Fast Invoicing
For consulting engineering businesses, fast invoicing is a key performance indicator for management. The capability for fast invoicing relies on time and expense entry by staff and approval workflows for managers. Central Nervous Systems’ cloud ERP for consulting engineers solution has both of these features, making fast invoicing a reality.
The key benefits of fast invoicing:
Fast invoicing leads to faster cashflow
Responsibility for project invoicing transfers from Finance to the project managers
Faster Cashflow
The quicker the invoices go out to your customers the faster you get paid. Cashflow is king in any business. Getting paid quickly gives management more options to make decisions to benefit the business.
Project Managers are Responsible for Invoicing
Project managers know their projects and their customers. The project manager is already approving time and expenses against the project so running billing and approving the invoice is a natural fit. This process allows for the project manager to review and approve to the invoice before it reaches the customer. Billing errors and omissions are greatly reduced, resulting in fewer rejections from customers and higher quality revenue numbers for management.
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Shah.