Delivery Invoicing — Electronic or Paper — in One System

Posted in: White Papers

The utilization of electronic invoicing follows customer adoption curve, so businesses can start gaining efficiencies and reducing costs immediately. This CTP Solutions electronic invoicing solution allows companies to send electronic and paper invoices to small and large customers instantly, eliminating the time and expense of managing costly mailroom operations.

CTP Solutions apply the best practices to customer billing processes by optimizing the delivery of invoices. For the sender, this means every customer invoice can be sent, archived and tracked automatically and electronically. For customers, invoices can arrive by snail mail as they always have, or as PDF email attachments, based on the preferences of the receiving customer. Therefore, businesses can immediately gain the efficiencies and savings of electronic invoicing without a negative impact on customers. By providing customers a wider range of choices for receiving invoices, the billing process contributes to higher customer satisfaction by a reduction of errors, real time delivery of invoices and enabling tracking of invoices.

Automated electronic invoicing simplifies billing operations at minimal expense, effectively removing direct costs and processing inefficiencies associated with handling of paper invoices. For customers who are not ready to receive invoices electronically, a business can gain efficiencies by offloading the delivery of paper invoices through outsourcing on-demand print and mail services. Invoices can be sent directly from the system to a production facility where the documents are printed, folded, inserted, stamped and forwarded to the post office.

Conventional billing processes typically process invoices at the end of a set time period. But the faster a company gets invoices into the hands of customers, the sooner it can receive payment. Electronic invoicing enables immediate sending of invoices as they are prepared, enabling customers to start their internal payment process, which significantly reduces Days Sales Outstanding (DSO). A electronic system promotes continuous collection in contrast with invoice batches posted by the end of the month.

Accounts payable is a critical process for your customers and many of them are not prepared to abandon paper invoices just to save your business time and money. The important point is that your business can gain many advantages without requiring a change on the part of your customers.

Those efficient business processes include: reduction of document handling time, reduction in cost of sending billing documents, reduction of billing errors, prevention of lost invoices and related documents, ready availability of all billing documents, improvement of customer service and reduction of Days Sales Outstanding.

CTP Solutions can optimize your invoicing processes and improve your Days Sales Outstanding. Learn more by giving us a call.