What is billing software?
In business IT, billing software refers to programs that take over the tracking of billable products and services that are delivered to a customer or a group of customers. Some billing software also tracks hours worked for billing purposes. These types of programs automate much of what used to be a time-consuming process of creating invoices or other documentation.
The modern digital structures provided by the billing of software services and products are part of what has led businesses into the new digital age, resulting in greater productivity and greater ease of business administration in general.
The introduction of spreadsheets and other simple tools made billing a lot easier for many companies. Functions such as automatic data processing and table-like data processing enable a large number of customer accounts to be entered and calculated quickly. Billing software services have been developed in various industries to accommodate the many specific details of billing within a particular area or market.
One of the best examples is medical billing, which requires, in addition to dollar amounts and customer (patient) identification, other types of identifiers, such as codes that represent diagnoses and procedures that are performed according to the diagnosis. Many billing software products contain these types of industry extras. Many of them are also compatible with a larger IT architecture to enable remote access. This contributes to better management and easier compliance with audits and tax requirements.