In the early stages of your business, you’ll find it easy to manually manage invoicing. But as you start to scale, ways that used to be enough in the past will no longer be practical in the long run.
The problem with manual invoice processing is that it can lead to issues like delayed payments, missing invoices, and above all, it leaves room for frauds.
How can you better manage your invoices and eliminate errors?
The implementation of salesforce automation helps companies better process their invoices and efficiently store them in one safe place.
In this article, we’ll look at the impact of automation on improving invoice management and how it stacks up against manual invoice processing.
Manual vs Automated Invoicing
When you first start your business, paperwork can be enough to process invoices. However, it would be inefficient to continue handling everything manually.
Manual invoicing refers to using a word processor or spreadsheet templates to create an invoice from scratch. You need to manually fill out fields in these templates and then you can share them with customers via email.
Manual invoicing means to edit fields, create paper invoices from scratch, keep physical copies of your invoices in the filing system, etc., which makes it an unreliable and time-consuming process with great chances of duplication and errors.
On the flip side, automated invoicing helps companies keep track of sales and receivables with real-time reports and automatically generate invoices.
On top of that, you can store automated invoices in a unified and highly secure place, which eliminates duplications and errors resulting from the manual archiving.
With automated invoicing, you will only need to upload your logo, name, address, and contact information only once and then your software will automatically generate them in all future invoices.
Key Differences Between Manual & Automated Invoicing
To explain this further, in the following are the key differences between automated and manual invoicing:
- When invoicing your customers, you will need to input information manually, including invoice numbers, your company’s logo, calculating taxes and amounts.
- To keep track of your invoices, you will need to retrieve and collate data from previous invoices and create reports manually using spreadsheets and word processors. If you have ever followed manual reporting, you must be knowing that it’s a time-consuming and exhausting method.
- Having things done manually means you can set your own roles; no recurring invoices or reminders can be set when you’re dealing with paper and static spreadsheets.
- If you’re still using manual invoicing, then you know better how troubling it is to store all the documents you have on your device or an external Hard drive. Expectedly, there are chances of losing important data and files due to manual errors and faulty hard drives.
- Sharing documents with other team members can be a tedious task, since you’ll need to send them via email or upload them into cloud storage manually.
- Automated invoicing takes the heavy burden off your shoulders by automating all the repeated information and automatically generates the invoice details.
- You can make important business decisions by generating real-time reports on payments received, invoices, and any other receivables. Using the power of automation, businesses can rest assured that their employees can access invoices from any authorized device, and there is no need to look into a static and boring filing system.
- You can optimize your automation solution to set reminders, recurring invoices, and a wide variety of templates for invoicing.
- Documents and important data are stored in the cloud, which eliminates errors and data loss possibility. Furthermore, automation enables companies to create backups to retrieve it whenever needed.
- Automation makes it easy to track invoices/documents, share them with other team members, and allow certain employees to access a unified platform where they can easily view, edit, and print digital invoices.
Shortly answered, yes! We can’t claim that salesforce automation is a dedicated solution for invoicing only.
But as a part of its multiple uses, invoicing comes as one of the most vital features that companies look for in a salesforce automation system.
Simply put, salesforce automation is a complete solution that helps companies thrive by automating the repetitive tasks and allowing room for creativity and enhancement.
For example, when you employ a salesforce automation system, you can automatically generate reports, accept payments, set up recurring invoices, import data from multiple resources, and much more.
At Repzo, we use automation to help businesses focus on what matters, we offer fully-featured sales and field force automation solutions, with an incredible platform and under-friendly mobile application.
Speaking of invoicing, Repzo stores your invoices in the AWS cloud and helps you keep track of their history by offering real-time reports and analytics.
Our solution integrates with the top-leading applications and services, which means you can retrieve data from any resource you might think of.
To conclude, for those who have just started their businesses, manual invoicing can be enough to get the work done.
However, if the reasons are to save money or to keep things less complicated, they should think twice; manual invoicing costs companies their valuable time and a lot of effort.
And even though Automation is a new player in technology, according to many companies it is a game changer that has brought ease and reliability to a lot of industries so far.