We all know how accounting departments face constant pressure to economize. Here are a number of ways you can use Adagio Accounting to save money…
Eliminate Expensive Preprinted Forms
If you are still buying custom preprinted forms, you should consider using Softrak’s inexpensive blank cheque stock to print cheques instead. You don’t need any preprinted forms for invoices or customer statements either. All those forms can be printed on blank paper with your Adagio modules.
Ditch The Snail Mail
Since Adagio first shipped in October 1999, first class letter rates have climbed significantly. And those window envelopes don’t come for free. So why are you still using “snail mail”? Mobile phone companies, cable companies, utilities and banks are all pushing e-billing heavily. Why? Because it saves them a lot of money. With Adagio, you can send all these items electronically:
- Payables – cheques (using electronic payments; contact us to see if your preferred method is supported)
- Invoices – credit notes and invoices
- Receivables – customer statements and letters
- OrderEntry – order confirmations, picking slips, credit notes, and invoice
- BankRec – receipts
- Purchase Orders – purchase orders
- SalesCQ – quotes and letters
- Time&Billing – invoices and credit notes
- Crystal Reports – any reports
- GridView – views or workspaces (using ExcelDirect)
Not only will electronic transmission save the cost of postage, paper, envelopes, and labour, but the information has more immediacy. In fact, just speeding up your cash flow can have an impact on your bottom line.
Append Electronic Marketing Tools
Since email is free, why not also take further advantage of your outbox, by adding marketing tools to your emails? Attach a PDF document when sending statements or letters, such as a promotional offer or product literature. You save on both postage and professional printing.
Accelerate Your Cash Flow
With computerized accounting, particularly accounts receivable, it is much easier to get aging reports to help identify a pattern of slow- or no-payment by certain customers. By emailing or faxing overdue invoices, you quickly and easily get your overdue invoices the attention you want them to have. But just sending the invoices themselves does not give you a complete collections effort. You should also encourage the customer to communicate with you. You can do this quite easily by sending with the faxed or emailed invoices a cover letter indicating your eagerness to resolve the overdue receivable. Develop a series of at least four or five different collection letters, each building on what the earlier ones have said and each one more firm in your request for payment. The letters should also offer to work out a convenient repayment schedule to help ease the plight of those customers who are in short-term financial difficulties.
Clearly, a small investment in an Adagio product can produce a significant return on investment. Call us today if you need help making the most of your Adagio’s penny-pinching powers.
This is an excerpt from this quarter’s issue of The Score. Read the full issue here.