More centralized invoice management has a lot of advantages over the heavily departmentalized ways of doing things. Main advantage is of course that all the various departments within you company can manage and process invoices a lot more effectively than they would otherwise be able to do since, they have everything available in a single place, without your employees having to track down documents that they need to close the deals that they're working on.
Speed up invoicing with
Accounts payable department working separate from the rest of the company means that all the other departments will have to look up documents and confirmations that a certain payment has been made. What this means is that valuable time is gonna be lost doing things like contacting the accounts payable department, submitting requests, etc.
A centralized invoice management means that your company uses a central server, a central hub that all the important employees can access and from where the invoices can be managed. What I described just now is basically what hosted invoice management is.
Larger companies, and most definitely corporations use their own, self-hosted, invoice management services which allow them to have better control over created invoices. Setting up a central server for running a self-hosted invoice management service might prove to be a bit too costly for smaller companies, especially when you take in the account the fact that we are currently going through though economic times.
Self-hosted invoice management might not be the thing that's required by smaller companies, and they should then avoid it, but there is a way how smaller companies can enjoy in advantages of self-hosted invoice management (it's centrality), and that is by using online invoice management.
With online invoice management all your invoice processing is kept on a server that's not your own (downside is privacy/security), but this makes costs of managing the server very low, for you. In some cases it's even a good idea for you to look up free web invoicing, but other times (in case of increased volumes of work) it makes sense to have a more professional hosted invoice management setup.
By using hosted invoice management services like IntroBills, you get all the advantages of centrality that self-hosted invoice management offers, without incurring the high costs of purchase, installation and maintenance of your own server. Costs are very small, but you get a top-notch centralized invoice management software for your company. Think about it, give it a try or contact us if you happen to have any questions.