It is shocking to learn how many businesses are still manually creating their invoices and using outdated invoicing software programs. There are so many more efficient ways to generate invoices and keep tracking of your company’s financial information. In today’s competitive marketplace, businesses need to invest in better technology like online billing to save their company valuable time and money.
These are the 10 Advantages of Billing Clients Online:
1. Online Billing Offers Mobility
Billing clients online gives users unparalleled convenience and accessibility. It allows you to create an invoice at anytime from anywhere with Wi-Fi access. You can email an invoice the moment a job is complete using a mobile device or a home computer. You can also access valuable online invoicing reports while traveling, so you always have the most up-to-date information at your fingertips.
2. Invoice Calculations are Done Automatically
There is no need to second guess totals when an automated computer program is doing the calculations as each figure is entered into the system. This will save you from manual calculation and entry, which will also reduce the chance of potential errors.
3. Invoices always look professional and consistent
Every quote, invoice, and letter is a representation of your business. Billing clients online using predetermined templates will make everything that everything looks uniformed and well-organized.
4. Invoices can be emailed directly to the client
Another benefit of online billing is that there is no waiting for invoices to arrive via traditional snail mail. This will put invoices in the client’s hands sooner, so any issues or concerns can be quickly answered without delaying payment.
5. Save money on paper, envelope, and stamps
Most companies who don’t bill clients online will end up printing various copies of each invoice for their files, as well as sending their client a copy in the mail. Billing clients online securely stores the information from each invoice online, so there is never a need to print a copy. You also won’t need to purchase stamps and envelopes.
6. You can request a read receipt, so you know it has been read
Billing clients online eliminates the old excuse that the invoice must have been “lost in the mail.” Most online billing software programs will automatically request a read receipt, so the client will need to confirm that they have it in their hands.
7. Send client automatic reminder notices before invoices are due
Online billing also gives you the ability to email clients professional reminder notices prior to an invoice being due. These gentle reminders will improve a company’s chance of being paid on time.
8. Instantly updates all of your financial reports as soon as the invoice is generated
Every time a payable or receivable is entered, every corresponding financial report is automatically updated. This will ensure that all reports are current and as accurate as possible whenever they are needed.
9. Manage client contact information and billing from the same location
Billing clients online combines the contact details, purchasing history, credit balance, and payment terms for every customer in one central location. Project managers and sales professionals can access any information they need from anywhere with the click of a mouse.
10. Check outstanding receivables from anywhere at any time
If you are considering making a new purchase or possibly extending additional credit to a client, online billing will give you an updated receivable report on your PC or mobile device. This will make it easier to make informed decisions for your business no matter where you are physically.