Recent economic indicators are showing that despite all the news and updates that a recovery is under way a lot of small to medium sized companies are having problems finding steady work. Decreased workload usually means that some cuts have to be made. Since employee wages are a huge expense on the books of every company, to really cut down on costs it's necessary for a company to bring the number of employees down. This is a very unpopular measure, and should always be considered once all other options have been exhausted, but to save the company and those employees that do remain, some changes will have to be made. What happens do when business does pick up? How to manage additional workload then?
How to reduce staff costs and maintain the same level of productivity with hosted online invoicing
Predictions are being made that a recovery will come, and if you're on the fence now whether or not to reduce your staff, at least in the accounts payable department, you will be pleased to know that there is a way how you can both reduce staff costs, and also how to maintain the same level of productivity. Now remember what we're talking about here are accounts payable departments, and we're talking about using more advanced methods of how to manage invoices, the so called hosted online invoicing.
Hosted invoice management can help you out because it requires a lot less resources than what you would normally have to have. By resources we're here referring to office supplies. Sending invoices via email is much more effective than sending them via regular mail. You will save on a lot on paper that your company would need to use up for storage and management of invoices.
Now we're coming to the most important aspect of hosted invoice management, staff reduction. Normally when filing out invoices manually, it's a lot of work. You don't have a database of clients, you don't have a database of the goods and services that you're offering. All these things have to be filled out. Ultimately you have to fill out all the aforementioned values by hand. Hosted invoice management automates a lot of the tasks that you'd normally have to do manually, meaning your employees from the accounts payable department would have to.
With a combination of a hosted invoice management software and a reduction of staff, you can have both a decrease in expenses (hosted invoice management is usually very cheap), while at the same time you can process the same workload, in fact you can even process an increased workload, due to the gains in efficiency that hosted invoice management usually involves.
We hope that you now understand how with just a minimum of effort and a minimum investment you can both save money and improve the efficiency of the accounts payable department. If you agree with what we're saying, make sure to have a look at IntroBills as you're next hosted invoice management software.