Transactional Document Distribution | Netsend http://netsend.com e-invoicing and e-billing solutions for business Mon, 15 Jan 2018 14:17:50 +0000 en-GB hourly 1 http://netsend.com/wp-content/uploads/2016/10/cropped-Netsend_Stacked_CMYK_square-1-32x32.png Transactional Document Distribution | Netsend http://netsend.com 32 32 How to Solve the Sales vs. Credit Control Battle http://netsend.com/blog/credit-control/how-to-solve-the-sales-vs-credit-control-battle/ Fri, 13 Oct 2017 15:56:44 +0000 http://netsend.com/?p=3262 The post How to Solve the Sales vs. Credit Control Battle appeared first on Netsend.

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It never ceases to amaze me that many squabbling factions can still comprise a successful business.  The case of sales vs. credit control is a classic example of this.

From the perspective of a sales person in a business whose main customers are credit controller departments, I’m privy to a unique perspective on this age-old divide.  In the most successful businesses, these two departments work seamlessly together – two equally valuable sides of the same process.  In businesses where this isn’t the case, there’s room for growth and improvement in efficiency when these departments are drawn together to work more effectively.


The Sales Perspective

As sales teams strive hard to win deals, it’s understandable that frustration is felt if credit control refuse to extend credit to close a deal.  Those who have worked in, or close to, a sales department may have heard inaccurate, but popular, reference to credit control as ‘the risk department’ or ‘order prevention’ at times.

There are many sales people out there who will go to great lengths to avoid involving credit control in the sales process – fearing they will shut down a promising deal, for undue worry about their ability to pay.

But stop and think about it.  If a deal is genuinely at risk of going unpaid, is it worth ‘closing’ anyway?  Credit control have no negative agenda, they are simply watchful to ensure credit isn’t overextended and cashflow is reliable.  So, let’s understand their side of the story…

The Credit Control Perspective 

Where credit control can be accused of being too cautious, the inverse can be true of their view of sales.  Credit control departments have to pick up the fallout from sales committing to working with unreliable clients who may struggle to meet invoice payment deadlines.

There’s a popular saying in credit control departments – “It’s not sold until it’s paid for”.  It’s no good winning the biggest deal, if the money can’t be brought in.  Businesses rely on cashflow, and it’s up to the credit control department to ensure that the money is brought in.

Understandably, it only takes a few bad experiences before credit control departments can be heard referring to members of the sales team as ‘sharks’ who will ‘sign anyone up, regardless of the risk’.

We should pause for thought here too, as how many sales people are educated on risk factors for payment, or encouraged to work collaboratively with credit control to ensure deals are landed that stand the best chance of success?

Reconciliation for Success

Reconciling sales and credit control, through better mutual understanding, and communication, is key to addressing any divide.  It’s common for businesses to focus on improving performance by training and educating within the narrow band of each employee’s designated role.  But great value can be achieved by interdepartmental training – particularly between complimentary departments such as sales and credit control.

Encouraging a tighter working relationship between sales and credit control will ultimately enable the business to chase more profitable business

Consider how much less time would be wasted if sales teams filtered out high-risk opportunities, which would be shut down by credit control anyway, before they progressed things too far.  Encouraging a tighter working relationship between sales and credit control will ultimately enable the business to chase more profitable business, more quickly, and ensure greater reliability in cashflow.  Benefits could also be measured in improvements in DSO or delinquency.

Taking the concept of sales and credit control collaboration further still, credit control could proactively furnish sales teams with information about any existing clients who have an uplift in credit-rating.  This would imply that they are growing, or at least present a lower credit risk.  Sales teams could use this insight to drive higher sales volumes with these clients.

Better Tools, Better Working

Tools such as credit information resources can provide inter-departmental value, as mentioned above, but what other tools exist to improve this working relationship?  At Netsend, we find that some of our clients rely on Netsend to provide deep insight into what is being sold where.  In some cases, detail of specific product sales, in specific locations, is only apparent from invoicing records.  Beyond this, our clients use Netsend to identify late-payers and address these, as well as calculating credit risks based in insight not available to credit information resources.

