Average Invoice Amount
What: The average invoice amount alert is a deeper look into what is happening in the sales. It compares the average invoice value over the last month and flags invoices that fall outside of the range you set.
Why: This happens to capture potential sales invoicing issues. If your sales invoices typically fall in a range and then you have a deviation from the norm it could imply that someone has made a mistake or sales values are dropping. Either way this needs to be investigated. On the flip if sales have increased this could also imply a mistake which will lead to customer complaints. It could represent an increase in average sales value in which case we should be celebrating the good and finding out what has changed and how this trend can continue. What has the client done differently, what impact will this have on the business for example higher stock levels required. These are all really good touchpoints to have with your clients.
When: Runs throughout the month checking each day.
How: Review of all sales invoices posted and then dividing the total value by the number of sales invoices posted in the period versus the previous month. If the variance is outside the % allowed, then it triggers showing the low and high value invoices in the month.