e-Business Methods #1 e-Invoicing
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Converting to sending your invoices electronically (email) is easier than you think and can help improve your bottom line almost immediately. If you think of the cost of printed envelope, stamps, labor and snail mail - sending that invoice via snail mail can cost you $1.40-$2.50 or more. For a business that sends out 100 invoices (especially small amounts), this causes a hidden loss of profits that can be easily remideed.
The first step is to check your existing accounting software to see if it already has that capability or feature. The very popluar QuickBooks Pro does and it can be done with a few clicks of the mouse within seconds. It also helps elimiate the "must have gotten lost in the mail" excuse.
The second step is to prepare an announcement to your customers that as of X date, yoor invoicing will be electronic. Promoting your company as embracing technology to offer better service is not a bad idea at this time. One key is to inform them of whom you will send the email to (w/ email address) and ask for any corrections or the appropriate person - it may be different that who you have been snail mailing to.
You will get some push back but based on our exp. in converting to e-invoicing, 70% accepted it right away and today, 98% receive e-invoices from us - 3 still want a stamped hard copy via snail mail - and we do that for them.
Internally, an additional cost saving is the elimination (or drastic reduction) of hard copy storage, space & files required when you properly back up the data.
Try it - what do you have to lose but more so - what do you have to gain?
Good Luck and Success!
