From the old pen and paper approach to digital invoicing, the invoicing process has come a long way. With both ways being employed today it is critical that you guarantee that the invoices are clear and straightforward for your customers to see. There are numerous reasons why it is critical to ensure a transparent invoicing process.
In this blog, we will cover why having a clear invoice is vital when running a field service business.
The first reason is transparency, being transparent with your customers will go a long way for not only the business but also for building customer relationships. Customers tend to want to do business with service providers that have fair and transparent services. In the field service industry, many companies still adopt a pen and paper approach, this approach can make customers uncomfortable at times as there are chances for hidden markups and unnecessary upcharges that they are not aware of. By providing a more transparent invoicing process, customers will be more comfortable when it comes to paying and continuing to do business. Again at the end of the day, customers tend to remember the experience of the purchase rather than the product.
Without a clear and understandable invoice, payments will most likely be made on a later date resulting in longer and unwanted waiting times. According to Sharespace, on average 61% of late payments are due because of incorrect invoicing, this can be detrimental in the long run if nothing is done. With that being said investing in a digital invoicing feature will be a way to ensure invoices are correctly done as all information will be organized in a visible manner. Providing a digital invoice will allow the company to help reduce the chances of the customer losing or misplacing their invoices, as all digital invoices are shared with the customer directly and immediately.
Having a clear invoicing process will reduce the number of mistakes made during this process. With that being said, offering a clear invoicing process will not only ensure that all customer details are correct but will also guarantee that all numbers and markups are made correctly and accurately. With your company working hard to provide a positive customer experience, it is only right you get compensated the correct amount. Lastly, having a clear invoicing process will only be seen as a benefit in the long run as companies will always be able to go back to it and review it if needed at ease. If this process is unclear and manual, stakeholders and decision-makers will have a hard time locating and analyzing these invoices.
At ServiceEcho, we know how important it is to have a clear invoicing process which is why we spent an abundance of time updating our invoicing feature so that it can be clear and concise for all business owners. To learn more about our invoicing feature and other features in our solution, be sure to book a demo and speak to an expert.