To survive in times of strong competition, the need to switch to new digital agency billing software cannot be neglected. Every now and then, a new technology comes along that makes business easier and complements your processes. If you are one of the companies that still want to keep your traditional way of doing business, how do you plan to compete with those who master a much more advanced way of working?
Reinventing business processes is a challenge that all digital agencies face. We have to understand that every company has its requirements, needs, and functions that define its works.
Here are some of the daily mistakes a digital agency makes in its billing and performance management:-
1. Late billing
Invoice creation is undoubtedly a major pain point for many digital agencies today. Creating a detailed invoice is a tedious task that involves a longer period of time. Despite being so labor-intensive, it is still not able to get rid of manual errors.
Besides being time-consuming, repetitive sending of invoices and credit memos becomes a mess. These types of invoices need to be sent over a period of time to maintain a stable cash flow. When they are delayed, this leads to a deficit in the account and thus becomes a serious problem for the accountant managing RA and AP.