Bid Adieu to Invoice Delays & Say Hello to Astute Transactions
Since we are living in the era of “one-click order and same-day delivery,” invoice clearance becomes quintessential. But if you stubbornly hold onto paper invoicing processes, printing out bills and sending it to customers by post, then nothing can help you out.
On the other hand, if you are ready to take advantage of technology, more significant opportunities are waiting for you that accelerates your invoice approval and payment process. Here, in this blog post, we are going to talk about what solution MSB Docs holds for handling invoices that let you say goodbye to delays and hello to fast transactions.
MSB Docs smart document solution transforms the paper-based and manual invoicing processes to paperless invoicing. Going paperless with MSB Docs will not only let you avoid late payments and get paid on time but also offers numerous benefits. Let’s go through them one by one:
- Simplified Processes:
As every administrative and accounts team already has a lot on their plate, paper-based invoicing introduces more complexity. MSB Docs offers easy to use platform where the users can take this process digitally. Using the MSB Docs platform, one can easily prepare invoices, create workflows, send invoices for review and approval, track status, and store data with anytime any device accessibility.
- Reduced Costs:
The manual and paper-based invoicing process adds unwanted costs and seriously erodes profit margins. Whereas going paperless with MSB Docs is an only one-time investment in technology that too, is less than what the traditional way holds. It has been found by GXS that electronic invoicing reduces costs by as much as 60%. You get more out of your investment when you experience higher levels of personalization with MSB Docs.
- Achieve Clear Visibility
As MSB Docs offers cloud storage with smart categorization, one can easily have clear visibility of invoice data as compared to physically stored paper documents. Smart categorization lets you categorize your documents stored on the cloud in a way that is easy to access. This ensures you have a track record of invoices generated and further helps you categorize it based on paid and pending ones.
- Real-time Access to the Status
Out of generating invoices, taking approvals, and receiving payments, the approval process is the most time-consuming process when it is being done manually as there’s no way out to track its status. MSB Docs offers greater efficiency that lets you keep track of each invoice that is transacted with a defined workflow and accelerates the purchase-to-payment cycle.
- Minimize Errors & Risks
Opening a stack of mail, sorting invoices, reviewing, and verifying against POs (purchase orders) are labor-intensive manual components of the invoicing process. No doubt, these are the most important steps but are more prone to errors too, if done manually. MSB Docs lets you digitize them and get things going with a couple of clicks and that too with higher accuracy rates. This also eliminates the risks of generating wrong invoices and getting inaccurate payments.
- Increase Security & Compliance
With the increase in your clientele, the need to manage large volumes of invoices also increases that makes it difficult for your organization to ensure compliance and control risk. With that in mind, MSB Docs allows its users to customize their workflows so that they can be tailored to help them maintain security and compliance and even reduce fraud.
- Keep Everyone Happy
When complex manually dependent invoice processes are simplified, your team will start experiencing speed and efficiency in the process. This will not only let them focus on high-level initiatives but also keep them happy at work. On the other hand, timely and error-free invoices when delivered to clients, they also feel delighted while planning for releasing payments on-time.
Hopefully, the above points must have encouraged you to go paperless with your invoicing process. So, what are you waiting for? Get in touch with us and start sending invoices with total precision and least chances of clerical errors, delays, and lost invoices. Best of luck!