Stanbic Bank targets firms with e-Biller
Stanbic Bank Kenya has announced its plans to transition into using more digital technology by targeting companies using e-Biller.
The financial organisation is looking for businesses, such as travel agents, that have adopted the new online billing system.
The system will process invoices and generate payment instructions for firms, working as an efficient alternative for billing, reconciliation, and payment.
The edition of this technology will also minimise errors and mistakes, such as the duplication of bills.
e-Biller will also keep an electronic record, or audit trial, with a history of recorded transactions.
“e-Biller enables companies to stay competitive and ahead in their sectors by enhancing efficiency and minimising the cost of labour,” commented Charles Mudiwa, Chief Executive Officer of Stanbic Bank.
“e-Biller has greatly solved our challenge of manually issuing invoices to agents for sales made, and collection of travel premiums at the end of every month,” said Catherine Igathe, Managing Director of AIG Kenya Insurance.
“Reconciliation of agents’ invoices is a critical function of our business, and by automating the billing and collections cycle through e-Biller, we shall be able to make significant costs savings by reducing the need for manual re-work.”