Is your staffing company’s invoicing team getting bogged down due to the enormity of complex procedures in billing requirements? If yes, then automating the billing process can greatly help your team to improve productivity and reduce errors in invoices up to 100%.
Importance of Automating Invoicing
If you are an IT staffing business owner, we don’t have to educate you on the importance of sending your customers a crystal-clear invoice that is easy to understand, has all the factual information in place and is compliant with tax rates. When your invoice is in error or your invoice preparer has forgotten to include factual information such as consultant worksheet data or apply proper tax rates, it opens the floodgates for disputes and accusations flying in both directions.
When customers refuse to pay, the first casualty is your cash flow. You will run short of cash to pay for essential services, your consultants onboard or subcontractors who form the frontline warriors of your revenue stream. Streamlined cash flow is often synonymous with high profits.
Expert Opinion on Automating Invoicing
Accounts and financial experts say that invoicing automation software solutions can reduce incidences of errors in bills and compliance related issues. Errors in billing can most often be traced to tired overworked invoice preparers.
Repeating a similar kind of work again and again leads to lethargy and forgetfulness and these shows in the invoices that preparers deliver. Experts say that, dedicated software solutions especially designed for the IT staffing industry is the best way to save time, reduce errors and improve cash flow.
About Dedicated Invoicing Software
With scores of software companies claiming to be experts in accounting automation and offering their ware, choosing the right invoicing software can be a little difficult. Not even the best known name in accounting software in the USA has staffing company specific invoicing features. However, you can choose add-on software to your existing account software, but ensure that it has been specifically made for automating IT staffing billing operations.
Developing independent invoicing software for staffing company is not a practical solution considering the cost and time it takes to make it fully operational. A good option that IT staffing companies can consider is subscribing to a cloud-based SaaS (software as a service). The advantage of SaaS is its scalable, platform independent and mostly compatible with the most popular accounting software.
Don’t Procrastinate
Avoid procrastinating on the invoicing automation front, especially at a time when businesses are under great pressure to adopt lean management practices.
Role of Invoice Process Automation in IT Staffing Business
Role of Invoice Process Automation in IT Staffing Business Invoicing, or billing as some call it is an important process in any business because it produces the document that establishes how much money the customer owes the vendor. It is expected to clearly state the service rendered or the product shipped, unit cost, quantity, tax payable and the total amount the customer/client is obliged to pay. This is the case of a simple bill/invoice. There are however complex invoices with more details that require extensive inputs to produce an invoice that is perfect and acceptable to the receiver for processing payment.
3 Features to look for in Staffing Company Accounting Software Solutions
If you are in the IT staffing business and searching the marketplace for software that addresses invoicing issues related to the staffing industry, chances are you are being bombarded with tons of hard-sell talks that have already left you confused.
