If you’re a business owner, you probably already understand the value of efficient invoicing. Creating accurate invoices and sending them to clients in the least possible time can skyrocket your chances of getting paid on time.
An article from Due showed that a lack of clarity in invoices is a major cause of delayed invoice payments. To overcome this hurdle, you can seek digital solutions, like free professional invoice templates or online invoicing software for enterprises.
But which one is better, and why? Let’s find out.
What is an Invoicing Template?
A professional invoice template is an editable layout that includes the format and stock information of an invoice. This makes it easy for businesses to create an invoice as all they need to do is add information to the necessary fields.
Retailers that rely on manual invoicing use an invoice register that consists of pages with a printed invoice template. Those who create invoices online use templates in the form of a Microsoft Word or Excel file.
What is Invoicing Software?
Online invoicing software for enterprises is a computer program that enables businesses to generate invoices for their clients and customers. Business owners can generate a professional-looking invoice for the rendered products or services within seconds.
An invoicing solution eliminates the need for manually entering data in an invoice. The user can simply enter raw data in the system and get a ready-to-send invoice within seconds. A recurring payment system includes predefined templates, along with other features like records creation, report generation, and currency setting.
Why Use An Invoice Template?
The benefits of using free professional invoice templates are apparent. They help you save time and effort. In the absence of a template, you’d need to spend time writing all the stock information first and then fill it with the essential details like quantity, amount, etc. As a result, you’ll spend double the time you would’ve spent if you were using a template.
Another significant advantage of templates is that you can send multiple invoices at once. Since these templates are easy to edit, you can create a myriad of invoices in a few minutes.
Online templates are easily customizable. If you want to add a new field or change the color setting, you can easily do it. So, even if your business undergoes changes, you can easily reflect them on your invoice if you use an invoice template.
The Benefits of Invoice Software
Using free professional invoice templates might seem like an excellent option. And it is, but only if you’re in the primordial stage of your business. If billing a handful of customers or clients is all you need to do, you’ll do just fine with invoice templates.
But, things get serious when you grow. Your clientele expands, and so does the number of invoices you’ll need to create every month. And that’s not all! Delayed payments, tax reports, financial decisions – there’s a lot to watch out for.
Here’s where invoice generator software for Windows PC comes to your rescue. Let’s take a look at how invoice software can add value to your business.
1. Designed to Get You Paid
The purpose of an invoicing system isn’t confined to creating invoices. It is aimed to get your clients and customers to pay you faster. Unlike Word or Excel templates that tell your clients what to pay, an invoicing system gives them the convenience of paying in real-time. It supports multiple payment methods like online banking, cards, and wallets.
When creating invoices with software, you can include a “Pay Now” button and link it to multiple payment methods. This gives your client a clear call to action – Pay this invoice now.
2. Automation Capabilities
Modern-day online invoicing software for enterprises comes with cutting-edge automation features to make your invoicing operations faster and efficient. A report from EXIM stated that 60% of invoices are paid late.
So, a large number of business owners have to chase their clients and customers for money. That’s not how your dream business looked like, right?
With an invoicing system, you can automate your invoicing process. This option is especially helpful for providers who offer products or services to regular customers on a monthly basis.
You can create a recurring invoice schedule that will be sent automatically to your customers. Since these invoices will have an online payment option, your clients would be able to pay you instantly.
3. Powerful Tools and Features
As mentioned, invoicing systems aren’t just about creating invoices. Solutions like Moon Invoice enable you to store information about customers, products, prices, and taxes. These tools also offer in-depth reports that help you identify your highest-paying consumers and best-performing products.
These systems also save customer payment data, such as credit card information. Therefore, your customers won’t need to enter their payment information again and again. If you’re worried about data security, these systems are powered by compliance policies like PCI to ensure maximum safety and privacy.
Besides, you can also add early payment incentives and delayed payment penalties to encourage your customers to pay on time.
4. Mobile Access
Recurring payment systems come with cloud-access, making them accessible from multiple devices. You can, therefore, operate your invoicing software from your mobile phone and process transactions from anywhere and anytime. This helps you collect payments on-the-go.
Invoice software solutions allow you to customize invoices in a few simple clicks. You may not realize, but design plays a crucial role in increasing your chances of getting paid on time.
With an invoicing system, you can customize your invoice to make it look more professional and easy-to-follow. Whether you want to change the logo or update the design, invoice generator software for Windows PC allows you to do it with ease.
The Final Verdict
Invoice templates can be a great upgrade if you’re still using paper-based registers. But if you want to really get paid fast, you’ll need to look beyond templates.
Invoicing software provides you with additional capabilities that enable you to enhance the efficiency of your financial operations.
Therefore, if you’re a growing business, always opt for a billing and invoicing system like Moon Invoice.