In a survey of more than 100 accountants by accounting software developer Coda, 89% of accountants said that cash flow has become a more important problem for their company in the downturn.
- 47% said that invoicing delays are a "definite" or "somewhat" common source of cash flow problems for their company.
- 25% of the respondents estimated that their company has experienced delays of at least $5,000 a month due to invoicing errors.
- In addition, nearly 17% have seen payments greater than $50,000 delayed due to invoicing errors.
"Clearly, in the current climate, collection of invoices is absolutely key," said Coda CEO Jeremy Roche. "Many people said invoicing delays were constant."
Getting invoices cleared early and the questions ironed out are an easy way to improve cash flow, he added.
Source - http://www.webcpa.com/news/30910-1.html
What does that have to do with riteSCAN?
Mobile barcode scanning is a cornerstone of streamlined supply chain management and warehouse systems.
riteSCAN automates inventory physical counts, purchase order receiving, job issues, inventory movements, sales order picking, and much more.
The transactions processed with riteSCAN are all completed in real-time.
Christie Conant at Downeast Concepts has found:
"... with riteSCAN, Downeast Concepts has increased efficiency and lowered costs with the ability to track and maintain inventory in real-time, avoid picking errors, and reduce the manual efforts of invoicing."