Techblog
Reduce paperwork to increase sales efficiency - Simplify quotations and invoices
Small and Medium Enterprises (SMEs) dealing with B2B sales often spend a lot of time generating and tracking quotations and invoices. But myBusiness Essentials Invoice makes the process a lot easier and simpler by helping business automate workflows.
Save time by doing everything within a single system
Many SMEs that deal with sales often spend a substantial amount of time creating quotations and invoices, usually in a Word or Excel document. It is then PDF-ed and sent to the customers via e-mail for their approval.
They then spend more time getting sales people to chase prospective clients and customers to approve quotations and invoices. If there were errors or changes along the way, the paperwork would have to be reissued. All these manual paperwork can take the sales team away from more productive work like looking for new sales leads.
Moving the quotation and invoicing paperwork onto a digital platform can help make it easier to manage, track and report the process. myBusiness Essentials Invoice is an app that offers a centralised system that makes the whole process easier and less time-consuming. SMEs are able to
- create and issue quotations and invoices from the app
- receive and track approvals of quotations from customers
- create scheduled invoices for recurring orders
- track and ensure consistency of paperwork across the entire sales team
- generate reports for the status of quotations and invoices across the company
Chase sales instead of following-up
The sales team of an SME are often tasked with tedious follow-ups with the multiple accounts they're assigned to.
Sales people have to follow-up with customers to request for their approval before they can close the deal. Often, tracking follow-ups can be pushed to the backburner - especially during peak periods where it can get easily forgotten. Sometimes, the sales team also forget to change and update the quotations and invoices according to the customer's wishes.
This process is simplified by myBusiness Essentials Invoice app that helps simplify the quotation creation and automate the follow-up process. The app has a centralised digital database of the business' customers as well as a digital catalogue of the company's products and services which further helps the sales team in the quotation creation process, by ensuring a standard pricing across all quotes by any salespeople.
After which, all you have to do is set up customised e-mail reminders if quotations are still pending customer response. Once customers have accepted the quotation, the platform automatically tracks it as approved.
When the job is completed, quotations are easily adapted into invoices for the team to send for payment.
Reporting Insights
By automating and simplifying the process of generating paperwork, sales teams and managers are able to spend more time evaluating their performance.
The app gives SMEs with monthly, quarterly and yearly insights into the health of the business' sales, acceptance rate of quotations and sales performance. These deep insights will help businesses make better decisions and constantly evaluate their performance. The app also has reporting features that allow SME owners and sales teams to constantly review open quotations, monthly value of open quotations and invoices.
Here are the advantages of using Essentials Invoice, as opposed to manually managing quotations and invoices:
Essentials Invoice | Manual processes |
---|---|
Centralise creation and management of quotations and invoices | Quotations and invoices are created individually, manually managed by individuals across multiple computers |
E. Invoice tracks and records quotation acceptance from customers | Acceptance for quotations by customers usually saved in individual emails or signed hardcopies |
Allows businesses to set up customisable e-mail reminders to follow-up with customers | Sales team has to manually follow up with customers |
Endorsed quotations will be automatically converted into an invoice upon completion | Invoices have to be manually created, resulting in potential errors |
Recurring invoices can be automatically generated | Recurring invoices have to be manually created and issued |
Generate monthly, quarterly and yearly insights into the health of the business' sales, acceptance rate of quotations, sales person and product performance. | Reports on sales results or individual sales person performance are often time-consuming and difficult to manually compile, especially when manpower support is minimal. |
All in all, the above tasks are time consuming, and managing it across a team becomes more and more difficult as there isn’t a centralised system to manage it. myBusiness Essentials Invoice:
- Provides an affordable, easy to use solution to help automate the quotation and invoice creation and issuing processes
- Makes customer follow-up a breeze with automated reminders
- Easily create quotations with a centralised digital customer database, as well as a digital catalogue of all your products and services
- Receive automatic quotation acceptance or rejections in real-time
- Helps business owners gain insights across the product and sales performance, and customers’ orders
- Gives sales staff the capacity to focus on selling to customers and provides bosses with an accurate team overview