A long, long time ago, when mankind was living in the non-digital era and computers were yet to be invented, everything was done manually. Talking about businesses, invoice creation was done using a pen and paper. However, computerization and technological advancements created an efficient and hassle-free option to manage mundane tasks like the creation of an invoice. While most businesses have adopted these technologies with open arms, there are a few who are still creating invoices manually. Do you still find yourself manually writing invoices? Are you aware of the monetary and reputation risk that you are exposing your business to?
The problem with manual creation of invoices
Since business owners stared creating invoices using technology, there have been many errors that have been taken care of which otherwise were a glitch in the invoice creation process done manually. Some of the drawbacks of manual invoices are:
- Costly to prepare: Since manual invoice creation involves paper, office space and above all man-hours with the cost of human resources is ever-increasing, these are costly to prepare.
- Time consuming: Typically, the accounts team prepares an invoice which is ghen approved by a senior member of the team before sending it to the client. In manual invoices, since physical paper needs to move from one desk to the other, the time taken is usually higher than its technological counterpart.
- Prone to human errors: Manual processing always has an element of human error associated with it which lead to a loss of money, time and opportunity.
- Tedious filing and record keeping process because of the paperwork involved.
- Slower communication between internal departments due to the time lag for physical invoices to flow to different departments.
- Non-availability of invoice information when needed: Since the record files have to be pulled out every time information is desired of an older invoice.
- Discrepancies are possible due to manual creation and manual checking of invoices.
- Vulnerable to data theft or loss since manual invoices are filed physically and stored.
And above all…
- An error can cost you money and reputation: With manual invoice processing the chances of duplicate payments, late payments, excess payments, fraud, missing out on discounts and forgotten credit notes are high. Each of these can cause you to lose money and dent your reputation in the market.
DIGIBILL – no more manual invoice processing
“DigiBill” is a flexible, multi-tax compatible business accounting app for small and medium businesses. It allows the business owner to generate sales and purchase invoices in an easy and user-friendly way. It also helps reduce your daily effort and is very simple to use. The application is supported on all latest android devices. You can configure and start generating invoices in minutes and take full advantage of the application for features like managing customers/ suppliers account, pending payments of suppliers, manage stock and viewing the growth of your business.
These invoices can be shared over WhatsApp or email and a transaction SMS can be sent for the generated invoice for better client engagement. The invoices can be created for A4 or 80mm thermal paper.
So, stop creating manual invoices and protect your business from potential losses and reputation damage. Start using DIGIBILL today!