Sales teams can also benefit from knowing when a customer is facing payment reminders, so they can either hold back from trying to grow a troubled account, or even assist in the communication process to bring the cash in more quickly.

Ultimately sales and credit control are two sides of the same process, and both rely on the overall health of the business (i.e. cashflow) being optimal to ensure ongoing security and growth within their departments.  Working more closely together, and sharing data from appropriate tools and services, leads to a more efficient business and better working environment for all.

 

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Metrics to analyse Accounts Receivable performance http://netsend.com/blog/metrics-accounts-receivable-performance/ Tue, 01 Aug 2017 08:08:10 +0000 http://netsend.com/?p=3060 The post Metrics to analyse Accounts Receivable performance appeared first on Netsend.

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Measurement is the first step towards improving performance.  And measurement is only valuable in this regard if you’re measuring the right things.  Through the deployment of electronic invoicing, we help clients all over the world improve their accounts receivable performance, so we’ve established a clear list of the metrics that matter to determine performance improvement.

Browse the list below and evaluate your accounts receivable performance.  At Netsend, we can show you how significant improvements can be made in all of these important areas.  For instance, how The Guardian reduced their DSO by 2 days – read their case study here.

Days Sales Outstanding (DSO)

Probably one of the most important, and frequently measured, metrics for judging AR performance.  DSO is the length of time it takes to collect the money owed to the business.  Different industries, and different countries, have different average lengths of DSO.  One of the best resources for determining the average your business should be looking to meet, or improve upon, can be found in the quarterly Atradius Reports.

On average, in the UK, DSO is 31 days.  This is significantly better than the average of 44 days DSO across Europe.  With payment terms typically being in the range of 30 days, this equates to an average delay of just 1 day in the UK, but 14 days across Europe.

It’s important to realise that DSO can fluctuate significantly, so is best averaged over a year at least for general performance, or tracked more closely for regular late-payers and a means to chase sooner and shorten their typical delay time.

DSO is best contrasted against best possible DSO, with the goal of driving DSO down to as close to the best possible DSO as you can.  Best possible DSO is calculated as:

Best possible DSO = (current receivables x number of days in invoicing period) / credit sales for period

How to improve DSO?  One of the easiest ways to drive down DSO is to integrate with buyers’ payment systems and encourage automated payment – perhaps incentivising for payment within an acceptable timeframe.  Additionally, tracking invoice receipt and even intention to pay can provide an early indication of which customers’ payments will need to be chased down, and who is likely to pay on time.  At Netsend, our portal provides an easy route to track payments and our connectors provide deep integration with a vast range of payment systems and Value Added Networks (VANs).

Average Days Delinquent (ADD)

The measure of ADD provides insight into how effective AR processes are in collecting receivables on time.  ADD is calculated as:

ADD = DSO – best possible DSO

As mentioned in the section about DSO, above, it is important to use best possible DSO and actual DSO as comparative metrics – ADD provides exactly this measure.  Plotting ADD and DSO visually, over time, can provide an intuitive handle on performance fluctuations.

Collective Effectiveness Index (CEI)

CEI provides insight into how effective AR process are at collecting all outstanding money in a specific period (often one year).  CEI provides a quantitative handle on collections processes, rather than the more qualitative indication from DSO or ADD.

CEI is calculated as a percentage by:

CEI = (beginning receivables + monthly credit sales – ending total receivables) / (beginning receivables + monthly credit sales – ending current receivables) x 100

100% CEI implies a perfect collection process, so AR teams should strive for as close to this as possible.  Ongoing performance measurement should pick up any significant drops in CEI, as these indicate a problem with the collection processes.

CEI and DSO should move in different directions as performance enhancements are made to AR processes, such as e-invoicing or automation.  CEI provides an overall measure of quality of collection processes, rather than DSO or ADD which are measurements of time and reflect broader AR processes.

