Whether you are a freelancer, eCommerce business owner, or a brick-and-mortar retailer, streamlining the cash flow is of utmost importance. And for that, you must have an automated billing process to enhance your business growth.
Invoicing software is one such software solution that makes your work easier. For example, you can easily keep tags on your business expenses and even send professional invoices to your multiple clients quickly.
Apart from this, there are various advantages of invoicing software mentioned in this article that will help you to automate your daily activities.
Advantages of Using Invoicing Software
Here are the advantages of using online invoicing software for businesses or even freelancing jobs:
Simple and Quick
Invoicing software is a platform where you can create and manage invoices smoothly.
Invoicing software helps you in many ways like:
- it enables you to get rid of manual processes like maintaining spreadsheets
- eliminates your long hours in entering essential information in invoices
- it easily stores your client’s name, address, agreed-on payment terms, and even preferred payment methods
- you can easily maintain your business and customers all-in-one
- it speeds up the entire payment process for small businesses
- it’s a user-friendly platform that makes it easy for everyone to use, whether small businesses or freelancers
Easily Create Multiple Invoices
A business owner or freelancer with several clients can easily send and manage multiple invoices simultaneously using online invoicing software.
Moreover, it helps you save the previous invoice records sent to the customers to preserve future references. Also, you can add services and products along with the charges you are offering to multiple customers at once in your inventory.
No one likes paperwork at all, especially when dealing with creating and managing invoices for multiple customers.
Invoicing software removes such a burden and helps you easily create and send professional invoices to clients. Moreover, it ensures the correct numbering of invoices and the correct details inside the invoice.
Online invoicing software like InvoiceOwl allows you to filter your invoices by days, client name, and even payment status or client. Download or print option is also available, making it easy for you to send them to your clients or accountant.
As a small business owner, when using a cloud facility from an invoicing platform, you never have to worry about losing invoices or missing client’s data (i.e. client’s confidential credit card information).
You do not have face mail problems or pc crash issues amidst data entry. Everything you input into the billing software is automatically saved and stored online. You need to read their storage capacity before you opt for any invoicing services.
Once you are satisfied with their cloud offerings, you can immediately start sending invoices to your clients right away.
Online invoice software offers built-in automation facilities that allow you to perform their invoicing process automatically.
By using invoicing software, it allows you to:
- set up automatic recurring payments for your long-term clients
- establish a subscription-based business model to speed up the monthly payment cycle
- send payment reminders and follow-up emails for upcoming and overdue invoices
- you don’t have to hire any professional to do such administrative tasks for you
Automating repetitive tasks saves a ton of time and money so that a business owner or a company representative can focus on other essential tasks. Moreover, it will keep you away from chasing payments for unpaid invoices.
Ideal for Brand Identity
Cloud-based invoicing software can strengthen your brand’s identity. You can add your logo, branding colors, matching fonts, and a professional look that suits your branding style.
When you are taking a step ahead to strengthen your identity, you can increase the chances of getting paid quickly and on time. For example, it’s been seen that when you include your brand identity into your invoice, it increases the collection of payments by three times and helps you get paid on time.
When using a digital platform, you will have a special place to put your customized messages, such as a “Gentle Thank You Note.” You will also be able to up-sell your new or upcoming services. You may also want to add a link to your new webpage.
This facility may seem insignificant for many people, but these tiny things can also enhance your brand value. The brand value will demonstrate the expertise in your field.
If you are using invoicing software, your data is entirely secure. It includes additional security of the transaction data, their customer’s identity, and most importantly, their cost to the customer.
Security must always be a top priority for any business person. Reputable and well-known online billing software always offers high-level security since it must adhere to PCI Security Standards.
It is not easy to get a PCI Security Standards Clearance. However, this clearance will help you implement advanced security safeguards against any loss and damages. For example, you can have such protection in your billing software as SSL encryption.
Fundamentally, we all are ‘Global Citizens’ these days, thanks to emerging technologies. So, for example, a freelancer from Canada can bill their client in the U.K., or a customer from Africa can order a bag from a company located in the U.S.
It was not possible a few years back, but now the entire scenario has been changed, and people trust each other without knowing their language and currency. It’s just the requirement that matters, and it has been possible with the use of the latest technologies.
Because of this technology, cloud-based invoicing platforms nowadays allow users to select their preferred language and currency. This facility makes it possible for everyone to do the business of their choice and customers to pay at their convenience.
Cloud invoicing and payments make it easier for businesses to enter the global marketplace with much more convenience. It also removes payment barriers and helps them get paid instantly.
According to the U.S. and European Survey:
- each paper invoice error costs companies $53.50 to rectify
- accounts payable (AP) departments receive 35 percent of invoices in paper form
- only quarters (25 percent) of invoices are sent via a fully automated electronic method
Additionally, there are extra costs that are related to paper, ink, and postage. Digital invoicing software is beneficial to eliminate these additional costs.
And, the cherry on top, the automation, adds additional value to your business so that you can reduce the cost of invoicing by almost 30%.
