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The Future of Quote-to-Invoice Technology

If customer satisfaction is a significant priority, then the future of quote to invoice technology is looking bright concerning your enterprise resource planning system.

Warehouse and logistics managers understand how critical project management is across the entire organisation. Uniformity and consistency are keys to improving customer service and a shorter, more predictable life-cycle. It’s for these reasons that technology is responding to the needs of today’s warehouse. Agile managers understand that planning ahead and studying trends, not fads, are critical to the long-term success of their organisations.

Sales Order Processing With Workflows
If customer satisfaction is a significant priority, then the future of Quote-to-Invoice technology will look at optimizing your enterprise resource planning system. Common problems with paper technology and manual task management are inconsistent data and slowing your supply chain. Sales orders come in multiple formats, and artificial intelligence is creating opportunities to process these communications as they come in for various marketing channels. Not only do these technologies make work faster, but they also improve customer service by making information more accessible to access downstream. This can reduce sales delays as well as shorten the overall order to cash cycle. This enables warehouse managers and logistics suppliers to deliver products faster and receive payments quicker.

Automated Processes And Order Approvals
Automated processes and order approvals are on the horizon when it comes to warehouse management. Typically the approval process requires designated authorisation on invoices, budget documents and purchase orders. This can create a bottleneck and service delays. Automating the approval process creates a repeatable, scalable system you can count on. This assertion also allows you to ensure that work and other requests are approved uniformly throughout your organisation. Problems in the past of manual order approvals include missed payments, inconsistent data, poor document management, or merely no record of the sale or request at all.

Implementing Digital Invoicing And E-Signatures
Over the short and long run time horizons, we are going to see the implementation of digital invoicing and e-signatures. While this technology is already at the forefront of today’s invoice management processing, it still lacks certain functionality and feature applications throughout an entire organisation to be more efficient and effective. “Going paperless” is not anything that we haven’t heard of before, however as warehouse management systems and other related CRM’s catch up with the technology, we’re going to see the functionality of digital invoicing and e-signatures increase.

Automated Reminders And Notifications For Credit Control
Logistics and warehouse managers understand that cash flow is the lifeblood of business operation.  As automated reminders and notifications for credit control takeover, managing cash flows will be more predictable than ever imagined. It’s frustrating and time-consuming to chase down invoices. Plus, it’s awkward to pursue customers who have been with you for a long time. When your invoices incorporate automated reminders and notifications for credit control, it’s likely that your more forgetful or disorganized clients remember to pay.

Keep in mind that it’s not always indicative of an ability to pay should one of your invoices go unpaid. Your enterprise resource planning efforts should incorporate elements of ERP integration into your accounting/financial system so you can benefit from the advantages that automated reminders for credit control provides.

Get in touch with us to learn more about Nexon’s Business ERP solutions