What happened in January?
January brought us so many challenges, thanks to our brave customers who’ve chosen to take part in our adventure.
We’ve welcomed people from the US, Canada, Sweden, Brazil, and, last but not least, Belgium!
It doesn’t come for free or without difficulties, like:
- thousand of invoices to load, and to process
- companies invoicing in different currencies (did you know that 1 euro is worth 10 Swedish krona !?)
- companies are deleting invoices and using the same invoice ID again for another client.
- Companies have different ways to manage retainers.
So, here is a quick summary of what happened.
Back Over 2018 — Automated Analysis
2018 belongs to the past. Reviewing the past year can be highly time-consuming. However, it may be rich and worth information.
Sales — How well did your sales go compared to 2017?
Clients — Did you have more clients than the previous year?
Receivables — How effective is your credit collection process?
Check the detailed post for more information.
Multi-currency.
As we’ve welcomed people from all over the world, we quickly needed to add a lot of western currencies.
USD, EUR, Brazilian Real, Swedish or Norwegian Krona, etc. You’re all welcome now!
Automated Conversion with currency reference
Managing amounts of revenues in different currencies may become a real headache quickly and consume all of your time due to retrieving historical conversion rates.
From now, kopilot converts all your invoices into your preferred currency. It is simple to handle all your revenues consistently.
- Boost and advance your credit collection based on amounts, whatever the currency.
- Compare your sales revenues in the currency you’re used to for a better understanding.
Forced Sync.
Your Kopilot gets quite often refreshed. Based on discussions we’ve had, it was quite clear that “real-time” (technically speaking “near real-time” is more accurate as there will always be a small frame-time interval between applications) that does not induce that much value. Moreover, it pushes for higher prices.
Rest assured as the same philosophy remains:
information is available whenever you need it.
We’ve improved the visibility of syncs. Now you have an overview from the last to the next sync.
It might you cannot wait for the next automated refresh. So push the “Sync now” button, and whoosh ! all data are refreshed.
Forcing is especially useful when invoices were deleted. This is the only way to take immediately deleted invoices into account. Otherwise, those will be synced at night, when we refresh your entire collection of invoices.
Retainers
Definition. The fee paid in advance to your company for a job to be done.
Rules have been refined:
- #1. Retainers are cash to be collected. Therefore, we include them in the receivables follow-up.
- #2. Retainers are excluded from Revenue calculations as services are still to be performed.
Would you like to have a view on retainers’ consumption? Please leave a note here, and make sure to vote for it.
Better Recurring Invoice Management
It became an issue for us as they’re not linked to any Harvest’s user. Thus, some people were missing their sales partially.
From now on, we’ve decided to create an ‘Unknown’ user that groups all invoices without an owner.
Well, the post was longer than expected. And the best (in my opinion) will come soon!
Laurent
Stay tuned and don’t forget to follow us on Medium, Facebook, Twitter, or LinkedIn; or just keep an eye on our changelog :) Interested to take the trial, it is here: www.kopilot.io!
