Paper vs Online Receipts: Important Reasons to Use Invoice Generating Software
Have you ever thought about how much paper you waste as an individual? Be it your office or business, on average, billions of tons of paper are wasted worldwide every year.
Paper is a scarce resource, and to make its optimum utilization, businesses are now taking accountability by adopting paperless procedures. And one way that can encourage business involvement in this task is paperless invoicing!
So, let’s consider using online invoice-generating software!
An online invoice-generating tool is awesome, but still, a large number of businesses feel reluctant to use it. However, it can save paper wastage and give you an edge related to business cost-cutting over the competitors.
Hence, in this post, we have busted out some important reasons why you must ditch paper invoices and show why using an online invoice generating tool can be the best bet for your business!
12 Important Reasons to Ditch Paper Invoices
Below are the 12 essential reasons why you need to learn to ditch paper invoices and avoid unnecessary paper wastage. By creating online invoices you can avoid paper invoices.
- Create and Send Invoices Fast
- Reduce Shipping and Office Expenses
- Receive Timely Payments
- Get Easy Access to Financial Reports
- Send Invoices At Any time and from Anywhere
- Integrate Numerous Payment Forms
- Keep a Track of Your Employee Expenses
- Give a Professional Look to Your Small Business
- Streamline Your Payment Process
- Conveniently Manage Your Line of Businesses
- Go Green
- Boost Security
The process of creating paperless invoicing is smooth and fast. You never have to make searches or enter contact details, your company’s logo, and other business details. It is because you have to feed everything only for once and then the information is kept stored in the data.
You have to make changes for once and save them, which eliminates repeating the same multiple steps again and again. As a result, it enables easy and fast creation as well as sending of the invoices.
Mailing paper-based bills every month involves high cost of office supplies. In addition to paper, it even involves the cost of envelopes, stamps, ink, and paper.
An email invoice involves no such cost. Hence, they are comparatively cheaper than paper-based bills and invoices. So, stop using them in order to reduce shipping and office expenses.
When invoices are sent in a paper format, you have to rest back and wait for your client or the person on the other end to make payments. It may take several days for the client to receive your invoice and as a result, the payment is delayed. Additionally, there can be instances when your client may not receive the invoice or may say so, which can result in more confusion. This way, the payment process takes more time.
With electronic invoices, you can easily submit your invoice to customers within minutes. The best part is that you can set automated payment reminders for an electronic invoice so that invoices are sent at regular intervals. This way, your payments are paid faster and let you cover the overhead expenses as well as business expenditures.
By using an invoicing platform for the billing, it is easier for you to keep track of all your finances. Within the dashboard, you can even view how much you have earned in the past. The stored information lets you compare your monthly incomes and let you know how your business is doing.
The invoicing platforms also enable you to see the invoices that are paid and that are pending. Everything is easily accessible and available at your fingertips through the way of an interconnected device.
Invoicing platforms lets you create and send invoices from your mobile devices or desktop. No matter where you are in the world, you can easily handle billing your clients with ease. All you require is a device with a secured internet connection.
Moreover, if you own a team, you can see and track the invoices you send and create. It will also let you combat various hassles of your business.
Paper-based billing offers you limited payment forms. You either have to opt for a money order or request a check. Alternatively, you have to call the client in order to collect their details for processing the payment. This entire process is inconvenient and can sometimes result in holding off the invoices.
Online invoicing platforms offer electronic bills that make the process simple. They reduce the interaction required between your client and business to pay an invoice. You can send an invoice in an email and with a payment link for the same.
PayPal, WePay, Mollie, and Stripe are some of the finest payment options that you can integrate into your electronic invoice.
If you are an industry that needs your employees or co-workers to travel a lot, then it is essential to keep a close track of expenses made by them. It is because such details are needed to calculate and deduct them off the tax returns. Also, it lets you know how much you are spending and how you can reduce the costs.
With a reliable invoicing platform, you can easily track the expenses, time, and mileage of your employee. Whenever there is a need, you can ask your employees to cut the expenses by staying at budget hotels or using budgeted modes of transport, and more.
If you are starting a new business then you can make a lasting impression on your customers with a professional process and appearance. For small businesses or start-ups, it is quite difficult to collect payments, which are needed for sustainable growth.
With the way of electronic invoicing, you can help your clients easily know about your e-billing process. Moreover, you can include a logo in the invoice that will help to build a professional image of your company. This might even help you to retain customers.
Not only small companies, but even big companies can get benefitted with the electronic invoicing method. Most of the times, big companies practice complicated payment process. It needs customers to call or pay the bills.
