They say that time is money, and we certainly won't be the ones to deny this statement. More than because we believe it wholeheartedly, it's because we are fully aware of its importance as a resource for any company. In fact, there's a reason why we are dedicated to offering solutions that, among other things, save companies hours of time. Specifically, we apply this to one of the most important accounting processes: invoice management. We help you with this area, which is so important for any company, and thus offer you an ideal opportunity to optimize one of your business's most relevant resources.
Why is invoice management so important today?
Invoice invoice management is an essential process carried out in all types of organizations. This has been the case since the beginning of time, as it is a fundamental pillar of accounting. As chief financial officer, accountant within a company, or directly as an entrepreneur, you surely know exactly what we are talking about.
However, today, managing a business's billing has taken on a different dimension. It was already very important in the past, but today we are referring to a task that is performed digitally in a large number of businesses (and will continue to grow). How? Through what are known as ERP (Enterprise Resource Planning) or CMS (Customer Relationship Management).
In other words, digital transformation has arrived and had a strong impact on this process, which is vital for all types of businesses. Now, the leading companies in their sectors have in common that they know how to exploit the advantages of the online world and new technologies. In fact, according to a report published annually by the National Observatory of Technology and Society (ONTSI), in Spain, in 2021, 52% of companies already used ERP systems (6 percentage points more than in 2020), which are used to process invoice workflow.
The fact is that with this software, invoice management is much more efficient. Technology significantly reduces time, allowing companies to invest working hours in other areas of the business. Not only that, but they can also allocate human resources to these other functions and areas. Therefore, we are talking about cost and time savings that are very interesting.
How can invoices be managed effectively?
As you can see, the figures reinforce the idea that automating certain processes is a huge help, regardless of the industry. So, how can you manage invoices effectively if you don't yet have a digital system to help you do so? It's very easy: by installing good electronic invoicing software.
At easyap, we have been doing this for over 20 years. It doesn't matter what sector you work in, how much turnover you have, or how many invoices you issue and receive each month... We adapt to all kinds of businesses and companies. And not only that, but with a solution like ours, you will not only be working on automating invoice management, but you will also digitize other key processes in your organization:
- You will be able to directly generate and issue your electronic invoices to your customers.
- You will be able to convert and record conventional invoices received from your suppliers into e-invoices.
- You will have a unified space in the cloud where internal departments, customers, suppliers, and anyone else you choose can find out about and access accounting and billing information.
- Employees employees will be able to record their expenses conveniently and efficiently.
- You can report matters relating to your taxes to the relevant tax authorities.
As you can see, we are talking about benefits that go beyond the simple fact of digital invoice management.
How does automated billing affect supplier management?
As we pointed out, how to manage invoicing with suppliers is surely one of the aspects that most concerns many companies. There are still numerous SMEs and freelancers who have not made the leap to the digital world. Therefore, handling all invoice management digitally with them can generate fear, uncertainty, or mistrust.
However, if you implement a good supplier invoicing management system, you will see that fear or suspicion quickly disappear. We speak from experience, as this has happened to us on multiple occasions. With a system like easyap, you will have the perfect tool, and both you and your suppliers will see the benefits.
With a solution like the one we offer, you will be applying the best technology in accounting and auditing. This way, you can have automated billing for your suppliers with which you can:
- They will have access to all information about each phase of the process.
- All you need to do is register as a supplier in the system to check the status of any invoice, process incidents, communicate or whatever else they need.
- You will be able to automate the maintenance of contact information for all your suppliers.
- You will have a a unified view of all files and documents in one place.
In addition, our system, which is bidirectional with your suppliers and customers, allows any of them and you to access and use it 24 hours a day, 365 days of the year.
Five tips for managing invoices
In any case, although automating your billing process with software such as the one we designed at easyap will help you greatly, we are a company in which part of our team is made up of finance specialists. Therefore, we are knowledgeable about how a company's accounting processes work.
In fact, much of the knowledge and experience we have acquired over the years helps us enormously when it comes to implementing practical digital solutions for any business. That's why, apart from the many advantages that a system like ours can bring you, we offer you these five tips for invoice management:
- You must be up to date with your invoicing obligations. Know the laws and regulations on invoicing (Royal Decree 1619/2012, of November 30). This will prevent taxation and fiscal problems. We are talking, for example, about the deadlines for issuance, the content that must be included, or the time you must keep them, among other things.
- Strictly follow the numbering, i.e., the series. The number on each invoice you issue must be unique, sequential, and consistent with the date on which it is issued.
- Order and control with a routine for invoice management is essential. Get into the habit of following a methodology for each one, as this will prevent you from leaving invoices unissued or unregistered.
- Keep your accounting books up to date. These files are the database you will need to tackle those dreaded taxes. Your quarterly and annual tax returns depend on them.
- Rely on technology. What can we say? Classic Excel can be a good ally. However, if you have even a small amount of data, it is very likely that you will find it lacking in terms of functionality. That's where technology that unifies finance and business can save you.
It turns out that you can apply all of these tips we've just given you in one go. The software we offer at easyap will automate each and every one of these aspects. And don't worry about the price, as we adapt to your business volume. With our solution, you pay for each invoice you process and not a fixed monthly or annual cost, unlike many others. In addition, we will implement all of this within a week. one week at most and at no additional cost for configuration. Shall we talk about managing your invoices?