Accounts Receivable Turnover ratio (ART)

The ART ratio indicates cash flow and liquidity through a measurement of how frequently accounts receivable are turned into cash.  ART is measured over a period of time, typically a year.  ART is calculated as:

ART = net credit sales / average accounts receivable

As any CFO, CEO or senior financial role will be aware, cash flow is extremely important for the health of a business.  Free cash flow determines how much money is left to reward shareholders, or to reinvest for business growth.  Measuring ART keeps tabs on how effectively AR processes are supporting this.

Number of revised invoices

Whilst this isn’t a standard, formal, metric, the number of revised invoices generated over a given period is valuable to track.  This determines the quality of the outgoing invoices and can help identify needs to improve initial invoice quality through automation or better access to information.

And invoice revision that is required adds additional workload to the AR team, and time to the invoicing process.  AR automation is a proven approach to reducing inaccuracies in invoices and flows well into the wider remit of electronic invoicing.

Improving Accounts Receivable performance after measurement

Whichever metrics (hopefully all) you are measuring, you need to think what you intend to do with the learnings.  Determining that your DSO is well beyond your industry average, but without a plan to address this, measurement is meaningless.

Solutions such as electronic invoicing and AR automation present a popular route to addressing AR performance challenges.  The beauty of these solutions is that they support your existing AR team and processes, enabling AR teams to focus on more valuable work that can’t easily be automated or digitised.  The biggest threat to business success is, often, wasted time – at Netsend, our AR solutions improve productivity and enable you to focus on your business.

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Eradicating Negative Cash Flow http://netsend.com/blog/eradicating-negative-cash-flow/ Mon, 05 Jun 2017 08:56:32 +0000 http://netsend.com/?p=2776 By Arthur Kaufman, Independent writer and speaker  Let me start by saying I am eminently unqualified to write what you’re about to read.  I have no qualifications in finance, banking or the credit industry, nor any experience in running a business of any kind.   Even so, I am entitled to offer my thoughts or should […]

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By Arthur Kaufman, Independent writer and speaker 

Let me start by saying I am eminently unqualified to write what you’re about to read.  I have no qualifications in finance, banking or the credit industry, nor any experience in running a business of any kind.   Even so, I am entitled to offer my thoughts or should I say my wonder on the subject of credit, especially of a commercial and a personal nature, which together in the UK alone has reached the multi-trillion mark and which obviously worries many economists despite their lack of consistency in most other aspects of lending and borrowing money.

Negative Cash Flow a Thing of the Past

My wonder about such matters is as follows: If say, by any chance however remote, every business and person who had outstanding debts, whether for money owed on products, labour, loans or other commitments too numerous to mention, suddenly were able to settle all they owed and actually tried to do so, what would be the result?  Would it be good, bad, unpredictable or totally chaotic with no solution in sight?

The advantages of modern technology is that information can now move with the speed of light

Given that it would take a little time for all repayment transactions to go through (including penalties in cases of early settlement), the advantages of modern technology, where information can move with the speed of light thereby ensuring that on the ‘big’ day in question, everybody and every legally defined body would be free of debt, in line with the rare few who always pay their bills as soon as received.

For those worried over too much outstanding debt and often pressured (or chased) to honour what is long overdue, I suppose there would be instant relief.  For those firms or institutions who provide loans and credit, presumably they would be overwhelmed with more money than what they knew what to do with, even though the lack of cash flow would (at least in theory) be a thing of the past.

Déjà vu

If you’ve read this far, you will be aware that a state of ‘No Owe’ raises other problems.  Is having credit and its level increasing at what seems an unsustainable rate preferable to getting rid of it altogether, even if only temporarily?  In attempting to do so, would most businesses suffer beyond repair or, instead, then be able to have a good look at themselves, with a once in a lifetime opportunity of making a fresh start by allowing the best in their brain reserves to have a hard think about avoiding what could be another very black financial hole.

The system underlying this has collapsed under its own mass because of mismanagement, greed, or a seemingly uncontrollable momentum of its own, which occurred in the not so distant past.

