Bring automation into your invoicing
Companies that issue invoices rapidly stand to bring cash back into the business faster. However, many store-up invoices to send all in one go, often once a month. If invoicing processes were more efficient, they may not feel the need to set time aside in this way; instead they could bill for work as soon as it’s completed, reducing the time the business waits on payments.
Manual processes are often at the root of delayed invoicing. Tracking down information – customer details as well as confirmation of products/services delivered – compiling the invoices, printing documents, addressing envelopes, ensuring the correct paperwork goes into the right envelopes, adding postage and going to the Post Office, can be a big chunk of time out of the day.
Even when customers have chosen to go paper-free and receive invoices electronically, it’s still a time-drain. Often emails are handled completely separately to invoices sent by physical post, with individual emails being created for each customer and invoices attached.
Fast-track invoice distribution
Through automation, enterprises can cut the time it takes to prepare and issue invoices. This can be achieved with specialist in house equipment and software, but outsourcing is an option Documents are prepared using an on-line portal, then the physical job of printing documents, stuffing envelopes, addressing, adding postage and posting is handled by an outsourced mail production facility.
What’s more, ensuring that each invoice is sent to the customer in the way they prefer – be this electronically or by paper copy in the post – is as straightforward as selecting the appropriate option through the web-based portal.
Issued documents also get securely archived for easy retrieval and efficient records management.
You may send tens, or hundreds, of invoices; maybe you send thousands, whatever the size of your invoicing activity, this scalable, automated method of distribution helps your business:
- Improve cash flow by enabling payments to be brought into the business sooner
- Satisfy customer preferences for receiving invoices electronically or by mail
- Reduce staff time spent on mundane, manual invoice preparation so they can use their valuable skills in other ways to benefit the business
- Improve efficiency by removing issues that can stall invoices going out, such as printing problems and absences among staff responsible for sending out post
- Increase security through the inclusion of unique identifiers on mail
- Efficiently store archived documents.
Find out how Neopost can help your outgoing mail distribution for more efficient invoicing.
Making Tax Digital is now law – are you paperless ready?
From 1st April this year, the government’s ‘Making Tax Digital’ (MTD) programme became law for over one million VAT-registered businesses earning more than £85,000. Dictating that tax records are kept digitally, and requiring businesses to submit VAT returns using MTD-compatible software, the new rules are...