Many businesses have long relied on manual invoicing systems that are too tedious, repetitive, and often prone to error. These processes also make it challenging to keep track of customers who are yet to settle their remittances.
Sticking with inefficient invoicing systems costs valuable time and money, which could have gone to more practical aspects of the business. Invoicing is an essential administrative task, and companies need a reliable tool that will streamline operations and guarantee payment.
Enterprises must replace manual systems with invoicing software that complements their modern business needs. However, with numerous invoicing software providers in the market, it is challenging to choose the right one. An excellent invoicing platform that gets you paid should have the following features:
Invoices play a vital role in your branding. By placing the company’s name or logo on your invoice, you can strengthen your identity and ensure credibility among customers, improving your chances of getting paid on time.
Therefore, it is crucial to choose a platform that enables you to customize your invoice according to your brand requirements. Some invoicing software has pre-defined templates that you can filter based on your industry and preferences, making customization easier.
Allows Credit Card Processing and Other Modes of Payment
Customers have varying preferences when it comes to payment. Catering to their needs encourages faster payment using your invoicing software.
As more consumers move to the virtual world, their demand for convenient transactions increases continually. Credit cards are no longer the only means of virtual payments as other platforms for cashless transactions, such as mobile payment apps, online banking, third-party payment processors, and cryptocurrency, are emerging and gaining popularity in usage.
Enables Multi-Currency Support
Whether you are a business that is planning to expand internationally or one that has already established a global presence, your invoicing software should allow you to accept various currencies.
International clients are often inconvenienced with limited payment options and hassles in currency conversion, denoting a poor customer experience. By enabling a multiple currency feature, you can process international payments faster while providing customers a seamless transaction experience.
Provides a Centralized Customer Management System
With so many customers doing business with your company from day to day, it is not easy to keep track of their details when you rely on a manual system.
Using invoicing software enables you to capture and store client information with speed and security. Through automated invoicing, you can better manage your customers’ data and have a unified view of their profiles. Having a centralized system is also essential when handling multiple transactions from one client or sending recurring bills.
Creates Quotes that are Easily Convertible to Invoice
A sales quotation is your first point of contact with prospective clients, and it can make or break your business with them.
With a digital invoice maker, you can create professional quotation templates that can be quickly sent to potential customers. When they are ready to finalize a purchase, you can use your invoicing software to convert your quote into an invoice for faster processing.
It eliminates the need to create a brand-new invoice so that you can get back to your client in no time. Through efficient services enabled by invoicing software, you can encourage clients to pay faster.
Includes Other Transaction Details
Additional transaction details such as taxes, discounts, other promos, and shipping should also reflect in your invoice. Separately sending this information might discourage your customers from paying on time.
Your invoicing software should enable you to simplify inputting this information to avoid inconveniences. When you insert the discount percentage, promo codes, or the amount for tax and shipping, it should calculate the new sum and update accordingly.
Supports Automated Payment Alerts
Sometimes, customers are too absorbed in their daily lives that they might forget to settle their payments. They often fail to remember the invoices you sent, as these are most likely buried deep in their inboxes.
With an automated dunning feature, your invoicing software can notify your clients when a payment is due soon or if they have overdue remittances. It helps reduce payment delays or missed remittances.
Provides Detailed Financial Reports
Knowing how your business is performing is essential in managing your operations.
Your invoicing software should collect the data you need and generate reports, providing critical insights into the business. It should enable you to monitor outstanding invoices, on-time payments, late payments, buying patterns, and many more, which can help with decision making for future actions.
As industries become more digitally inclined, it is time to replace conventional invoicing processes with a modern tool that simplifies tasks and ensures efficiency.
With invoicing software, you can encourage more on-time payments, streamline payment collection, and enable efficient activity management and customer monitoring.
It can also improve productivity by eliminating redundant tasks so that you can focus on more crucial parts of your business operations. Having a digital invoice maker can also improve cash flow and allow you to meet your customers’ demand for a seamless user experience.
When choosing a digital invoice maker, it is crucial to keep in mind the industry where your company belongs and your business needs. Many companies offer an online invoice maker and other solutions to supplement your business operations. By working with the right partner, you can leverage the ideal invoice solutions for your business with features that can get you paid in no time.
Where to get an easy-to-use and time-saving invoicing software that gets you paid?
KIPPIN is a cloud-based accounting and bookkeeping service tailored to simplify the everyday tasks of businesses. We align our clients to top financial experts on our platform to take care of all your accounting and invoicing needs. We also provide software-only solutions to automate processes, making them quick, easy, and remotely accessible.