The success of the company depends on the account receivable process. Some of the best practices in the automation of the account receivable process includes automation of the invoice sending process, invoice delivery, approval process, automated report generation, integration with the current systems, automated payment reminders, billing statements and much more. Invoicera helps in the management of the invoices with customized enterprise invoicing solutions, automated accounts receivable management.

1. Automating The Accounts
Receivable And Invoicing
Process Best Practices

2. Contents
1.Introduction
2.Automation of The Invoice Sending Process
3.The Information Carried on The Invoice
4.Invoice Delivery and Approvals Process
5.Automated Reports Generation
6.Integration With Current Systems
7.Automated Payment Reminders
8.Billing Statements

3. Introduction
● Any Accounts receivable process has a key role to play, in the success of
a company’s bottom line. The invoice collection process must be taken as
seriously as the core business process.
● The process should be organised in such a manner, that there are no
leaks in the system and the payments are duly processed on time. Here
are some best practices in automation of the accounts receivable process.

4. Automation Of The Invoice Sending Process
● In case of both B2B and B2C enterprises where a large number of invoices
have to be sent on a regular basis, an automated system sets up a
recurring profile to send out these invoices without the need of manual
creation and sending of invoices.
● Auto-bill profiles are setup, to ensure that the payment process is
automated as well. A predetermined invoicing and payments schedule is is
setup, to ensure that invoices are received by the client in a timely manner
and the payments keep flowing in, on time, as well.

5. The Information Carried On The Invoice
● An automated receivable process must ensure predefined information to
be added on the invoice. Each transaction must have the complete details
such are the order information, the client information, the purchase order
number, the estimate reference, the due date and other terms and
conditions.
● An invoice verification must be set up to ensure that all the pricing, taxes
and other details, sent to the client are error free.

6. Invoice Delivery and Approvals Process
● A process of confirmation that the invoice has been received by the client and is
duly approved, helps in ensuring that verified invoices are being received by the
client in a timely manner.
● An automated system ensures that there is no need for taking manual
confirmations and approvals from the client. The approval process coincides
with the payment process and payments are automatically transferred to the
vendor’s bank account, upon approval of the invoice.

7. Automated Reports Generation
● Running automated invoicing reports help in in depth financial analysis and
efficient management of business finances. Such reports include – invoice
ageing reports, outstanding reports, purchase order reports, estimate
reports and tax reports.
● Such reports help in analyzing the average payment cycle of each and
every client for timely corrective action. Automated reports help in efficient
management of resources and timely corrective action for any
discrepancies in the system.

8. Integration With The Current Systems
● Automated document management systems ensure paperless
management of all B2B documents, in an efficient manner. An automated
solution seamlessly integrates with existing ERP and CRM solutions to
ensure that there is no need to invest in new systems altogether.
● This adds to the efficiency of these processes and improves the return on
investment. Automated inventory management ensures, goods are back-
ordered as soon as they run out of stock and ensures that they are
available while in demand.

9. Automated Payment Reminders
● An automated payment process must be complemented by automated
payment reminders. In case the payments are not flowing in on time, then
automated reminders ensure that there is no need to make manual follow-
ups for reminders or collections.
● A late fee or an interest penalty is also automatically charged in case the
payment is not made on the due date of the invoice.

10. Billing Statements
● This ensures that the client automatically receives the billing statement on
a periodic basis.
● Automatic updation of clients about the current and outstanding bills helps
in saving the time spent on manual sending of statements . This also adds
to the comfort level of the client and helps in better client retention.

11. Choose The Right Tool
An automated invoicing solution like Invoicera helps in management of a large number of invoices in an
effective manner. Invoicera helps with customized enterprise invoicing solutions, automated accounts
receivable management. Know more about the benefits for switching to a customized invoicing software.

12. Get In Touch
Web: www.invoicera.com
Social:
www.facebook.com/Invoicera
www.twitter.com/invoicera
https://www.linkedin.com/company/invoicera-invoicing-simplified
Ph (IN): +91-9350204838 (6:00 am - 12:00 midnight IST)
E-Mail: marketing@invoicera.com

13. Thanks You :)