Technology has brought automation to many business processes, including invoicing. Digital invoicing workflows can help to ensure prompt billing for your customers and predictable cash flow for your business.
The Benefits of Digital Workflows
Digital workflows can streamline your invoicing process by automating data entry and repetitive tasks. As a result, you’ll enjoy:
Increased Productivity –Automating the invoicing process and routing invoices with a single mouse click will drastically reduce the time spent on processing. This can free your team to focus on core business initiatives.
Improved Accuracy – Manual and repetitive tasks are prone to human error. By eliminating them through automation, invoicing accuracy will improve. No more missed billable items, and you can track invoices more easily.
Improved Customer Service – With digital workflows, invoices can be delivered to your customers promptly. You’ll also enjoy faster payment, immediate payment confirmation, and instant access to account status. It might seem like a small thing, but it will result in better customer service.
Enhanced Security – Cybercrime is a growing threat to businesses of all sizes. Digitized documents can be password protected and encrypted throughout the process from creation to delivery. This can keep customer data and company information safe from prying eyes.
More Accurate Record Keeping – Digital documents stored in the cloud are searchable, shareable and accessible from anywhere with an Internet connection, any time you need them. Digitizing your invoicing is much less time consuming than searching through piles of paper documents. Digital documents are archivable and can be recalled with a few mouse clicks.
With all of the steps needed for invoicing: from creation, to payment confirmation, to archiving, automation of this process can offer many benefits including improved productivity, accuracy and streamlined workflows.
Want to learn more? Give one of our team members a call and let us show you all the benefits a digital document management system can offer your finance department.