Online invoicing software: how to make the most of it
Running a business can be stressful at the best of times. Whether you’re a huge corporation or a small business, the admin tasks often feel neverending.
As a business grows and expense tracking becomes more difficult, having online invoicing software to support you is essential to reducing your workload and managing the intricate details that can be overlooked as things get busier.
But integrating an online invoicing software system isn’t always straightforward, as it takes finding the right one for your business to be able to get the most out of it. However, if you follow our advice, you’ll be able to have your online invoicing software work hard for you. We’ll explain everything you need to know in this article, including:
Online invoicing software is a tool that is used by businesses to email invoices with built-in payment options.
Many online invoicing softwares have customisable features that allow you to change the format of invoices, the types of payment options and different traffic options. You could even send reminders, automatic follow-up emails and review the results of any invoices sent out, whilst transferring the information to any connected datasets.
How does the best online invoicing software help your business
Compared to paper, email and fax invoices, the best online invoicing softwares will streamline the process for businesses.
Not only does it monitor and track the information you need to be able to balance your books properly, but it also speeds up the process so that people are paid faster and your work is done quicker. You’re also able to spot when an invoice hasn’t been paid or if there are any issues, so you avoid lost profits and can keep on top of recurring payments without the stress.
How to make the most out of your online invoicing software
Whilst it’s clear that an online invoicing software system will make day-to-day life running a business easier, getting the most out of it can be difficult if you don’t know where to start. We’ve rounded up six key points that you need to follow when you implement your online invoicing software if you want to ensure you’re maximising its impact on your business.
Set up recurring billing
It’s easy to get lost in all of the work a business takes to run, and having to remember to send or receive specific invoices every month is just another thing on the neverending task list that you could do without.
By ensuring that your online invoicing software has a recurring billing set-up, you’ll be able to relax knowing the awkward invoices that slip you by every month are organised and taken care of.
Single or batch Invoicing
Repetitive tasks can take up valuable time from business owners, often stopping them from working on successful building projects.
By having batch invoicing options readily available, you’re able to save time you’d waste sending lots of invoices out by actioning them in just one click of a button.
Single invoices are also an option, with customisable invoices, invoice generators and templates and mobile app adaptable files too.
Manage customer refunds
Customers are the key to success and need to be treated with respect and understanding, especially when there’s been an issue with the service or product that they’ve received.
Having your online invoicing software system set up to be able to handle customer refunds won’t just take a load off of your mind, it will ensure they’re getting the best service possible. Online invoicing software systems are designed to be speedy and efficient, so you can relax knowing that your customers won’t be waiting around for their money back!
Having flexibility available to you is a huge part of getting the most out of your online invoicing software, and cross-border invoicing is integral to that.
By having multiple currencies to choose from when invoicing your customers, you’re able to expand your business further across the globe and to bank accounts in different countries, and not have to suffer the technical and intricate details of it in the meantime.
Customer-controlled payment calendars
There’s nothing worse than a payment deadline being missed and having angry people on each end trying to get to the bottom of the issue.
If you’re going to get the most out of your online invoicing software system, ensure your customer-controlled payment calendars are enabled. This will allow customers to set their own payment schedule that works for them, keeping everyone happy and paid.
Instantly check payments
The last thing you want to have to do during a busy business day is to begin tracking payments to spot any issues you may have to resolve.
Get the most out of your online invoicing software to remain productive by tracking and instantly checking payments. By having this data to hand you can easily pinpoint any problems, resolve them and see them in real-time.
How Fondy can help
Fondy’s online invoicing software works to support any sized business with their invoicing and payment processing, and the specialists behind the service have developed a merchant portal app that is invaluable to businesses looking to boost productivity and see long-term success.
The merchant portal app, available for iOS & Android, sits alongside your online invoicing software and allows you to monitor key information that you need to have readily available, all at a glance. With an interface designed to make life easier, you can confirm that all your payments have been sent and received, their overall process and any issues that need your attention.
It’s all been created with the business and customers in mind, by a team of passionate experts who have been in the industry for decades.