Handling invoices from hundreds of vendors and customers is a cumbersome process. Just maintaining excel sheets and updating them regularly may not be enough to keep organized as your business continues to grow. Process-Smart allows you to outsource these types of tasks by taking advantage of our Invoice Processing Services.
Tasks such as tallying internal invoices to ensure they match receipts, tracking due dates of clients upcoming bill payments, and sending reminders to clients who have outstanding invoices with a decided payment cycle can all be handled by the Process-Smart team. Through technological advancements, our professionals are able to provide data tracking and invoice compilation, monitor pending invoices, and work as your accounts receivable department. By relying on Process-Smart for these time consuming tasks, you can focus the energy of your internal staff on higher-value responsibilities throughout your company.
Utilizing Process-Smart for Accounts Receivable
Process-Smart works directly with many landscaping companies to handle their invoice compilations and payment tracking. Our team is fluent in Aspire software, allowing us to integrate fully with your current system. Below is an overview of our Accounts Receivable process:
- After a job is completed in the field, a work ticket is generated. Aspire software is used to estimate the costs associated with the services that were completed.
- A Process-Smart invoicing assistant sends a recommendation to the client detailing the invoice that will be sent to the customer and provides the time frame of the payment cycle.
- Once the client approves of the invoice, the customization is completed and the invoice is sent to the customer for payment.
- After the client receives payment, the invoicing assistant makes sure that it matches the amount of the invoice.
- After the verification, these receipts are recorded as deposits to the bank.
By following the above steps, the Process-Smart team ensures that all accounts receivable are cleared by their due date for our clients.
Typical Difficulties with Invoice Processing
Many businesses face challenges with regard to invoice compilation and payment receipt tracking. Some of the most common are:
- Keeping track of different payment due dates with corresponding customers or vendors
- Sending a second or third reminder to customers or vendors when an invoice isn’t paid on-time
- Miscalculation such as double data entry when handling invoice payments from multiple payment gateways
- Delayed payments from customers due to time constraints in compiling all invoice transactions
These problems have a simple solution – Process-Smart. Our team of professionals are available to help you process invoices efficiently in order to reduce payment delays.
Efficient Invoice Processing with Process-Smart
Let’s look at the top three ways invoicing via Process-Smart benefits your business:
1- No Manual Invoicing
Our job is to make invoice compilation and time tracking seamless for you. We can help you simplify these tasks so that there is no room for mistakes. With our streamlined invoicing process, you do not have to cross-check multiple times. This is because each invoice can have a corresponding cheque or receipt, making it very easy to maintain your records.
2- Increased Visibility of All Invoices
One of the most difficult aspects of invoice processing when it is done manually is the number of receivables and payment receipts which are difficult to keep track of simultaneously. We can help you streamline all invoices in such a way that you get a bird’s eye view of all your transactions.
3- Quick and Easy Reconciliation
Invoice processing services can assist you by reconciling invoices with purchase orders, memos with delivery receipts and more, like identifying duplicate orders and discrepancies.
Invoice Processing tracks each account from its invoicing to the payment stage to ensure there are no backlogs, delays in payments, or fraudulent transactions. This can help the business to reconcile all their bank statements and transactions efficiently without any inconsistency.
Systematic Invoice Processing with Process-Smart
With Process-Smart invoice processing services, we can bundle and send bulk invoices, send auto-reminders of due or past-due payments, provide instant updates of paid invoices, and overall manage all accounts receivables easily. We can make your accounts receivable efforts efficient and straight-forward; contact us today for information on how Process-Smart can work for you.