Online invoice generator: how many problems does it solve?
Invoices… This word can bring out the scariest flashbacks to everyone who has ever run a company for more than a couple of years. All managers know well how hard it can be to keep them all in order, verified, archived and, most of all, paid. How to avoid the stress? How to make it all easier? We have the answer. Online invoice system.
Issuing and managing invoices can cause a lot of problems and misunderstandings. Some give it less attention believing that it’s just a formality. But such people are a minority. Almost all managers have experienced problems with delayed payments due to invoicing issues. But there are many more challenges regarding this subject. What are they and how to avoid them?
4 most common invoicing problems:
- Lack of clarity and confusion
A manager has just received an invoice with a blurrily stated subject but requesting quite a big payment. “Why should I pay for something that I do not recollect ordering?”, they ask themselves. This happens more often than one can think. Some companies tend to use product codes or ID numbers describing their products instead of their proper names. When such a document reaches its destination, the recipient is puzzled.
To avoid such a risk, we recommend sticking to a simple but precise description of the service or product offered. This way no one will ever have doubts about what the payment is for.
- Wrong data
This is also a common problem, even for companies who partner with one another for a longer period of time. One wrong number or letter can render the document completely useless. What’s worse, invoice issuers often tend to copy data from recent invoices, so once made, a mistake can go on and on leaving everyone angry and confused.
A database of clients and companies with verified invoicing details, maintained in order by specifically assigned employees, can be an answer to that.
- Slow processing and communication
Every service provider has experienced it many times: when they need you, they respond in a second. Once you did your job, the mailing process starts to slow down, and the responses are getting sloppy and rare. But there are always two sides to every story: once you’ve finished the job, you move to other tasks and forget about finishing the paperwork.
Solution? Good habits and a proper line of communication. It is good to establish such a line at the very beginning. Choose the method: email, phone, whatever, but be precise and stick to it. Both sides should feel free to express their needs and questions.
- Missing invoices
Waiting patiently for the payment. Days, weeks go by and the account remains empty. Before giving up to anger and despair, ask yourself a couple of simple questions: have I issued the invoice for this service? Was it correct? Have I received any form of confirmation that it reached the client? This is the problem that occurs really often, especially among those really snowed under with work.
A solution to that could be a table, a document or even a system that gathers projects and allows to tag them in terms of invoice issuing and payment.
There are many questions but they can all be answered with one proper corporate management system. SpaceTMS has a built-in online invoice generator, which is linked to a customisable client database, as well as a project management module. This way with one software, in one cloud-based environment, the manager can monitor projects, issue and check online invoices and correct any wrong data to eliminate once and for all even the smallest mistakes. Looking for your company’s safe space? Try SpaceTMS.