Everyone with any experience around technology understands that automation is a good thing. In the IT industry, which relies on efficient use of scarce resources −skilled tech professionals – the value of connecting critical systems is even higher. When MSPs properly configure and integrate essential applications of business for themselves and their clients, it creates a plethora of benefits for not only those who use these technologies but for those who rely on their service and support.
From employees and customers to accounting firms and suppliers, automation helps everyone by streamlining and speeding up communications and simplifying operations. Workers are an invaluable resource, and putting people only where they are genuinely needed is business-critical today. That helps explain why the World Economic Forum predicts that machines will handle more than half of all workplace task hours by 2022 (compared with 29% less than two years ago).
Automated billing systems are great examples of that trend. These applications can automate time-consuming steps in invoicing and collections, from generating and sending bills to accepting clients’ payments in a secure repository. Automated billing systems efficiently manage these processes and save companies both time and money.
Since professional services organizations tend to be very labor-intensive and rely on the expertise of many individuals to support numerous clients, automation is the key to success. Their growth is highly dependent on expanding their human resource capital, and these types of technologies can minimize their hiring needs (and the associated payroll costs).
MSPs fit that scenario and often use automated billing systems to ensure the most efficient use of their high-cost workforce. Of course, productivity is not the only benefit that providers derive from these applications.
The other advantages of automated billing systems
MSPs are masters of the high-tech world, but, much like cobblers being the last to get new shoes, these companies focus so much attention on their clients that they have little time left to make internal business improvements. Implementing tools like automated billing systems in an IT services firm can ease the burden and let you focus on upgrading other parts of your operations.
The totality of the benefits makes these solutions a wise investment for MSPs. Unfortunately, with all the noise in the channel and things providers get hit with every day, it is all too easy to overlook the many advantages IT services firms gain by implementing automated billing systems. Now is the perfect time to evaluate what these solutions can mean for your business.
The three most overlooked advantages of automated billing systems include:
1. Continuity. No one should confuse a financial application with a data restoration service. However, automated billing systems, once implemented, operate with autonomy, and ensure that your team can focus on critical client-facing issues. They generate invoices and receive payments reasonably effortlessly. Automated business systems can track and document business activities and safeguard the collections process, lightening the load for employees and the management team, especially when everyone is busy dealing with emergencies or the next “new normal.”
2. Brand Building. Clients do judge your business by its tools. Automated billing systems show your company is not just professionally managed, but a serious entity that will employ similarly beneficial tools to support their operations. The technologies MSPs use are part of their image. Company-branded automated billing systems are professional touchpoints for your clients, keeping your name and logo front and center while demonstrating your commitment to automation.
3. Improve customer satisfaction. No one likes a poor collection process. Automated billing systems ensure your clients know what they owe and when payments are due and allow users to instantly review current and past invoices, reducing, if not eliminating, potential confusion and anxiety. Consider these applications self-service portals that are essentially extensions of MSPs’ accounting and collections departments. Automated billing systems give your clients more control and greater visibility and cut down on those email and phone conversations between both parties that can so easily go wrong. In today’s self-serve world, these technologies can help boost customer satisfaction levels for MSPs.
Don’t forget the efficiency of automated billing systems
This is the part no one forgets. Automation eliminates those time-consuming steps that take valuable resources away from MSPs’ other valued operations. Why have techs and engineers making collections calls and getting distracted from more important activities when automated billing systems are so cost-effective and easy to implement?
These time-saving solutions not only deliver a quick ROI from payroll savings, but they make it easier for MSPs to scale their sales and collections capabilities—no need to expand the accounting team or tax other employees with invoicing and responsibilities. Automated billing systems can handle those tasks with no extra effort.
Why not enjoy all those benefits in your MSP business? Check out ConnectBooster and let automated billing systems improve your collections processes today!