Being a business owner requires you to wear many hats, and for many of us, that means we’re too busy being busy. We get caught up in day-to-day tasks and become employees of our business. It’s important to look at the efficiency of your print shop and see where you can reduce the waste of time, effort, and material.
Did you know the average print shop can save approximately $5,000 annually through operational efficiency? One of print shop owners’ most significant pain points is having to manually keep track of open invoices. One of the easiest ways to reduce time and money is to have the option to have invoices integrated into your MIS, such as PrintSmith Vision.
Enhancing PrintSmith Vision with Payably
Payably for PrintSmith was designed to reduce the time you spend on bookkeeping and get paid faster. Payably has an API for PrintSmith, so as soon as your customer pays your invoice, the payment is automatically posted to PrintSmith. The payment will close the open invoice on PrintSmith.
Automated Invoicing and Payments: The integration automates invoicing processes, enabling businesses to send invoices and receive payments effortlessly. This automation reduces manual labor, minimizes errors, and accelerates the payment cycle, thereby improving cash flow.
Streamlined Workflow: Synchronizing payment data with PrintSmith Vision ensures that all financial transactions are accurately recorded and easily accessible. This synchronization eliminates the need for manual data entry, reducing administrative burdens and freeing up staff to focus on more strategic tasks.
Improved Customer Management: The combined features of PrintSmith Vision’s customer management and Payably’s provide businesses with a comprehensive view of customer interactions and transactions. This holistic approach enables better customer service and personalized communication, fostering more robust customer relationships.
Real-Time Reporting: With real-time transaction reporting, businesses can closely monitor their financial health and make informed decisions swiftly.
Calculating Cost Savings
One of the most compelling reasons for print and sign buisness to leverage Payably with PrintSmith Vision is the significant cost savings. Let’s break down the savings with a practical example:
Manual Payment Application
Suppose a bookkeeper manually applies 100 payments each month. The bookkeeper’s hourly wage is $25. If we consider a 2% error rate, the annual cost savings could be as much as $5,200.
Additional Cost Savings
Beyond direct savings from automating payments, businesses benefit from:
- Lower Operational Costs: Automation and streamlined workflows reduce the need for extensive manual labor and administrative tasks, cutting operational overhead.
- Minimized Errors and Discrepancies: Automation reduces the likelihood of costly errors and discrepancies, ensuring accurate financial records and avoiding unnecessary expenses.
- Reduced Transaction Fees: Payably offers competitive transaction fees, leading to savings on each transaction.
- Scalability: As businesses grow, the integration scales seamlessly, accommodating increased transaction volumes without substantial additional investment in infrastructure or staffing.
For print and sign owners aiming to optimize operations, enhance customer satisfaction, and achieve cost savings, the integration of Payably with PrintSmith Vision offers a compelling solution. This powerful combination equips businesses with the tools they need to thrive in a competitive marketplace by simplifying payment processing, automating workflows, and reducing operational costs. Embrace the future of efficient business management and financial transactions with Payably and PrintSmith Vision, and watch your print shop soar to new heights.
