6 Benefits of Faster Invoice Collections for Businesses — Hylobiz expedites invoice collections in UAE
What makes a business unbeatable?
Speeding up the invoice processing is the best way towards making a business invincible.
Advantages of faster invoice processing
Hylobiz, a Fintech of this era, can ensure faster invoice payment processing for businesses in UAE.
1. Connected ERP helps maintaining financial records accurately and invoice distribution and reminders gets completely automated
2. No chance of late payments
3. To improve cash flow
4. To maintain good relations with suppliers and with clients
5. To satisfy employees and make them free to concentrate on analysis and decision making
6. Saves from inappropriate payments and collections
How can I process invoices faster?
· Set payment terms clearly regarding fees and due dates,
· Set and mention the mode of payments,
· Clearly state the additional charges and penalties
Hylobiz ensures faster invoice processing in UAE: Key note
Hylobiz offers Connected Banking services, enabling businesses to integrate their ERP seamlessly, to collect payments digitally on time, to automate reconciliations on realtime and benefit from quick settlements.
Hylobiz as a Pricing and Payment gateway solution: Hylobiz is a plug and play portal, with Nil set up fee, NIL integration, NIL monthly cost. It’s a one stop single solution for all your business needs like invoice generation, connected ERP, Invoice reminders, Reminders via WhatsApp, SMS and email, integrated payment gateway, real time business health etc.
· create branded invoices,
· send invoices to your clients/ customers over WhatsApp, SMS, and Email,
· receive payments in multiple modes via Debit/ Credit cards, Net banking
· pay out digitally singly or in bulk to vendors
What is reconciliation of invoices?
Invoice reconciliation is the process of comparing and matching the outgoing and incoming invoices with the bank statements.
Why is invoice reconciliation important?
· To eliminate error
· To detect fraud
· To maximise the return on investment
· To maintain cash flow
What are the benefits of accounts payable automation?
· To reduce manual work like data entry
· To manage audit trails better
· To reduce duplicate payments and wrong payments
· To encourage secured payment system
· To track and compare payments and invoices.
· To save cost and time for late payments.
An accounts payable automation software or an efficient Fintech like Hylobiz can help in faster invoice processing with the aid of accounts payable automation. Automated reconciliation, quick settlements in just 2 business days and automated reminders are the other features on Hylobiz promising faster invoice processing and ensuring control of risks associated with invoicing.
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Read the blog originally published here : https://hylo.biz/6-benefits-of-faster-invoice-collections-for-businesses-hylobiz-expedites-invoice-collections-in-uae/