Avoid disputes over your invoice base
Posted by Martijn van der Hoeden
Isn’t it time you switched to automated invoicing?
The last thing any supplier wants to do is provide an inaccurate invoice. It can impact profits and reputations. But human error is leading to so many errors that software has been created to fill the consistency gap. Let’s explain more.
All professional services businesses are identical: revenues fuel their ability to deliver the resources necessary to complete projects to customers. So, because human error is causing costly invoice mistakes, we think it’s time to take the humans out of the loop, or at least part of it. To this end, we’re hosting a webinar on invoice automation for project managers and accountants at management consulting, legal, architecture, accounting, software, engineering and IT firms. More about that below.
The most common invoicing mistakes are leaving out details like payment due date, itemized list of services rendered or terms and conditions of the service or payment timeline. Sometimes invoices are not sent out on time, or they're sent to the wrong person or department. At other times they don't include a professional courtesy element in the form of a simple note thanking clients for their business.
Some errors are made around the end of the process: simply not chasing the invoice, or not giving them enough options for payment. Other mistakes are made at the start of the process — some businesses find it too difficult to collect the data or contract information they need to invoice a client.
All this can become very expensive (and messy).
Errors like this can also lead to lengthy disputes between business owner and client, further delaying payment, hindering cashflow and damaging relationships.
Bypassing costly human error
The solution to this problem is software that eliminates any room for error when invoicing clients. Information can be captured at any time and anywhere through mobile time registration. This software is exactly what project managers and project accounting managers need to avoid inaccuracies in invoicing.
Invoice automation allows you to reduce admin time, tighten up cash control and bill with absolute precision, allowing you to execute more profitable projects.
Let’s show you how
Our webinar will cover the invoice part of our Professional Services Automation (PSA) software (which is built on the Dynamics 365 platform and integrates with Office 365 apps). At Unit4, we’re in business for people, so our PSA Suite has been designed for people-centric businesses, such as management consulting, legal, architecture, accounting, software, engineering and IT firms.
Our invoicing automation function was designed, in part, to avoid disputes over invoicing. The upcoming webinar will delve deep into how PSA Suite automates invoicing for accuracy and timely payment, from client to client, day after day, to ensure invoices are error-free, undisputed and paid on time.
Don’t be daunted by digital transformation
If you’re a project manager or project accountant, the upcoming webinar: Accurately invoice to improve your cash flow will answer all your questions about error-free invoicing for your business.
Change can be daunting. But the alternative is sticking with the status quo – a labor-intensive way of gathering client data on spreadsheets which can lead to human error, inaccurate invoicing and both financial and reputational cost. This makes your projects vulnerable and could impact on your service delivery for your clients and their customers.
A date for your diary
Switching to a single software solution like PSA Suite allows you to bill with precision so you can get on with the job of delivering profitable projects.
If you’d like to hear more about how it works, join our webinar on 14th June 2018.