If you deal with creating contracts, sending invoices, and collecting payments for your business, you have a lot on your plate. There are a lot of little details that can slip through the cracks. Keep your projects on the right track and manage payables and receivables with an integrated enterprise resource planning (ERP) solution.
You may provide similar products or services to multiple customers at the same time, but not each customer is the same. There are many different variables that set your customers apart, including product or service type and quality, customized pricing rates, shipping schedules, and other terms that are outlined carefully in your customer contracts. You can streamline contract creation, as well as keep customer details at your fingertips, by using the automation offered in Microsoft Dynamics® ERP. The streamlined reporting features make it easier to create customized contracts without having to start from scratch for each customer. You can also use workflows to route a draft contract to upper management for review and approval, send it to the customer, and update contract terms so that your entire team is working from the most current contract document at any point during project completion.
Microsoft Dynamics ERP also makes it easier to track personnel activities, billable hours, expenses, and associate billable items to the appropriate customer contracts. Your project managers can monitor the time and expenses for each project and ensure that projects stay within budget and are completed on time. Your team can also generate invoices, route them through project managers for approval, and get them to customers quickly, easily, and accurately. The quicker you get invoices out, the quicker you’ll get paid. Outstanding invoices can also be tracked by project managers or your accounting team to reduce the chance for collections.
There are a lot of details to remember when providing each of your customers with personalized customer service. You can’t possibly remember everything, all the time. Instead, rely on a powerful ERP solution to help you manage individual customer contracts, project activities, payables, and receivables with efficiency and accuracy.
Contact Kraft Enterprise Systems, LLC for more information about taking your contract, billing, and collections to the next level.