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Why it pays to automate your invoicing process

August 3, 2011

In any business, cash is king. The more cash you have in your bank, the more choices you can make about your business. Hence, anything that help you get cash faster into your bank is simply a no brainer.  So if you can automate your invoice process, it means that you can start to improve your cashflow considerably.

Just for clarification, by automation, I mean that you can produce your invoices at a click of a button – instead of manually producing them. By automating them the invoice is automatically populated with the following info:-

  • Your customers name and address
  • A description of the products and services supplied
  • Quantative information relating to the volumes and price of the products and services supplied
  • Invoice totals inclding any sales tax such as VAT
  • Payment Terms & Conditions

The alternative is you manually produce them by typing out all the information or copying it from another source.

But just how much time can be saved through automation ? One of the best systems I implemented was for a courier firm. They undertook over 1,000 journeys on behalf of their 30 or so customers in a month.  It used to take them 6 hours a fortnight to generate their invoices. After I finished working with them – just 5 minutes. Over a year they saved over a week – which can be used on other tasks.

 

 

 

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