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.

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.