How can a web-based ERP boost your invoicing process


In an older post (http://goo.gl/jXGmOi) I discussed how web-based or cloud Financial ERP can help you unlock new possibilities for your Business Processes. The basic argument there was that an open system (like a cloud-based system is, by definition) could involve your customers in a specific business process (like sending a Sales Order, posting a comment that needs subsequent action from within your CRM etc.).
The reaction I got from a number of readers was that new best practices could be devised and applied in a very important, so to speak, business process which is of everybody’s interest, big or small: that of invoicing the end-customer. We shouldn’t forget that many small and medium enterprises are focusing their I.T. operations on Accounts Receivable, inside which the invoicing cycle represents a significant part. Therefore, in this post I’d like to focus on this specific issue: how can your invoicing change when you’re using a web-based Financial ERP


To answer this question, we need to utilize functionality that is inherent to web-based systems (such as openness and accessibility through a web-browser) and point out how such functionality is not present in legacy ERP systems.

Starting from the preparation of the invoice and seeking customer approval, we know that in most cases this is not a frequent process. Usually, accounting prepares and issues the invoice and simply sends it to the customer. If errors are found, then there is some kind of communication (verbal or through email etc.), the issue is resolved and then a credit note and a new, correct, invoice is issued.
But, in the web, it is possible to seek customer’s approval before the actual action of issuing the invoice and posting it to your G/L. A PDF copy could automatically be sent to the customer along with an explanatory email requiring their approval in order to continue with the actual issuing of the invoice; or the customer could be prompted to enter a B2B portal and provide their electronic approval for the invoice in question, even before a PDF equivalent is produced. This will take load off of accounting for the approval process and also minimize errors and credit notes processing in general.

After the invoice has been issued, there is the question of sending it to the customer. This could be done on paper, by enveloping the invoice, sending it through “snail mail” or sending it through email. In both cases, you are not sure whether it has reached its destination and in the case of actual mail, you know that it’ll take a lot of time to reach the recipient and surely you can’t have a return receipt (unless you call on the phone or send another email etc.); let alone the fact that actual printing of the invoice and physical mail cost way to much (studies show that the cost per invoice could reach as high as 7 € per invoice – all costs considered).
But in the “cloud invoicing”, an email could be automatically generated and forwarded to the recipient. What’s more, this email could request from the customer to simply “click there” and declare that the invoice was received, checked and found OK in all of its details; or if it wasn’t found OK, then the customer could immediately inform you of the problem and probably automatically post an “action required” entry in your CRM.
Another idea is that invoices are not even transmitted automatically through email; instead an automated process could inform customers that their invoice is ready to “pick up”. Then they would go into your B2B portal and get the invoice for themselves, probably also get a machine-readable file (e.g. XML) to post into their system as Accounts Payable. Ultimately, your system may log their action of getting the invoice, thus saving you more hassle from checking whether invoices were delivered, managing undelivered messages etc. 

Then comes the invoice payment, where a web-based platform could allow the recipient of the invoice to automatically pay the invoice (sure, some kind of interface with the bank is required here!) or, if this is not directly possible, at least have them declare that they have paid, attaching the payment slip or other supporting documentation.

The above show us that web-based or cloud solutions for Accounts Receivable are not just a “technology hype” but are the vehicle through which Business Processes can be redesigned, optimized and streamlined; and the costs pertinent to those business processes can be decreased significantly.

Comments

  1. This comment has been removed by the author.

    ReplyDelete
    Replies

    1. IEEE Final Year projects Project Center in Chennai are consistently sought after. Final Year Students Projects take a shot at them to improve their aptitudes, while specialists like the enjoyment in interfering with innovation. For experts, it's an alternate ball game through and through. Smaller than expected IEEE Final Year project centers ground for all fragments of CSE & IT engineers hoping to assemble. <Final Year Projects for CSE It gives you tips and rules that is progressively critical to consider while choosing any final year project point.

      JavaScript Training in Chennai

      JavaScript Training in Chennai

      The Angular Training covers a wide range of topics including Components, project projects for cseAngular Directives, Angular Services, Pipes, security fundamentals, Routing, and Angular programmability. The new Angular TRaining will lay the foundation you need to specialise in Single Page Application developer. Angular Training

      Delete
  2. Really interesting content. you are a very skilled blogger.

    ERP Software Solution.

