Invoices can be something of a hassle, particularly if you're still using manual invoices, scanning them in, sending them off via email, and waiting for the results. In addition, if you are a supplier, you then have to check through which invoices have been paid, and match them with the relevant purchase orders. When it comes to sales automation, this bottleneck can result in extra costs.
This is because you need a larger team to go through invoices to confirm which have been paid and chasing down payment for those that have not. With an automated invoice system, this hassle is significantly reduced.
Benefits of an automated electronic invoice system:
Whenever a potential client creates a purchase order, it should be done through your sales system. This means that you can instantly match up each order with each client and the agreements that you have created as part of the sales process, so you can tell what has been agreed to. In addition, by matching up each invoice with the purchase order, you eliminate the risk of duplication.
By altering the numbers in the document while keeping email addresses and the companies' information the same, you can streamline the process of invoicing and automate the actual invoice emails.
Going green with electronic invoicing:
Even better, because electronic invoicing requires less paper, it reduces stationery costs for your business and reduces mail charges. In addition, because you can verify that an email has been sent and has been received, you reduce the potential excuses that a client can come up with for not paying.
Overall, electronic invoicing benefits everyone, and it ensures greater accountability.