When you first start a business, you don’t likely have an organized, consistent invoicing process in place. Chances are that instead of a regular process, you send invoices when you think of it, when you have a few minutes, when a client requests one, or when you need the money.
But as your business grows, it becomes increasingly important to develop a consistent, regular, and predictable invoicing process, both for the benefit of your business and for the people that you provide with services.
Six Advantages to Establishing a Regular Invoicing Process
There might not be anything glaringly wrong with your current invoicing process, but there are measurable advantages to establishing a consistent system. Let’s look at the six biggest reasons you should streamline your invoicing system:
- Customer satisfaction. While, they might not necessarily like receiving a bill, your clients and customers do like receiving regular information about what they’ve purchased and how much they owe. They also like having the regular opportunity to pay their bills–no one likes getting a large invoice for a backlog of months of services (and some clients may not be able to pay all at once).
- Accuracy. Choosing a daily, bi-weekly or monthly invoicing schedule can greatly increase the accuracy of your invoicing. Letting bills sit, or sending them at odd times, can led to a significant amount of work going unbilled as well as double-billing customers.
- Cash flow. It’s no surprise that invoicing your clients and customers regularly leads to getting paid more regularly. Customers are more likely to pay smaller bills. Customers are also more likely to pay when they are anticipating a bill. Invoicing predictably means getting a more predictable cash flow, which can help you pay your own bills, meet your payroll, and grow your business.
- Record organization. Keeping track of your invoices is much easier when you send them all at once on certain days. This not only helps you when a customer has a question about a payment or services, but also when it comes to your bookkeeping, records, and taxes.
- Efficiency. Sending invoices whenever you have a free moment takes more time than sending all of your invoices at once during a set timeframe. In addition, having a specific system in place for your invoicing cuts down on time even more. At the same time, completing your invoices in batches reduces errors, increasing efficiency even further.
- Professionalism. Regular invoicing adds an overall professionalism to your business. Having a consistent process and system reduces errors, saves time, saves money, and adds organization to your business.
Streamlining Your Invoicing Process With Towne Mailer
At Towne Mailer, we assist hundreds of businesses with streamlining their invoicing process, from helping them create branded invoicing andor statements templates to helping them print, process, and mail their invoices and statements daily, weekly or monthly. We also make certain that your clients and customers receive their invoices or bills quickly and regularly, helping you get paid.