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Showing posts from May, 2021

Accounts Receivables Management: How Do I Deal with A Late-Paying Customer?

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F acing issues with receiving late payment and unable to manage late-paying customers? Well, the situation isn’t alarming until it becomes fear for life. How? Generally, if you don’t focus on tackling the payment process in the first place to one customer then you will become habitual with every second customer. And, this way customers will delay or avoid paying you if you don’t have records maintained. However, piling up the problems might lead you to major risks. Thus, here are some tips that will help you say goodbye to late fees. Walk through this blog to know the account receivable management process. Let’s start! Common Reasons Receiving Late Payment There must be a glitch that makes you face problems. Likewise, when you are receiving a late payment, the reasons can be counted as below: Sending a late invoice to customers Incorrect invoice shared Mis-matched records billing No fixed date and time for payment Solid Tips To avoid Receiving Late Fee for Accounts Receivables Mana...

How Much To Charge Clients For Travel Time

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 Do you ever wonder how much time you spend on traveling? According to the  Corporate Travel Index compiled by Business Travel News, a businessman on average spends $319 traveling per meeting . For any small business, Travel Time is an important aspect and must be taken care of with utmost sincerity. Once you understand the true worth of your services it will help you get paid for it more appropriately.  While you take steps to make a lot of your cost bearing services easier for clients, it is also important to realize the worth of money being spent on it. There are various methods that can be adopted while charging for the travel time and one can choose the most appropriate one depending on the business requirements. Every business owner has a variety of clients and one can understand the needs and requirements of each one properly, before choosing how much to charge them. Here are some popular methods you can adapt to know how much to charge the clients for the travel t...

12 Tips For Simplified Online Invoice Management for businesses

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  Every time a business sells goods or services, it is important to send invoices and receive payments for the same. The importance of invoice and payment management grows with the number of clients the business has. Most businesses, even though profitable, suffer from improper cash flow and invoice management. This poses huge challenges for business growth and expansion. Here are some important tips on Online Invoice management for managing your business more effectively. 1) Automated Invoice Processing A solution with automated invoice processing includes the simplified transfer of data from invoices. The process includes simultaneous interpretation and validation of invoices. Auto invoicing and  workflow management   help bring out the best of the resources invested in an ERP. A completely automated solution does not require resources to be manually involved.   2)  Make The Payments Process-Simple This is a useful technique for managing invoices effectiv...
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  The 4 most common reasons why #smallbusinesses fail are a lack of sufficient capital; poor management; inadequate business planning; and overblowing their marketing budgets.  But there are many more than 4 reasons why early-stage businesses in this country don’t survive.  Watch the video to decode the top reasons why businesses fail! Read the complete guide here Sign up for free Follow us on: Instagram: https://www.instagram.com/invoiceraonline/ Pinterest: https://in.pinterest.com/Online_Invoice/_created/ Facebook: https://www.facebook.com/invoicera​ LinkedIn: https://www.linkedin.com/company/invo… ​Twitter: https://twitter.com/Invoicera

7 Features To Look for in A Legal Billing Software

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Are you losing money on a regular basis because you don't have a reliable payment tracking system in place? You are not alone; 60% of #LawFirms are facing similar issues. The next generation of #LegalEbillingSoftware that adapts to your needs is now available! In just a few taps, you can handle your #LegalInvoicing, timesheets, estimates, staff, clients, and more Tap the link to know more:  https://bit.ly/3oOeaFp Follow us on: Facebook: https://www.facebook.com/invoicera Twitter:       https://twitter.com/Invoicera Instagram:  https://www.instagram.com/invoiceraonline/
9 secrets to overcome software estimation challenges Attempting in advance to completely quantify the costs of every effort that will go in designing a project is not an easy business.  According to a report from the Project Management Institute (PMI), over 14 per cent of IT projects fail. The further bifurcation of the failure helped us find out the reasons behind such a massive failure rate. 49% of projects failed to make it on time to the client, 31% failed to meet their goals, and over 43% of projects exceeded the budgets they were finalized on.    Based on our constant client communication and witnessing lack of understanding towards estimation, here we have gathered 9 secrets that magically eradicate errors from estimates when used by the wise men wisely.   1. Include people involved in projects A realistic estimate is a blueprint for the entire project. Therefore, it becomes utmost important to include people who will be actually working on the project. I...