If your business costs go down, you will be able to charge fewer fees to your business clients, increasing your chances of getting paid on time. We all know that getting paid on time is very important for any business but saving extra costs are equally important.
Invoicing software is usually cloud-based, which gives you the ability to manage the client information and billing from anywhere using an application or web-based platform. In addition, you can access all the invoicing details 24/7 using your desktop, tablet, or Smartphone.
That means that if you can’t go to the office for any reason, you are at home or traveling – you can send and manage your business invoices anytime from anywhere and get paid in every corner of the world.
A cloud-based invoicing solution allows you to save each step of your business invoicing process. It will enable you to create invoices, expense receipts, and other invoicing-related documents from one dashboard.
This user-friendly dashboard personalizes a simple and time-saving process for analyzing financial statements at the end of the financial year. Especially during the tax season, you or your accountant might need to sit together and figure out the eligible tax deductions. At this time of the season, invoicing software eases your work by simplifying auditing.
You can quickly figure out all of your expenses and receipts from one place when you are using a digital invoicing platform to get paid. You can also save yourself in an uncertain situation or if the IRS audits you.
As we have mentioned earlier, it takes just a few seconds to send invoices and get the deal done using online invoice software. They are even faster if you have to create recurring invoices.
Apart from that, it also allows you to share the link for the payment so that you don’t need to wait till the weeks for a client to receive, review, and return the invoice.
Invoices sent faster means the chances are high that you get paid instantly. In addition, clients can instantly pay by using the links provided in an invoice.
Traditionally, people in business were using paper invoices that were not environmentally friendly, whereas digital invoicing is more environmentally friendly than using paper billing. It saves trees and the environment.
You can save water and energy, and it also helps you reduce pollution. If you want to check out how digital invoices can reduce your small business’s carbon footprint, here is a Paper Calculator created by Environmental Paper Network.
Paper invoice processing increases the chances of human errors because it involves several steps. Processing wrong invoicing amounts or sending an invoice to the wrong customer can’t happen anymore.
Any error delays the payment process. It can also damage the impression in front of the client and harm customer relationships. Errors and disputes in the invoice process can cost you thousands of dollars. The send and resend will be even more damaging.
Online invoice software calculates the total amount for you to prevent errors. It adds the appropriate taxes and ensures that you are invoicing the right client. When you make a mistake in creating an online invoice, you can fix and resend it within a few minutes.
Modern and Professional
Last but not the list, an online invoicing platform provides a more modern and professional look and feels to your professional invoices. It will have pre-loaded invoice templates that can impress your clients and repeat customers.
It will also help you build a brand image so that whenever your client receives your invoice, they will recognize your brand instantly. This step will help you avoid delays and barriers in processing payments.
Many businesses want to stay ahead of the competition and provide their customers the best services and solutions. Traditionally they are already following many things to run their small business but adapting modern techniques will help them grow even more.
Being modern and professional at the same time through invoices and getting paid on time is the new key to success.
Try our free online invoice generator today!
Whether your business is in construction, landscaping, consulting, photography, auto repair, or the medical field, invoicing takes way too long. That’s why we’re here. InvoiceOwl makes your invoicing faster and simpler so you can get paid promptly and without the hassle.
What is online invoicing?
Online invoicing is a web-based or mobile-based solution that simplifies the way businesses generate and manage invoices. It also helps them in receiving, tracking, and processing payments. It also allows them to maintain their accounting processes by saving lots of time and helping you get paid faster.
What is the best software for invoicing?
It depends on the business owner to decide which invoice software can fulfill their business requirements and help them get paid faster. Ideally, the invoice software that offers the maximum features that can enhance your business process is the reputable online invoicing software.
How do I send an invoice online?
It is very easy to send an invoice online. If you are using an online invoicing platform, you need to add the client’s email address to the invoice for your services. However, if you want to send an invoice in PDF format, you have to download the created invoice in PDF format and send it as an email attachment.
How do I make an invoice for free?
You can use free online invoice software to create and send invoices within a few minutes to make a free invoice. You can also use Microsoft Word, Excel, Google Docs, or Spreadsheets. These platforms offer ready-to-use invoice templates that you can use free of cost. You need to fill in the details as per your need.
Create Professional Invoices Online Easily and Keep On Top of Your Finances
InvoiceOwl is a feature-rich invoicing app that helps small businesses, freelancers and contractors to create invoices on-the-go and get paid quicker!
Include invoicing software solutions in your business and get paid faster.
Naturally, the choice of online invoicing software depends on your business requirements, workflow, and accounting processes. Invoicing software fulfills your invoicing needs and manages your customers’ data.
Still, you should test all the new and old invoicing platforms to get the best deal and top features for invoicing or everything you need for your business.
InvoiceOwl is one of the best suitable mobile-based invoice software that allows you to have professional-looking invoices for getting paid on time. Try InvoiceOwl now and create your invoices in a matter of seconds.