Choosing the best billing software is the most prudent investment a business can make to get timely payments. Itis is also crucial to continue operations and pay employees and vendors. Having automatic billing software is mission-critical due to the inefficient and time-consuming nature of sending a physical invoice.
A small business, however well-financed, can never outrun the effects of a faulty billing system. Given that clients routinely find excuses to delay the payment —60 percent of all invoices are paid late —acquiring a proper billing software becomes all the more necessary.
However, as the market is flooded with thousands of options, picking the ideal one can be a challenging task. So, let us learn how to pick the best billing software for small businesses.
The best legal billing software is the one that is easy to use
Producing an accurate invoice during the first attempt is crucial, or you end up upsetting the client and/or wasting a lot of time. This can be achieved with a user-friendly and intuitive invoicing solution like the one offered by Cloud Books. Also, the billing software must allow you to access all the necessary details, such as cash flow, bank accounts, open/closed invoices, and recent user activity, in one place.
It would also make a lot of sense if the billing solution can easily onboard all your present data.
The presence of predefined templates is an advantage
The appearance of the invoice is key to the growth of your business. It determines whether you stand out as a brand and whether your bill will be noticed by the client. Predefined templates also save you a ton of time, as you do not have to create invoices from scratch.
Industry-specific billing software
Different industries have different billing needs, and the company’s niche should be an important consideration while choosing invoicing software. For instance, a small warehouse that relies on payments from multiple clients may have different needs than a contractor with a single client who is billed every month.
Your invoicing product has not just your data but also the client’s confidential information, which makes it your responsibility to use secure billing software. Hence, it is preferable to use an invoicing solution that can work even without the internet. However, the business owner needs to ensure there is an automatic backup option.
Proper customer support and service
Due to the sensitive nature of the information handled by the billing software, it makes sense for the business owner to purchase one that offers rapid and easy to access customer support via call/ chat/ email for issue resolution.
Further, ensure that the replies from the customer support team are prompt and that they are free of charge. You are also entitled to proper notifications of any alterations to service & maintenance, updates & up-gradation, annual, and subscription charges.
Support for multiple currencies
Ensuring that this feature is present is important, as you might have to deal with clients from locations other than your own.
Ability to do your taxes
Besides ensuring that you get the best value for your money, purchase an invoicing solution that calculates your taxes and provides insightful reports on the same.
Also Read: Billing Software for Small Business
Getting the most value-adding billing software online should be a priority for every small business, even though it might come across as a trivial matter that requires little or no consideration. Acquiring the best online billing software that fits your budget will drive business growth, and at the same time, provide you with the peace of mind that comes from not having to deal with faulty or delayed payments.