For online invoice service providers, it is best to focus and understand two things initially: first is to know that there are multiple industry segments who have their own specifications when it comes to billing and second is that there are different levels of such segments. One such segment is SMB (Small & Midsize Businesses) which has captured a substantial business market share. On the contrary, the same higher chunk between 75% to 80% only accounts for less than 25% of the total business revenue.
Such a gap indicates that it is time to ensure that the billing and payment experience works for hand in hand, especially for SMB customers. An online invoicing application can ease this by optimizing the invoice payment process. Following are the 4 points that customers have to be found very keen about. They are:
1. Strict Invoicing & Payment Terms
The reason to keep the invoicing and payment terms clear, precise and strict is only to ensure the proper timing of payment and easy flow of the process. Cash flow for any organization including SMB forms the basis of success and growth. Your invoice maker should ensure to send payment notification or reminder so as to receive on-time payments. Maintaining good client relationships carry the utmost value in this segment.
2. Multiple Business Model & Skillsets
Startup enterprises or large corporations aren’t as wide-spread segment as compared to SMB. You would find a wide range starting from local service vendor to retail chain with multiple shops. Hence, goes the division of handling and managing the financial tasks of the business. These varying models upon which businesses operate makes the job tedious of providing a unique and optimum to experience that might work with all kinds of processes.
3. Simplify The Process
Irrespective of the number of employees and the revenue generated, the workflow of billing and payment remains similar more or less. Once the invoice is received, it is reviewed pertaining to all the details mentioned and upon approval, the payment is completed and filing of the invoice.
4. A Digital Invoicing Solution
A PDF bill is not enough as it limits a customer to dig deep and find more information. They aren’t able to make direct payments from the bill. These all inadequacies form up the disputes, inquiries, and payment related dissatisfaction.
A small but smart investment in a proper invoicing system will not only save you time but also helps your business grow. Know how can your organization or business benefit from opting a professional invoice generator that can not only help you with time tracking but also in creating professional invoice estimates.
Moon Invoice – a perfect offline invoice software that can be accessed on any smartphone with any operating system have a wide range of customers whose payment methods has been simplified by offering multiple payment options and also simultaneously catering to the numerous features related to invoicing, estimates, purchase order, expense tracker, time tracker, sync, print, payment notifications and many more.
The future of e-invoicing includes more aesthetic, holistic and customized services for buyers and suppliers. However, if all the industry players could rise to the obstacles then a universally crafted solution comprising of automated, secure, reliable and cost-effective practices could be established that will strengthen economies throughout the world.
Moon Invoice lets your business be on top of the competition with Instant Invoicing & Billing, an Easy track of Payment & Notifications, Accurate Insights & Reporting Data. Few amazing add-ons with Moon Invoice are that you can add & “Manage Multiple Businesses”, “22+ Professional PDF Templates”, “Import/Export & Print Utility” and data backup “iCloud sync & MoonSync support”.