{"id":6719,"date":"2017-03-02T13:34:25","date_gmt":"2017-03-02T13:34:25","guid":{"rendered":"https:\/\/link4.co\/uae\/?p=6719"},"modified":"2023-09-19T16:05:16","modified_gmt":"2023-09-19T06:35:16","slug":"calculate-savings-on-your-invoicing-in-4-simple-steps","status":"publish","type":"post","link":"https:\/\/link4.co\/uae\/fr\/blog\/calculate-savings-on-your-invoicing-in-4-simple-steps\/","title":{"rendered":"Calculate Savings on Your Invoicing in 4 Simple Steps<\/strong>"},"content":{"rendered":"

Posted by Sam Hassan on 02\/03\/2017<\/p>\n\n\n\n

Invoicing isn\u2019t free; manual labour and associated overheads can make it a costly process, especially if you are still sending paper invoices.<\/p>\n\n\n\n

True, eInvoicing \u2013 sending and receiving invoices directly from your Accounting software \u2013 is one solution you might look at. But just how much of a difference could it really make to your invoicing expenses?<\/p>\n\n\n\n

Try applying the 4-step example below to your business operations to get a rough estimate on the amount you could save with eInvoicing.<\/p>\n\n\n\n

Invoice Expense Calculation<\/strong><\/p>\n\n\n\n

How many staff hours does it take per month to create invoices?<\/p>\n\n\n\n

Let\u2019s assume you have 4 people in your team \u2013 Jan, Peter, Bruce & Warren \u2013 who create invoices. Together they spend 31 hours per month specifically on invoicing activity.<\/p>\n\n\n\n

What do those hours cost the company in salary?<\/p>\n\n\n\n

Jan spends 10 hrs a month on invoicing, her annual salary is $50,000.<\/p>\n\n\n\n

Peter; 8 hrs a month with a salary of $75,000.<\/p>\n\n\n\n

Bruce; 8 hrs a month with a salary of $95,000.<\/p>\n\n\n\n

Warren; 5 hrs a month with a salary of $40,000.<\/p>\n\n\n\n

Divide each salary by 2000( The average amount of hours a full-time employee works per year) to get an average hourly salary. In our example, it\u2019s $25, $37.50, $47.50 and $20 per hour.<\/p>\n\n\n\n

Multiply these salaries by time devoted to invoicing to determine the monthly expense (10 X $25 + 8 X $37.50 + 8 X $47.50 + 5 X $20 = $1,030)<\/p>\n\n\n\n

$1,030 per month for a 4-person team.<\/p>\n\n\n\n

What do those hours cost the company in overhead and benefits?<\/p>\n\n\n\n

Multiply the figure above by your company\u2019s standard overhead calculation \u2013 your Accountant will know this number if you do not, it\u2019s typically 40% \u2013 50%.<\/p>\n\n\n\n

We\u2019ll use 45%. So the overhead cost of invoicing labour is $463 ($1,030 X 45%).<\/p>\n\n\n\n

The total labour cost for invoicing per month is now $1,493 ($1,030 + $463) \u2013 and we haven\u2019t even taken into Account managerial costs, printing costs, office space (for people and equipment), maintenance, disputes, etc.<\/p>\n\n\n\n

Determine the savings<\/p>\n\n\n\n

The costs really add up, don\u2019t they? That\u2019s why true eInvoicing is becoming the new standard. It removes all the manual steps and helps you cut costs on your invoice processing.<\/p>\n\n\n\n

Once you\u2019re done working out your normal invoicing expenses, you can use this ROI calculator available here to compare and find out how much you can save with a fully automated eInvoicing system such as Link4.<\/p>","protected":false},"excerpt":{"rendered":"

Posted by Sam Hassan on 02\/03\/2017 Invoicing isn\u2019t free; manual labour and associated overheads can make it a costly process, especially if you are still sending paper invoices. True, eInvoicing \u2013 sending and receiving invoices directly from your Accounting software…<\/p>","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[29,30,33,38],"class_list":["post-6719","post","type-post","status-publish","format-standard","hentry","category-blog","tag-accounting-software","tag-cloud-accoutning","tag-e-invoicing","tag-productivity"],"yoast_head":"\nCalculate Savings on Your Invoicing in 4 Simple Steps - Link4 eInvoicing UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/link4.co\/uae\/fr\/blog\/calculate-savings-on-your-invoicing-in-4-simple-steps\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Calculate Savings on Your Invoicing in 4 Simple Steps - Link4 eInvoicing UAE\" \/>\n<meta property=\"og:description\" content=\"Posted by Sam Hassan on 02\/03\/2017 Invoicing isn\u2019t free; manual labour and associated overheads can make it a costly process, especially if you are still sending paper invoices. 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