In these ever increasing cost-conscious times your recruitment agency really needs to be on top of its game when it comes to the process of invoicing and payment. This puts efficiency and eliminating unnecessary overheads front and centre
Software technologies are really good at process efficiency, as well as reducing the drudge and errors that are associated with manual, paper-based processes. This is achieved through software automation and when applied to billing the clients of your recruitment agency it is known as invoice automation, and software that includes this capability is often known as an invoice management system.
An automated invoice management system is a key part of the digital transformation of a recruitment agency. Using appropriate recruitment invoicing software bakes in efficiency of the finance function of your business and prevents outdated approaches to back office and admin from pulling down on your bottom line.
In keeping with the well-established trend for cloud business applications, an online invoice management system eliminates the ownership costs associated with on-premise solutions, such as servers, internal IT team support and maintenance charges.
Typically, the method followed, or management process used to create, deliver and oversee the payment of invoices has these key steps:
The general features of an invoice management system are likely to include:
The main benefits of an invoice management system include:
Many might question the need for an invoice management system. And when invoice volumes are low, it may be possible to muddle along without one. However, in the true entrepreneurial spirit of the recruitment industry, should you have ambitions for your business, a good online invoice management system is a cornerstone for growth.
ETZ’s leading timesheet, invoicing and payment platform is purpose-built to streamline the recruitment back office. To find out more about releasing efficiency in the back office, call us on +61 (0) 405 458 821 or book a demo.
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