Do you still invoice customers manually? It doesn’t get much worse then sitting down and individually filling out invoices for your customers, it’s time consuming and often leads to mistakes. Although you may be hesitant to change your processes, transitioning your manual invoicing process to electronic will offer your business immediate benefits.
Here’s why your business needs electronic invoicing.
What is electronic invoicing?
Electronic invoicing is a digital invoice that is issued, received, and processed electronically. To put it simply an electronic invoice is an online version of your traditional written or paper invoices but instead of being handed or mailed to the customer it is sent digitally.
All information that is included on your traditional invoice is included on the electronic version. The main purpose of electronic invoicing is they can be sent automatically through email or any other online medium for faster and easier delivery.
1. Saves time
Transitioning your manual invoicing process to electronic removes all the manual labour and administration tasks. Electronic invoicing completely automates the invoicing process between your company and the customer. At a time of purchase invoices are sent and received from your accounting software to your customer’s software – offering a fast and reliable solution. This ultimately removes the long and repetitive manual invoicing process that takes up hours every week.
2. Reduces mistakes
When invoicing manually mistakes are often made which could take hours to fix or even cost your business money. As electronic invoicing is completely automated, the order that has been requested by your customer is automatically assigned to an invoice and sent through instantly.
Standard invoice information such as the list of purchased products, pricing, payment methods etc are pre-filled without the need of manual data entry. This significantly reduces the risk of simple errors that are commonly made with manual processes.
3. Get paid faster
According to Small Business Australia.com, the average manual or paper invoice processing time is 23 days. When using electronic invoicing this time is slashed to 5 days, which means you will get paid faster. The key benefit of electronic invoicing is takes less effort for your customer to pay the invoice then a manual paper invoice.
4. Easier to manage
As everything is managed electronically it is so much easer for your business to manage. All files are organised and stored accurately in your accounting software giving you complete access to locate if ever required. All invoices are saved and backed up on cloud storage technology meaning you will never need to worry about misplacing or losing an invoice again.
5. Easier for your customers
Customers want the fastest and easiest process for everything. It is so much easier for your customer to automatically receive an electronic invoice of their purchase in their email address rather then a paper copy. Paper invoice can often break or be lost, with an electronic you’re your customers can easily link to their electronic software and pay seamlessly.
6. Integrates with your business management system and accounting system
A key advantage of electronic invoicing is that it integrates with both your business management system and your accounting software. This means when someone purchases something from you, your stock levels, orders, receipts, and invoice information are automatically synced and updated accordingly. This is so important for your business as you will no longer have to enter data to multiple systems and all data will be correct and accurate.
Where EasyVend can help?
EasyVend offers Food and Beverage businesses with an all in one, simplified business management software designed to reduce your administration time and streamline your business.
EasyVend completely automates your everyday tasks such as stock control, receipting, electronic invoicing, dockets, orders and so much more. EasyVend also integrates to popular accounting software giving you an all-in-one location for your entire business.
It’s never been so easy to get started, call us today on 1300 473 744 or submit the firm below for a FREE no-obligation demo of EasyVend.