Make Informed Decisions with On-Demand Invoice Reports

There is more IT staffing businesses can do than just generating accurate invoices, automating A/R process, streamlining cash flow, sending reminders to consultants for timesheet submissions, automated email invoice dispatch, and managing vendors’ bills using CONSULT and QuickBooks.

Smart IT staffing companies are already using CONSULT for analytics, customer retention, and distributing discount largesse to worthy customers.

CONSULT users can generate on-demand invoice reports that IT staffing businesses can use for making informed decisions about their customers and plan for rewarding worthy customers with appropriate discounts for increasing customer loyalty and retaining them for more business referrals.

How On-Demand Invoice Reports Help in Decision Making

Decision making is both an art and science. Without a proper tool, no management can make a decision that is guaranteed to produce the right financial result for the business. CONSULT is a fillip for IT staffing managers who want a scientifically sound decision-making tool.

IT staffing businesses can use it in multiple scenarios. It can be used in business planning; determining the average time taken by customers to clear and pay invoices; calculating the cost of the A/R process and calculating the maximum discount that can be allowed without disturbing the company’s overall profitability.

CONSULT is a much preferred tool for financial analytics because it will give the management/business owners authentic and practical information to which they can be relied upon. It does not depend on guesswork; it is information that has been obtained from financial information available in the QuickBooks database and interpreted by CONSULT for optimum intelligence.

Decisions that Require Accurate Information Processing

Providing discounts to longtime customers as a retention strategy – Discounts can go a long way in winning customer loyalty. All things being equal, customers love discounts because it improves their financial position. The crux of the matter is that discounts cannot be allowed a benefit accruing to you – it should cut down your cost of operation, get a few referrals or there must be an immense possibility of an increase in business volume.

Planning consultant acquisition (subcontractor) – Putting a plan into action can be a really tough job, especially if it’s going to impact your profit levels and tax liabilities. Hiring and assigning consultants to make a big impact that is directly related to your own business location, the place of domicile of the consultant, and the location of the customer. Using CONSULT in sandbox mode, you can explore using different permutations and combinations available. You can use this sandbox to create a plan of action that will give you the maximum ROI.

Classifying your customers based on important parameters. Not all customers are equal; some pay you fast, some require frequent reminders, and a few who you need to put on the watch list. There is so much data that CONSULT holds and which you can use for creating multiple models. Once the classifying is completed taking a decision on retaining customers is a matter of applying the data to good use.

CONSULT is an add-on application designed for QuickBooks. It is the preferred software for automating the invoicing process for the IT Staffing industry.