Should You Automate Your Invoicing? Part 1

January 8, 2020 by OSYB Staff

Before you consider automating your invoices, here’s a quick summary shared by Intuit QuickBooks of what you should know before considering this next step:

• understand your cash flow cycle
• analyze your cash flow usage
• discern how liquid you are
• know your liabilities

Once you understand how your business liquidity works, here are a couple things to look into where you might find ways to streamline:

• analyze your inventory management – are you stocking too much inventory or too soon?
• study your accounts receivable management – are you asking for deposits and do you have process to collect invoices?

Once you have a stronghold on the information requested above and other data documented, you may want to check out if automated invoicing is a viable option for you.

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For full article: Automated invoicing may be the solution for getting paid

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