If you are in the IT staffing business and searching the marketplace for software that addresses invoicing issues related to the staffing industry, chances are you are being bombarded with tons of hard-sell talks that have already left you confused.
Choosing the right solution is not going to be an easy task we know, but it shouldn’t be so tough that you have to call for help from an independent consultant.
Here are 3 important questions to ask that will make your searching easy and more scientific.
Question 1: Is the target accounting automation software specifically made for the staffing business sector? If the answer is no, you better move to try another software that you have listed. The staffing industry sector has highly specific requirements that not even the most trusted and widely used accounting software in the USA can solve. Check software documentation with a lens and compare it with your own documented specifications. If somewhere you had read that it is made for the staffing company segment, go ahead to make an evaluation.
Question 2: Does the software have a direct-entry user interface (UI) for timesheet entry by consultants and subcontractors; and an automated reminder for alerting delinquent consultants? If yes, you may start to explore the software at greater depth. Any software with this feature can save tons of money and time, especially the delinquency reminder part that can hasten the invoicing process. May I remind you that invoices dispatched on time with zero-errors are processed faster? Late invoices not only delay the processing time but also may be carried over to the next payment period affecting your cash flow.
Question 3: Is the invoice automation software compatible with midway changes to contract conditions; and can invoice preparers introduce new conditions for compliance? If the answer is yes, then it is really some great stuff – you should consider it and discuss it with your team to solicit their views. IT staffing companies are the most likely of all to face constantly changing scenarios that demand higher compensation to consultants (or reduction in some cases) and subcontractors. Typically, it will be related to project delays or even completion ahead of schedule. Though many times these changes can be made manually, automated invoicing will solve a major hitch that all staffing companies fail to tackle.
On the sidelines, check the buying options that the software providers give; like: a free version, different kinds of pricing options for small users and power users and enterprise level customized rate.
Role of Invoice Process Automation in IT Staffing Business
Role of Invoice Process Automation in IT Staffing Business Invoicing, or billing as some call it is an important process in any business because it produces the document that establishes how much money the customer owes the vendor. It is expected to clearly state the service rendered or the product shipped, unit cost, quantity, tax payable and the total amount the customer/client is obliged to pay. This is the case of a simple bill/invoice. There are however complex invoices with more details that require extensive inputs to produce an invoice that is perfect and acceptable to the receiver for processing payment.
Give your Staffing Business the Invoicing Automation Advantage
Is your staffing company’s invoicing team getting bogged down due to the enormity of complex procedures in billing requirements? If yes, then automating the billing process can greatly help your team to improve productivity and reduce errors in invoices up to 100%.
