Task coach invoices5/11/2023 ![]() For example, a suggested KPI could be the percentage of invoices that are 100% accurate and need no further attention or resubmission. It’s encouraged that finance/accounting departments use a variety of KPIs to efficiently measure their billing and invoice accuracy. KPIs are used to monitor and then measure against benchmarks to eliminate the root causes of billing errors or inefficiencies to identify potential issues. ![]() ![]() Invoice accuracy is measured by Key Performance Indicators (KPIs), and the goal is to not only track but improve billing accuracy. Read our article to learn more, Customer Experience: How to Achieve SMB Growth and Slay the Giants.īefore we get into some invoice accuracy best practices for any SMB, we’ll first briefly discuss what invoice accuracy is. However, once the sales reps complete the sale, the customer and the ongoing relationship will be maintained by your finance/accounting department nurturing the customer to provide the ultimate customer experience.īy the way, have you ever heard of the customer experience? It’s different from customer service. Typically, more significant emphasis and support are given to the sales department because after all, they’re the ones who made the sale. The trust can be a significant factor in retention of your customers as well as increasing net new clients at your SMB. Unfortunately, many businesses forget or are unaware of the simple steps you can take to ensure accurate invoicing, and how this accuracy builds trust. When you think of your finance/accounting department, what processes do you implement that support invoice accuracy, and why would it be that important to your small business? For starter’s inaccurate invoicing not only can be a pain point for your customers, but also a dark shadow on the relationship your employees have with your customers.
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