September 30, 2024
Eric Joyner
If you want to provide a best-in-class experience to your customers—leading to high customer satisfaction and loyalty—it’s essential to understand what your customers expect when it comes to paying you!
Imagine receiving a bill that doesn’t reflect the basics, such as the correct amount due or additional information they may need to process it. Inaccurate invoices, whether the result of manual errors, outdated systems, or inconsistent invoicing practices, constitute a significant source of customer frustration.
Customers rely on timely and correct billing to manage their own cash flow and budget. When invoices contain discrepancies, customers are forced to spend time investigating the issue, creating unnecessary friction and payment delays. Even worse, frequent errors can erode trust and make customers question your company’s competence. It can also result in your company being at the end of a delayed payment when the invoice you sent isn’t paid on time.
Automation Benefit: Invoicing automation solutions can help ensure consistency and accuracy in invoicing by eliminating manual data entry errors. Automated workflows ensure invoices are generated and sent promptly, minimizing the risk of miscommunication and costly mistakes. They also ensure invoices are compliant with government regulations and that all the data your customers need to process your invoices is included.
With BlackLine, the system will track the entire journey, from invoice generation to delivery status, so your collection team can confirm invoice delivery as the first step and minimize customer frustration.
Customers will quickly lose patience if paying an invoice is complex or cumbersome. Requiring manual steps, dealing with incompatible payment platforms, or offering limited payment options can make a once-simple transaction feel like a chore. Customers expect a smooth, intuitive payment process—anything less can lead to frustration, late payments, or even lost business.
Automation Benefit: BlackLine’s Invoice-to-Cash eInvoicing & Payment solution offers self-service capabilities like online payment options and statement access to enhance customer convenience. Additionally, our system lets you invoice according to each customer’s requirements, ensuring all necessary data is present. The easier it is for customers to pay, the faster your company can collect revenue!
Customers want transparency in their accounts. Invoicing often lacks real-time visibility into the delivery status of the invoice. This can result in multiple customer requests for copies to be re-sent, alongside uncertainties about whether it was delivered and will be paid without the customer being called.
Automation Benefit: I2C automation offers real-time reporting and portals where customers can access their payment history and outstanding balances. This visibility reduces anxiety, builds trust, and makes it easier for customers to manage their obligations. Plus, it reduces the time your team spends chasing payments or responding to complaints.
Processing invoices and payments without automation can negatively impact customer loyalty and satisfaction. With BlackLine, you can simplify your invoicing processes with a scalable platform that delivers visible, trackable, compliant invoicing alongside a self-service customer portal for easy document management and online payments. Contact us today to see how we can help improve your I2C process and make your customers happy!
About the Author
Solutions
Consolidation & Financial Analytics
Modern Accounting Playbook
Company
© 2024 BlackLine Inc.