Three Reasons To Use Electronic Invoicing or An Invoicing Tool

Electronic invoicing is the practice of sending an invoice through electronic means, such as email, instead of paper. Today, businesses offer two invoicing options to their clients and consumers: they can either opt for paper invoices or electronic invoices. There are many advantages of using electronic invoices. This blog lists a few of them.

Business Invoicing Software

Cost savings

From the businesses’ perspective, the biggest advantage of switching to electronic invoices is cost savings. It costs a lot to purchase paper on which invoices are sent and then invest money in printing and postage. Electronic invoicing has none of these costs. Instead, electronic invoicing depends on software or invoicing tools that can be automated to send invoices at a fixed schedule. Invoicing tools saves businesses – both large and small – money. Businesses can use this cost savings to their advantage by passing on some of the benefits to consumers.

Consumer convenience 

If seen from the consumers’ eyes, electronic invoices are easier to accept and pay. Many businesses and firms are already developing techniques and including links in their invoices that allow their clients and consumers to pay straight through the email. Some firms have special agreements with bank that offer easy and quicker bill pay services to their account holders. When such an agreement is in place, clients can choose to connect their bank account with the invoicing system in such a way that payment occurs automatically at a fixed date.

There is no doubt that electronic invoices save consumers time and money. It is less expensive and more convenient to check the electronic inbox than go out to the physical inbox to accept snail mail and then spend on postage to pay for it. There are environmental benefits of using electronic invoices because it leads to reduced paper clutter and waste.

Faster payments 

A third advantage is the speed. Electronic invoices are faster; and here is one extremely compulsive reason to use them. This is the sole reason businesses that want to be paid early and quickly should use electronic invoices. An invoicing tool – at least in theory – allows for instantaneous payments.

There are many advantages of using electronic invoices. The top three of them are: cost savings, consumer convenience and faster payments. 

Why use Online Invoicing Software For Recurring Invoices?

Recurring invoices are mainly used by businesses that provide subscription services. These businesses are often the providers of products and services whose use is ongoing. For instance, many magazine publishers, internet providers, and electricity distributors prefer recurring invoices over one-time billing. They do this for several reasons. For one, it is more convenient. For two, it makes accounting easier. For three, it maintains uniformity and gives away an impression of professionalism.

It is time consuming to create online invoices manually. This method is prone to errors, too. A faster and more efficient way is to use an online invoicing software, or a project invoice software. Such tools have several advantages for your business, if you use recurring templates more often than one-time billing. This blog lists the top two of those advantages:

(a) Time efficient

Online invoicing software is time efficient. It creates invoices faster because templates are often readymade. If you are using the right tool – such as Talygen – you have a vast array of templates available. It is possible to use any of them. Picking up a template and setting it as the default for recurring billing saves you much time.

(b) More professional

Professional invoices are paid faster. An invoice software produces professional-looking invoices and keeps their design and format uniform over the course of many months. In contrast, handwritten invoices are more prone to changes in design and format. Frequent changes in invoice appearance can lead to payment delays.

There are many advantages to using an online invoicing software. The advantages are particularly great if you frequently use recurring invoices. In which case, a software tool can help you make more professional invoices without demanding long hours from you. So you make invoices fast, without compromising on quality and get faster payments. 

Four ways to get paid in time

Nearly two-thirds of small- and medium-size businesses (SMBs) wait for 60 days before getting paid. These are the results of a survey carried out by the National Federation of Independent Businesses (NFIB). The respondents participating in the survey said that the delays were on the rise. Two-month long delays do not bode well for businesses. They need immediate funds to pay their bills and continue growth.

The good news is that business can reduce the waiting time to 29 days – nearly four weeks faster – if they use a combination of best invoice practices and the right invoicing tools. This blog suggests four strategies SMBs can use to get paid faster.

• Sign a written contract

Miscommunication or confusion on payment terms leads to delays. You can avoid much headache and long delays if you and your client sign a written contract in the beginning. The contract should specify the services and/or products you will provide and the payment terms. A clear contract cuts down on confusion and leads to stronger relationships.

•Send invoices quickly

Any delay in the delivery of invoices leads to late payments. Send your payments the moment you have achieved a milestone or finished a task. You increase the chances of a client paying you quickly when you do this because the work is still on the client’s mind.

• Create clear invoices

When you create an invoice, ask yourself if it is crystal clear. Miscommunication and over-communication are hindrances to quick payments. They can confuse your client. Include all the essential information in your invoice. And, present the information in a format that is readily readable.  There are a few excellent web-based invoice creation tools available. You can create clear invoices through them.

• Use an invoice management tool

Do not rely on paper and pen. It is time consuming, it is slow, and you are more prone to mistakes. An invoice management tool promises consistency. It is rapid. And if you are careful, it never makes a mistake. An additional advantage of software is that it maintains a professional tone in your invoices.

Businesses can cut down on payment delays if they agree on payment terms in advance, send invoices quickly, keep them clear, and use an invoice creation tool instead of relying on pens and paper.

Three ways Invoicing Software can Help You

The emergence of the internet has created a new-style economy. More people are working as freelancers than ever before. This has created opportunities for people who love to work from home. At the same time, it has produced a new set of responsibilities for you. Now, you not only have to focus on your work, but also ensure that you get paid for it. Online invoice tools can help you in here. This blog lists three ways in which online invoice tools let you be your own accountant.

• Automation

It saves you a lot of time if you can automate invoicing. Software does exactly this. No longer you will have to spend hours writing invoices with your hands. An automated software tracks your money without a lot of interference from you. It keeps an account of projects to be billed, and sends your clients the invoice the moment the project is over. Therefore, you can focus more on your work and less on billing clients.

