Use Cases

Vidi Vici Agency

Challenge

The accounting team at the Vidi Vici Agency faced significant inefficiencies due to manual processes and error-prone workflows. Every day, the sales team forwarded new orders and updates to accounting. Each transaction was manually entered into spreadsheets for daily revenue reporting.

Billing commenced on the 26th of the month so that all invoices would be sent out by the 3rd of the following month. Invoices from prior months were duplicated manually, dates were updated to reflect the billing period, and the amount to bill was calculated based on complex rules and quantities.

Impact

Time Consuming: Manually entering invoices into QuickBooks consumed five days each month.
Error Rates: Complex rating rules and exceptions led to miscalculations and inaccurate invoices.
Cash Flow Delays: Pricing inaccuracies required AR to cancel and reissue invoices. Wasting time and extending receivables.
Resource Drain: The accounting team was so mired in billing and reporting that they had little capacity left for other business tasks.

These challenges created bottlenecks in financial operations and strained client relationships.

Solution

Invozi was integrated with the order entry system to eliminate manually generating invoices. A rating rules engine automatically calculates the amount to bill for each product, taking a range of variables like legacy clients into consideration. Management has a daily financial report of new orders, cancellations, and changes.

Results

Time savings: Accounting is now able to focus on broader business goals.
Error reduction: Pricing errors were virtually eliminated, decreasing customer calls and improving satisfaction.
Recovered lost revenue: Over $120,000 in missed billings were identified in the first month.
Faster cash flow: Payment cycle was shortened by 2 weeks, accelerating the company’s financial operations.

With Invozi, the Vidi Vici Agency freed up valuable Accounting resources, achieved greater financial control, and is assured that everything is billed on time e.

18 Bridges Media

Challenge

The accounting team at 18 Bridges received billing reports from their sales team each month. Accounting duplicated and modified invoices from previous months for each client. Invoices lacked campaign-specific details, requiring clients to manually reconcile each invoice. This led to frequent client inquiries for clarification, creating inefficiencies for both sales and accounting teams. The invoicing process consumed two weeks each month, slowing cash flow and adding operational strain.

Solution

Integrating Invozi with the campaign management platform revolutionized the invoicing process by eliminating the need to duplicate and manually update invoices. Invoices include detailed campaign information, enabling clients to immediately understand their charges. Invozi alerts accounting team to new accounts and products, simplifying billing administration and reducing frustrations.

Results

Reduced inquiries: Clear campaign details in invoices decreased the need for clarification calls from sales and clients.
Time savings: Accounting now spends less than two hours each month invoicing, compared to ten days previously.
Accelerated cash flow: The ability to invoice weekly shortened payment cycles and improved the company’s cash position.

Streamlined processes have reduced stress in 18 Bridges accounting, improved client satisfaction, and allowed them to focus on strategic initiatives.

Are challenges like these affecting your business?

Manual processes: Entering invoices and creating billing reports consuming valuable days (or even weeks) each month.
Lack of detail: Customers call accounting and sales to clarify vague invoices, adding unnecessary back-and-forth and interruptions.
Errors and delays: Data entry mistakes cause payment delays, frustrate customers, and require accounting to cancel and reissue invoices.
Poor visibility: Limited insight into what will be billed each month makes forecasting difficult.
Missed revenue: Lack of control, siloed systems, and double entry results in billing oversights.