July 17, 2020
Walking a fine line between your debtors and creditors is certainly tough. But why make it tougher on yourself by handling invoicing complications too? This article aims to highlight how you can save time; money and credibility by letting a bit of the burden go. After all, as every successful entrepreneur knows – business isn’t about you doing all those tasks yourself. The right delegation a key ingredient to turning up with a success so why not think upon those lines when it comes to invoicing processing?
Fundamentally when you are working upon scaling your business you are handling the increasing workload. This means you’ll probably be in the receiving end of more invoicing related work. And the tough thing is that invoicing at best is an unhurried task. It needs to be done carefully so that things remain accurate. After all, no one likes to receive incorrect billing. That is the number one reason why clients think of a change of provider as it causes a breach of trust. So, when doing sales invoice processing outsourcing what are the six tasks that you can get off your mind? Here’s the big six:
This can never be put anywhere else but first. Wouldn’t it be nice to continue as Chief Executing Officer or CEO instead of Chief Bookkeeper Office by actually devoting your time to factors that will propel the scaling of your business? When it comes to invoicing accuracy is a prime factor as discussed above. Therefore, instead of spending your time and breaking your head over tallying the accounts – get someone to invest their time and expertise at a fractionally lower cost to yourself.
It is hard to keep tabs on changes or pending amounts over an extended period. In most cases, your client is hardly going to appreciate wrong collection calls or questions from your side to tally your invoice records. That is why most small businesses outsource invoice processing as monetary transactions are a delicate issue.
Sending an invoice made for X to Z is something no one wants to end up with. However, many small business owners find this to be an error that is the second most frequent post the accuracy issues. Why? Because as a business owner you might be hard-pressed on time and haste makes waste of carefully laid plans. But with GDPR in place privacy issues are paramount and so not only are such mistakes heavy on the business image but they also won’t post a pretty picture on your data protection seriousness.
Marketing and representation can be integral but what is its link to sales invoice processing? Credibility and marketing as something as small as a business logo go far.
Keeping a track of invoice generation is no easy thing as your business expands. Thus, so that you don’t spend too much time sorting and maintaining things related to invoicing on that computer screen but delegate it to someone proficient who can do it for you! If in case you need to locate old invoices rather than sourcing through hardcopies it would be faster (and more legible to the eye and space handy to boot) to deal in softcopies – especially when someone is locating the right information for you. Therefore, when you outsource invoice processing it is not just the processing that is taken care of but queries too. And queries take time.
Data is in this modern world more than just data. It gives you actual information. You can find out which clients are assets to your business and where you can push to make things better. So, it is time to take things to the next level.
Thus, it makes sense to entrust the sales invoice accounting to the experts so that you have time to do what you do best – focus on your business! Thus, if you want something safe on the mind and pocket, think of outsourcing as that’s the best solution out of this dilemma as acknowledged by other small business holders as well.