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Transactional Document Distribution: The Fundamentals of Mass Mailing http://netsend.com/blog/transactional-document-distribution/transactional-document-distribution-the-fundamentals-of-mass-mailing/ Thu, 19 Feb 2015 14:36:18 +0000 http://blog.netsend.com/?p=185 Transactional document distribution is one of the most important tasks for a company. Everyday a multitude of documents require sending, and the way in which this is conducted affects the image a company projects to their client base. Transactional documents include those relating to a business transaction with a customer, usually a service which the […]

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Transactional document distribution is one of the most important tasks for a company. Everyday a multitude of documents require sending, and the way in which this is conducted affects the image a company projects to their client base. Transactional documents include those relating to a business transaction with a customer, usually a service which the customer has received. Web invoicing has revolutionised the way in which transactional document distribution is conducted in modern society.

Transactional Document Distribution is the main form of communication a company has with its customers and other businesses. Web invoicing gives a more professional service that that offered when using fax or post. Primarily due to the speed and ease of document distribution, and the way in which a customer can pay their invoice via a link which forms part of their invoice.

Web Invoicing: Keeping your Customers Happy

Transactional document distribution using web invoicing is pleasing to customers because of the speedy invoice arrival once sent. Both business and customer can improve their financial management and have the control over incoming and outgoing money which web invoicing allows.

Alternatives in Transactional Document Distribution

If a customer does not feel comfortable with web invoicing then transactional document distribution can be carried out by post using a folder inserter or fax. These methods of transactional document distribution are both as effective as web invoicing, but offer greater risks of document interception or loss en route to the customer. However, once received, post and fax can be seen as advantageous to web invoicing because the customer receives a paper copy of the document which can be pinned to a notice board, or left somewhere prominent that the customer will remember to pay it. Managing transactional document distribution by e-mail, fax and post can become complex, and outsourcing to a company such as Netsend can offer assistance to companies.

Storage of Transactional Documents

Once customers have been web invoiced, they have the ability to store their documents on their personal computers. Similarly, a company sending these documents will save them electronically using a network of computers. With transactional document distribution, document archives must legally be kept for a period of time. Computer storage is safer and easier to search and sort than paper storage of documents, which risk fire or water damage. Netsend can also offer advice on online document storage and archiving.

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Transactional Document Distribution in a Modern World http://netsend.com/blog/transactional-document-distribution/transactional-document-distribution-in-a-modern-world/ Fri, 09 Jan 2015 14:51:59 +0000 http://blog.netsend.com/?p=188 The post Transactional Document Distribution in a Modern World appeared first on Netsend.

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The distribution of transactional documents is a necessary feature of all modern companies. In order to achieve profit maximisation and gain a competitive advantage, this should be done as efficiently as possible. Post, fax and e-mail are all methods used in today’s world for transactional document distribution; although it is generally accepted that e-mail transactional document distribution using web invoicing is the most efficient of these.

What are Transactional Documents?

Transactional documents are any documents relating to transactions which have been made between businesses and their customers and clients. These include service statements and invoices to request payment for a service. Transactional document distribution refers the way in which transactional documents are distributed to customers. Recently the internet has begun to dominate this field, with many customers and clients finding themselves web invoiced for services they have used.

Web Invoicing in Transactional Document Distribution

Web invoicing is an extremely popular method of transactional document distribution. Web invoicing uses the internet to send a customer their invoice, or a link to their invoice, as soon as it becomes available. This offers convenience to clients and customers, who can then pay that invoice without delay. Web invoicing is also a convenient way for businesses to conduct transactional document distribution as documents are sent automatically, so fewer personnel are required.

Web invoicing also offers companies an environmentally friendly way for transactional document distribution to be carried out, as does not require document printing. Prior methods of fax and post would always result in a paper copy of an invoice being sent to a customer. Being eco-friendly in environmental document distribution is essential for a modern company as it is something to which customers may look when choosing you as their service provider.

Following from this point, it can be seen that web invoicing is a cheaper method of transactional document distribution. Automated document sending means money does not need to go into printing, paper and postage costs.

