Whilst paperwork isn’t the most fun side of your business, it’s one of the most crucial. Warranty and invoicing systems are pain points in so many businesses, so if you’re experiencing issues in that department, don’t worry – you’re not alone! 

Here are some tips and tricks we’ve learnt along the way that can help make light work of those stacks of paper: 

Warranty

Streamline

Ensuring your warranty claims system is as smooth as possible will save you a huge amount of time, money and effort. If in the unfortunate event one of your consumers isn’t happy with their service, you want to make sure their claims process is as smooth as possible, to minimise any potential damage to the relationship. 

Train like a boss

Ensure your team are applying products in the correct fashion can save a lot of time when it comes to warranty claims. Sometimes, warranty claims aren’t down to the product failing, it’s the application that wasn’t up to scratch. Taking the time to train your team will minimise potential bumps in the road later down the line. 

Learn from your mistakes

Implementing a survey system in which the consumer is asked for feedback can help you understand how and why an issue has occurred, aiding prevention in the future! 

On the clock

An internal warranty system can work wonders for staff efficiency. Setting ground rules can help consumers, and you, move swiftly past any issues. For example, training your team to respond to any queries or complaints with in 48 hours, with a maximum 20 day period to rectify any warranty claims can help turn a negative situation into a positive!

Invoicing process

Because accounts payable is a back-office function, it doesn’t always take centre stage as businesses look to grow or build competitive advantage. However, a streamlined system can transform your business, promote customer satisfaction and create a smoother transaction for both parties. 

Build a document trail

Document all communications and telephone conversations about invoices so they are filed for future reference. Keep track of requested changes in writing. This trail will help when going after late payments. 

Invoice immediately

Send invoices the day a project is completed. Leaving it for weeks is an inefficient way to run a business because it damages cash-flow and reduces revenue from work that’s already been completed. Also, if the invoice date drifts too far from the work that was carried out, your client may have some awkward accounts reconciliation to do. This is because the two events may fall into different tax years. So always invoice promptly, or as soon as the agreed work has been completed.

Keep track

Use the end of the month to assess what is going in and out of your business, and establish a solid system for tracking late invoices. Automating it, or outsourcing accounting work can be a great way to alleviate the pressure of mistakes. Alternatively, humanising your accounts team, and building great rapport with your consumers can help the awkward chasing stage. Keeping it friendly and professional can help to ensure returning business!