Increase AP Productivity Using Recurring Invoices

When a customer repeatedly orders the same goods or services from you, you send them the same invoice, known as a recurring invoice. Depending on how frequently they collect, that is typically once a week or once a month. The information, goods, services, or customer data have not changed. The invoice is merely delivered to the same recipient at those regular periods; this is where invoice automation solutions can help.

For instance, you could create a recurring invoice sent out each month for a customer who regularly orders the same five goods from you. Then, you won't have to spend time creating a new invoice each month after that. Instead, you can just email the client a copy of the same invoice with the help of invoice automation.

Recurring invoices can be sent automatically with the help of an invoice processing company like Skyscend, further streamlining the procedure. Even better, invoice automation will recall to submit invoices for you.

The advantages of using recurring invoices

Recurring invoices are particularly practical because the provider does not need to wait for the client or enquire about payment information. The client is also exempt from having to send manual payments regularly. Other advantages of setting up regular bills include the following:

1. Improved cash flow:

They guarantee a consistent monthly income, allowing the company to cover costs such as payroll and other obligations. A constant flow of monthly payments is facilitated via recurring invoicing. They help you generate more cash monthly, so you have enough to pay your bills and run your business.

2. The payment process is automated:

A company can set up a plan for sending invoices on time, create an invoice once, and attach the customer's credit card information to that with the help of invoice automation. This will lessen work duplication and provide you confidence in getting paid on time.

You can examine recurring invoices before sending them using an invoice processing company like Skyscend. It works best for clients whose monthly invoice amounts vary.

3. Better relationships with customers:

Customers will view you as their extended team rather than an ad hoc vendor because of your good customer relations, which can help you create recurrent partnerships. Your client is more likely to view you as a permanent member of their team rather than as an ad hoc vendor. This ongoing connection frequently serves as the foundation for developing anchor clients.

4. It takes less time to achieve payment:

You will spend a lot less time tracking down payments because recurring invoices and billing efficiently cultivate healthy habits to speed up payment. Additionally, your customers will gain as they won't have to worry about remembering to pay and won't incur any late payment penalties.

5. Regular invoices quicken payment

We are creatures of habit and used to pay recurring payments like rent, cable, and phone. You can encourage customers to stick to the same payment schedule by issuing invoices at regular intervals.

Are You Prepared to Use Recurring Invoices Now?

Depending on the mailing choices you select after setting up and scheduling your recurring invoice, it may be sent manually or using invoice automation. In addition, you have the option to alter, suspend, or stop the recurring invoice if you need to make a change. You can update this, for instance, if the price of a regular service or product has changed.

Setting up recurring invoices with an invoice automation solution provider like Skyscend is simple. You only need to enable the feature when creating a new invoice to get started. So avoid chasing down unpaid clients and see your bank account rise simultaneously.