Invoicing shouldn’t be tedious or complicated
Everyone knows a smooth billing process saves you time and money, yet many small businesses are frustrated their invoicing system. This seems counter-intuitive, because making money should be fun!
So why do small businesses find the billing process such a headache? One common issue is the re-keying and double (or even triple) handling of invoice data. Many people with traditional invoicing software still use a manual process – typing up each new invoice to deliver it via snail mail.
Cashflow is essential for small business, and invoicing plays an integral part in their success or failure. However, getting paid on time is not something businesses are confident about at the moment. According to recent data published by Dun & Bradstreet, businesses are waiting 54 days to be paid. These payment delays have a negative effect on cashflow and mean that money isn’t available for small businesses to pay their own bills.
If your invoicing is easy, quick and available online, the flow of money is much faster. If you can generate an invoice while you’re out and about, or on a job, then you’re ahead of the game. The faster a customer or client receives an invoice, the sooner you get paid.