Electronic operations are hardly new in modern business. Going digital and paperless with rental software has become popular in the hire industry as well.

Hire businesses striving to modernise their operations need solutions that make them more efficient, more flexible, and greener—as a result, electronic operations are taking centre stage.

Amidst document processing, data entry, and automated customer relationship management, electronic invoicing stands as one of the most significant benefits for your hire business.

Handling invoices isn’t the easiest task and requires a significant amount of work on the part of your accounts department. Lost invoices that take too much time off your schedule, invoicing errors that mislead your finances, and storing stacks and stacks of old invoices—all require too much time, cost, and effort.

So how does electronic invoicing act as an anecdote to these challenges?

Hire companies around the world have been adopting electronic invoicing in their day-to-day rental operations due to their high-speed processing leads, timely payments, increased operational efficiency, and flexibility for clients.

Accurate and professional invoice processing

Manual invoice processing comes with several cons.

Humans are more likely to make mistakes, which unfortunately leads to several dysfunctions in operations.

Also, the lack of control over manual tasks creates a sense

of insecurity about certain processes. Take, for example, the traditional snail mail that you rely on to send your invoices; your business has no control over delivery delays, loss of mail, and delivery errors once invoices are sent.

Electronic invoicing steps in as a more efficient replacement for manual processes. Accelerated invoicing ensures nothing gets missed and guarantees:

• That your invoice will get to the right person


• That the invoices are processed and delivered faster


• That there is a faster turnaround on payments


• That there are less lengthy invoice queries

Accurate invoice processes help your accounts department monitor your finances better and keep precise records.

There is better control and visibility over the invoice process from invoice generation to delivery and increased accountability on the part of your employees.

Improved operations and cash flow

Take, for instance, the traditional method of invoice processing—there are numerous hours involved during which you would prepare, print, and post them. If a client has more than one contract that’s ready to be invoiced, your team will face the labour-intensive task of processing multiple invoices.

By automating your invoicing process, you can make it less laborious, and during high-demand periods like end-of-month tasks, it can save your team from extra hours of work. Instead of routine tasks, your team will have the time to concentrate on other revenue-generating operations.

You’ll also be reducing costs from your budget. This will include costs incurred from paper, ink, postage, and resupply of invoices—in case they get lost in the post.

As a result, fast invoice processing and automated payment processing allow people to pay invoices at the click of a button, and, in turn, accelerate your cash flow.

Efficient and sophisticated service

As technology improves, more and more customers are expecting flexibility from you.

E-invoicing uses XML (Extensible Markup Language), which allows you to share information easily between different applications and systems. This makes data transfer between multiple parties simpler, empowering you to transact with businesses all over the world.

What this means for your hire business is having the opportunity to provide flexibility to your clients—wherever they are.

Instead of on-premise invoice issues, you make communication easier between you and your clients, providing them with a more convenient, more sophisticated, and greener method of payment processing.

Electronic invoicing makes business easier for your team and your clients alike

Hire businesses aspiring to be smarter, more efficient, more flexible, and greener can certainly benefit from electronic invoicing.

The result is increased operational productivity, increased revenue, customer loyalty, and sustainability—all of which secure the future of your business.

If you would like to find out more about electronic invoicing for your business, contact the MCS team today!