Paper invoicing is costly (and it’s not good for the environment)
It’s hard to believe that in 2018, most business are still involved with the time consuming and costly process of sending paper invoices.
Did you know, that studies have documented it costs an organization up to $33 to generate, handle and send each invoice to their customers? Neither did we, but the costs go beyond just the paper, envelopes, ink and stamps, it’s all the time and costs associated with your staff creating and handling the paper at each step along the way.
Your paper invoicing slows the time it takes to get paid
As manual as the process is to invoice, it’s still a relatively straight forward from your side as you have the efficiencies of your system, batching process, invoice runs and while you are invoicing multiple customers, apart from the invoice specific details, you are only dealing with 1 document type.
It's not so simple for your customers (as your Accounts Payable department will tell you). While you are familiar with your invoice, your customer has to deal with numerous suppliers who’s invoices are formatted differently and arrive at various times during the week. Then there is the time consuming task of checking/validation, and chasing authorization for payment. Then the laborious job of manually keying those invoices into their system. All of this can take several weeks to happen before you can expect to receive payment.
Even if you are emailing your invoices to customers. While you have been able to achieve that cost savings for your process, you still haven’t done the same for your customer – all you’ve done is eliminated the mailing step. In most cases, they still have to print out the emailed invoice and run it through their manual process. This is because you actually haven’t supplied an e-invoice which automatically populates their system with the details of your invoice. In fact, emailing might slow down the process as they now have one more thing to remember or add to their manual system.
Want to get paid quicker? AccountsFlow will get you setup in minutes!
Virtually every finance application can generate an invoice as a PDF file, and they can also automatically send the PDF to the customer via email.
When a PDF is generated by your system, in almost all instances it will be a searchable text PDF, with your invoice data items carried directly within the PDF. AccountsFlow takes advantage of this and maps the invoice data direct from your PDF to an e-invoice structure that will automatically populate your customers system.
As this information is embedded into your PDF invoice, there is no expensive system programming required, we do the mapping for you, line item by line item, utilizing our proprietary technology, which only requires 20 minutes or our initial setup time – free of charge to you!
By mapping only one of your invoices, you are all set to E-invoice to all your customers. We even make it easier for you, by having you direct all your invoices to one email address – we will handle directing those E-invoices to your customers and mapping the data directly to each customers unique system.
No manual rekeying, 100% accuracy, loaded into their system immediately!
Stop Chasing Customers for Information
Put an end to the phone calls and emails for missing information. By using AccountsFlow E-invoicing, you’ll have the assurance your invoice has been received by their system, eliminating the “great invoice paper and payment chase” and the excuses. With your invoice immediately in their system – you’ll get paid quicker, it’s that simple.
In the process, you will strengthen your Customer-Supplier relationship because you will automate their manual process, freeing their time up for the more the important activity of running their business, not processing paperwork. You will also reduce pricing errors, that occur from time to time, as part of AccountsFlow, we have incorporated our “Price Checker” module. Price Checker will immediately highlight any pricing discrepancies which allows you to take corrective action, shortening any potential payment issue, thereby further building trust with your customer. We also store your invoice in the cloud for your customers so they can free up their filing system and can retrieve any document years into the future.
So what are you waiting for?
No charge to you, quick implementation, reduces your costs, achieves faster turnaround on your accounts receivable and strengthens your customer relationships - call us today to find out how to start sending your customers E-invoices with AccountsFlow.