Outsourced Web Invoicing

Web invoicing may be outsourced to another company in order that it is carried out efficiently. This will avoid customer and service disruption for your business. Transactional document distribution is an important part of your business, and its outsourcing allows a better quality of service. A company to whom transactional document distribution could be outsourced is Netsend. This company have been managing transactional document distribution on behalf of other businesses for many years, and are well equipped to satisfy your postal, fax, and web invoicing needs.

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Transactional Document Distribution and your Phone Bill http://netsend.com/blog/transactional-document-distribution/transactional-document-distribution-and-your-phone-bill/ Tue, 19 Aug 2014 14:55:18 +0000 http://blog.netsend.com/?p=190 Transactional document distribution is the mailing of transactional documents to customers like you. Your phone bill is an excellent example of a transactional document because it is a document summarising a transaction between you and your phone company – you buying their services. Transactional document distribution can be carried out by post, fax machine or […]

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Transactional document distribution is the mailing of transactional documents to customers like you. Your phone bill is an excellent example of a transactional document because it is a document summarising a transaction between you and your phone company – you buying their services. Transactional document distribution can be carried out by post, fax machine or using web invoicing, by e-mail.

Your Phone Company’s method of Transactional Document Distribution

As stated above, the method of transactional document distribution can be by post, fax or e-mail. All of these are valid options for you; however, since the development of web invoicing it has become apparent that e-mail is superior to fax or post.

Web Invoicing

If web invoicing is already your phone company’s desired method of transactional document distribution, then you will be familiar with its advantages. Being web invoiced allows you to view your phone bill as soon as it is dispatched to you, using the internet. Transactional document distribution is required by law to comply with the data protection act; so your details are in no way accessible to anyone but you on the internet. Web invoicing will either send you an e-mail with your basic statement, or an e-mail link to your account with that company, where your statement is accessible.

Many customers prefer web invoicing as a method of transactional document distribution because of the ease in paying that invoice. Often web invoiced customers will be sent their statement with simple link allowing them to pay for their services immediately, through a protected page on that company’s website.

Why is Web Invoicing a better method of Transactional Document Distribution?

Compared with e-mail or fax, web invoicing will quickly become a preferred transactional document distribution method. The speed and convenience of web invoicing is clear from the instant arrival, once sent, of transactional documents; and the way in which they can be accessed using the internet.

Transactional document distribution by post is also less secure in terms of the potential interruption of your phone bill on its way to you. This could be to loss, damage, theft – or even that it was accidentally unsent in the first place. Transactional document distribution by fax or web invoicing is better, as the company sending your phone bill actually receive electronic confirmation that the document has been sent and successfully arrived at its destination.

A limitation to web invoicing could be that it is more difficult to set up than other methods of transactional document distribution. Advice on web invoicing and other transactional document distribution techniques can be found on the Netsend website.

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Transactional Document Distribution: How the Post Office could be losing out to Web Invoicing http://netsend.com/blog/transactional-document-distribution/transactional-document-distribution-how-the-post-office-could-be-losing-out-to-web-invoicing/ Thu, 19 Jun 2014 14:58:56 +0000 http://blog.netsend.com/?p=192 Transactional documents are those sent out by companies, to customers, in relation to a service which has been received. As these documents often facilitate for that service, transactional document distribution is very important to a company and should be carried out as efficiently as possible. Comparing Web Invoicing and the Postal Service for Transactional Document […]

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Transactional documents are those sent out by companies, to customers, in relation to a service which has been received. As these documents often facilitate for that service, transactional document distribution is very important to a company and should be carried out as efficiently as possible.

Comparing Web Invoicing and the Postal Service for Transactional Document Distribution

Speed of Delivery

Transactional document distribution should be as fast as possible as this will smooth the progress of a speedy payment. Fast invoice payment is essential for the problem-free running of a company and credit control. Using web invoicing for transactional document distribution allows invoices to arrive with a customer as soon as the ‘send’ button is clicked. This is also true of transactional document distribution using a fax machine. Web invoicing therefore enables a customer to receive their invoice up to 3 days sooner than they might if sent using the post.

