Online invoice: Why businesses should start using them
Over the past decade or two, online invoicing has gained so much popularity all over the world. Businesses from small scale to large scale, freelancers to traditional businesses, almost everyone has made the switch from traditional invoicing to online invoicing and has seen a huge transformation in managing the cash flow in their businesses. But in any case, if you are a business owner and haven’t tried your hands on online invoicing, here are X reasons why every business, be it big or small should start using online invoices.
1. Speed up customer payments
If you are tired of waiting for months to get paid after you send your invoices manually along with timely reminders, then this will blow your mind!
A recent survey conducted by a financial software company states that around 25% of companies that faced low payment rates while following the traditional invoice methods have seen a 15% increase in the rate of getting paid after adopting online invoicing to collect payments.
2. Time-saving perks
Another survey points out that switching to online invoicing can save so much time and energy spent in managing payments and bookkeeping and increase your income up to 3x times!
You can easily reduce the manpower as well as the time to send invoices and reminders every month to your recurring clients by automating the whole process in Invoice Temple or any other online invoicing software.
Save your time in hiring bookkeepers to manage all the admin tasks and instead focus on building a smooth customer experience for your clients and thereby building more clients!
3. Anytime, anywhere and to anyone!
As all the information of you and your clients gets stored in a cloud, both of you can get access to the invoice anytime, anywhere on any device on the go. Because of this cloud option, you now have to never worry about wrecking your documents by storing them in a hard copy format or hard drives that can easily get affected by viruses.
4. Optimized workflow
With the software making almost zero errors while creating invoices, you no longer have to spend your time cross-checking and double-checking the data again and again. Enter the billing data once in the software, and it will be completely automated to perfection for every client of yours.
Also, as the online invoicing software has a built-in feature for multiple payment options for your clients, your clients can choose the most convenient option for them which can be a nudging factor that encourages them to pay on time!
This option was more useful, especially during the time of the pandemic when there were crowd restrictions and limitations in social events and shops.
With 100% secure and encrypted software for invoicing you no longer have to fear losing all your bookkeeping data and reduce the burden of the in-house staff!
5. On the track, always!
The online invoicing software can help you tick off all the tasks easily and keeps you on track of all the billing details and payment details while you go for filing your taxes.
With the high volatility and market shifts, online invoices can help you keep track of all the invoices and bills in one place. It’s like a forecast of money that’s coming in!
Month ends are made super easy for you as you know by yourself the incoming payments that can help you plan your bills accordingly.
6. Establish your brand
With a lot of customization available in the online invoicing platform, you can always choose from a range of options such as the brand colors and logo to the kind of templates that you want to use to send out the invoices to your customers.
It is a win-win situation, as you strongly establish your brand in your invoices through various elements such as the brand signature and fonts with a touch of professionalism and also get paid on time!
7. Eco-friendly, budget-friendly too!
As net-zero is the future and sustainability is the new branding tool, switching over to a paperless solution like an online invoicing platform will be the best of both worlds as it can benefit both your business and the environment.
Not only that, but due to the paperless transition, you can save room for other investments instead of having to spend on all the paper, ink, and storage of the invoices.
By adopting e-invoicing software, you can connect to a global set of clients waiting to pay! Gain more visibility and control over the process which results in reliable long-term business relationships!
So, why is it that you are still stuck on paper invoices and PDFs? Get your hands on the free invoice software by Invoice Temple to create and send invoices faster than ever before. Signup now for free!