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Invoicing is integral to any small business; it is essential for getting paid in today’s digital age. Accordingly, mall businesses are constantly seeking ways to streamline their operations and improve efficiency. One key aspect of this is invoicing – the process of sending bills to clients for goods or services rendered.
Traditionally, this involved printing and mailing invoices, leading to delays and inefficiencies. But with the advent of online invoicing, businesses now have a modern and convenient solution at their fingertips. In this blog, we’ll explore eight compelling reasons why you should opt for online invoicing to revolutionize your business operations and drive growth.
8 reasons why you should opt for online invoicing
With the advent of online invoicing, businesses now have a modern and convenient solution at their fingertips. But if you are still stuck with the traditional ways of doing things, here are eight compelling reasons why you should opt for online invoicing to revolutionize your business operations and drive growth.
Improved mobility
Going digital with your invoicing allows you to work from anywhere. Being tied to a desk limits your business’s potential growth. With online invoicing, you can stay mobile, using just a smartphone, tablet, or laptop. Plus, modern payment solutions like Forwardly let you request business payments from clients and seamlessly reconcile them with your accounting software. Stay updated on the status of your invoices in real time, saving valuable time and keeping your business moving forward without interruptions.
Automated reminders
Oftentimes you send out an invoice to a customer and then end up forgetting about it for months and sometimes even forever; this is a common occurrence and problem that all small business owners face. If you send invoices with net 30 terms, but your clients are paying you net 45 or net 60, your business will under-perform.
Most online invoicing software can automatically send payment reminders on your behalf and some give the ability to set reminders for payment deadlines on every invoice you send out; you will never forget about an invoice again. This will greatly improve your chances of receiving your payments on time and management of your cash flow.
Tailored customization
Every small business is different and every invoice is a reflection of what the business represents. Customizing your invoices with your logo, colour scheme, font, and tone sets you apart from other businesses and allows you to stand out from the competition.
Reliable backup
Losing invoices is a real problem for both you and your customers. However, this is only a problem that affects non-users of online invoicing. Managing your invoices online means that you can store unlimited digital copies of any invoice either as an e-mail or a PDF. If a customer loses it, you can send them a new one in a matter of seconds.
Seamless integration
Most accounts payable and receivable software can be integrated into your accounting software, which helps make your life much easier. Some accounting software even has the feature directly built-in. By having your online invoicing integrated into your accounting software, allows you to see the immediate effects on your accounts and financials in general. Forwardly offers QuickBooks Online and Xero Integration to the users with 2-way sync capability. When you send out or receive a payment, you will them reflected instantly in your payables and receivables.
Money saved
Costs for paper may not seem like much at first, but very quickly those costs can begin to add up; especially if you are in a growing business. The costs for paper alone can add up to upwards of a thousand dollars annually. Online invoicing eliminates the need for paper since everything is done digitally and helps save you money that you can allocate elsewhere in your business.
Environmentally friendly
As mentioned above, eliminating the use of paper not only benefits you but also the environment. With the amount of invoices you send out per year, imagine how many sheets of paper you are printing out and how many trees you could be saving by going online. Why continue to waste paper when it is no longer a necessary cost?
Partner with Forwardly
Transitioning to online invoicing offers a multitude of benefits for small businesses. By embracing online invoicing, you not only streamline your invoicing process but also set your business up for growth and success. Don’t let outdated methods hold you back – make the switch to online invoicing today and unlock the full potential of your business.
Get started with Forwardly, the instant payment solution that seamlessly integrates with your accounting software. With Forwardly, you can streamline your accounts payable and accounts receivable process and stay on top of your finances effortlessly. Plus, why not gain a deeper understanding of Forwardly’s capabilities by checking out our product tour available here? Take your business to the next level – sign up for Forwardly now!
