How Automated Invoicing In The Dump Truck Industry Can Revolutionize Your Business
The trucking industry, despite its feats in design and engineering, has not always invested in the technology required to ensure long-term success in an ever-evolving marketplace.
We’re here to change that.
Does this scenario sound familiar?
Your accounts payable department is swamped with paper tickets. Your operators need to be paid before you have been paid. Meanwhile, you’re waiting on payment from the customer, and cash is tight as a result.
If you’re frustrated with paper ticketing and the toll it’s taking on your business, you need to consider automated invoicing.
Understanding Cash Flow Management
Before we discuss automated invoicing, it’s important to understand its role in the larger cash flow management system. Controlling your cash flow is a critical part of operating a business. Without a sufficient amount of cash, you can’t operate. And while credit is a short-term fix, it does not effectively help you manage cash flow in the long run.
It’s not uncommon for businesses—even successful ones—to have too much cash tied up in accounts receivable. This becomes an issue with liquidity, causing further problems with cash flow.
We’re on a mission to make paper invoices a thing of the past. With Iron Sheepdog, your invoicing will become faster, easier and more beneficial for all parties involved.
Why switch to automated invoicing? Here are our top four reasons:
It’s faster than traditional invoicing
The approval process is quick and efficient
There are fewer disputes
A Paperless Environment
The future of billing is paperless because it makes sense. It’s much cleanlier, records are easily stored and filed digitally, it’s better for the environment and it saves you money. In a time where we’re much more cognizant of what we touch, it’s never been a better time to make the switch to paperless invoicing. We promise you won’t miss that stack of paper on your desk.
Everyone Gets Paid Faster
Perhaps the most attractive benefit of automated invoicing is the time that it saves, meaning everyone gets paid faster. On average, paper ticket processing takes about 20 days, while digital, automated invoicing only takes about 3 days. That’s about an 80% increase in efficiency!
Additionally, critical payment data is stored within the Iron Sheepdog platform, making invoices and payments even faster. Drivers can even connect their bank account and can choose their preferred payment schedule.
Quick Approval Process
Automated invoicing makes repeatedly asking your accounts services team for updates a thing of the past. With our platform, payment data is stored, historical billing logs are filed and workflows are automated. This makes the approval process faster and easier, allowing your employees to waste less time on administrative work.
Finally, automated invoices lead to fewer disputes between haulers, clients and your business. With Iron Sheepdog, all of a project’s data is saved and is easily accessible to download. This information allows everyone to better understand overall cash flow.
We understand that this industry has many moving parts, which is why we’re bringing our extensive knowledge of construction and trucking to the Iron Sheepdog platform. Getting your business connected with automated invoicing will save your business time and money, while ensuring a long and mutually-beneficial relationship with your clients.
Interested in learning more about the Iron Sheepdog platform? Click here to discover how your business can save 10 - 15% on dump truck hauling in your first year.