Invoice Processing Problems and Solutions - PowerPoint PPT Presentation

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Invoice Processing Problems and Solutions

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Most of the businesses face problems related to invoices that are long overdue. Many a times, invoices fall into unending disputes and since the resolution gets delayed, the payments too suffer. So, how do these problems arise in the first place and what is their solution. – PowerPoint PPT presentation

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Title: Invoice Processing Problems and Solutions


1
Invoice Processing Problems and Solutions
2
Erroneous Invoices
  • Many businesses keep sending invoices that have
    got small little errors that make a big
    difference to the overall invoicing process.
  • Some times the number of hours added to the
    project bill are inaccurate and the whole bill
    amount goes for a toss.
  • Having an online invoice software that
    automatically gives you a calculation of the bill
    amount and provides a detailed structure of
    entering all the details, helps in avoiding all
    such problems.

3
Unprofessional Invoicing
  • Most business owners are too busy in providing
    and improving their core offering and often
    forget to take the invoicing process, too
    seriously. Sending out invoices in a word doc or
    an excel sheet without important details like
    company address, terms and conditions etc. makes
    the invoice look seriously unprofessional.
  • Choosing an invoicing solution that provides a
    professional invoice template with an option to
    add your company address and logo is essential.
    Adding an invoice number to this template, every
    time an invoice is being sent out is very
    important too.

4
Invoice Management Issues
  • You may have a large number of invoices that need
    to be sent and managing these has become a big
    problem. The first thing to do is to get rid of
    any form of paper based invoicing. This not only
    costs more money and resources but also hampers
    the productivity of the system.
  • An online invoicing solution helps in providing
    access from anytime anywhere, for tracking all
    the sent invoices with ease. A solution like this
    provides a single dashboard to track the status
    of each and every invoice and take necessary
    action.

5
Slow Invoice Processing
  • Many invoices fail to reach the client on time
    and so the payments get delayed as well. A
    mechanism should be created for e-mailing
    invoices to each client on time. A suitable
    invoicing solution also provides the feature of
    scheduling the invoices so that they can be sent
    on time.
  • Another useful feature that helps in expediting
    payments is to provide online payment option on
    the invoice itself. Once the client receives the
    invoice in his inbox he should get the payment
    option on the invoice so he can make instant
    payment through a payment gateway of his choice.
    This makes it simpler for the client to pay up
    and ensure that the payment is not delayed.

6
Delayed Payments
  • Another very common problem that businesses face
    is delayed payments. Using features like
    automatic payment reminders and late fee help in
    ensuring that the client pays up on time.
  • A late fee helps is a fixed amount or a
    percentage of the bill amount added to the
    invoice once it gets overdue. Penalizing a late
    paying client helps in reducing the occurrences
    of late payment. Similarly automatic payment
    reminders are a useful way to save time that is
    otherwise spent on following up for payments.

7
Choose The Right Online Invoice Software
  • Invoicera provides bespoke online invoicing
    solutions for small and large enterprises. Large
    businesses looking to make their business
    invoicing process more productive must choose
    Invoicera. Invoicera helps with self hosted
    solutions as well and helps with CRM, ERP and
    other similar large integration projects that
    help in completely automating the invoicing and
    payments process.

8
Get In Touch
  • Web www.invoicera.com
  • Social
  • www.facebook.com/Invoicera
  • www.twitter.com/invoicera
  • https//www.linkedin.com/company/invoicera-invoici
    ng-simplified
  • E-Mail marketing_at_invoicera.com
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