The Link Between E-invoicing and Customer Experience (CX)
What is customer experience (CX)?
CX refers to the entire relationship between a business and its customers. This includes any and all interactions between the customer and your business - even when it comes to month-end collections.
CX refers to a client's ultimate perception of your business based on every exchange—no matter how small. Why is this important?
Well, CX has the power to either build or break client relationships and customer loyalty, ultimately impacting your success. Now, although CX touches on almost every aspect of an organisation, one of the most frequent touchpoints between a business and its clients is often overlooked: the invoice.
But with invoicing methods rapidly changing, it's important to look beyond the standard, PDF or paper invoice and shift our attention towards e-invoices.
Streamlining financial operations with e-invoicing
There's no doubt that e-invoices drastically streamline financial operations, and from a business and operational perspective, e-invoicing leads to faster invoicing, reduced errors, improved cash flow management and significant savings in processing costs.
But how does this impact your customer?
Enhancing customer experience through efficient invoicing
Traditional invoicing processes perpetuate a workflow that eats productivity and ultimately leads to an anxiety-driven month-end crunch time' to ensure that invoices are sent and paid on time. Now, as important as it is to get paid on time, it shouldn't come at the expense of fostering positive customer experiences and building (and maintaining) healthy client relationships.
Due to the inherent traits of an e-invoice, the customer experience naturally becomes enhanced, empowering them with the ability to navigate the invoicing process with ease.
This improvement in communication and transparency between a supplier and the customer makes the entire process easier to navigate, understand, and less prone to errors. Not only is documentation easier to send out to clients, but clients can navigate them effortlessly and interact with the documents in real-time, collaborating with all relevant stakeholders.
Additionally, the right e-invoicing platform can facilitate comprehensive and automated payment allocation and remittance processes, allowing suppliers and customers to be rest assured of error-free and transparent invoicing.
A win-win: customers prefer e-invoicing
When it comes to invoicing, it's not just about the business benefits or regulatory requirements. It's about what your customers prefer. And the truth is, they prefer e-invoicing. Why? Because it offers improved transparency, leads to fewer disputes and rejected invoices, and ultimately enhances their overall satisfaction with your business.
E-invoices are also much easier for your customer to process internally and allow them to automate capture and linking of your document data. This, in turn, enables them to take advantage of early payment discounts, as a result of the faster payments and invoice approvals that naturally follow.
Solve CX challenges with System1A
With System1A, you can finally overcome the common AR challenges that have been causing you headaches. Our AR automation platform is designed to help businesses leverage the full scope of benefits that e-invoicing has to offer, and more. It's a solution that can transform your customer relationship management and streamline all your company's accounts, communications, deliveries, interactions, payments, receipts, and reporting.
Switch from strained customer relationship management to one application to manage all your company's accounts.
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