Your business’s success rests on your invoicing system. If you can’t produce the correct invoice in a timely manner, you’re not going to get paid in a timely manner – if at all.
Is your ERP system flexible and robust enough to do everything you need?
Inventory Based Businesses
When a customer places an order, the order is picked, put in a box and shipped. Now, it’s time to invoice. Don’t rely on someone walking orders from department to department, manually entering the order to print an invoice that someone else then puts in an envelope and mails. These tasks consume your team’s time, increase the likelihood of human error and lengthen the amount of time until you receive payment.
With robust ERP system integration, you can:
- Receive an alert as to what has shipped
- View everything that has shipped in a certain time period
- Quickly invoice for shipped orders
- Create sales receipts
- Automatically charge customers’ credit cards
- Time & Materials Based Businesses
If you’re a professional services company billing time and materials, you need a system that allows you and your employees to enter time against a customer account, project or task. In addition, you need the ability to set parameters. Is that time billable or non-billable? What is the billing rate? Do you need to account for billable mileage? Office supplies? Equipment? Other expense report items? Mark-up on purchases?
This is where a robust cloud ERP system makes your life easier. If information is entered correctly, the next steps happen seamlessly. With the click of a button, the accounting department can review all billable time by project or by customer and then create and send out the invoice.
If your business is project based, you can set customized intervals to bill a customer. If your ERP has an integrated project management module with the ability to assign tasks or set start and end dates, you can associate billing events and milestones within those dates. Since all businesses run differently, you define the billing events and milestones based on what makes sense for your company. Additionally, when a project manager marks the task as complete a bill is automatically generated and sent without having to request an invoice from accounting. Everything is simplified and organized.
Recurring/Subscription Based Businesses
A robust ERP solution can simplify your subscription based business as well. When customers sign up for services with contracts of variable terms, lengths, payment plans and rates, things can get confusing in a hurry. Is a customer renewed automatically? Billed monthly, quarterly or annually? Your system needs to track all of these elements and bill the customer on time for the options they chose. If your robust ERP system has all the contract details, then accounting can easily review this week’s or this month’s contracts that need to be billed.
With the click of a button, invoices are automatically generated and credit cards charged.
Customized, Simplified Invoicing
How quickly can your accounting department see what has shipped? Can they review contracts and milestones within a few clicks of a button? Are they able to convert those to invoices or charge customer credit cards? How well can you handle a customer’s need for different invoicing formats? These types of tasks, which used to require a lot of manual effort, are now easy to accomplish. A robust ERP offers enhanced customer invoice formats based on what an individual customer requires. In addition, you can group invoices and distribute them to a single person or a group of people. That flexibility is critical in today’s business environment.
An Integrated Solution
Automate and simplify your invoicing process from start to finish. Contact goVirtualOffice to learn more about how you and your company can benefit from robust, ERP system integration.