8 Ways GPS Tracking Can Help Invoice Management & Verification

Invoice management and verification through GPS asset tracking solutions involves leveraging GPS technology to track the location and movement of assets, which in turn significantly assists in streamlining invoice management and verification processes by providing visibility of assets, their movement, and asset usage. This approach is particularly useful for businesses that rely on mobile assets, such as vehicles, equipment, or asset rental services.  

Here’s here it helps:

Interval Based Reporting

GPS tracking provides interval-based reporting, allowing businesses to routinely track the whereabouts of their assets. This data can be used to generate invoices immediately after a service is completed, ensuring that customers are billed promptly and accurately. 

Route Optimization

Businesses can use GPS data to optimize the routes taken by their assets, such as delivery trucks or service vehicles. This can lead to cost savings through reduced fuel consumption and improved efficiency. Accurate route information can also be used to verify that services were performed as expected. 

Automated Reporting

GPS asset tracking systems can generate automated reports based on asset movement and usage data. These reports can be used for audit purposes, financial analysis, and to provide detailed information to customers, enhancing transparency. 

Verification of Services Rendered

GPS data can be used to verify that services were performed as agreed upon. For example, a service technician’s GPS location data can be compared with the service schedule, providing evidence that the service was completed at the specified location and time. 

Reduced Errors and Discrepancies

GPS tracking reduces the chances of errors in invoice management. The accuracy of GPS data means that discrepancies between what was billed and what was delivered are minimized, reducing disputes and errors in the billing process.

Accurate Billing

GPS asset tracking ensures that billing is based on the actual usage and location of assets. For example, businesses can charge customers based on how long the customer utilized a rented asset, distance traveled, time spent, or specific locations visited. This eliminates the need for estimates and guesswork in the billing process, reducing the risk of overbilling or underbilling.

Cost Savings

By optimizing routes, improving asset utilization, and minimizing billing errors, businesses can achieve cost savings and operational efficiencies. This can have a positive impact on the bottom line. 

Security and Asset Protection

GPS tracking also enhances security and can help protect assets from theft or misuse. If assets go missing, their location can be tracked, aiding recovery, and potentially reducing financial losses. 

GPS asset tracking plays a crucial role in improving the accuracy, efficiency, and transparency of invoice management and verification processes. It helps businesses ensure that their billing is based on real-time asset data, which can lead to cost savings, better customer relations, and reduced errors and disputes in the invoicing process. 

About Geoforce 

Geoforce was founded in 2007 with the simple belief that the chaos and pain of field operations could be alleviated with technology. Since 2007, our mission has been to build the largest global network of connected field assets to provide operational intelligence to companies involved in field operations worldwide.    

Combining a cloud-based software platform with rugged GPS tracking devices on both global satellite and cellular networks, Geoforce’s solutions provide:   

• Efficient asset location and retrieval 
• Rental invoice auditing 
• Service delivery verification   
• Inspection compliance 
• Equipment maintenance alerts.   

Our core values unite our team at Geoforce, help us deliver exceptional products and services to our customers, and keep our company rooted in growth and innovation.   Get a quote to start your asset tracking journey.