Product Update: Prospur’s Invoice IntegrationEditorial Staff
September 21, 2022
Most small businesses use MS excel to keep track of their marketing and sales activities. Their invoicing and accounts run on standalone systems, and any information between the sales and invoicing processes flows manually.
When customers are the biggest asset, small and medium businesses cannot afford to commit mistakes in handling the three verticals as silos.
Manually updating customer information not only takes a lot of time but is also prone to errors. Most CRMs for small businesses solve the problems with marketing and sales channels but exclude invoicing.
By integrating invoicing into the CRM, even small businesses that run on tight budgets can shorten the sales cycle with efficient reporting and error-free invoicing.
The Top Benefits of Prospur’s Invoice Integration:
Managing invoices should be digital, automated, and seamless. By integrating the CRM system with invoicing features, Prospur helps achieve all these benefits –
Integrating CRM with invoicing leads to faster workflows for your sales team and other customer-facing teams. It gives more time to the teams for their core job – selling the products and services. The sales team can be free from mundane tasks such as sales recording, processing, and sending information to the accounts team for invoicing.
#2. Cost Savings
Sales and marketing integration with invoicing reduces the time spent on each client in the long run. It lowers any manual work so that you can involve your team in other tasks for business growth. Invoice integration also eliminates problems due to incorrect and duplicate entries. This end-to-end optimization saves time and money for the company.
#3. Seamless Operations
By integrating sales and marketing modules with the invoicing features, you can achieve a seamless information flow. This gives a better view of the business and resolves any problems faster.
The marketing and sales teams are always on the same platform as the accounts team, with up-to-date records and tracking. Without a close link between the CRM and billing system, the sales flow can be disconnected, creating friction.
Why struggle with two different systems while booking an opportunity and creating sales orders for recurring subscriptions?
#4. Better Reporting & Analytics
You can access stronger and more robust analytics by creating, tracking, and managing invoices from the same platform that holds customer information.
The management team can have a comprehensive view of how the company’s marketing efforts are translating into the dollars earned.
#5. Improve Sales Forecasting
Identify opportunities and improve sales forecasts precisely by providing sales representatives with information on the revenue per customer.
Invoice synchronization, product usage, and payment data result in a 360-degree revenue generation picture on each account.
#6. Quick Access to the Billing Information
Get complete access to the revenue per B2C client or account in B2B business. Start capturing any revenue generation effectively as soon as a deal is won or a sale is made.
Provide your team with quick access to recurring revenue, customer lifetime value projections, outstanding invoices, product revenue, and receivable timing.
#7. Single Source of Truth
According to a study, 80% of sales team spends time inputting the same data into multiple systems. This not only wastes resources but also exposes the company’s processes to risks due to inconsistent data.
There are minimal chances of errors with the marketing, sales, and invoicing information in one place. When a customer asks for payment information, you can be sure that the data is the same at all process levels.
#8. Improve Customer Retention
Disjoint CRM and invoicing means that the customer-facing team will have to look at two different systems to serve a customer again in the future. The same happens in the case of conflict resolution.
It results in higher time for resolution and an overall bleak customer experience. With all the information in one place, the customer-facing team can solve problems or serve the customer faster in the future.
With the new invoicing feature, you can reap the critical benefits of maintaining a customer’s payment information within the CRM system. This gives a centralized and personalized experience to your customers and decreases the time your sales teams spend on each customer.