Novelcomm operates in the field of information systems and telecommunications, offering technological solutions with specialization in wisp, wireless networks, VPN, firewall and security, VOIP, and call centers.
In addition, Novelcomm is a certified training center of the Latvian company Mikrotik, organizing educational seminars.
The team consists of 10 trained and certified IT technicians who flexibly meet the requirements of projects of any size and complexity, ensuring their successful completion.
Why did they decide to use an invoicing and financial management tool?
Automating the billing process of their subscribers
Novelcomm, beyond the initial installations of information systems and telecommunications, also provides services that are billed periodically, depending on each customer’s contract. Such services include web hosting, domain renewal, geographic telephone numbers (VOIP), internet packages, server rental, and others.
This creates a large volume of invoices the company must issue, send to customers, and get paid within a specific time frame.
As a new team of IT professionals, Novelcomm decided to automate some internal processes, such as customer billing and money collection, that, although not directly related to the company’s main area of operation and, despite their vital importance, could easily be automated. This would allow the company to free up productive resources from the existing team and focus primarily on creating new clientele and increasing revenue.
As Mr. Dimitropoulos, Founder & Managing Director of the company, mentioned in our interview, if they did not automate their customers' billing, one person would have to be employed exclusively for this process.
Managing the finances of the business in an easy and effective way
Like any business that does not have an internal accounting department, it was very important for Novelcomm to be able to manage its finances at any time, without needing to communicate with its accountant.
Beyond the automation of invoicing, which was mentioned earlier, the company has to manage hundreds of quotes sent to potential customers, its expenses, as well as a large volume of products that it has in its warehouse and uses in the installations it carries out.
By consolidating all these functions into one platform, Mr. Dimitropoulos has the ability to manage and easily monitor the financial obligations and requirements of the business, without consuming significant resources from his team.
The solution using the Elorus platform
Automated invoicing solutions, online payments, and seamless integration with the myDATA platform
With the use of Elorus, Novelcomm has the ability to invoice its customers and automatically send the documents it issues to the myDATA platform. In the case of periodic charges to its subscribers, the company can enable recurring invoices, which are created and sent automatically to the customer’s email at a predetermined time, according to the respective contract.
Also, by activating some of the available payment gateways (Stripe, VivaWallet, Paypal, Braintree), the company can accept immediate online payments for the electronic invoices it issues.
By implementing the above functions offered by Elorus, Novelcomm can fully automate the invoicing and collection of money, without the need for a company member to dedicate all of their time to this process.
Effective Warehouse Management
Novelcomm, to complete the installations it provides, uses dozens of materials, from screens, recording systems, and telephone devices to RAM memory, motherboards, routers, batteries, and more.
Through Elorus, the company can add collectively or individually all the different product codes it has in its warehouse, specifying the exact inventory, net values, applicable taxes (by default), as well as related descriptions, etc.
Additionally, the company is able to manage its stock more effectively, as each time a sales or purchase invoice is issued, Elorus records the sale or purchase in relation to the quantity and automatically adjusts the corresponding inventory.
Sending detailed offers to potential customers
During the sale, as expected, the company usually sends a detailed offer to its prospective customers before they accept or reject it.
Now, through Elorus, Novelcomm can create these offers and send them via email to its customers. Once the customers accept the company’s offer, the corresponding electronic invoice is created with a click of a button, without requiring additional time for the issuance of the document.
Managing revenue, expenses, and the financial status of the business
Using Elorus, the business can fully manage its finances. Beyond issuing documents and accepting payments from its customers, the company has the ability to record and categorize the expenses it incurs.
Thus, by utilizing all of Elorus' basic functions, the organization’s administrator can monitor the financial obligations and requirements of the business at any time. Through the general dashboard of the organization, the business manager can immediately check revenue and expenses, outstanding invoices and bills, cash flow changes, customer balances, and more. If further analysis is needed, they can use any of the available detailed reports, applying the necessary filters.
What did they achieve using Elorus?
Novelcomm is on Elorus’s Standard plan, and within a year, the company has issued thousands of invoices. Many of which are created automatically by the Elorus app within a predetermined period, depending on each customer’s contract, and are then sent to the myDATA platform.
Additionally, the company has issued hundreds of quotes to its customers, while it can track inventory on more than 400 products that it has added to the warehouse. It accepts online payments directly via Stripe, without any extra commission from Elorus, and the related income is automatically recorded in the company’s account on Elorus.
Finally, Mr. Dimitropoulos, Founder & Managing Director of Novelcomm, can closely monitor the company’s finances, without needing to communicate with his accountant. Through the Elorus reporting system, he can track the company’s expenses, cash liquidity, customer and supplier balances, tax obligations, etc.
In short, the company has fully automated its subscriber invoicing, money collection, and financial management, saving valuable time and money compared to the manual processes that would otherwise be required.
Novelcomm achieved all of the above with continuous support from the Elorus team, provided free of charge, during the company’s initial setup within the Elorus application.