The more complex your invoicing processes become, the more there is standing between your latest closed deal and cash in your bank account.

Billing and collections can grow complicated quickly with order management, subscription billing, taxes and reporting all adding complexity to your invoicing process.

Most companies handle these processes with cumbersome financial platforms that are often disconnected from their CRM, quoting, and proposal systems where the original orders are actually defined and created. This leads to manual data entry which creates unnecessary steps in the invoicing process, wasting time and allowing room for error.

Ready to shrink the middleman? Here’s where your invoicing process can be simplified:

1) Generating the Invoice

Generating an invoice can require the use of complex terms and schedules. Invoices may also need to be configured differently depending on the type and length of the billing cycle. Simplifying the first step of the invoicing process gives you instant reconciliation of invoices for increased visibility as well as notifications of failed or missing invoices.

2) Incoming Payments

How do you currently manage partial payments, payments in different currencies, and single payments that need to be allocated against multiple invoices? Customers can miss payments or even overpay and checks can bounce. Disputes and refunds are a nightmare to manage if you don’t have the tools to handle them properly. Simplification comes from automating incoming payments to quickly guide your team through the process of dealing with nonconforming payments.

3) Payment Methods

You need to be able to accept payment from your customers in different ways; credit card, check, or wire transfer. Maintaining expiration dates and payment method data is critical to automating collections. Automation can quickly kick off email reminders (and upsell offers) weeks or months before cards expire.

4) Reporting and Taxes

Reporting and taxes are top of mind for any financial manager. Complications in this part of the process will place stress on your Finance Department and add to resource constraints. Global customers add another layer of complexity with different currencies and VAT. An invoicing automation tool will generate reports, handle taxation for you, and allow less finance resources to get more work done.

Don’t let your invoicing process come between closed deals and cash.

Simplify with automation that generates accurate invoices by taking the quote information that customers have already accepted. No redundant data entry, no complex system integrations. Automation allows you to define your rules and the parameters of your orders (subscriptions, billing schemes, renewals, etc.) one time, creating a repeatable process that is fast and accurate every time after.

Want to learn more? Check out a demo of our billing solution.