Some business issues can just never be resolved. You’ll always have a small amount of employee turnover because well… people move homes, get critical illnesses, have accidents, change career directions and so on. The occasional power outage or slow internet on a hectic day cannot be avoided. Suppliers who are tardy with deliveries, overzealous clients and disloyal team members – all out of your control. But there are several big business issues that were once unresolvable, which can be resolved today thanks to sales invoicing software.
Countless companies all over the UK and America have already migrated to sales invoicing software. Early movers and new users alike are benefitting tremendously – on a daily basis – from the improved productivity and professionalism that sales invoicing software can enable. Many of these companies have managed to also experience improved profitability.
If you are still confused about whether sales invoicing software will be a sound investment, consider the issues that you’ll eliminate with this very minor investment – prices start at just GBP 20 even for super-popular solutions like Dext.
Here are 6 business issues that will be history when you adopt sales invoicing software:
- Lagging (or even lacking) expense submissions and reimbursement requests
Data entry is often not just time consuming but also tedious and many people find it mind-numbing or just plain boring. You cannot blame people for relegating data-entry-related tasks to the very bottom of their to-do pile, nor can you blame them for continually putting it off. Speaking of which, how many tax deductibles did you miss this year, for the same reason?
Ease the data entry burden on your team with receipt scanning, a popular feature in sales invoicing software. You and your team can just snap receipts, bills and invoices and then upload them to the software. The data is extracted and presented to the user as digital text. This can then be copied/extracted to spreadsheets, emails and so on.
- Fireworks in the office when data entry burden spikes
Of course tempers flare when people are irritable thanks to mind-numbing tasks. Be sure to extend access to the employees that bear the brunt of data entry related tasks.
People might also be cranky because they are not sure when you’ll be able to approve their expenses and reimbursement requests, even as they toil over data entry. You’ll be able to resolve this too because when you get sales invoicing software, you get at-a-click approvals
- Errors in data
Your accountant may be the world’s best numbers guy or numbers girl, but they’re still human and, as such, are no comparison to a machine. Link your business bank account for data to flow seamlessly to your books. If you don’t like the idea of that you can also put a bank statement PDF through the receipt scanning mechanism.
The system is also capable of flagging up errors and anomalies in the data, and deleting duplicates.
- Delayed (and sometimes forgotten) invoices to clients; shoddy invoices
As your client numbers increase and the corresponding volume of work expands. Your team gets busy servicing clients, keeping the supply chain in order, putting off fires and so on. There’s no justification for an invoice falling through the cracks but it happens. As do delays and mistakes. A typically small-business issue is lack of standardisation in invoices. Sales invoicing software can
- Standardize and automate invoice generation
- Offer reminders when invoices are due
- Send payment reminders to your clients
- Send notifications when invoices are
- Paid/ settled
- Opened by the client
- You feel like you want to pore over your spreadsheets but can’t seem to find the time
Do you sometimes get the nagging feeling that if you go over your spreadsheets you’ll zero in on (or at least stumble upon) some big holes in the way your business is going. From supply chain leaks to measuring what you do for your clients, a dashboard that summarises key data and spontaneous business insights, sales invoicing software can do the “poring over” for you.
Don’t forget that artificial intelligence does not tire and can process a million data points within seconds, and is therefore fairly well-placed to help you with this.
When you do want to spend a few hours playing detective with your data, you’ll have an easier time because it is centralised and searchable.
- Your business encounters cash flow issues even though revenue is decent, if not optimal
Cash flow issues are sometimes characteristic not of low revenue but of poor planning and poor management of financial resources.
Get your cash flow act together with sales invoicing software. Toggle with your dashboard so that on any day you have an at-a-glance view of when payments are due from clients and to suppliers. https://www.thryv.com/
Minimized invoice delays will additionally help with fixing this issue.