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• Procurement is a complex undertaking that demands time and effort. Procurement teams spend time managing contracts, handling invoicing, and conducting matching processes.
• Automation provides an easy way to handle invoices. The almost overnight transition that organizations and employees have had to deal with has been challenging, physically, emotionally, and even psychologically.
• Thus, organizations have been forced to invest in robust and responsive platforms, among them remote cloud platforms as well as automation software.
Optimizing invoice and purchase order software can help businesses save substantial costs that would otherwise go to hiring staff. The purchase order software makes it possible to create and send invoices using purchase requisitions.
The simple invoice software simplifies the process of preparing and sending invoices. The invoice system speeds up workflows and reduces labor needs in small and large organizations.
Simple Invoice Software Features
Simple invoicing software varies widely depending on pricing, target users, and feature sets, although they contain certain similarities. A quality invoicing app entails the following key features and functionalities:
- Invoice creation. This feature allows for the creation of appealing and customized brands that match your brand image. This feature obtains and integrates information from spreadsheets and projects.
- Customer record creation. This feature notes down or records customer purchases and personal information. It later secures information in a centralized database containing search filters.
- Credit card processing. This feature processes recurring billing, and credit card information, and ensures secure customer management.
- Predefined templates. The invoicing software must provide customizable templates for creating invoices. The software must provide professional branding and customization that allows you to promote your brand and business.
- Currency settings. This feature integrates your invoicing and billing features seamlessly with your software architecture. Multiple currency settings receive different currencies and manage taxes. Multiple currency options are also vital for enterprises with global operations.
- Send and receive information. This feature sends quotations easily and faster. That’s because there’s a centralized system containing previous purchase information.
- Tax report and invoice. Great invoicing software eliminates the need to use external software for tax reporting. A simple invoice software must allow you to handle tax reporting without incurring an effort to summarize information.
Benefits of Simple Invoice Software
The simple invoice software is a good solution for many reasons. A simple invoice software provides the following benefits:
The simple invoice software automates simple processes, making your work easier, faster, and less time-consuming. An efficient invoice software must electronically prepare and convey invoices to the appropriate parties.
And once approved, a purchase order must be prepared and submitted to the relevant vendors. Notifications must be set to ensure every party is notified in case any action is needed.
The three-way matching process is an essential step in any procurement exercise. Procurement teams match three documents: the purchase order, the goods received a note, and the invoice.
The purchase order refers to a list of products (or services), goods received notes are a document showing the exact products or services received or consumed by the organization.
The invoice shows the monies owed to the supplier of specific products and services. Procurement teams often match these three documents to prevent invoice fraud.
A simple invoice software automatically helps you to match these three documents. The software signals any anomalies in the documentation, allowing transparent and accurate invoicing processes.
3. Request quotation
It’s the work of the procurement team to request quotations from vendors. The task of preparing and submitting requisitions can be time-consuming and arduous, especially considering the complex paperwork involved.
A simple invoice solution automatically helps you obtain quotations from various vendors. Great software for invoicing must contain a module that captures a list of pre-qualified vendors or suppliers.
Selecting vendors makes it easy to request, obtain, and compare multiple quotations from vendors. A simple invoice software helps organizations when they need to procure products quickly while saving time and getting the best value for money.
4. Eliminating late payments
The right software solution streamlines your billing and payment processes. This software allows you to send and receive payment information on time. You can streamline your collection by simply centralizing your cloud storage.
5. Minimizing missed payments
Missed payments are one of the biggest problems with manual or paper-based processes. By monitoring and tracking your billing information, you can avoid late or missed payments. A simple software solution allows you to minimize late payments by accurately tracking and monitoring your expenditures and billing.
An invoicing solution helps you maintain a professional image to your customers or stakeholders. That’s because the invoice can be customized to look like your brand and to communicate your brand message.
The invoice software provides customized communication allowing you to design logos. This software gives you a customized prompt and exudes a professional image to your target audience.
ProcurePort – Unleashing the True Power of Invoice Automation
ProcurePort is a provider of customized invoicing solutions. ProcurePort’s invoice software provides end-to-end spend visibility, allowing you to take control of all your billing and invoicing processes.
ProcurePort’s invoice solution is customized based on your business needs and designed to conform to your operational requirements. So, whether you’re looking for an invoicing solution, a requisition breakthrough, or even a billing savior – we’re here for you.
ProcurePort’s simple invoice software contains different features and capabilities to make your invoicing process a breeze.
Contact ProcurePort to unlock the power of invoice automation.