The current scenario of e-invoicing market is flooding with so many e-invoicing providers, which gives today’s businesses with many options to choose from a variety of these online invoicing service providers. What is more imperative is to evaluate criteria based on which you can take a decision to choose a new provider.
If you agree with all the following points that we have listed below in this blog post, then it is time for your business to replace existing invoice software with such a robust, simple and multifarious invoice generator platform.
1) Business standing & expertise
You’ll need to first check the competitive stature of the invoice maker company in the respective industry. You can base your overall impression by looking at how they present & promote themselves in terms of industry expert, integrate their IT-business-compliance knowledge and their involvement in the market.
2) Network size
Network size of the invoicing platform can be considered based on many factors such as their lasting relations with the clients, assurance via case studies and references, etc. Moreover, check to see their global presence within the community and interoperability policy. Additionally, the company’s success stories and their global coverage also adds value to the network size.
3) Company reliability
It is vital for you to select an invoicing solution provider based on their product investment and how long they have been existed in the market and give importance to their invoicing platform? There is no point in investing in an online invoicing app if their product is not built for long-term sustenance. Look into the company’s financial records to draw your conclusion.
4) Invoicing features & functionalities
Since you are going to invest in a new invoicing solution, it is essential to check that the new product not only provides more benefits than the current invoicing software but also can adapt to your growing business need. Check whether the invoicing solution supports multiple platforms and can blend with easily with your business process flow? The bottom line is that the new invoicing service should get you cutting-edge features that will add value to your business.
Your new e-invoicing solution should adhere to the compliance and other statutory guidelines to make sure that the transmitted document’s data is sent in the utmost safe and secure environment.
6) Support & Maintenance
This is one of the key factors to check with your new online invoicing application that whether they provide you with maintenance and support. Make sure to have dedicated team support with a proper understanding of the product so as to help you in setup or with any updates or issues.
7) International Service
As the businesses have gone global and catering to their clients and customers from around the world, it becomes cardinal for you to check up on international certifications. Also, check up on the features and functionalities that support the international business’s financial and managerial operations.
8) Meeting SLA
Does the new e-invoicing service provider provide supports outside of business hours? Do they take care of system updates, maintenance, etc? You’ll need to check all these information in details before opting for their services.
9) Contract Terms
A good and professional contract should cover all the necessary terms and conditions of SLA requirements. It should specify in detail about the support & maintenance, financial fee structure, cancellation policy, etc.
Pricing is a crucial factor and improper documentation can lead to discontinuing of the services. Hence, it is of critical importance to draft all the pricing structure, billing procedure & payment details are mentioned up to the mark.
Moon Invoice, a simple and easy online invoicing platform can streamline your entire expense management process with its ‘Payment Simplified’ feature. The feature can help you optimize, organize and can help you to take necessary action to get you to up to speed in terms of payments.
Few of the ‘Payments’ features at a glance are- Bill In Any Currency, Multiple Payment Methods, Taxes & Discounts and many more…
Shifting your e-invoicing platform is not a small matter and the above-discussed criteria will help you in narrowing down to the one that suits best to your business need. The invoicing market is changing very fast and in such times, it is necessary for you to select a service that does not only fulfills your current business need but also can adapt to changes and upscale over time.