Almost every business is looking at digital transformation, either with on-premise installations or movement into the cloud. Existing solutions for invoice management are clunky, outdated, and don’t take into account the challenges that a 21st century company faces. Yet, without proper invoice management, a business could potentially run into trouble.
As a business grows, its invoicing needs expand as well. Where, in the past, a company might be able to survive with paper-based invoicing, the movement into the digital space makes these solutions obsolete. The way to approach the situation is by looking at the best online invoice management software that your business can afford. Invoice management brings with it several unique benefits, including:
- Businesses can develop complete online payment solutions, removing the need for traditional payments. There’s no longer a need for paper-based receipts.
- Revenue tracking can be done directly from the dashboard. Numbers are automatically updated as soon as sales are finalized.
- The online-first paradigm removes the dependence on offline methods of expense tracking, sales recording, and payments.
- Due dates can be assigned and updated with the click of a button. You can even add extensions to due dates if a secondary agreement is required
- You can even customize proposals to showcase your amazing work to your customers.
- The accounts payable portion of the invoice management solutions should offer you the choice of collecting partial payment upfront or have a system for delineating milestones, with payment made after each achievement.
- The system should generate and send reminders automatically. This innovation saves the hassle of poring over records to verify who has paid the company and who hasn’t. It’s also less prone to errors, making the business present a more professional front to clients.
What Makes for an Excellent Invoice Management Software Solution?
Arista has been investigating the core elements of an ideal invoice management system carefully. Among the crucial aspects we discovered the most successful invoice management software systems had in common were:
- Scalability: The invoice solution should not limit the size of the business,
but grow alongside it.
- Fully Configurable: Account management is different in each enterprise, and the software must be flexible enough to adapt to different paradigms.
- Mobile-enabled: Useful in any digital device, allowing the business to move forward confidently with their digital transition without worrying about compatibility.
- Smart Solutions: With a focus on connected products, the ideal invoice management system can operate alongside various intelligent devices.
Dispense With the Paper
Businesses have evolved significantly in several areas, but one that lags behind consistently is invoice management. Accounting departments usually have papers covering every surface. Aside from being unsightly, it’s also a nightmare to keep track of details. Get rid of the paper entirely by investing in a complete invoice management system that can handle accounts payable and help strengthen the relationship your business has with its clients.
Arista recommends APXPRESS as the most suitable solution for most small to medium businesses. APXPRESS is flexible, scalable, and fully configurable, helping a business meet its digital transformation goals. Designed to work alongside smart solutions with plug & play application interface, it represents the most effective way for a company to take its accounts department into the 21st century. Are you tired of seeing piles of paper stacked to the ceiling in your accounts department? Contact us today, and let’s help you move your accounts department into the digital age.