Turning the Tide on a Creative Agency's Invoicing Struggle
A 10-year-old NYC creative agency was dealing with a messy invoicing system that didn't track payments, leaving them in a cash-flow bind. They were using a Google Sheet template to create invoices. As the agency grew, keeping tabs on unpaid invoices became a struggle. They were not able to tell if invoices had been emailed to the client or paid. As the agency took on more clients the invoicing process begin to negatively effect cash flow. It was time for a change.
Enter ProProject Bookkeeping
ProProject Bookkeeping stepped up to the plate to help this creative agency. We analyzed the invoicing process and identified the main issues. The goal was clear: create a solution that not only resolved the agency's current problems but also positioned them for future growth.
The Game Plan: A Winning Invoicing Strategy
ProProject Bookkeeping overhauled the agency's invoicing process. We integrated invoicing directly into the agency's existing accounting software, Quickbooks Online, allowing for a streamlined invoicing process.
Invoices were now emailed straight from the accounting software, complete with tracking features so the agency would know when clients opened them. Plus, clients could now easily pay their invoices with a direct payment link – making the whole process a breeze for everyone involved. We also automated Quickbooks to send automatic payment reminders to clients.
The Results: Scoring Big with Improved Cash Flow
The new invoicing system was a slam dunk for the creative agency, delivering major benefits:
Efficient Invoicing Process: The integration of invoicing into the accounting software saved time and resources – a win-win for the agency.
Better Tracking and Follow-ups: The agency could now quickly identify unpaid invoices and focus on following up, speeding up payments.
Easy Payments for Clients: With a direct payment link, clients could pay their invoices hassle-free, leading to more on-time payments.
Healthy Cash Flow: With improved invoicing, the agency saw a positive shift in cash flow, with fewer unpaid invoices and more timely payments.
Now, the agency receives an automatic weekly email of open invoices directly from Quickbooks, helping them stay on top of their finances and maintain a strong cash flow.
Final Thoughts: Winning Formula
ProProject Bookkeeping's solution transformed the creative agency's invoicing process into a well-oiled machine, resulting in improved efficiency, healthier cash flow, and timely payments. By understanding the agency's unique challenges and focusing on their specific needs, ProProject Bookkeeping demonstrated its expertise in delivering financial solutions that set businesses up for success.