Want To Improve Your Account Receivables & Cash Flow Then Understand Your Customer’s Account Payable System
As such it is hard to understand when the two sides of a discussion are not on the same page and it becomes really complex when you top it off with a communication gap. The above statement holds the true reason for most of the startups or small businesses failing in their respective industry. Because much of the above drama leads between clients, customers, suppliers, and vendors on a regular basis for the services rendered from either side. Mostly all seems fine in the beginning and both the parties involved to do the trade as early as possible (may or may not go through all the terms) – a classic rush observed among startups and small business owners as they are much more focused on growing business by acquiring more clients and securing work.
Even though everything seems to be in place, what goes unnoticed is the correlation between your AR problems or your customer’s AP misery? Usually, the two sides of the unending discussion come to a halt at respective points from each side. For e.g, you would be wondering why your customer is not making payment as per the invoice terms and the customer would be held up in thinking why can’t be sending invoices matching our payment schedule, etc. And thus, leaving the discussion then and there along with the trust in the online invoicing system. In such a scenario, the best step for them is to go back to the tedious and old manual invoicing process. Most customers think that it is the best way forward, secure and trustworthy but in reality, all these points seem valid only due to the reason that they are used to the manual process from a very long time. However, in practicality, the manual invoicing process is time-consuming, error-prone and complex. Moreover, challenges such as manual dunning, untimely delivery of invoices and many other such obstacles can distort your business’ cash flow system.
Both sides of the AR/AP houses have ensured to get benefitted from implementing technology to bring up their respective month end process but little has been done to drive efficiency across a complete network which includes both of their systems.
Automation of invoicing and billing process makes E-invoicing a preferred choice as compared to traditional invoicing methods. Small business billing app simplifies the process and requires fewer resources to manage billing & accounting. This leads to faster payments and maintains easy cash flow for the business. Receiving initial payments on time concludes to avoid chasing late payments via phone, emails, etc and sending second invoices with late payment and surcharges. E-invoices eliminates all these situations. Automation also helps in reducing time to correct the mistakes in invoices and are generally more secure against any fraud. Most of these E-invoicing or online invoicing platforms offer robust security with SSL (Secure Sockets Layers) encryption which provides an additional layer of security to the invoices.
Moon Invoice – free invoice generator acts as a catalyst between a supplier/vendor and customer to bridge a gap with the cutting-edge features, functionalities and of course payment methods and terms which are suitable for both the parties.
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Moon Invoice has come up with the comprehensive online accounting & billing solution that connects small businesses to their accountants, Bookkeepers, banks and other online business software. Over the years, Moon Invoice is successfully able to pave the way for our customers to directly connect with their customers and suppliers or vendors so as to carry all the invoicing related business operations seamlessly. May it be iOS, MacOS, Android, Windows, and Web Moon Invoice works brilliantly and smoothly on any platform maintaining the uniformity while simultaneously also staying productive for you to access anytime-anywhere even while you are on the go.