Stanbic bank along Kenyatta Avenue in Nairobi. FILE PHOTO | NMG
Stanbic Bank Kenya is targeting businesses including travel agents with a new electronic
billing system dubbed e-Biller that can be used to process invoices and
generate payment instructions. The lender said on Tuesday that the
platform streamlines the process of billing, reconciliation and payment,
easing the deals for companies.
Stanbic Bank’s chief
executive Charles Mudiwa said that besides enhancing efficiency, the
platform minimises errors such as duplication of invoices or bills and
enables companies to maintain an electronic audit trail with a history
of all transactions.
“e-Biller enables companies to
stay competitive and ahead in their sectors by enhancing efficiency and
minimising the cost of labour,” Mr Mudiwa said. AIG Kenya Insurance
managing director Catherine Igathe said the platform will improve
insurer’s billing and collection processes.
“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 Mrs Igathe.
“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.”
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