Many developed and developing economies have realized the benefits and impact of adopting e-invoicing & billing system into their accounting process. While some nations have adopted or are in the process whereas others are thinking to implement and analyzing keeping the decision pending. For e.g, talking about India – GST council is examining the legal and technical aspects of e-invoice whereas Australia’s 730,000 small business owners are relieved with the ATO legislation to implement Single Touch Payroll (STP) effective from 1st July. Some of us fancy change and others don’t but between this indifference, one cannot neglect the fact that objectively changing the current manual system to an online invoicing app can add definite value to process workflow as well as boost productivity within an organization.
These business entrepreneurs seem to be equally excited and stressed at the same time about the potential of technology and how to implement and integrate it with their existing system in place. Bifurcation of their concerns about the adoption of digital tools in their business can be classified into categories of lack of understanding, resourcing, time and trust. A staggering 65% of business owners said they’d support and welcome any changes that will help to work efficiently with a further 40% agreeing to the need of bringing in digital tools to streamline the billing and invoicing process.
Although a lot of companies have started to realize the potential of the online invoicing application, there’s often a disconnect between what’s provided and what customers actually need to initiate and be done with their monthly review and payment process. Many have welcomed and adapted to this transition of the flexible digital model but couldn’t fight for those who have made their mind redundant with the age-old notion that they are “used to”.
Power of innovation drives the technology in every front. Accelerating your workflow through automation can pave the way to free up your time so that you can focus on other important areas of business. Automating your backend billing tasks not only helps your clients feel a smoother drive of the tool but also enhances the onboarding experience. One can start by documenting their process flow or can do a visual workflow to see exactly what steps are included in your billing process and who is assigned a specific job role for the same. This step is recommended because updating your process is of utmost importance before you update the tools. You’ll also need to re-calculate the time it takes to finish a step. Since there is no one-size-fits-all solution as every firm is different and has its own purpose and need.
If you are unsure of how to check and reach to a conclusion in deciding which kind of invoice generator is best for your company then it is in the good interest of business to opt for the best small business billing app such as Moon Invoice.
Moon Invoice, a simple and easy online invoicing platform can streamline your entire expense management process with its ‘Expense Tracking’ feature. The feature can help you optimize, organize and can help you to take necessary action if your monthly/yearly expenses are heavily accountable.
Additionally, 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”.