While invoicing is essential to running your business, it can also be tedious and time-consuming. If the invoicing process is being carried out manually, there is a big chance of fraud or a human mistake that can cost you a lot of money. Hence, invoice automation could be the time-saving solution you’ve been searching for.
If you are running a logistics business, cloud-based delivery management software like InstaDispatch, OnTime360, and ShipTrack App have built-in billing and invoicing systems. This software saves time and helps you avoid mistakes and build better relationships with your customers. Below, we will discuss some ways through which automation can save you time in invoicing.
Improving accuracy
Errors in invoicing can lead to delayed payments, unsatisfied customers, and increased compensation costs for your business. Through invoice automation, you can eliminate these errors and ensure quick processing of your invoices by removing the human element from their processing. The software also allows auto-verification of invoices. This prevents fraud by alerting you of all the financing discrepancies in your data.
No Data Entry Work
In manual invoicing, entering the data into the accounting system is the most time-consuming part. Also, it can be prone to errors considering that a human is manually typing the data. Invoice automation can eliminate the need for data entry and generate auto invoices. It can also help you get rid of all the paperwork, thus saving you stationery expenses in the workplace.
One Central System
If your company deals with complex supply chains, you will receive a high volume of invoices. Tracking, processing, and storing these invoices can be a daunting task. With invoice automation, you can keep better track of your finances, considering that all the invoices are stored in one central system.
The courier management software can provide you with valuable information about how money flows in and out of your business. Since the software is integrated with cloud-storage-based services, you can access and update your financial data from multiple devices whenever possible.
Set up reminders
By setting up payment reminders, the invoicing software will help you chase down late payments, thus streamlining your billing process. It can send customized invoices through different communication channels, including email and text messages. You can also set payment reminders for yourself. Once you fill in the payment time and invoice details, you can forget about it. The software will take care of the rest.
Conclusion
Invoice automation is vital to your logistics business. It can help ramp up the company’s performance by eliminating human errors and saving time. It helps reduce errors and save time by capturing, processing, and tracking your invoices. Luckily, it is not difficult to integrate into your business.
InstaDispatch’s Invoice management solution enhances invoicing by generating instant credit notes on invoice cancellation, creating invoice filters, and splitting domestic and international VAT calculations. Once the system is set up, you can rest assured that your invoices will be error-free and processed timely.
