Microbusiness owners rely heavily on timely receivables. The sooner your client has the invoice in-hand the faster you could see that money in YOUR hand. Sending invoices by e-mail shaves days off invoice aging which gives your client the opportunity to send payment the same day this invoice is received, thus increasing your positive cash flow. If you are still printing and mailing invoices, the following list may convince you to seek e-mail addresses from your clients:
1. Cost: The savings add up quickly.
- Ink – great looking PDF/e-mailed invoices – no printing costs
- Paper – unless, of course, you have stock in pulp factories
- Envelopes – (see reason above)
- Stamps – prices are already approaching $0.50 a pop and the climb will continue
- Gas – reduce trips to the post office/mailbox and office supply store
2. Time: Spend more of it growing your business.
- annoying printer issues
- folding invoices
- stuffing, sealing, stamping invoices
- driving to post office/mailbox
- additional mail delivery days for invoice aging
3. Environment: Green-up your operations.
Spare the need for:
Clearly there are some big advantages to paperless invoicing. Today most clients should willingly opt-in to receive invoices by e-mail since it is faster and more friendly to Mother Earth. However, some clients reluctant to make the switch from paper to electronic invoice delivery will require creative strategy. Consider offering a small discount to the clients willing to make the change. Suddenly everyone has incentive to decrease invoice aging!