People who are involved with invoicing have been wondering about invoice automation, what it is and how exactly can it help make work easier, save money, etc. Automation is usually something that we fear, because those big and bad "automatons" are gonna take away our jobs. Others, mainly invoicing department heads, can't wait to implement invoice automation because they see it as a great way how to cut down costs and how to increase the productivity of the accounts payable department.
Invoice automation - future of invoicing?
Invoice automation isn't something that's very revolutionary. It has been with us for quite some time, and it's basically just recurring billing. Lets say for example that you're offering services or goods to a client on a regular basis, each month. Price doesn't change, so why not have the invoice sent to your customers automatically. What you will need to do in these types of situations is have software where invoices can be scheduled, and sent automatically.
Incorporating automated invoicing when dealing with lots of invoices that have to be sent on a regular basis makes a lot of sense, but is there a downside to setting up something like this? Well there is and that is if you decide to use automated invoicing and your business doesn't really need it. Now we can't tell you just how much of an invoice volume you need to have for automated invoices to actually start making sense, but let's just say that it's a lot.
For smaller companies that don't have to process a lot of invoices, it could actually mean loses, instead of savings. Automated invoicing has a lot of up-font costs that can't be recovered by small companies or it will take them a long time to do get a return on investment. It would then be very wise to actually sit down and think about if you actually need this type of invoicing and what kind of better alternatives might be out there for you.
Final thoughts and conclusions
Smaller invoicing software services like IntroBills don't have automated invoicing as a set of features, but we also don't have the high price tags that services which offer automated invoicing usually have. We think that for a smaller company that doesn't have large volumes of invoices that have to be processed on a monthly basis, the best course of action would be to use smaller invoice processing services. Contact us by clicking on the contact button from the image above to send us a message with any inquiries you might have.