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For the majority of IT service providers and managed service provides, the processes around billing and invoicing can be very complicated and difficult to get right. Typical complaints from clients can range from not having enough detail explaining what they are being billed for to excessive detail resulting in distraction from the real value you are delivering. In addition, timing your invoices can be complicated; some clients want to be billed at certain times of the month, while others want to pay for blocks of time up-front.
For companies with different billing rates for various staff and services, issuing the correct rate for work completed can be a time consuming challenge - and making a mistake can cause bad feeling with a client, particularly if it’s a recurring issue. Further, if you have multiple agreements with a single client, this problem becomes compounded.
The bottom line is, doing the actual work for a client is only be half the challenge. Billing them can be an expensive and time-consuming chore.
If you are spending more time on billing than with your clients you should be investigating how to incorporate automation into your business process. The key to success is ensuring the system you implement is flexible and customizable enough to produce the correct invoice for your clients based on their specific requirements with a high level of confidence in the billing accuracy and little to no manual intervention.
Here are five ways you can improve your billing process freeing you up to focus on client satisfaction and growing your business:
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