Daftarkhwan
Revolutionising Invoicing: How Daftarkhwan Cut Invoice Processing Time by 60% with Loop's Solutions
Daftarkhwan, a rapidly growing and tech-driven coworking space in Pakistan, provides entrepreneurs with agile workspaces to create and scale businesses. With eight meticulously designed locations, Daftarkhwan offers customised coworking solutions, along with a world-class technology-led experience, including flexible timings, high-speed internet, contemporary interiors, tech-infused coworking halls, and an in-house café.
The Challenge
Managing a coworking space of this scale comes with its share of obstacles. Among them was the need to handle payments and invoices effectively. In the past, Daftarkhwan relied on multiple teams to manually handle invoice creation, sending, reminder setup, payment collection, and invoice reconciliation. This labour-intensive process consumed approximately 5 (five) days of their valuable time for the invoicing process.
Daftarkhwan wanted to reduce the time spent on invoice generation, payment collection, and reconciliation. By streamlining these tasks, they could reclaim valuable time and effort while creating a more efficient and streamlined collection process.
Loop’s Auto-Reconciling Invoice Management Platform
To address these challenges and optimise efficiency, Daftarkhwan leveraged Loop's invoice software. By automating invoicing processes and real-time data monitoring, they witnessed remarkable improvements in their operations. The strategic implementation significantly reduced their invoicing cycle from 120 hours to less than 48 hours for all of their clients, optimising efficiency while boosting cash flows. Their team members now only take one day to create all the invoices and another to send them to all the clients, using Loop’s invoice template. Loop's seamless integrations enabled Daftarkhwan to automate invoicing, check outstanding invoicing, and allow clients to change invoice status without going back and forth through emails, all while ensuring robust security measures.
“Loop's invoicing software has been a game-changer for Daftarkhwan. It's very efficient, saving us manual time and offering a range of automated options. Thanks to Loop, what used to take 3 to 4 days for the invoice process is now completed in minutes, giving us more visibility into our payment processes and allowing us to focus on our core business.” — Daftarkhwan.
INVOICING
Create, track, and reconcile invoices in secondsCreate invoices in bulk, track invoices in realtime and receive payments from customers in multiple ways, including cash.
Learn moreThe Impact
Reduction in Processing Time
The time taken to complete each invoice was reduced by 60%, enabling quicker access to funds and improving the efficiency of the business.
Enhanced Productivity
With invoicing streamlined, workers could shift their time to more valuable accounting-related tasks, enhancing overall productivity.
Areas Utilising Loop's Solutions
Automated Reminders
Daftarkhwan leveraged Loop's automated reminders for overdue invoices, streamlining collections and fostering transparent communication with clients.
Swift Reconciliation
Loop's easy-to-use dashboard minimised invoice reconciliation and discrepancies and accelerated vendor account settlements efficiently.
Bulk Invoicing
Daftarkhwan embraced the convenience of handling large invoice volumes simultaneously with Loop’s bulk invoice feature, saving significant time and effort.
Payment Advice
Loop's invoicing solutions offered easy access to payment records, enabling quick verification of transactions.
Enhanced Visibility
Real-time updates on invoicing status eliminated the need for manual follow-ups, ensuring smoother client communication.
Conclusion
By embracing Loop's free invoice template, Daftarkhwan successfully streamlined their billing process and optimised workforce productivity. The efficiency gained through automation allowed Daftarkhwan to focus more on its core business, while Loop's seamless integrations ensured secure, reliable, and efficient invoicing processes. As a result, Daftarkhwan continues to offer exceptional services to its clients and maintains its position as a leading coworking space in Pakistan.