Invoicing customers after a product has been sold or a service has been rendered is an important part of the buying cycle. After all, everyone likes to be paid for the work they’ve completed!
Many companies prefer to maintain a personal, hands-on approach when it comes to customer invoicing, sending invoices and reminders to customers manually around their payment due dates. While performing this process manually is perfectly feasible if you have a small company, what happens if your company start to grow and your client lists start to get out of control?
Even with smaller companies, there is always a risk that a human error may be made – an invoice is sent to the wrong individual, no invoice is sent at all, etc. – which is why introducing automation into the invoicing and reminder process is a great idea!
An automated invoicing and reminder solution can be of great benefit to companies, regardless of their size. Here are the top five benefits of implementing a digital invoicing solution.
1. Increased Efficiency
A typical customer invoicing solution includes a set of manual tasks that are completed separately for each customer. Once a customer makes a purchase, or their subscription renewal period is coming up, the company must send them an invoice with the amount that is due. In an ideal scenario, once the customer receives the invoice, they will make a payment, however should they miss the first invoice notification, the company needs to send out one or more reminders, which can get confusing depending on the number that has to be sent out.
An automated invoicing and reminder solution not only automates the sending of the initial invoice, but also automates any reminders that need to be sent to customers who still haven’t made their payment, increasing the overall efficiency within the company and reducing confusion by eliminating all the manual tasks.
2. Multi-channel Communication
When sending invoices manually, companies will generally only ever use one communication method. Often, a single communication method will be enough, but we all know the expression “the more, the merrier,” right?
If you’re only use one communication channel to send out customer invoices, there is always that chance your customers may miss them. An automated invoicing solution allows your company to automatically send out invoices using multiple channels to ensure that your customers receive their invoices on time!
3. Personalized Communications
Automating your company’s invoicing and reminder solution doesn’t mean you have to lose that personal connection with your customers. When storing your customers’ contact information in the automated solution’s online database, the initial invoice message and all subsequent reminders can be automatically personalized based on the information in this database without you having to do any additional work.
4. Secure Information Storage
In a digital invoicing solution, all customer data is stored in a centralized and secure online platform and all message transmission is encrypted. This means you can be sure that all customer information will be stored safely and protected.
5. Provided Reports
In a manual invoicing solution, it can be difficult to know just how well your invoice messages are performing and how many are reaching their intended recipients. It is important that you know whether your messages need to be optimized at all to achieve higher open rates and engagement.
An automated invoicing and reminder solution provides you with auto-generated reports for all of the messages it sends automatically, so you are able to easily analyze these reports to determine how your messages are being received. The reports provide you with key information such as the messages’ open rates, click-through rates, as well as any unsubscribes that may have occurred.
Looking to implement an automated invoicing and reminder solution?
All of these benefits can go a long way to making your invoicing and reminder process more effective. You may be wondering how much work is involved with digitizing the invoicing process and what kind of tools you may need to purchase to make it happen.
SimplyCast has built an automated invoicing and reminder solution that allows you to streamline your current customer invoicing process with automation, helping to strengthen your customer relationships through regular reminders.
Would you like to learn more? Click the button below to request a demo from our knowledgeable team to see how your business can leverage invoice automation today!