15 Advantages of using an Online Invoicing Software
Many businesses now days preferring online invoicing software over manual invoicing in order to save time & money. One of the most important work businesses needs to do is to raise invoices to the clients and maintaining of financial information.
Previously, businesses were generating paper based invoices or create invoices on excel but it is not considered as the most efficient way. You need to use online invoicing software to speed up the process of generating invoices. Let us change the process of generating invoices by understanding the advantages of online invoicing software –
1. Fast & Simple
Manual process takes much time in generating invoices. Users of manual process need to fill out the spreadsheets or login into an invoice template site to enter essential information which takes around 10-20 minutes.
With the help of online invoicing software, you can easily generate multiple invoices as well as store all client information in the cloud such as client name, address, payment terms & preferred payment method. You just need to log into your account, select the client you want to invoice, input the due amount and send the same to the client. It is user friendly software which speeds up the entire payment process.
2. Cloud Storing
There is no need for you to worry about losing client data as all the client information is stored in the cloud (stored & saved online). Once the data is stored into the cloud, you will not face any issues like computer crashing or mail problems ever again.
The biggest advantage of using online invoicing software is automation. While setting up automation system and establishing a subscription based business model, you can send follow ups for upcoming invoices and reminders for due invoices too.
Automation saves time & money of your company and you can easily focus on growing your business. It also removes your frustration of communicating with clients again & again for payments.
4. Establishes Brand Identity
An efficient cloud based invoicing solution helps in establishing the identity of your brand. You can easily add your business logo, font&color scheme that matches your brand image as well as strengthen your company.
Your chances of getting paid on time increases by 3 times when you strengthen the identity of your company. Every company’s identity demonstrate its personality and expertise which comes when you care about your clients and send them customized messages such as “Thank you”.
Security is every person’s priority. Securing of data is a concern for every business now days. You will be happy to know that your data and every critical information of your business are extremely secured and safeguarded with SSL encryption in online invoicing software.
6. Deals with Many Currencies & Languages
With the help of invoicing software, you can easily do transactions globally as software supports almost every currency & language. For ex – A UK freelancer can easily bill his or her customer in India. A customer in India can order utensils from a company in US.
By entering the global market place, you can easily choose your preferred language and currency to deal with any person abroad and it was not possible before launching of online invoicing software. It removes payment barrier as well.
7. Saves Cost
Online invoicing software helps you in reducing your cost and saves your money too. There are many costs associated with manual work such as paper, ink, postage etc. Thanks to the online invoicing software as it eliminates all these costs and saves much of your money.
8. 24X7 Access
You can easily track & manage your invoices 24X7 from anywhere (office, home, travelling) or from any system (laptop, desktop, tablet or smartphone) anytime.
9. Make Auditing Simple
Online invoicing software helps businesses in making auditing simple. You can check your estimates, invoices, expense receipts and any other related documents in single dashboard at one time. It also helps in analyzing your financial reports and determining any eligible tax deductions.
10. Instant Delivery & Faster Payments
You can easily send an invoice to the client within seconds with the help of online invoicing software. You no longer need to wait for a client to firstly receive, than review and to return an invoice via slow mail process. With the help of online invoicing software, as soon as you will send the invoice, the faster you will receive your compensation from the client. Hence, it makes your sending & receiving process faster.
11. Environment Friendly
Online Invoicing software is 4 times friendlier than sending paper invoices to the clients as it saves paper which we obtain from trees. Hence, it is beneficial for us to use online invoicing software as it saves our environment and trees which saves us from water, energy &helps in reducing pollution too.
12. Reduces Errors & Disputes
Online invoicing software helps in reducing human errors which users face while doing paper invoicing such as processing of incorrect bill amount or sending the bill to the wrong client etc. Errors also cause delay in payments. Sometime these invoicing errors and disputes may result in big compensations too. With the help of online invoicing software, you can easily calculate the invoice amount, taxes as well as ensure that the right client is billed or not.
13. Enhance Customer Relations
With the help of online invoicing software, it becomes easier to make your clients feel like VIP’S. It makes your relationship strong with the customer as well as helps in increasing referrals resulting in new clients.
14. Puts you in the Driver’s seat
It’s not a secret that now days businesses needs to pay transaction fees & deposit fees at the time of processing of the payment. Online invoicing provides you an option to select the fast payment method at an affordable transaction rates. In case you are accepting digital currencies like bitcoin, such fees are generally eliminated.
15. Modernity & Professionalism
Online invoicing software creates your image & impression in front of customers and helps in giving your business a more modern & professional approach. It removes payment barriers and help in speeding up the payment process too.
How Nomisma Cloud Online Invoicing Software helps?
Nomisma cloud invoicing software is one of the best accounting software’s for SMEs, Accountants, Sole Traders, Contractors, Agents, self-Employed &Freelancers. It not only track and manage your invoices but also secure your data and the critical information of the company. It also helps in saving your time & money. This cloud online invoicing software provides you access to everything in a much easier way in comparison to other software’s. You will find everything online along with automatic updates and data backup. With the help of Nomisma cloud online invoicing software, you can run your business from any part of the world.