• Quicker billing

An effective method to maintain a healthy cash flow is to bill your clients quickly. An invoice software bills your clients promptly. It tracks if your clients have paid you, and imposes a fine for late payments. This is an professional and headache-free method to get paid in time.

• Professionalism

Automated invoicing maintains professionalism. If you are writing by hand, your invoices will not have the same appearance. (Unless you are a calligrapher). If you are not using an invoice software, the design and format of your invoices will fluctuate - producing a bad impression among clients. An automated software keeps the format unchanged and in a professional shape. Many invoice software come with in-built templates which you can use to create professional-looking invoices.

There are many advantages of using  professional invoicing software. The most important of them are that it automates the entire process (thereby saving you time), it ensures quicker payments, and it maintains a semblance of professionalism.

Top Five advantages of using Online Invoice Software

Are you still using paper invoices and snail mail to bill your clients? You can do better with online invoice software. The use of a software make the entire invoicing all the way faster and more effective. This blog lists five top advantages of using an invoice software for your business.

Easier to use

The biggest advantage of an online invoice software is that it allows you to create and send several invoices at once. It keeps records of older invoices in retrievable form. The saves time and increase productivity. Creation and management of invoices through a software is almost an effortless task.

Expense tracking

Top notch invoicing software, such as Talygen, come with many features. Expense tracking is often one of them. You can keep tabs on your expenditures through this feature.

Early payments

Software keeps a meticulous track of your payments. It tells you when money is due, it highlights clients who have not paid in time, it lets you know when you can impose late payment penalties on them, and it can send out reminders to your clients at scheduled intervals.

Cash flow

An effective method to maintain a healthy cash flow is to send invoices in time. Electronic invoices take less than a few seconds to reach the inbox of your clients. In comparison, paper invoices can take anywhere between a day and a couple of weeks. Through a project invoicing software, businesses can create and send invoices instantly - the moment a project has finished.The electronic process saves time and maintains a healthy cash flow.

Relief from grueling paperwork

As your invoice data is stored on a server, it reduces paperwork and the need to store copious amounts of paper. Electronic data is more easily retrievable. In comparison, digging for a piece of information through a box of paper files can take ages.

The top five  advantages of installing an invoice software  on your work computers is that it brings a relief from cumbersome and time-consuming paperwork, increases cash flow through early payments, tracks expenses, and does all this without much of an effort on your part.

Four ways Businesses Invoicing Software saves your Time and Money

Using a business invoicing software can really save you time and money. Small and medium-size enterprises can particularly benefit from it. They can improve worker productivity, reduce time spent on monetarily unrewarding affairs, and boost revenues. This blog lists five ways in which an invoicing software for small businesses helps you save time and money:

• Worker productivity. Imagine running a company of 50 people. To manage their expenses and to keep an account of the sales they make, you will need to hire an accountant, or ask your employees to maintain records. Hiring an accountant is expensive, and record maintenance affects the productivity of your workers. A invoicing software helps you maintain accounts duly, without negatively affecting worker productivity in the least.

• Faster invoicing. In a time when appearances matter so much in business, you can play to your full strength if you use an invoicing software to create professional-looking documents. They look better than handwritten invoices. They are easier on the reader. They are quicker to create. It is faster to use an existing template from an electronic invoice, use that template, and email the entire thing to your clients.

• Quicker collections. The first step to getting money from your clients is to send them invoices as quickly as business ethics suggests. Invoicing software is a method to do that. It lets you send an invoice the moment the work is over. This is a faster way to collect money and reinvest it in other productive enterprises.

• Effective reporting. A big advantage of using an accounting software is the ability to determine payment status of customers and get instant access to other actionable data. Without a software, it begs hours of hard work involving paper files. Businesses can save money and time through the software’s quick data retrieval.

There are many advantages to using a business invoicing software. This blog has listed four of them. The use of an invoicing software improve productivity at business, makes the entire task invoicing faster, ensures effective reporting, and most importantly, gets you your money quickly. 

Three reasons to use an Online Invoicing Software

The worldwide sale of desktop computers will be more than 275 million units in 2014, according to Gartner. It predicts the shipments of PCs, tablets, and smartphones to 2.5 billion this year. In the age of these mind boggling numbers, it is staggering to learn that many businesses continue to manually create invoices or use outdated invoice software programs. It seems the warmth of cloud computing has not reached at their doorsteps. If it has, they are deliberately ignoring the existence of online invoicing software. It can be out of the fear of trying out new tools, or it could be one of the million other reasons.

This blog attempts to help those businesses to give up their fear, and embrace online project invoicing software, by listing the top three advantages of such a software:

* Mobility is the word of the age. - There are immense advantages of being able to bill clients online. It allows you to create and send invoices from your tablet or smartphone while travelling. It does not require you to rush to your computer after every task and use an outdated program to bill your clients.

* Automatic invoicing saves you time. - Modern online invoicing software, such as  Talygen’s Invoicing Tool, automate the entire process of invoicing. No sooner have you finished your tasks, do these tools send an invoice to your clients. It takes a few seconds. Your job is to find and revise details and then press the SEND button.

* Professionalism brings more business. - No one wants an invoice in crappy writing. Even if you are good at penmanship, it is still a more effective strategy to use an online invoicing software. Such a software creates invoices in professional templates that keep information in a uniform and well-organised format. Another advantage of using a web based tool is that it maintains consistency across clients.

There are many advantages of using  project invoicing software. You have read three of them. They are: it saves times, it lets you create invoices on the go, and it attributes a professional looks to your business.