Have you ever worked out how long it takes on average for your sales invoices to be paid? Would it be nice if you could only be paid sooner, and would it help cash flow?
It may be time to look more closely at your processes, and in particular, how you handle paperwork in the business.
There may be room to cut the amount of time it takes from receipt of order to submission of a sales invoice. And if there is, it’s worth doing something about it.
It’s an area that we work on with our clients, helping them put in place systems and processes to help deal with paper in a more efficient way.
And it involves converting paper into electronic documents so they can be moved around the organisation more efficiently.
Purchase orders can be actioned more quickly, delivery notes produced at the touch of a button, and perhaps most importantly, sales invoices can be created and sent via email straight to the accounts department of your customer.
And the sooner an invoice arrives with your customer, the sooner it will be paid.
Converting paper into electronic documents
So, what technology do you need?
- A dedicated scanner – to scan paper documents that arrive into the business, so they can be distributed to the relevant people for prompt action.
- OCR technology – to streamline processing of invoices and purchase orders. OCR (Optical Character Recognition) technology allows speedy processing of data ready for input into other software such as spreadsheets and accounting software.
- Electronic Document Management – A system that accommodates electronic documents in one centralised source, for easy access, filing, retrieval and archiving. One that is secure and has in-built authorisation levels for different staff departments.
It’s easy to put a user friendly system in place, and add archived material, so a fully comprehensive system is up and running from the outset.
Staff will save all the time they spend locating and filing paper documents, moving them from one department to another, and crucially, productivity, efficiency and accuracy of work will improve.
We’ve seen the difference it makes to company results – quicker turnarounds, happier customers, more motivated staff, and most importantly, bills paid in a fraction of the time.
It’s the answer to the cash flow headache!
If you’re struggling right now with long lead times and inefficiencies in your processes, you needn’t be. Talk to us and we can make things happen.