A new feature called Transactions Approval from Zoho will lower or get rid of mistakes made during sales and purchase transactions within the Zoho Finance apps, the company says.
With this new feature, you and your employees will be able to verify and approve transactions within Zoho Books, Zoho Invoice and Zoho Inventory apps. Having an approval workflow in place will translate into fewer mistakes and more efficient operations.
For small business owners who count on different employees to carry out more than one task, the chances of making mistakes become that much higher. With a manual process, sales and purchase transactions can have conflicting information on them. And often times the mistakes are not recognized until they are further down the pipeline.
By the time the discrepancy has been identified, you might’ve already sent invoices to your customers. This will not only result in more work for your company when trying to repair the damage, but it could also negatively affect the relationships you have with your customers.
Enabling Zoho Transactions Approval Features on the Apps
When you enable the Transactions Approval on the Zoho apps, every transaction can be set up to require approval before it is sent out to customers, suppliers or vendors. Individuals who have been designated to make the approval will be able to verify the transactions and make any corrections if they are needed before they are approved.
Catching mistakes early in the process delivers a more accurate inventory, accounts receivable and overall delivery of products and services to customers and business partners.
Once the feature has been enabled and a transaction is sent for approval an in-app notification is sent to the designated individual. This means you don’t have to make phone calls, send emails or physically locate the contact person to get a signature. They can sign into the app, verify the transaction and make the approval.
Approval Workflow for Your Business
Having an approval workflow in place should improve the productivity of your company and increase the efficiency of the processes you have in place. While in the past this meant physically tracking down the necessary individuals for their signatures, digital technology has eliminated the different pain points associated with the procedure.
If you implement an automated approval system for your business, it can move projects along faster, reduce late payments, ensure deliveries and improve customer service. The Transactions Approval from Zoho does this for your books, invoices and inventory.
If you want to start using Transactions Approval, you can go to the help documentation page of Zoho Books, Zoho Invoice, and Zoho Inventory to get started.
This reduces mistakes but it can also result to abandonment. I guess it is okay as long as the customer is determined to make the purchase.