    ReplyDelete
  3. ERP is the main factor of any business success. Current every sector demand ERP software and system, Like ERP for Oil and Gas , Hospitals, schools, Engineering, Aviation and more. Your article is very useful for many business sectors.

    ReplyDelete
  4. This comment has been removed by the author.

    ReplyDelete
  5. Yes, we agree with the information about ERP application. Similarly, Our platform can easily accommodate data interchange through mailbox synchronization with both large-scale ERP systems such as SAP and Oracle and smaller size ERP systems and specialized software such as Quickbooks.

    ReplyDelete
  6. Nice post,thanks for giving this post this is very useful to every one and like this types also good explanation.thank you
    erp software companies in chennai

    ReplyDelete
  7. Hi admin..It was awesome blog.I got more details & ideas from this blog.Keep in blogging.CFA Audit | CA Firms
    Warehouse Audit

    ReplyDelete
  8. Nice informative blog. I found useful information on what is cloud migration and its importance. Thanks for sharing

    ReplyDelete
  9. Nice post,thanks for giving this post this is very useful to every one.ERP software is a technology based solution for the business process automation. All the aspects of business like taking orders, scheduling operations, keeping financial records etc are done by an integrated software solution, called ERP. The ultimate target of ERP is to improve business environment and reap the maximum from investment. visit : http://pridesys.com/

    ReplyDelete
  10. You won't believe me, but I was planning to write a blog very similar to the one you have posted here. Great work!

    AWS Training In Navalur

    Hadoop Training In Navalur

    ReplyDelete
  11. It was subsequently a great deal useful for all of us and even thanks to your site, along with as I accomplished a good deal of strange Aws Migration tips, a task contain undoubtedly outlined is certainly fabulous. Generously blog post a lot more like it, Thanks for your time.

    ReplyDelete
  12. This blog is very much helpful to us. Thanks for your information

    Guest posting sites
    Technology

    ReplyDelete
  13. It’s really amazing that we can record what our visitors do on our site. Thanks for sharing this awesome guide. I’m happy that I came across with your site this article is on point,thanks again and have a great day. Keep update more information..
    ERP Software in Dubai

    ReplyDelete
  14. This is a great article. I'm an SEO analyst working for the ERP software company
    in Chennai. Thanks for sharing the importance of an ERP.

    ReplyDelete
  15. The information you have deliver here is really useful to make my knowledge good. Thanks for your heavenly post. It is truly supportive for us and I have accumulated some essential data from this blog.
    ERP Software In India
    ERP Companies In Chennai
    ERP Software In Chennai

    ReplyDelete
  16. Hey Nice Blog!!! Thank you for sharing information. Wonderful blog & good post.Its really helpful for me, waiting for a more new post. Keep Blogging!!!

    Best SEO Company in Lucknow
    ERP Software Development Company in Lucknow
    Seo Services in Lucknow

    ReplyDelete
  17. Hey Nice Blog!!! Thank you for sharing information. Wonderful blog & good post.Its really helpful for me, waiting for a more new post. Keep Blogging!

    Photography Studio Management
    ERP Software Solution Company in Lucknow
    Best Network Security Provider Company in Lucknow

    ReplyDelete
  18. Great content and thank you for sharing your knowledge on this topic. Cloud ERP brings a new way for organizations to manage their operations better, streamline their processes and take care of their accounting. Keep up the good blogging!

    If you're looking Cloud ERP software check these SAP Business ByDesign.

    ReplyDelete
  19. I am not sure the place you are getting your information, however good topic. I needs to spend some time studying more or understanding more. Thank you for wonderful information I was in search of this info for my mission.
    ERP Software Companies in Chennai
    ERP Software In India
    ERP Companies In Chennai
    ERP Software In Chennai

    ReplyDelete
  20. They sharing about the web based ERP in easily understand by every one thanks for sharing this post
    ERP Software Companies
    Manufacturing ERP

    ReplyDelete
  21. Thanks for the informative post really looking for this kind of information keep posting | Web designing company in Hyderabad

    ReplyDelete
  22. There is lots of Post about SAP But your Post is So Unique and Knowledgeable e So Thanks for Sharing a nice Information and Picking the fitting vocation can be hard; anyway SAP Course having a depicted calling bearing will assist you with getting a difficult and well-paying employment
    SAP Training in Delhi
    SAP Training in Noida
    SAP Training in Gurgaon

    ReplyDelete
  23. Great Content ! Thank you for sharing this informative information. It can be used for people who are looking for for Free Invoice Generator which generator unlimited invoices and track business records and help us to know overdue payments of different clients.

