New feaure of TRYTON ERP for recurring billing
Marc Redorta Jan 9, 2018
Every day there are more companies that have builded up their business over services that are billed on a recurring basis. The same invoices are issued every month, quarter or year, although for different amounts and services. These services are usually associated with office rentals, hosting, domains renewal, Software as a Service (SaaS), telephony, alarms, supplies, water and coffee... Amounts that may not be very important, but may mean the great bulk of company’s turnover.
In fact, in recent years many companies have reformulated their business models to enhance recurring billing schemes. The popular "flat rate" or subscriptions to online and offline services guarantee the customer control of the expense, and the provider has monthly, quarterly, semi-annual or annual income guaranteed.
But how much time does the provider spends preparing, reviewing, scheduling and issuing all these invoices? And to track the payment? What are the chances of error if all this work is done manually?
The disadvantages of manually billing
If your company invoices recurrently to its customers must to automate this process. The repetitive task of regularly billing for the same amounts and concepts to each client gives little benefita. In addition, it invites the generation of errors since because, in many cases, the only difference between one invoice and another is the date of issue and the reference number.
But we also find situations of companies that invoice recurrently but for different amounts and periods. There may even be customers from different countries. Faced with this scenario, manual billing is also not recommended: there is a risk of losing control of billing, and the possibilities of making mistakes multiply with the inconveniences that can entail both for the company and client.
And in both cases, the manual management of all these invoices makes it difficult to obtain an accurate view of the billing and revenue forecast, and, by extension, complicates the possibility of making the appropriate strategic decisions to grow the business.
A definitive solution
At NaN-tic we have developed a new Tryton ERP functionality thinking about these companies that invoice their services on a recurring basis. With this new feature, chiefs of departments can determine and schedule the automatic generation of these invoices, with the periodicity and amount they want. The tool is so flexible that it allows monthly, bi-monthly, quarterly, quarterly, semester and year billing. But there is still more, because the level of customization is practically total so you can set up invoices for calendar months or for 30 consecutive days, regardless of starting date. You can even issue the invoice before, during or after the end of the service period.
Another relevant aspect is that the feature also provides that in the same invoice there may be different services, with a line for each of them.
Finally, it also offers programming options for sending invoices. Apart from programming on a regular basis so that the charges reach customers on time (which they appreciate if they do not have the recurring expense automation module), Tryton ERP gives the option to schedule the start or end of billing at any time. This means that it is not necessary to schedule alerts or reminders of any kind, and once the registration or cancellation of the invoices has been set up, we can forget about the issue and the system will act for us. In this way a great time saving is obtained and the errors that can occur when this work is done manually are significantly reduced.
Thanks to this new functionality, creating invoices becomes an automatic work done by the ERP, freeing up time for the finance and accounting department to do higher added value tasks. And of course, everything is integrated into Tryton ERP to avoid any kind of duplication or mismatch.
Conclusion
In order to save time and errors and to better plan revenues and commercial strategies, Tryton ERP has a new feature to generate this type of recurring invoices in terms and parameters determined by the company for each client.
NaN-tic GUARANTEE
This module has the NaN-tic GUARANTEE. This means that it has been developed and/or tested and validated by NaN-tic and, therefore, we are responsible and is covered by the manufacturing guarantee we offer to our customers.
