When it comes to service operations, efficiency and productivity are key to success. Among the challenges faced, the invoicing process is often a cause of inefficiency leading to missed billing and poor cash flow. Fortunately, the advancement in service management mobile software is transforming back-office operations, making invoicing effortless and ushering in a new era of streamlined efficiency.
Optimising Invoices for Service Contracts
While service management mobile software isn’t new, many companies have yet to fully grasp its potential. By leveraging service management mobile solutions, service engineers kickstart the invoicing process right after completing a job. With just a click, they can seamlessly relay all job details to the back-office. Then, after a quick review the invoice can be promptly sent to the customer for payment.
However, here’s the catch: integrating service management software and accounting solutions is necessary to maximise benefits. Without integration, your back-office staff would have to manually type invoice details into both systems, leading to unnecessary duplication of work. This tiresome process often leads to staff holding onto invoices longer for batching, extending timelines and consequently cash flow challenges, especially when customers may take on average 30-60 days to pay and potentially longer when you miss their payment cycle. The impact on cash flow and working capital can be substantial.
By using a service management software that integrates with all the leading accounting solutions you remove duplicated administrative tasks and adopt fast, efficient invoicing and financial control.
Engineers need mobile service management software and so do Finance teams
With Service Geeni’s service management software, businesses can effortlessly schedule and dispatch skilled engineers. Engineers receive all relevant job details directly on their mobile devices, enabling them to complete necessary forms on the spot, reducing manual errors. Once a job is completed, the information becomes instantly available to the administration and finance teams. The software already has the customers’ work details, including individual hourly labour rates and cost per parts. After the engineers input the time taken and parts used, a fully customisable invoice can be created and sent out with just a few clicks.
Connecting Service Management and Accounting Software
When it comes to your accounting solution, Service Geeni’s software can automatically categorise all job costs and transfer them to your accounting system, saving administrative time. Whether it’s labour and parts costs, labour rates, selling prices for parts, hire rates and more, the hassle of allocating each element to the correct nominal cost codes or cost centres is automated, ensuring smooth and accurate invoicing and meaningful financial reporting.
How does this impact servicing contracts?
Many service providers operating service contracts bill per visit because most service management software systems can’t do periodic or consolidated invoicing. Whereas with Service Geeni service management software you get seamless integration and automation capabilities meaning you can either provide per service real time invoicing whereby invoices are raised per visit immediately on completion, consolidated invoicing with detailed line items for the specific visits and parts or spread the service visit costs equally across the contract period and apply standardised monthly or periodic invoicing maximising transparency and financial control.
Why now?
Mobile service management software is evolving with advanced technologies such as artificial intelligence and machine learning. These innovations will further streamline processes, enhance accuracy, and reduce manual intervention.
By embracing mobile service management software, businesses can streamline invoicing tasks and enhance overall productivity. Watch how simply setting up a servicing contract in Service Geeni can be, click here.
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