Bills, Bills, Bills: 4 Tips to Speed up Invoicing
Did your parents give you an allowance as a kid? If so, you probably have fond memories of counting down the days until payday, plotting what to spend your riches on (candy bars and action figures usually rank highly) and perhaps even negotiating a raise, if you were the power-broker type.
Getting paid a weekly salary felt pretty good – who doesn’t like cashing in? You also may have other memories involving your allowance – or lack thereof, if you lost some to a “swear word jar” (#&%@!) or because you didn’t do your chores.
These days, you’re probably making more than a few bucks a week in salary (and hopefully not blowing it all at the candy store), and collecting money for the business via invoices…but sometimes the invoicing process can be a slow one, the quote-to-cash timeframe can drag out, and you end up feeling like you slaved over all your chores but still aren’t getting your full allowance.
And especially with the holidays coming up, you want to make sure you’re getting paid in full and on time – which will let you treat your employees to holiday lunches, bonuses or maybe some extra time off before the end of the year without the business feeling the pinch.
So with that, we give you 4 surefire ways to help speed up your invoicing:
Always invoice for all work completed. This one seems obvious, but it’s really important: Work orders should always be kept completely up to date so that invoices accurately reflect the work completed. Sometimes a customer might add a service to their order at the last minute, or a field tech might upsell an additional service while on site, or the work might take longer than it was projected that it would – whatever happens, make sure to keep job orders up to date.
Automate where you can. Invoices can involve piles of paper and endless data entry, some of it repetitive. If you can figure out ways to automate certain parts of the process, it will save a lot of time and headaches for the office managers and admins who have to deal with these mind-numbing tasks.
Don’t wait to collect. Ideally, field techs should be able to take payments from the field immediately after performing work, allowing the company to close the book on that job instead of waiting to be paid because a paper invoice must be drawn up, printed and mailed. Having a way to collect right away means no waiting for cash.
Go mobile. Using a mobile app solves all of these problems at once. If job orders need to be updated on the fly, inserting the new info can be done from anywhere – from the office, if a dispatcher is the one adding the info, or from the field, if the field tech upsold or if the customer asked for an extra service. Because it’s software, it’s easy to automate certain parts of the invoicing process – for example, it can integrate with commonly used accounting programs, meaning the same information doesn’t need to be entered in multiple programs.
The software makes the whole process an easy one: A few clicks turns a quote into a job, a few more clicks turns the job into an invoice, and a final click closes out the job once payment has been made. Field techs can even take payment right from the field by creating an online invoice and capturing credit card info – meaning the business collects its cash immediately, with no need to wait on paperwork.
Let’s not forget that 2017 is creeping up on us – and you want to kick off the New Year the right way with important business improvements that make getting paid a snap. If you’re ready to find a better way to collect on job orders, get more info here.
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While you’re planning for the holidays, check out how a field service management solution can help your business sail into the New Year the right way.