How Invoice Management Software Can Benefit Your Business

Any bookkeeper can tell you that keeping things organized in an office can be a challenge. The weekly and monthly routine tasks can seem endless when a system is not working in a streamlined way. Many firms rely on using computer accounting software to organize certain aspects of their daily business to make things easier. Invoicing and other accounts payable tasks can take up a lot of time, but with an invoice management software system you can have your entire system working at maximum efficiency.

Old-school methods and hand coding are things of the past. Depending on the size of your business, just these steps can take up a considerable amount of time — not to mention the endless manual entry and filing that payables require. Mistakes can be made, files can be lost or misplaced, and gathering information for reporting can be a chore when you are using a manual system.

Investing in an invoice management system can keep your employees and your customers happy and on target. Having your invoicing directly compatible with your current accounting system can not only save you time, but can enhance communication between your business and your suppliers. Being able to stay up to date on your accounts is just one of the advantages these systems can provide. Take a look at just some of the benefits of working with this type of system at your disposal.

It’s Paperless

  • Become part of the growing list of companies that are trying to be environmentally responsible by limiting your office paper use.
  • Paper invoices are easily lost, damaged or unreadable because of use.
  • No more endless digging into the file cabinet for something that was put in the wrong place.

Get Organized

  • Save time and effort on manually entering individual invoices into your system.
  • Keep your workplace organized by being able to get rid of endless file folders for each vendor.
  • Your entries will be directed to the proper account.
  • You will be able to integrate the invoice management software to your existing accounting system.
  • Allow your vendors to submit their invoices electronically to ensure timely processing.
  • You can set up 24/7 access outside of the office environment.
  • Proper software can minimize entry errors and billing disputes.

Make Accounting Simpler

  • Have all of your accounts instantly updated with the most current balances.
  • All invoices will be automatically coded to the correct accounts.
  • You can auto-assign invoices to the appropriate departments for fast approval.
  • Approval can be given electronically quickly.
  • Use existing reports or customize new reports to meet your needs.
  • Make the auditing process run smoother.

Imagine having your payables department run like a well-oiled machine. Take advantage of the time saved to further develop excellent business relationships and concentrate on other pressing issues. Having all the most current invoicing information with the click of the mouse could be a game changer for many businesses.

StarterPad Staff

One of the lovely StarterPad staff members has toiled away into the wee hours of the night to write this amazing piece of literature :)