Speeding up with Xero’s Invoicenow
PulseActiv Case Study
PulseActiv is an events company that has created a niche for itself in the arena of team bonding and team-building activities for professionals. PulseActiv understands that no two client are the same. Hence, each company client gets a curated program line-up that is tweaked to meet the needs of the organization.
With more than 800 client accounts that consist of over 1,200 event activities, PulseActiv sometimes faced accounting issues such as :
- Trouble keeping accurate tabs on their cash flow for their clients and well as suppliers.
- Human errors faced by overwhelming manual data accounting
InvoiceNow is free software that PulseActiv added to their Xero account.
With InvoiceNow, PulseActiv is able to :
- Streamline up the invoicing process
- Facilitate faster payments
- Minimize errors with an automated process
How InvoiceNow Works
Sender creates an invoice in Xero
Invoice is transferred to the recipient via the secure Peppol e-invoicing network.
Customer will automatically receive the invoice on their own accounting system for their approval and payment.
Benefits of InvoiceNow
InvoiceNow is a quick and hassle-free process. With InvoiceNow, PulseActiv has greatly improved its internal invoicing processes. The seamless approach also means that PulseActiv does not have to implement a major overhaul on its current workflow. This helps their finance team to fully shift to using InvoiceNow without facing any disruptions.
Below are some benefits of InvoiceNow that PulseActive enjoys as well:
Invoice is delivered directly to the client’s and suppliers accounting system.
The Invoice is transferred to the recipient via the secure Peppol e-invoicing network.
Efficient Time Management
With automated workflows, you do not need to spend so much time on menial admin work.
Accuracy in Accounting
InvoiceNow reduces the need for manual data entry, helping to eliminate human errors.
Punctual Payments Received
The streamlined process means little time downtime in terms of waiting, resulting faster payments.
With the encrypted Peppol system network, only parties with valid digital certificates can communicate with one another.
6 Rewards of invoicenow enjoyed by PulseActiv
As a Xero partner, PulseActiv has enjoyed the many great benefits that Xero has to offer, particularly with the InvoiceNow feature. Since implementation of the feature, PulseActiv has experienced the following benefits:
Faster Payment Cycle
Xero has corroborated this benefit as its data show that companies who started using InvoiceNow receive payments up to 25 days faster than those that do not.
The Peppol framework is being adopted in many markets beyond Europe. This ensures that PulseActiv can conduct business internationally, such as overseas team building retreats.
With InvoiceNow, PulseActiv minimizes the need for physical invoices, and plays a part in the worldwide effort in improving climate issues.
Using a standardized format, InvoiceNow is paperless, effortless and seamless, resulting in smoother invoicing processes.
Stronger Business Relationships
The efficient invoicing process helps with making timely payments. Thus, PulseActiv was able to build and develop trust and credibility with their clients and suppliers.
Improved Cash Flow Management
InvoiceNow frees up working capital which allows PulseActiv to make astute financial decisions with healthier cash flow and improved revenue.
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Get Your Business Ready
Xero has helped many businesses with all their bookkeeping and accounting needs. With a cloud-based system, it is much easier to manage your e-invoices. Furthermore, a strong audit trail ensures that each invoice is trackable.
Whether you are already a Xero-partner or not, get in touch with us to share the accounting needs of your business. We will advise you on your next best steps.
Value your business today!
Felton Management is a professional one-stop solution service provider provides a complete suite of services that address all aspects of setup, start-ups and ongoing administration of your business entity, including accounting, taxation, corporate secretarial and consultant.