An e-invoicing process let such corporations build a more streamlined and smooth payment process with their clients. They just have to send a professional invoice through their laptop, tablet, or smartphone and receive payments without waiting for too long.
If you own more than one line of business then it must be quite difficult to handle them all efficiently. The trickiest part is to handle the finances.
However, e-billing platform lets you store the financial reports right in the dashboard. You can open numerous accounts, solely dedicated to each business. This way, you can manage the financial aspects of your business easily without resulting in any confusion.
Eliminating paper-based bills or carbon papers is a great way to save the environment. With electronic bills, you can completely eliminate paper waste resulting from envelopes and invoices. You can take a step further to help the environment by doing business with vendors who too use e-bills or e-receipts.
This simple step can help you keep your environment clean!
Attacks and thefts are increasing and anyone can steal your important details from a paper-based bill. This makes it difficult to maintain your paper bills security. In a worse scenario, it can result in loss or stolen of your money orders or checks.
Such troubles can be overcome easily with e-invoices. Online bills can safeguard the invoicing process from start to end. You can send an invoice securely through email and get payments processed in your account.
8 Reasons to Use an Online Invoice Generating Software or Tool
If you want to avail all the benefits mentioned above, you must find a reliable electronic billing platform right now. As you start your search, consider a platform that incorporates numerous rich features, invoice templates, payment reminders, and online payment options.
Here we will be showing you 8 reasons why you should be using an Online Invoice Generating Software or Tool.
- Get Rid of All Tedious Paperwork
- Freedom from Administrative Errors
- Online Invoicing Helps Saving Money
- Send or Share Invoices Fast
- Get Better Insights about Your Invoice
- Get Paid Much Faster
- Manage Invoices from Everywhere
- Add an Extra Layer of Security to Your Business
Every company dreams of having a paperless office. It is because paperwork is extremely tedious as it involves maintaining files, storing them, archiving them, and indexing them. Even a lot of office space is required to get the work done.
If you are a small company or a startup, you would not want to bear hefty office expenses. No need to take so much trouble as online invoicing software can help eliminate the time, cost, and need involved.
The best part is that you never have to get it printed, archived, or indexed. For such reasons, online invoicing is an ideal way to own a paperless office.
An invoice has many details, and when entering them manually, even the most efficient person can make mistakes. In some stances, you may even forget to follow up whether the invoice is paid or not.
Online invoice-generating software is an easy alternative to this problem as you don’t have to put much detail manually. In addition, it is an automated process where you can easily manage the creation and processing of the invoice.
You have to fill in the details, and an error-free invoice will be ready to serve you.
If you hire a bookkeeper to handle all your invoices, you are investing lots of time. The time spent can be drastically reduced by electronically managing invoices.
It is because online invoicing does not involve managing complex cash flow management and accounts reconciliation. Instead, this software lets you keep track of your company’s cash flow by sending invoices directly to your clients from the software on a monthly, weekly, quarterly, or yearly basis.
The quicker you send the invoices, the earlier you will be paid. Online invoicing software ensures that you schedule invoices so they can be sent automatically at a specific time and date.
Additionally, you will get the adequate speed you desire.
To maintain a successful business, it is essential to keep close tracking of your invoices. With online invoicing software, you can carry out an automatic tracking process. This way, you can quickly check your payment status and find out how many invoices have been paid and what all are pending.
Moreover, you can also set reminders for each invoice and client and monitor your audit trail.
One of the primary aims of online invoicing is to eliminate the time involved in sending an invoice and receiving the payment. When you send invoices on time and maintain a steady process, you can expect payments faster. It is because even your client will understand the payment process to follow.
If you store invoices on a computer, you get limited access to their invoices. However, online invoice software allows convenient access to information from anywhere and on all devices. It is because the invoices you create are stored on a single platform. Hence, you can access the invoice from anywhere and from any device. All you have to do is log into the account and enter the invoice details.
Also, it lets you manage client details and billing from one application. So, even when you are away from the office, you can still manage invoices easily.
If your computer crashes or files get destroyed, you will never be able to restore them.
But if you use online invoice generating software, you can work peacefully. It is because it automatically creates a backup for all your invoices. In addition, it protects your files from all the losses and interference.
Whether you are a brick or mortar business, an established online venture, an individual entrepreneur, a freelancer, or any other professional, online invoicing software gives you numerous benefits. So, consider the above reasons and integrate robust and reliable online invoicing software into your business.
Give Receiptmakerly a try, as it is one of the finest online invoicing platforms hosting numerous rich features and great functionality. It will help you cut the costs on paper and get all the desired features an online invoice generating software is supposed to offer.