    ReplyDelete
  24. Outstanding post! It's very instresting and usful content for Mobile App Development. Must read Mobile App Development Company in Delhi

    ReplyDelete
  25. What awesome blog looks great? Want more details something like visit and explore more new items. Thanks for this valuable thoughts. Accounting software in Pakistan

    ReplyDelete
  26. Good blog..Veriety of information which is helpful to improve my knowledge even more and very thoughtful blog...Thanks for the article!!! ERP Solutions

    ReplyDelete
  27. Pridesys HR Management System is perfect match for your need of flawless Human Resource Management. It’s offering you a full picture of your HR activities, starting from recruitment to final settlement within a click of mouse.see more..

    ReplyDelete
  28. THANK YOU FOR THE INFORMATION .HI GUYS IF SEARCHING FOR erp solution
    in Bangalore
    PLEASE VISIT US
    erp solutions


    ReplyDelete
  29. A cloud based ERP system allows employees to access the ERP remotely – from home, during their commute, while traveling – so they have easy access to the information they need.

    check this : NetSuite Philippines

    ReplyDelete
  30. Thanks for sharing the valuable information here. So i think i got some useful information with this content. Thank you and please keep update like this informative details.


    erp software development company in us
    erp software company in us
    list of erp software companies in us
    erp in chennai
    list of erp software companies in chennai
    Latest CRM Software

    ReplyDelete
  31. this article is very useful for me to know about ERP...,
    thank you for sharing this article..,
    Apple Infoway Pvt Ltd

    ReplyDelete
  32. Wow, amazing blog layout! How long have you been blogging for? you make blogging look easy. The overall look of your website is fantastic, let alone the content!

    Mobile app development in Coimbatore
    Android app development in Coimbatore

    ReplyDelete
  33. most wonderfull Article, Thanks for sharing!
    www.justwebworld.com/vyapari-app-erp-based-gst-compliance-and-invoicing-application/

    ReplyDelete
  34. good concept about web based ERP. i hope this message help all business sectors ERP Services |
    Unlimited ERP Solution |
    enterprise application services

    ReplyDelete
  35. Thank you Tasos Christidis for sharing valuable concepts about Cloud and Web-Based ERP Systems .

    Regards,
    Hunain

    ReplyDelete
  36. Thank you again for all the knowledge u distribute,Good post.
    Used vehicle accounting scheme

    ReplyDelete
  37. Very good explanations of the ERP software basics, it's good to know that! A friend of mine has implemented a company which is best ERP software in Hyderabad right now, she provides cloud based ERP software in Hyderabad, so I hope it goes well for her.
    Best regards

    ReplyDelete
  38. I like your page.Businesses have become very sophisticated today. It is even much likely that most sellers and producers never get to see the actual clients who consume their goods, and vice versa.Thanks for great information you write it very clean. I am very lucky to get this tips from you.
    Logistics Software

    ReplyDelete
  39. Hi, Nice article that you shared. the way of express your thought is good way. Thanks for posting ERP Solution|ERP Software

    ReplyDelete
  40. Amazing blog! I agree. Invoicing platforms use the cloud to allow customers to log in to a secure portal and pay off their invoices. Customers can conveniently use any smart device to post payments to invoices – from anywhere, at any time.

    Try to check this NetSuite Philippines.

    ReplyDelete
  41. Nice explanations of the ERP software, it's good to know that! A friend of mine has implemented a company which is the best ERP software providers in Hyderabad right now, she provides cloud based ERP software in Hyderabad, so I hope it goes well for her.
    Best Regards

    ReplyDelete
  42. Excellent information with unique content and it is very useful to know about the information based on blogs.
    /www.erp.gold/low-cost-wholesale-inventory-software/ .

    ReplyDelete
  43. Excellent and detailed Blog!
    Thanks for Sharing information about Accounts Receivable Services. This is Helpful Knowledge.
    Accounts Receivable Services

    ReplyDelete
  44. Online ERP Solutions helps in streamlining your business operations. JiWebTech offers the best and wide range of ERP software for managing different businesses.

    ReplyDelete
  45. Good article! It is very inspiring and informative, This article is worth sharing to other people too. We are looking forward to more of this.

    SAP mm training Marathahalli
    SAP hana training in Marathalli
    SAP abap training in Marathahalli
    SAP fico training Marathahalli

    ReplyDelete
  46. Thanks for sharing this excellent informations about Account Management ! Keep blogging!!!

