Why Paperless Invoicing Means Money For Your Company
Mankind has certainly benefited from the rise of digitization. Paying for your utility or credit card bills can now be done with some few taps on your mobile phone. And Yardi invoice processing, for instance, has also helped companies, especially the firms’ accounting and treasury departments, to save a significant amount of money.
If you’re still deciding whether to implement paperless invoicing in your company, here are six ultimate reasons to convince you.
It offers more security
In the United States alone, cases of identity theft have already affected nearly 10 million individuals. People who steal others’ identity even go to the extent of “dumpsite diving” just to look for bills and mails. Once you decide to go paperless via Yardi invoice processing, you can deny them the opportunity to get hold of documents with sensitive, private information.
There will be fewer chances of error
Another good reason to go digital when it comes to your invoices is accuracy. With lesser human intervention, the chances for your company to incur errors (e.g. Incorrect invoice totals, sending an invoice to the wrong person, etc.) will be significantly lower.
It increases on-time payment rate
A significant chunk of the American populace fails to pay on time, citing losing paper bills as one of the main culprits. If you don’t want to be affected by this behavior, then investing in Yardi invoice processing might just give you the best solution.
If you automate this invoice processing, did you know that your on-time payment rate can go as high as 90 percent?
You can help save trees
Like what we all know, papers are made out of trees. Therefore, shifting to paperless invoicing is also a great help for mother nature.
A study by PayItGreen.org showed approximately 1.8 million trees will be saved if only 20 percent of American households would subscribe to electronic billing options. But, not only will this move benefit the trees, it will also help cut gasoline consumption and reduce the number of greenhouse gases being emitted during the paper production process.
Going digital means lesser need for physical storage
If you’re invoicing process is digitalized, you will also save on physical space. Several filing cabinets won’t be needed anymore, and you can now stop paying for offsite document storage fees (if your company has tons of paper invoices).
This will also help in improving your system’s search capabilities. As the data are now available in digital format, looking for and going over them will much be easier, compared when they are only in print.
It can save you more time…and money!
As a company, we fully understand if your goal is to streamline every process and make them more efficient. If you want to save time, paperless invoicing can produce significant results because it cuts several manually-done procedures, like printing, sorting out, and mailing.
Saving time can also be translated to saving money. The time you’ve spent doing all the steps in paper-based invoicing can now be used to more important tasks. This benefit comes on top of reducing your costs for paper purchases, your printing and mailing expenses, and more.
Yardi invoice processing gets rid of all possible headache in your workflow. This way, Nexus Systems can also help you save money through these business solutions we offer. Contact us today for a demo!