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10 reasons to automate your invoicing

August 21, 2011

By automating your invoicing, I mean that you generate your invoices at a click of a button- as supposed to creating them by hand. Here are 10 reasons why this will benefit your business:-

1) You will save your yourself a considerable amount of time Have you ever worked out the time you waste on generating invoices ? I had a customer who saved himself 15 working days a year by moving to an automated invoicing system.

2) Your branding will improve By generating your invoices automatically, they will by default have exactly the same look and feel – making you and your organisation look much more professional.

3) Improved Cashflow – Most people hate repetitive tasks such as invoicing – if you simplify a task then you will do it earlier. The earlier you send your invoices out, the earlier you will get paid.

4) Reduced Overheads – A manual invoicing system will involve either your time or your staff’s time (with you double checking everything). If you automate your invoicing, then you no longer incur this cost.

5) Sequential invoice numbering – How many of us leave gaps in our invoice numbering ? i.e going from invoice no. 182 to 184  ? In the UK, HMRC (Her Majesty’s Customs and Excise) take a suspicious view of gaps in invoice numbering. They worry that an invoivce has been raised and the money withheld from the business.

6) Improved Payment Profile By generating your invoices automatically,you should also be able to generate the payment due date automatically. This means you can track those invoices that have not been paid by a certain date.

7) Identify your best and worst customers. If you have a system that creates your invoices automatically then you can analyse who are your best and worst customers and use this to generate more sales.

8) Determine your best selling products – A properly designed automated invoicing system will allow you to determine which products you are selling and who to.

9) Reduced Accountancy & Bookkeeping costs. If you generate our invoices manually then you probably provide your accountant and bookkeeper a stack of paper. However if you automate your invoicing then you can provide them with the summary information that they need – saving you money.

10) You can have a holiday – Well if you save yourself 15 working days a year and your cashfow improves through better payments … then I’d say you deserve  a holiday !!!

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