payment reminders.
#4. Gain complete control over your bill payment processes
Paytm Payouts Enterprise Bill Payments gives you complete control over your organization’s finances consumed for various bill payments while giving more visibility into cash outflows.
The intelligent dashboard gives daily notifications to the users about:
- Overdue bills
- Bills generated the previous day
- Status of bill payments initiated the previous day
It enables you to make informed business decisions about cash flows quickly backed by reliable payments data.
Moreover, it eliminates the chances of inaccuracy as you can check anytime whether or not the purchases and payment accuracy with purchase order matches.
#5. Manage & allocate resources with multi-user dashboard control
Paytm Payouts Enterprise Bill Payments is a highly customizable tool that lets you add your teammates as multiple users with separate roles. Most roles are built within the dashboard with a set of permissions.
When a role is assigned to the user, he/she can access the features of the Payouts dashboard as per the assigned permissions to their respective roles. You can also customize the roles as per the needs of your organization.
Thus, the administrator user can define who can upload bills, who can approve these bills and who has the authority to pay them.
While doing all this, you do not have to worry about the security of the primary account and the multiple sub-user accounts.
#6. Do bulk mobile recharges
Have huge teams of business development executives, salespeople and field executives? Need to reimburse them for their mobile expenses? No worries! Paytm Payouts Enterprise Bill Payments can do that for you with a single click.
Our solution allows you to do bulk mobile recharges without adding an individual bill. All you need to do is upload the phone numbers and the amount to be reimbursed, and you are all set for recharging your employees’ mobiles with a few clicks.
Read more about this simple and easy process here.
#7. Enable advance bill payments, partial bill payments & save more
Many state electricity boards, water boards and telecom companies offer incentives to those who pay their bills in advance. Utility bills for even small businesses are usually huge. They are insanely high for enterprises with multiple business centers in various locations.
By utilizing discounts extended by state governments for making advance payments against utility bills, businesses can save a great deal of money.
Paytm Payouts Enterprise Bill Payments solution goes the extra mile by sending timely notifications/reminders to let those responsible for making utility payments know the timelines and deadlines for utilizing such discounts and offers.
Some operators allow partial bill payment as well. You can use the ‘Pay custom amount’ feature to make partial payments with our product.
#8. Enables store scalability
What is one of the biggest challenges enterprises with multiple stores scattered in various locations face while using enterprise billing products? It is the hassle of adding details of thousands of its stores into the system.
Paytm Payouts Enterprise Bill Payments comes with a robust feature that lets your users virtually support unlimited stores in the Paytm Payouts system.
#9. Filter stores conveniently
The challenge that comes after the one explained above is the hassle of filtering stores from a huge database. To solve this, Paytm Payouts Enterprise Bill Payments has improved its filter mechanism for primary users and all the sub-users of this product.
We have gone a notch higher to enhance the user experience for all the users by allowing them to filter stores based on location, store name, store ID, etc., even if they only have a vague idea about a store.
#10. Lets you pay with confidence
Paytm Enterprise Bill Payments comes with fraud detection capabilities so that your information stays secure.
We have high-security systems encrypted in our system and identity verification systems in place to ensure that you never have to worry about your account’s safety.
If you do not have an intelligent bill payments system for your organization yet, now is the time to get started.