Invoicing is one of the most difficult accounting tasks that creates stress for small business owners.
To make these regular tasks easier, switching to online billing is a great decision for most businesses.
Online billing is a much more efficient process than any other form of offline billing. In a traditional business model, every paper procedure is full of administrative steps. It is also time-consuming, which makes online billing the best solution to consider.
Here are the top five (5) benefits of using online billing software for businesses:
1. Faster payments
Each time an invoice is received by hand, the payment process takes time where it goes through several processes before organizing the payments.
Online invoicing software such as WYSII is developed to help you speed up your payment process.
Online invoicing consists of sending invoices and payment reminders before the due date. Therefore, the sooner you send your invoices, the sooner you will be paid.
And with online invoicing software, creating and sending your invoices is very simple and easy.
Read also: How do I create a commercial invoice?
2. Saves time and costs
Time is precious, everyone knows that. Having online billing software can save you a lot of it.
Not only you do not have to spend hours doing your invoices manually, but you will also get paid faster.
With an online billing tool, you can be sure that your invoice arrives on time and you can easily track it.
In addition to saving time, online invoicing software reduces and completely eliminates the extra cost associated with paper, envelopes and courier travel expenses when delivering invoices by hand.
In addition, you don’t need storage (everything is stored in the cloud).
3-Reduces paperwork
Paperwork is a problem. When it comes to small business accounting, the image of someone buried under piles of files and papers usually comes to mind.
Online invoicing software not only ensures compliance with the law, but also the correct numbering of invoices and compliance with legal notices.
With a good service, as a trader, you can filter your invoices by days, payment status or customer, as well as download or print them so that you can send them to your customers or your accountant.
4. Better organization
There are times when you might forget if a customer has paid or even looked at an invoice you sent. Choosing online billing software could make it easier for you to keep track of reminders and automatically generate invoices each time they are sent.
Using online billing software is probably the most efficient way to track sent, paid or unpaid invoices without overwhelming your customers with reminders.
Our well-designed and easy-to-use WYSII online invoicing software helps you automate the process without the need for your assistance, giving you the ability to send reminders in the event that an invoice has not yet been paid.
5. Very easy accessibility
When your files are stored on your computer, access to invoices becomes limited. With online invoices, you can access the information anywhere and from any device.
Simply log in to your account to find out which customers you need to start billing. You’ll have the ability to create and send invoices at your fingertips.
Online billing is done in the cloud, allowing you to manage customer information and billing from a single application. You can use it on your desktop, tablet or smartphone.
This means that if you can’t get to the office, are at home or travelling, you can send and manage your invoices 24/7.
6. Provides enhanced security
When your computer is broke, you also say goodbye to the most important files because you failed to create a backup. Online invoices give you peace of mind because the software is extremely secure and backed up in the cloud. It protects files from interference and loss.
By using online billing software, you and your customers can have peace of mind regarding the security of your personal and business data, ensuring that there will never be any data loss or leakage that could endanger your company’s or your customers’ personal information during the transaction process.
7. Personal branding
Your brand identity reflects your personality, professionalism and expertise. A small business needs to interact regularly with its customers.
When you strengthen your identity, you increase the chances of getting paid on time. It has been found that the incorporation of your logo multiplies payments by 3.
An online invoicing tool allows you to create professional invoices and strengthen your brand identity by providing beautiful invoice templates for online invoicing. The company can add their logo, complete company details and other custom messages to enhance brand presence and brand engagement with existing customers.
8. Eliminates errors and disputes
Errors and disputes are inevitable when processing invoices. Online invoicing reduces errors and disputes when creating or issuing invoices to customers due to human factors. With online invoicing software, all necessary calculations, including tax deductions, are managed by the software, reducing the risk of miscalculations.
These errors delay the payment process. They can also damage the relationship you have with your customer. These billing errors and disputes can end up costing you thousands of dinars if they are not handled properly. With WYSII, these errors can be corrected in minutes!
Read also: How to make a credit invoice?
9. Increase in business productivity
Automation is probably the biggest advantage of online invoicing. Automating your invoicing process saves time and money , increases the productivity and efficiency of your business. This means that you can set up recurring payments for long-term customers. For example, you can set up a subscription-based business model.
The automation system sends follow-ups and payment reminders for upcoming and overdue invoices. Automating these tasks saves you a lot of time and money and allows you to focus on growing your business. No more need to pay someone to perform these administrative tasks for you. It also eliminates the frustration of chasing these payments.
10. Financial management and audit
Online billing software gives you an overview of your financial activities and cash flow at a glance via a dashboard. This dashboard creates a quick and easy process when analyzing financial reports.
An online invoicing solution allows you to record everything. Your invoices, quotes, purchase orders and other debts online in a single dashboard.
During tax season, you or your accountant can easily determine eligible tax deductions by referring to your transaction history.
Conclusion
Whether you are a small business owner, founder of a start-up, consultant or large company, today’s Algerian market is increasingly competitive. Companies of all sizes must look for ways to save time and money.
The benefits of using an online billing software really outweigh the cost of its deployment. Choosing the right billing solution with the right features must be considered when changing the billing process.
Decided to make the change? Try Wysii, our free online billing software for entrepreneurs and small businesses.
