Manual Invoicing Holding You Back? It’s Time to Move On

Picture this: you sit down at your desk, ready to dive into your tasks for the day – only to spend the entire morning formatting invoices, correcting errors, and chasing payments. By the time you’re done, the real work still hasn’t even begun.

Sounds familiar? You’re not the only one. It was found that 66% of businesses take more than 5 days to process invoices, and almost half of all businesses require two to three people to approve an invoice. Despite all that, 11% of customers never received their invoices.

It’s clear that manual invoicing doesn’t just slow things down – it also harms your cash flow, business relationships, and overall productivity. So what exactly makes manual invoicing such a challenge? Let’s break it down – and find out how to overcome it.

The Problem with Manual Invoicing

1. Time-Consuming Process

Data entry, verifying details, and reconciling invoices can be very time-consuming, especially when you have to deal with a large volume of invoices. Moreover, the time taken to chase payments can eat into productive hours. This often leads to delays in payment processes and causes stress and tension among suppliers and clients, potentially damaging relationships along the way.

2. Lack of Real-Time Insights

Tracking payment statuses manually can be a daunting task. Without real-time updates, you might find yourself struggling when it comes to identifying outstanding payments and monitoring cash flows. The lack of visibility can lead to delayed follow-up and uncertainty in financial planning.

3. Compliance Issues

Without automated checks, it can be easy for mistakes to slip through during manual processes. During audit seasons, the time and resources spent searching for invoices can be overwhelming. Inaccurate filing can also lead to fines and penalties, or even damage to business reputation.

4. Security Risks

When stored on paper, sensitive data is often vulnerable to theft, loss, or unauthorised access. Confidential information such as client details, payment terms, and transaction amounts can fall into the wrong hands if not handled with caution. This creates a risk of financial and reputational damage.

Make Way for E-Invoicing with InvoiceNow

Now for the good news: You don’t have to stick with manual invoicing any longer. There’s a better way around it – one that’s smarter, simpler, and safer.

Implemented by the Infocomm Media Development Authority (IMDA), InvoiceNow is a digital invoicing method to allow businesses to enjoy faster digital payments while reducing costs. Unlike traditional invoicing methods, e-Invoices are sent via the Peppol network, creating a more secure and seamless invoicing process. Once an invoice has been created in the cloud-based software, it will be sent directly to your client’s accounting system, reducing the overall time taken for follow-up and manual data entry.

Try InvoiceNow with Zetta Solution – For Free!

Zetta Solution is proud to be a certified InvoiceNow Access Point and Solution Provider. Whether you’re a business owner, accountant, or fellow solution provider, we offer a comprehensive, tailored solution to make e-invoicing easy and stress-free.

Curious to see how it works? Try it for yourself with our free trial – so you can experience the benefits firsthand, with absolutely no strings attached.

Write in to us at sales@zetta-solution.com to find out more and get started with InvoiceNow today!

Image Source: Freepik