Field Service Software
Service companies spend countless man-hours and dollars generating and processing field tickets. If these field tickets are incorrect, they generate inaccurate invoices. Inaccurate invoices most times get kicked back, creating more hours of manual work to uncover the correct information. Or even worse, an inaccurate invoice might have billable items left off, causing revenue leakage. This is why projects that automate the quote-to-cash process have the potential for a big payoff. Let’s take a closer look…
The Quote-to-Cash Process
The quote-to-cash process involves many departments– sales, account management, order fulfillment, operations, billing and accounts receivable. It considers the steps taken from when the sales representative creates a quote and drafts a proposal through to when an invoice is submitted to the customer.
In a manual world, the quote-to-cash process begins when a customer requests service via phone or email, then sales generates a bid which the customer approves. The information is sent to operations via email or Excel spreadsheet. Dispatch may call around to see who’s available to do the work. The technician has a paper ticket to document the work he’s performed, which he then drives or mails to the home office where accounting will rekey the information into their invoicing system. The entire process has many touchpoints and involves several people. With each touchpoint there is a potential for error. In addition, there are many opportunities for delay which can lead to higher days sales outstanding.
By moving to a streamlined, digital solution service companies reduce days sales outstanding and get paid faster. Automating processes help boost production while ensuring accurate information from a single source at any time, improving cash flow.