Speed of Payment

If transactional document distribution is fast then the payment of invoices contained in those documents will also be. Web invoicing enables invoices to provide a ‘Pay right now’ link, which would take a customer to a secure payment page. In this way, web invoicing conveniences businesses, who receive payment sooner, and customers, who can cross that invoice payment off their ‘to do’ list.

Transactional document distribution using a fax machine or the post does not offer this; although these invoices can contain the URL address to the secure payment page. Invoice payment methods which rely on post or telephone are more time consuming for customers and in some ways are less secure.

Security

As transactional document distribution concerns money, document security is highly important. Web invoicing offers a secure sending and payment method, as it does not allow customers to view their documents without first verifying their identity. Web invoicing as a transactional document distribution method is highly secure when compare with post. Transactional document distribution by post requires the invoice to travel via a third party, to an address whose security is unknown. Transactional document distribution by fax also does not require the recipient to verify their identity; meaning that web invoicing is the most secure method of transactional document distribution.

The ability for a company to outsource transactional document distribution is playing a role in keeping the postal service in business. A company such as Netsend could happily balance web invoicing with fax or postal invoicing, where a non-specialist business might struggle and abolish postal invoicing.

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How Web Invoicing is used in Transactional Document Distribution http://netsend.com/blog/transactional-document-distribution/how-web-invoicing-is-used-in-transactional-document-distribution/ Sun, 06 Apr 2014 15:01:46 +0000 http://blog.netsend.com/?p=194 ‘Transactional document’ is the term which broadly describes the mail you receive in association with a purchase (or transaction) you have made from a company. Transactional documents include invoices, statements and receipts of purchase. Therefore transactional document distribution is the act of distributing these to you. In the past 10 years web invoicing has improved […]

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‘Transactional document’ is the term which broadly describes the mail you receive in association with a purchase (or transaction) you have made from a company. Transactional documents include invoices, statements and receipts of purchase. Therefore transactional document distribution is the act of distributing these to you. In the past 10 years web invoicing has improved transactional document distribution by allowing it to be carried out electronically via the internet.

How was transactional Document Distribution carried out before the internet?

Before web invoicing was available, transactional document distribution was done by fax or using the postal service. Although this was an equally effective way for transactional documents to reach you, the postal service proved expensive and time consuming. Fax machines provided better transactional document distribution, but were limited in who they could reach, as a fax machine is not always a feature of every home.

Environmentally, post and fax were flawed in their high usage of paper in transactional document distribution. At present, many billions of transactional documents are dispatched on a daily basis, much to the detriment of the world’s forests!

So web invoicing is a better method of transactional document distribution?

Yes, web invoicing offers a simple and environmentally friendly way for transactional documents to be sent. Web invoicing lets you receive your invoice via e-mail, so you can access it anywhere in the world. You are also able to pay your invoice online using transactional document distribution, which can be convenient in your financial management as payments are often transferred in real time – or with a maximum delay of 2 working days. This is better than waiting for the cheque you have sent to be processed by your company.

I am not currently receiving transactional documents electronically, how can I start?

Firstly, you must check that companies you interact with offer web invoicing for transactional document distribution. Some smaller companies may not, however larger ones will. If you are currently receiving transactional documents by post or fax, you will need to access your company’s website and make a request to be included in their web invoicing system. This can be done by sending an e-mail; alternatively there may be a section on their website for you to register your requested change. This may take a few days (or even weeks) to register, as it is possible your company has outsourced their transactional document distribution needs to a business such as Netsend.

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Transactional Document Distribution in a Growing Company http://netsend.com/blog/transactional-document-distribution/transactional-document-distribution-in-a-growing-company/ Thu, 13 Sep 2012 15:07:05 +0000 http://blog.netsend.com/?p=196 Transactional documents are those which you send regularly to your customers. They include invoices, statements and dunning letters. As your primary communication with customers, your transactional document distribution method will be important in the image you portray to them. A Web Invoiced Customer is a Happy Customer Web invoicing is a system of transactional document […]

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Transactional documents are those which you send regularly to your customers. They include invoices, statements and dunning letters. As your primary communication with customers, your transactional document distribution method will be important in the image you portray to them.

