Did you know that organizations relying on cloud accounting systems have 5x more customers than those who don’t?
Online accounting software can simplify the way your workflows and even reduce your desk time. Cloud invoicing ensures that your data is always safe.
Moreover, when it comes to tracking time, billing clients, and project management, cloud-based accounting software can help you deal with multiple clients and increase operational efficiency. As a result, 67% of accounting professionals would choose cloud accounting over traditional methods.
Here is how cloud-based invoicing software can immensely benefit your small business.
What is Cloud Invoicing Software?
Cloud invoicing solutions are modern and self-installable billing solution. When they are hosted on servers, you can access them from anywhere through desktops, mobile apps, and tablets.
While it is pretty similar to a SaaS (software-as-a-service) model, cloud hosting comes with several benefits and advanced features. Moreover, it eliminates the need to install hardware and lets you save on space.
Cloud invoicing is the stepping stone of automation and innovation. Most organizations are saying goodbye to cumbersome and time-consuming payment processes.
As per a study by Zion Market Research, the worldwide online invoicing market is slated to reach $20,529 million by 2026. This rise will be due to enterprises placing their trust in cloud-based solutions. The shift can be attributed to low costs, sustainable business growth, and high operational efficiency.
Here are some of the advantages of investing in cloud invoicing software.
Why Should You Use Cloud Invoicing Solutions For Your Small Business?
1. Easy Information Access
As a freelancer or solopreneur, you would wish to break free from an office space and work from a place of your choice. Be it your home or a hill station, cloud-based invoicing can help you generate invoices in minutes.
The best cloud accounting software for small business guarantees that all the relevant data is within your reach. So, you can say goodbye to multiple files and folders and spend hours looking for client details and their bills.
2. Create Invoices Faster
Now that you have all client details in place, you would think that creating invoices would be easy. So, why invest in cloud invoicing software?
Well, old invoicing procedures require feeding the same details again and again. Moreover, you will need to create a new document if you need to change a quote or estimate in an invoice.
However, an online invoicing software stores all details of your regularly used services in its library. Additionally, it lets you tag items for easy usage.
All data related to the time spent on projects is added to your invoices automatically. These include invoice numbers, client details, payment terms, and other details.
3. Simplified Payments
A common feature offered by online billing software for enterprises is making it super easy for your clients to pay you. Most of the solutions in the market let you include a link in your invoice. This lets your clients make single-click payments and keep up with the payment cycles.
Moreover, cloud accounting systems also let you connect with multiple payment gateways and choose a solution that works best for you and your clients.
But, what about errors in calculations? Well, these solutions track and record all payment details. Thus, letting you focus on core tasks and not worry about tallying up totals. Moreover, this helps you make a long-term impression on your clients and boost your brand image.
4. Enhanced Visibility
Cloud invoicing helps you get 360-degree visibility and streamline your finances. When there is a single point of focus, you can control your invoicing procedures, track time, and manage projects better.
Most online invoicing software let you transfer data easily and provide ease of access. Furthermore, you get to see all expense receipts and can easily import data from your bank accounts. Thus, helping you streamline your finances with no extra effort.
5. Automate Processes
Time is a scarce entity when you are running a business or work as a freelancer. Each second counts, and that’s why it is necessary to automate workflows. With cloud invoicing solutions, you need not worry about purchasing these solutions.
For example, if a client does not clear your invoice on time, you can set late payment reminders on selected dates. Moreover, you can also set up a recurring bill generation system and send invoices on the same day every month or week. From reminders to faster invoice conversions, there are several ways cloud invoicing can expedite your processes.
6. Smarter Time Tracking
Time tracking becomes essential when you work with clients. This is because some clients pay on a per-hour basis. Moreover, it lets you analyze time spent on your marketing strategies and billable tasks to streamline your workflows and earn more money.
Some solutions come with an integrated time tracking system and transfer the recorded time data into invoices.
7. Simplify Reporting and Taxes
Reporting and taxation can be a tough task if you rely on traditional accounting and invoicing processes. Any mistake can lead to unnecessary complications. However, online invoicing software can generate real-time reports and handle most of the tax calculations for you.
Cloud invoicing solutions are no less than a boon for small business owners. From faster invoicing to tax calculations and app integrations to quicker payments, online invoicing software does it all!
Moreover, such solutions provide automatic updates and upgrades and prevent any disturbances in client work. You can always choose to add/ remove features as per your requirements.
Are you still looking for the best cloud-based invoicing software? Let us help you find it! Contact us by email at firstname.lastname@example.org or call at +1-805-491-9393 to get a free demo and the best deals at affordable prices.