The initial push back against using technology in accounting is that it will eliminate many of the positions that exist and replace people. Although accounting technology can eliminate tasks, it is simply a tool to help those doing their job. It allows accountants and accounting professionals to get more done with less time. Invoice software can take a lot of weight and stress off of those making financial decisions for a company. In fact, so much time is saved by automating accounts receivable functions that, as an accounting team member, your job will become more valuable because you have the time to give insight on important financial decisions.
If you’re still not swayed by the benefits of invoice software, here are three reasons you should embrace the technology.
An automated workflow frees up a lot of important time that could be spent making phone calls to the late payers. You can set up your workflow on the invoice software to send out new customer emails, new invoice alerts to customers, reminder emails and past due notices. Since you have the time to give service like this to your customers, they will appreciate doing business with your more.
With invoice software, it becomes almost impossible to miss an important task that needs to be done. You can receive alerts in your email about past due accounts, customer communications, customer messages, pending online payments and projected cash receipts. To create transparency and insight in your accounting and collections department, reports can be emailed including a link taking you directly to the data in the system.
Waiting to receive checks in the mail is an outdated way to get paid. Most customers, in fact, would prefer to have the opportunity to pay online. Invoice software can automatically send emails to customers with a link taking them to their online statement where they can pay using ACH or credit card. This also means that you will get paid faster.
Waiting to get paid by using spreadsheets, paper checks and pen and paper simply doesn’t make sense anymore with the accounting technology that exists. Invoice software can free up crucial time, giving your business more insight and getting your company paid faster.