A Web Invoiced Customer is a Happy Customer

Web invoicing is a system of transactional document distribution which will benefit you, and your customers. Web invoicing is the sending of documents to customers using the internet, as opposed to by fax or post. Transactional document distribution using the internet is a feature which should important to your company for several important reasons.

Technology: First of all, the ability to offer customers web invoicing as a way of transactional document distribution will make you come across better a company. Being able to show a customer that you are technologically aware and up with the times will give them a better overall view of your company, and give you an edge over your competitors.

Security: Web invoicing is a more secure technique of transactional document distribution than fax or post. Web invoicing sends invoices or invoice notifications using e-mail. This is instantly more secure as a customer needs to give a password to even view your e-mail. The invoice you send using web invoicing can easily be password protected also.

Usability: As well as transactional document distribution, web invoicing can also offer a simple and convenient way for your customer to pay their invoice. You can attach a link to that invoice to a safe payment page on your company website as soon as they read their invoice. This will benefit both you and them as it facilitates speedy invoice payment and can help you and your customer in money management.

The Environment: Transactional document distribution by web invoicing or fax means that you no longer need to print and post documents. This and other environmental practices in your office will make you popular with green minded customers. It also could gain you a high profile among other companies, who will aspire to exude a similar environmentally healthy image in the in transactional document distribution.

The above attributes to the use of web invoicing use in transactional document distribution should make it clear that if you are not already using web invoicing you may be missing out! More information on how to implement a web invoicing system in your office can be found at the following URL Netsend.

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Transactional Document Distribution and Web Invoicing http://netsend.com/blog/transactional-document-distribution/transactional-document-distribution-and-web-invoicing/ Sun, 29 Jul 2012 14:02:25 +0000 http://blog.netsend.com/?p=256 Transactional document distribution is a primary source of paper use in a modern company. Transactional documents are simply those relating to any transaction with a customer, fellow company, or even between departments of the same company. Traditionally transactional document distribution was solely carried out in postal form; however over the past 15 years fax and […]

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Transactional document distribution is a primary source of paper use in a modern company. Transactional documents are simply those relating to any transaction with a customer, fellow company, or even between departments of the same company. Traditionally transactional document distribution was solely carried out in postal form; however over the past 15 years fax and web invoicing have begun to replace post as easier, faster and cheaper methods of transactional document distribution.

Transactional Document Distribution without Paper

Using web invoicing, transactional document distribution can be carried out electronically. This lessens the need to ever print them onto paper, as they do not need to be sent by post. Web invoicing is also better than using a fax machine for transactional document distribution because a fax machine transfers document to customer in paper form; albeit not on paper from your office.

Web Invoicing

Web invoicing has become integral to transactional document distribution in the modern world. Web invoicing involves sending a customer their invoice using e-mail as opposed to fax or the post. This method of transactional document distribution provides a customer with their invoice as either part of an e-mail or as a link from an e-mail.

Transactional document distribution by web invoicing is not only a step towards a paperless office, but also offers a multitude of advantages for your company. Web invoicing is a more secure method of transactional document distribution because customers must verify their identity in order to view their document. This is done by asking the customer to answer a set of personal questions correctly before they can be transferred to their document.

Web invoicing is a faster method of transactional document distribution than post or fax. Because of this your company sends and receives payment for invoices more quickly. In this respect, web invoicing allows better financial management for you and your customers.

utsourcing your Transactional Document Distribution

The outsourcing of transactional document distribution is something which can give you a competitive advantage over a company who handles financial documents internally. Outsourcing transactional document distribution is also often cheaper than employing staff to run this and buying the hardware required for running your system efficiently. Also, if you do not have to worry about transactional document distribution yourself, you can put more time and effort into improving your services. The Netsend website can offer more information on this outsourcing of transactional document distribution.

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