For practically any type business, invoicing is routine. The advantages of consistent, affordable invoicing practices can make the difference between returning a profit and just breaking even. And the best thing is, these advantages go both ways - for your customers and for you.
FOR THE CUSTOMER
When you provide your customers a whole range of payment methods, especially online, you give them the flexibility to pay in the manner most convenient to them, whether through cash, check or charge.
Easy Financial Monitoring
A lot of consumers pay all their bills online in one go for two reasons: convenience and ensuring that bills are paid on-time. By sending electronic invoices, you don’t only eliminate the need for them to mail the check; your customers can also easily keep a tab on their finances.
Your customers can avoid late payments and fees more easily when alerts are forwarded on or when it’s close to a payment’s due date of a payment. If you can add a “Pay Now” link, your billing process will become even more efficient.
FOR YOUR BUSINESS:
Faster and More Secure Invoicing
No need to wait around for invoices be distributed through mail, hope for checks, or or deal with long queues at the bank to deposit checks daily. You can safely and directly deliver electronic invoices to your customer’s email in one click.
More Efficient Invoice Processing
In a nutshell, electronic invoicing lets you send several invoices at once, at a fraction of the time you would need to create and send one paper invoice.
The costs of postage and envelopes add up, no matter how seemingly cheap. When you can do it for free and still get the same - in fact, much better - results, why not? Cost reduction may well be one of the most significant benefits of electronic invoicing.
Electronic invoicing leaves a handy dandy digital trail that is much easier for you and your customers to reference compared to the old-fashioned paper trail. That also means no filing and thus less clutter in the workplace.
With an increasing number of customers looking for online payment solutions, electronic invoicing and billing will surely be a great addition to your customer-oriented business practices.
So if you’re planning to move your business over to a vendor invoice management system, you can be assured that the advantages mentioned above, both for you and your customers, will offer huge return on investment. See more here on this site: https://www.youtube.com/watch?v=U7iP3kwEADY.