Companies need to deliver invoices in order to demand payments. That counts to more than 100 invoices per month in a thriving business. According to a Hubspot research survey, 49% of small businesses that create an invoice find it difficult to follow up late payments and 46% find it difficult to be paid on time. Also, 27% have difficulty in creating an invoice. In a country like India, almost all the payment-related operations are still manually done in small and medium businesses while most large corporations have adapted to the technological advancements. Business owners don’t trust online invoicing solutions for small businesses as compared to a human resource because of lack of awareness of technological benefits of online invoicing solution to their business.
But a lot of customers prefer online invoicing solution for their small business. Let’s take a look at some of the benefits of online invoicing solution over manual billing –
- Branding: Online invoicing solutions like Easebuzz Smart Billing give a more professional look to your small business, allow you to add your logo (the identification mark of your brand), customize the arrangement and send personalized messages to the clients that reflect your values and establish your brand.
- Increased productivity: An Online invoicing solution saves time. It helps you in creating invoices and also sends automated payment reminders to your customers. It makes it easy for your customers to make a payment via various payment methods and thus saves a lot of time for your business and ensures faster payment as compared to manual billing effort.
Online invoicing solutions like Easebuzz Smart Billing also help in automating and managing recurring payments from subscribers (if any).
- Simple finance management: Not only does it make it easier for the customers, but it also simplifies business owner’s tasks. The business owner can get comprehensive reports and can analyze the revenues and growth of his business in financial terms also with an online invoice solution like Easebuzz Smart Billing. Analysis becomes much easier in online invoice solution for small businesses compared to the tedious paperwork involved in manual billing effort.
- Data Security: Whether it is losing paper or the risk of the paper landing in wrong hands, there is always a risk of human-error and a risk to the privacy or confidentiality of the sale numbers in case of manual billing. However, in an online invoicing solution like Easebuzz, you can actually have a Smart Billing system that stores all the information in the cloud in a safe and secure manner.
- Multi-language and Multi-currency support: With businesses going International, it becomes far more important to have a payment solution that supports multiple languages as well as multiple currencies for easier transactions. Thus, there is a need for an online invoicing solution since manual billing system will not work in this case.
- GST Compliance: If your small business requires to add GST details and provide discounts, it is more beneficial to rely on an online invoicing solution rather than a manual billing system because it becomes easier to manage the prices and transactions involved in case of an online invoicing solution where a business owner can add GST details and discounts, if necessary.
- Comprehensive dashboard: Having all the transactions at a single place from where a business owner can add, delete or edit an invoice, check all the customer details and the payment details is hassle-free in an online invoicing solution like Easebuzz Smart Billing, which is out of question with manual billing.
The best online invoicing solution will include multiple payment modes so that clients can pay from anywhere anytime, automated payment reminders for businesses to ensure receiving timely payment, downloading invoices so that businesses can send invoices to the clients, feature to add GST and discount details, dashboard and reports for better invoice management, etc in a secure manner. All these features are combined in Easebuzz powered Smart Billing online invoicing solution for small businesses. Apart from this, it also includes replicating invoices, QR code payments, split payments and many more features to make invoicing and recurring payments easier for businesses. Sign up with Easebuzz Smart Billing online invoicing solution in 2 easy steps to grow your business today.