How to Streamline Utility Business Processes with A Customized Billing Software

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Creating numbers of #SubscriptionInvoices every day but unable to trace them or facing problems in handling your pending dues? It's all because of your manual #UtilityBilling! Make the switch to the ultimate #UtilityBillingSoftware and enjoy full #Automation of your utility business. Keep an eye out for more details. Read the complete guide here: https://bit.ly/3hSFUaL Follow us on: Instagram: https://www.instagram.com/invoiceraonline/ Pinterest: https://in.pinterest.com/Online_Invoice/_created/ Facebook: https://www.facebook.com/invoicera​ LinkedIn : https://www.linkedin.com/company/invo… ​Twitter: https://twitter.com/Invoicera
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  A guide to creating a professional  contractor  invoice Invoicing is a mandatory action taken by contractors to lead their occupation. As a contractor, you are involved into multiple projects at one time and all project has various billing terms and conditions. It becomes necessary to keep a track of their time involved in finishing the project. Contractors need to send invoices to the clients based on policies and time duration. Thus, having a proper format of Professional contractor invoices is important.   Types of Contractor Invoices Based on contract deals between the contractor and the client’s here are two types of general Contractor Invoice: Basic/Fixed-based Invoices  Performance-based Invoices Fixed Invoices The fixed-based invoices are based on payment clauses mentioned in the contract. The contractors release the invoice after the completion of the project. This type of contract includes some basic features as given below: Contractor’s Name Full Ad...

6 Benefits of Artificial Intelligence for Consultants and Companies

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#ArtificialIntelligence is one of the successful and fastest-growing technologies used worldwide. From large companies to online small businesses, AI is used by multiple entities worldwide. But what's the role of Artificial Intelligence in #ConsultingCompanies?  watch to know How are Consulting Firms Using AI?  

Top Trends Driving Growth of Subscription Economy and Ending the Era of Ownership

B uying patterns around the globe are changing significantly ever since the new work culture has come into existence. While millennials are constantly traveling for jobs and shifting to new geographies, ownership has certainly reduced for durable goods. Be ready to witness some more downfall in the graph in near future! But durable utilities are a need. How are people surviving without them? “With the end of ownership” does not signify the end of usage. The buying behavior is taking over the market with “Subscription”. A study conducted by the Harris Group also recently pointed to the fact that a huge chuck of population, around 57%, wished they could own a little less stuff from what they currently own. Ownership of products is slowly becoming obsolete with changing behavior, as lives are becoming nomadic day-by-day. Moreover, filling up houses with goods is also being considered liabilities. Do you know what is coming in trend these days? Why own when you can subscribe?! The mindsets...

8 Tips to Improve Your Accounts Payable Management

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  ‘A penny saved is a penny earned’ is a proverb in English. This brainy quote is enough to make you take your company’s accounts payable management more seriously. You must know that 82% of startups fail because of poor cash flow. Therefore, you should have a serious consideration of all factors affecting your cash flow. And, accounts payable is a very important one. For your business growth, only making handsome profits is not sufficient, you must spend every single penny wisely. If you don’t, then you will lose more than your earnings. So, handle your accounts payable carefully. Manual handling of AP consumes a great deal of time, as you have to correct innumerable errors, as humans are prone to errors. Therefore, banking on advanced AP management software is wise. According to some research , AP automation can help you save $16 or more, which depends on your company size. So, moving to advanced technology for the proper management of accounts payable is prudent an...

Custom Software Development for Manufacturing Company: How It Helps

  Do manufacturers need custom manufacturing software ? The manufacturing industry has to deal with various kinds of problems and challenges. Every industry and other sectors have different customers according to their needs & demands. We have realized one thing: no one software fits every organization’s needs. Every organization has a unique custom of its product based on client needs. Between all the complexities involved with machinery and all the interactions between employees, managers, and customers manufacturing companies need more from their software than standardized options can offer. They need software that can balance all these challenges accurately and effectively. So, follow this blog to know more about the challenges that the manufacturing industry face and its solution. According to  PWC's 23rd Annual CEO  Survey report, the major trends in industrial manufacturing in 2020 were: CEOs prioritize the increased use of artificial intelligence (AI)...

5 BEST PROJECT MANAGEMENT SOFTWARE FOR CONSTRUCTION INDUSTRY

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  Having appropriate systems to monitor your progress and activities is essential because it helps you manage projects and clients successfully. It’s especially important in the construction industry to choose a user-friendly project management tool for internal and external stakeholders. Construction project managers must address the various factors that trigger delays, develop workflows, and ensure that all specifications are met. Tracking subcontractors and suppliers to account for paperwork, labor, and lead times is a part of time management. Plan scheduling and monitoring strategies can help with these time management problems. Custom invoicing software also equally plays an important role because late payments can hurt a company’s cash flow. As a result, a well of funds for other projects can dry up and cause delays. You can solve these obstacles with the aid of an online project management platform. Contractors, construction managers, and owners may use the following projec...

Small Businesses Face 4 Common Communication Challenges Daily- Find Out What?

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Across industries irrespective of niche, uninterrupted coordination and communication are critical for achieving goals. But, small businesses no matter how hard they try, are somewhere incapable of maintaining required coordination and communication (in any manner) successfully. To, positively find solutions it is important to recognize these challenges in the very first step.  Find out some common communication issues to map preemptive measures, in time, for your business.  #1. The Inability to Facilitate Business Communications Effectively In a business, stakeholders are many. Thus the constant communication is the key, both internally and externally. Inside an organization, the communication between management and employees leads to tasks completion. Whereas, on the outside, impeccable communication with suppliers, customers, and partners is just a few.  The majority of companies rely on personal devices such as smartphones, laptops, and landlines for business pur...