Managing your invoices can get hectic, let alone if your company is growing and the number of inward and outward invoices flowing in your day-to-day transactions just keeps getting bigger. So, what to do? Call it quits? Of course not!
Today, we come to you with good news to tell you that you no longer have to tolerate such pain! We briefly share some of the common issues encountered in invoice management generally and how to prevent such issues from happening by utilizing an e-invoicing system to manage the whole process.
Let’s get started!
1- Higher Operational Cost
Operational costs for organizations tend to be higher if they rely on the human factor to manage all processes from A to Z. Well, this is only normal as adopting such ways of doing business means using more manual processes than automated ones.
Thus, it leads to an increasing need for the number of helping hands required to get organizational tasks done in a timely manner. Aside from that, the organization is also burdened with additional resources that require higher budgets.
Over time, this will decrease the efficiency of carrying out the essential tasks and cost you time that could be invested in tackling more important tasks. However, e-invoicing systems like the one we offer at InvoiceQ replace redundant manual processes with a fully automated system that enables users to eliminate the need for manual operations. Thus, cutting costs and increasing the number of manhours saved.
2- Data Loss
Losing data can be effortlessly achieved if your goal is for the data to go missing. But, well, we sort of believe this isn’t your goal. However, using traditional invoicing methods that rely on paper or digital versions is not accurate and 9 out of 10 times means you’ll end up losing your precious data.
This can be attributed to the fact that these invoices are not trackable and don’t have a solid database where all invoices and clients’ related details are registered. That said, in e-invoicing systems like the InvoiceQ system, things like missing invoices or data loss are impossible to happen. Why?
Our centralized system comes with a solid database that enables you not only to include all future invoices but also to upload any previous data you had before integrating InvoiceQ with your internal system.
3- Error, Errors, And More Errors…
Is what you’re getting yourself into if you keep relying on solutions that have no clear organizational tools. Traditional methods tend to lack such aspects in work leading to inaccurate numbers, data mismatches, and unclear delegation of roles which in turn means unclear identification of who’s doing what and determining the source of errors and bugs to fix it.
But – we know you’re already tired of this- in e-invoicing systems these issues won’t happen because these systems allow users to have amazing features to delegate user roles, permissions, and access. Therefore, know who’s assigned to what and track the cause of the error once it happens instead of guessing it.
And in the InvoiceQ system things get better thanks to the advanced features we empower users with. This includes detailed reports, an interactive dashboard, and advanced user management that allows you to delegate according to the main level and sub-levels not found elsewhere. As we understand, while some love having the whole cake, others prefer cutting it down into smaller pieces to enjoy it and there is no harm in that!