“Our invoicing processes are manual, but it’s not too bad. We probably can’t afford to automate our invoicing processes yet.”
Does that sound familiar? While you may want to automate your invoicing process, the cost to implement that automation seems like too large of a leap.
Though the cost of automating your invoicing workflows may feel intimidating, there are costs to staying with your manual invoicing processes too. These often-overlooked costs are sometimes even more expensive and risky compared to the costs of building in automation. Let’s identify the invisible costs of manual invoicing and why it may be more cost effective to automate your invoicing processes with your portal.
The Cost of Time
While your team may have perfected its manual invoicing processes, there is still a large cost for your staff members’ time. For example, your staff could spend hours manually following up with customers about unpaid invoices. When you factor in the cost of staff salaries, this is a high cost for manual work. Alternatively, your portal could automate those invoice reminders for you, so that you’re not spending salaries on time-consuming tasks. When you automate invoicing processes, you’re not just saving money. You’re also saving your staff time for more important priorities.
The Cost of Disruption
Think about all the times your team sent out an invoice, the customer couldn’t find it, and they asked your team to resend it. Every time disruptions like that happen, your team must drop what they’re doing, resolve the issue, and then return to what they were originally doing. Disruption damages your team’s productivity and increases the costs of staff time that’s spent on disruptive tasks. When you store invoice documents in your portal, customers can access them online any time. This eliminates the need for your team to resend invoices, greatly reducing the costs of disruption.
The Cost of Separate Secure Email Portals
Manual invoicing processes often require a separate secure email system for securely sharing invoice documents and personal health information (PHI). However, the HPS portal already has built-in security for invoices, PHI, and a Secure Mailbox for your customers to submit questions. Don’t pay extra costs for a separate secure email system when you’ll already have that built into your portal.
The Cost of Human Error
Unintentional mistakes can often drive big costs, especially when it comes to data security. For example, mistakenly sending the wrong invoice to the wrong customer can create unintended financial and reputational costs. When managing your invoices through the HPS portal, multiple levels of built-in security protect you from the costs of human error. The portal cannot eliminate human error. However, it will add layers of cross-checking to help you minimize human errors and the costs associated with them.
Manual processes, no matter how fine-tuned they are, are still much more costly than automated ones. They consume the costly resource of time, increase disruption and risk, and often require other costly technologies to support them.
Manual invoicing processes shouldn’t be weighing you down with visible and invisible costs. Use your portal to automate your invoicing workflows, cut costs, and operate more productively.
Schedule a Demo to begin reducing the costs of your manual invoicing processes using the HPS Invoice Management solution.