Top 3 Reasons to Automate Waste Invoice Collection
Like many non-PO invoices, a large portion of waste invoices are still manually collected. Companies are relying on manual processes that require a team of people to collect and process paper bills or log into waste hauler websites to download customer bills, one by one. While they may think this method is their best option, in reality, it’s unreliable, time-consuming, and requires a lot of human intervention.
Automating waste invoice collection can substantially improve a business’s operations. Here are three reasons why you should automate waste invoice collection:
1. Increase time-to-pay
Awaiting the arrival of a paper invoice or for an invoice to become available online is a cumbersome task, especially when it involves multiple accounts. Expediting waste invoice collection and making invoices readily available in one centralized location eliminates the need for human intervention. Waste management companies can then increase productivity, free up their staff to focus on other aspects of the business, and increase their time to pay invoices.
An Urjanet customer saw a 43% decrease in processing time after automating waste invoice collection.
An Urjanet customer saw a 43 percent decrease in processing time after automating waste invoice collection. Additionally, just by reducing hauler past dues and pending credits, the company saved over 150 hours a month of staff time. With more time to pay, companies can reduce both late payments and operational costs.
2. Reduce exceptions
When it comes to exceptions, the less you have, the better. 62 percent of organizations find exceptions to be one of their main AP challenges. Invoice exceptions can significantly slow down invoice processing times. They can also lead to late fees and increased processing costs.
By automating waste invoice collection, you can dramatically reduce the number of invoices that require human intervention, resulting in lower processing costs and more time for your team to allocate to revenue-driving activities.
3. Grow your business
With automated waste invoice collection, waste management companies can take on new customers and high volumes of accounts with ease. Rather than facing the prospect of doubling your team when your customer volume grows, you can rely on scalable technology. By implementing a more efficient workflow, waste management companies can put themselves in the perfect position to increase their invoice volume, enhance scalability, and grow their business.
“We’ve grown our monthly invoice count from 25,000 to nearly 100,000. That scalability would not be possible without Urjanet.”
As the director of data management at a leading waste management solution provider said, “We’ve grown our monthly invoice count from 25,000 to nearly 100,000. That scalability would not be possible without Urjanet.”
Reap the benefits of automated waste invoice collection
Automated waste invoice collection enables waste management companies to reduce the risk of late payments, minimize human intervention and labor costs, and scale with confidence. To learn more about how Urjanet works with waste management companies to improve efficiency and reduce costs, check out our case study: Refuse Specialists Reduces Invoice Processing Time with Automated Invoice Collection.
If you’re interested in learning more about what the Urjanet Utility Data Platform can do for your business, speak with an expert today.
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About Ma-Keba Frye
Ma-Keba Frye is a Content Marketing Associate at Urjanet, assisting with content development and execution. When she's not writing, she enjoys reading, listening to music, and volunteering.