Good invoicing apps can save you an immense amount of time as you grow your small business. When the end of the month approaches, many small and medium sized businesses find themselves dedicating a set amount of time to get their billing in order and invoices sent out to the right clients. This can be a long process that may end up taking some significant effort that could be better directed elsewhere in the business.
As technology advances and more and more software is developed, functionality for business is at the forefront of many people’s minds and this is where invoicing apps can be a worthwhile consideration.
How does an invoicing app function?
When businesses don’t have a straightforward, effective invoicing system in place like an invoicing app for small business by vcita, it can complicate the payments process and even tracking – costing time and money that many simply can’t afford. Implementing intuitive automation software can perform a host of tasks and ensure that everything is present and correct and functions exactly as expected, while freeing up time for those who typically undertake this role.
Businesses can expect an array of features and while these may vary from app to app, this type of software will typically:
- Create and provide customization for invoices
- Support convenient billing and invoicing processes that can take just a few clicks
- Create auto-generated reports
- Perform data analysis
- Automate invoice and financial tracking
- Integrate online payment platforms and other necessary software
- Support multiple currencies
- Have tax adjustment capabilities
- Manage records, transactions, data and databases
- Support quote to payment conversion for invoices
- Have pre-configured invoice templates
- Send automated reminders to late-payers
Benefits of using invoicing apps
With such a wide array of features and functions, there are a host of benefits to take into consideration. The top four are:
1. Potential savings for time, effort and money
Aside from the obvious time-saving benefits that can come with automation, an invoicing app can assist with organization when keeping records of current and past invoices and payments. As this software can be accessed via mobile devices, any financial staff won’t have to wait to get into the office to access important information and deal with any invoicing issues that may arise.
2. A central location for client information
One of the top advantages of invoice tracking software is that it provides a central hub to access, store, edit and share clients’ contact details, as well as individual payment history (where applicable). The good news is that this information can typically be accessed both online and offline, to increase functionality.
3. Fast, intuitive payments
Not only will clients appreciate the ability to make payments in just a few clicks, but this can provide the added benefit of increasing cash flow for businesses. Invoicing apps make both sending and receiving invoices all but instantaneous.
4. Create and customize invoices
Not only will businesses be able to create invoices quickly with simple access to customer information, but there is the added bonus of customization that can tailor the process to meet more specific business and brand requirements. This can include the ability to add company logos, corporate symbols and more, as well as including more relevant details or removing ones that simply don’t fit.
Typical invoice templates include:
- The customer’s name and pertinent contact details
- Product/service quantities
- Any applicable discounts
- Sales tax details
Additionally, automated invoicing software can also take quotes and add them onto templates once they have been agreed upon and finalized by clients. When recurring invoices are necessary (for repeat or long-term clients), this can be especially useful.
Is it time for businesses to upgrade to invoicing app software?
Mobile invoicing apps tend to have greater functionality than desktop software (mainly in terms of accessibility), and as a result, many businesses find it easier to use. When adding client information, invoicing apps give users the ability to create entirely new invoices or import existing details and click to send. With this in mind, many businesses find that auto invoices can prompt faster payments and increase turnover, minimizing the time spent chasing up payments.