July 22, 2020
A/R Automation in Staffing Companies – Importance
If there is one business genre that needs to adopt accounting automation on a war footing then it is staffing companies. It has all the ingredients that make it a perfect candidate for invoice automation. Due to sheer numbers and complexities involved, chances of errors creeping in are high in this industry. Staffing agencies are known to lose substantially due to poor invoicing practices.
Adopting A/R automation in staffing agencies is no rocket science – it is as simple as subscribing to CONSULT ® and start to using it. It is made for the popular QuickBooks accounting software with which you should integrate.
A/R Automation is Secure
Staffing companies choose to automate their A/R process, they are not only doing an yeoman service to their team but also making more secure and protecting it from dishonest employees pilfering data. Data theft is reputed to affect all businesses and tighter security is a collateral benefit of automation.
In true accounting automation, data is never copied into any device for further processing. All information is directly transferred to automation app which in turn prepares the invoice.
Spend Less time on Invoicing
Time is a valuable factor in invoicing and when you set a time to deliver it, it should happen precisely. You should complete billing and dispatching in tune with the specific time during which your bills will be processed and paid. If you dispatch bills too late or too early, chances are your bills will be put in the backburner. This is where invoice automation comes in. Unlike manual invoicing, automated invoicing can churn out bills after bills with sustained accuracy.
If you thought that an army of billing staff can achieve quick and accurate billing, you are badly mistaken; it will only lead to inconsistent invoices with the possibilities of errors that are difficult to pinpoint. It should therefore be evident that expanding the team is not a solution for saving time and precision.
Plug the Loopholes and Increase Productivity
In invoicing it is difficult to pinpoint trouble spots that cause financial loss. It is estimated that as much as 4% of revenue is lost by even the most efficient companies in staffing business when it comes to billing and tracking payment receipts.
This is because it requires human attention in manual invoicing process and human efforts are inherently prone to commit mistakes. A/R tools such as CONSULT ® can play a major role in ensuring that all invoices have met prescribed standards and are of a uniform quality standard.
CONSULT ® is a much acclaimed tool for small and mid-size businesses that want true accounting automation. It requires no special training and is offered as SaaS with a streamlined user interface. You can try it free for 14 days without any obligation to buy.