Invoice Automation Good for More Than Just the Wallet

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When office administrators consider adopting invoice automation tactics within their businesses, cost savings are often the biggest motivators. A lot of leaders can't get past the fact that they won't have to buy reams of paper in bulk, rent out storage facilities, hire workers to fix machines when they go haywire and a number of other things.

Invoice automation good for more than just the wallet
Invoice automation good for more than just the wallet

And that's alright - the cost benefits of digitizing are massive, especially when considered over a long time. Sure, going digital might cost the business more money right in the beginning - they have to buy scanners, shredders, and outfit the necessary workers with computers if they don't have one yet. Plus, though every company is different, it's going to take a bit of time regardless of the size of the firm involved.

However, administrators, especially those on the fence about the whole process, need to realize that there are so many other advantages that accompany this move, even when only invoices are considered. While yes, a lighter wallet could be the main motivator, that shouldn't be the be all and end all of going paperless.

Even if that's the sole reason why a company leverages document management software, the numerous other benefits will present themselves not long after going digital.

So for those business leaders in the know, what do they have to look forward to?

A fast-paced office
Would you consider a company that takes days to send out an invoice to its business partners or own employees on the cutting edge? Using snail mail to send and receive this documentation takes a lot of time, something that's often noticeable to everyone involved, especially given the fact that there are technologies out there that eliminate wasted days, hours and even minutes.

Think of it this way - an employee would have to print out the invoice, have the necessary administrator sign it on their end, fill out an envelope and put a stamp on it, then send it to the next location, which could theoretically be almost anywhere. After a few days, at the very least, the file would return, and only then could the corporate relationship proceed. Either that or the company could hire a courier service, which is just another expense. God forbid someone filled out one of the forms wrong, then this whole process would have to start from scratch again.

Sending out invoices electronically and having them signed digitally could take only minutes.

A record
Sure, using paper forms literally creates a paper trail. However, there's not always concrete evidence that the invoice in question arrived at its destination at the right time - it's just one file, after all.

That's not the case with electronic workflow, The Maritime Executive insisted. The news source said that digital invoices ensure that both sides of this business relationship know the exact status of an invoice - or any number of other computerized documents - in real time, and constant visibility can keep all parties at ease.

The news outlet explained that numerous disputes can be put to bed by digitizing this process. For instance, within a manufacturer-storefront relationship, what if there are inconsistent charges? With paper invoices, this would require phone calls and potentially trying to compare two different systems. That whole scenario wouldn't be present were electronic systems invoked.

Reputation for safety
It's happened to almost all of us - though the U.S. Post Office is highly competent, sometimes mistakes are made and things are lost in the mail. However, when important business and financial documents are concerned, this can mean massive headaches for everyone involved.

Again, just another thing that would be completely avoidable if electronic platforms were used, a PaySimple blog post noted. The worries that important, sensitive files would end up in the wrong hands would be all but eradicated, and company leaders could make sure the correct party received the records right away.

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