According to a latest study, approximately 70% of the businesses are still using manual method for billing and invoicing activities. It is really a huge surprise in this Internet age.
Businesses are making huge IT investments in areas like networking, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and other high cost areas. In the past 6 years, IT investment has been increased to 360% across the globe. Conversely, for some unidentified reason these businesses are showing little or no interest in investing and implementing a billing invoice software system which comes at comparatively low purchasing but can save big amount of effort, energy, time and even money for the business.
Online billing invoice software can offer businesses and its customers with all the necessary information and can also keep track of all billing and invoicing related activities, if integrated properly with the general website of the business.
Having an integrated billing software will increase the accounting transactions transparency, hence the accountability of the business. Customers will adore this and it even increases the competence of the business in that department. It will also let businesses to efficiently manage business plans.
Although open source platforms are on huge demand, the majority of the billing software comes as a web enabled services. Some of such web based billing systems have the ability to create portfolios of different types.
Most of the small, mid, and large scale businesses will have clients from different segments and industries. Therefore, it is vital to deal with all types of businesses for all the billing and invoicing activities. As said earlier, most of billing software is web enabled; they must be running on all the types of web browsers without any interruption. It should also be capable to work with any type of internet connection, whether it is DSL, broadband or even a dial up.
If we talk about the other features of such web based billing invoice software, most of the better ones comes with features such as create new invoices, create new service items, online payment gateways, predefined billing templates, tax calculation, invoice report, payment report, tax report and many more.
Report generation is one more significant feature of the business billing software. Professional invoicing software should be able to produce customized reports such as invoice, payment, and tax by basing on the customers and/or management team requirement. Well organized billing software also allows you to export those reports, statements, and invoices in to regular supported formats like excel, PDF and word. Normally most of such web enabled software also supports the set up reminders feature. This will help businesses to remind their customer at certain intervals about pending payment.
An additional big benefit of the online billing software system is saving of time, energy and effort. Time, energy, and effort spend on mails, phone call, fax and physical meeting can be completely avoided using such web based billing software.
Unless and until your company is a specialized and have budget in making these kind of billing product, it is always sensible to get an online billing software that fulfill your business requirement. It is always be a low cost solution and will be very fast as no software implementation is required; you just start using in a minute. However, you should always look at a vendor who has a good track record in customer support and who provides with an online demo and free plan before you dive into paid plan.