    Accounts Payable Outsourcing
    Accounts Receivable Outsourcing
    Supply Chain Control Tower

    ReplyDelete
  47. Online ERP Solutions is the best and high-class software solution that helps you in seamlessly operating your business and helps you in streamlining your business operations.

    ReplyDelete
  48. Definitely very beneficial to get knowledge about it. It is very interesting even as studying this weblog. Thanks and maintain sharing.
    Best appointment scheduling software
    ERP Services
    Big data development company in Chennai
    PHP Services

    ReplyDelete
  49. ERP Solutions Software that helps businesses to stay ahead over the crowd. It helps to improve your operational functions and can achieve your business goals.

    ReplyDelete
  50. Thank you for sharing this information. It is helpful for those who are looking for
    Accounting Software for small business
    which helps in creating invoices instantly.

    ReplyDelete
  51. I enjoyed reading your blog post! very helpful. Cloud ERP software is the ability to automate their procedures resulting in accuracy, time-savings, and customer satisfaction.

    If you looking ERP software kindly check this NetSuite Philippines or SAP Philippines

    ReplyDelete

  52. I'm here to testify about Mr John Blank ATM Cards which can withdraw money from any ATM machines around the world.. firstly I thought it was scam until I saw so many testimony about how Mr John sent them the ATM blank card and how it was used to withdraw money in any ATM machine and become rich so I decided to risk the opportunity I contacted him also and I applied for the Blank Card to my greatest surprise I have used it to get 10,000 dollars. maximum withdrawal daily $1,000, Mr John is giving out the card just to help the poor. Hack and take money directly from any ATM Machine Vault,If your interested kindly contact him directly on his email (johnlopez1945@gmail.com)

    ReplyDelete
  53. Great post with unique information.This blog will really helpful for me to develop my skills in a right way.Thanks for sharing,keep update with your blogs.

    Website Design Company in Bangalore | Mobile App Development Companies in
    Bangalore
    | Website Development Company in Bangalore

    ReplyDelete
  54. Thanks for Sharing a very Nice Information & I must Say it’s really very nice content & Helpful & If anyone Want to Learn Advanced Level SAP Training Course with Placement offer

    World Class SAP Training Center in Delhi, India with Placement offer

    Sap Training in Delhi
    Sap Course in Delhi
    Sap Institute in Delhi

    ReplyDelete
  55. Hats off to your presence of mind..I really enjoyed reading your blog. I really appreciate your information which you shared with us.
    CRM with Invoicing

    ReplyDelete
  56. Comfortably, the post is really the freshest on that deserving topic. I harmonise with your conclusions and definitely will thirstily look forward to your next updates. Get more info about print shop management software

    ReplyDelete
  57. Great Article. Thank you for sharing! Really an awesome post for every one.

    IEEE Final Year projects Project Centers in Chennai are consistently sought after. Final Year Students Projects take a shot at them to improve their aptitudes, while specialists like the enjoyment in interfering with innovation. For experts, it's an alternate ball game through and through. Smaller than expected IEEE Final Year project centers ground for all fragments of CSE & IT engineers hoping to assemble. Final Year Projects for CSE It gives you tips and rules that is progressively critical to consider while choosing any final year project point.

    Spring Framework has already made serious inroads as an integrated technology stack for building user-facing applications. Spring Framework Corporate TRaining the authors explore the idea of using Java in Big Data platforms.
    Specifically, Spring Framework provides various tasks are geared around preparing data for further analysis and visualization. Spring Training in Chennai


    The Angular Training covers a wide range of topics including Components, Angular Directives, Angular Services, Pipes, security fundamentals, Routing, and Angular programmability. The new Angular TRaining will lay the foundation you need to specialise in Single Page Application developer. Angular Training

    ReplyDelete
  58. Thanks for sharing the best information and suggestions, it is very nice and very useful to us. I appreciate the work that you have shared in this post. Keep sharing these types of articles here. online Invoice software for free

    ReplyDelete
  59. Thanks for sharing such a great post on Online Invoicing Software Keep blogging...

    ReplyDelete
  60. I am sure your post is going to prove an asset for myself and all other aspiring software developers. Thanks for sharing such great stuff. You can also refer Invoicing Software . for some more trending subjects to write in future.

    ReplyDelete

Post a Comment

Popular posts from this blog

How does web-based ERP enable Growth Hackers in new ways

Data migration to SaaS