Invoicing is an important step in any line of business, as the process is what generates companies revenue and creates employees their pay. With revenue generation being a paramount process to many companies, it is ideal that they have integrated an efficient invoicing method. Automated invoicing has many benefits when compared to manual invoicing.
In this blog, we will discuss the difference between manual and automated invoicing and why ServiceEcho’s automated invoicing feature is considered to be an effective option for all of your invoicing needs.
With manual invoicing, companies tend to have a higher direct cost, human errors, fraud, and lack of process accountability. According to Levvel’s research, manual invoice processing costs a company an average of up to $15 and has stated that companies with automated invoicing have saved up to 60 – 80% and have agreed that with automatic invoicing the processing cost is now $5. Direct costs are not just the cost for pen and paper, it also includes the storing costs. When manually storing invoices, invoices can get lost or tampered with over time. This can cause a lot of distress over time especially when it is time for financial audits or tax filing. Also invoicing customers manually will clutter your workspace with paper and will cause frustration when trying to work or find a particular invoice. It is important to be able to store and access invoices when needed and that is why having an automated invoicing system is efficient as it allows you to store the invoices digitally in customer files making them easier to access in real-time. Human errors and mistakes are inevitable and are something that companies should be aware of especially when it comes to invoicing. With manual invoicing, technicians and companies can miss calculate numbers or even forget about certain rates. This will essentially cost the company a lot of money and time. Lastly, fraud was something that was prevalent when it came to manual invoicing as companies and technicians were able to alter numbers and charge unformed markups and hidden costs. Customers look to do business with companies that have a quick and transparent invoicing system as they fear being charged any hidden costs. With ServiceEcho’s automated mobile invoicing feature, technicians are able to provide a more transparent quote and invoice in real time on the spot, making customers feel more assured in continuing doing business with you.
With an automated invoicing system field service companies are able to boost profitability as they are able to reduce the amount of time and direct costs spent on manual invoicing. With invoicing mobily, companies are able to speed up the invoicing process and increase the ability to get paid faster. An automated invoicing feature is an essential part of business, especially in the field service industry. With field service technicians always on the move, having a manual invoice process can be frustrating as it is easy to lose track of invoices especially when assigned to many work orders. Manual invoicing is an outdated method that companies are still using to this day because of the fear to learn and adapt to technology. However, with this fear companies are losing out on many opportunities to their competitors who already streamline their invoicing system. By automating your invoicing process, your company will save on monthly operational costs, limit the amount of time and errors made when invoicing, boost morale between employees as a result of doing less tedious paperwork, and will be able to provide more of a transparent billing experience to their customers.
At ServiceEcho, we acknowledge the importance of streamlining manual invoicing as we believe that it is an outdated method that is only distracting your business from working on more revenue generating tasks. With that in mind, there are many advantages of having a mobile automated invoicing system. To learn more about how you can streamline this functionality to your business. Book a Demo today!