More than two-thirds of SMB owners are personally responsible for three and more major areas of their businesses (finance, sales, operations, HR, customer service, IT, product development, and marketing).
It usually means that the team is carrying a heavy load of responsibilities and paperwork. By taking advantage of billing software, it’s possible to reduce administrative tasks while streamlining operations and facilitating growth.
If your company isn’t using billing software just yet, you may be contemplating its benefits. Let’s look at the pros and cons of implementing such a program.
Benefits of Using Billing Software for Small Businesses
Here are a few key advantages of using billing apps.
1. Saving Time
Many small businesses follow the traditional invoicing procedure. They create separate invoices at the end of the billing period, print them out, and send them to clients. Filling out billing information, printing, and mailing takes time. These tasks are manual, repetitive, and time-consuming.
With billing software, you can create invoices online and send them via email. You only have to enter billing details once. The program will fill out the necessary information every week or month.
Additionally, such software can track invoice payments. If the client fails to pay on time, the program sends a reminder. This way none of the payments can fall through the cracks.
2. Cutting Costs
If you are still using paper and envelopes, you are spending hundreds of extra dollars per year. By moving your invoicing process online, you can save money for your small business while saving the planet.
With 27% of waste generated annually coming from paper, by cutting down paper use, businesses can reduce numbers dramatically.
Additionally, you can free up some of your employees so they can deal with tasks they do best, thus improving your operation timelines and saving money as a result.
3. Remote Access
The ability to check billing information, make changes, and review payments remotely allow your company not to experience any downtime.
In case something needs your attention immediately, you don’t need to wait to return to the office to deal with the issue. Top-notch billing software can be accessed from any mobile device, providing you have an internet connection and login information.
You can deal with billing while on a business trip or on vacation.
The billing software allows you to strengthen brand awareness by putting your company name, logo, and colors on invoices. Your clients are more likely to make a payment when they recognize whom the invoice comes from.
Overall, billing software like the enterprise billing system, Kansys, doesn’t just improve your company’s operation it helps establish better relationships with your clients. For example, some user experience features include:
- Friendly reminders – you can adjust reminders to your liking depending on your relationship with the client
- Multi-language optimization for international clients – instead of translating invoices on your own or sending bills in English, you can adjust invoices to your client’s language.
- Multiple currencies – you can send invoices in the client’s currency.
5. Important Data
Using billing software is an excellent way to keep customer data centralized. This can help with your analytics effort. By knowing when and how your bills are paid, you can get insight into your company’s operation.
Some billing programs come with analytics features. You can use the information for further analysis of your budget planning. Advanced billing software can also help with expense management.
When you use sensitive information to create invoices without proper security, you are putting your clients at risk.
By taking advantage of top-notch billing software, you are ensuring the security of the information you work with. These programs are designed to provide additional protection.
Disadvantages of Using Billing Software for Small Businesses
While using billing software comes with many benefits, there are a couple of disadvantages.
1. Offline Customers
In some cases, your customers may be offline. Then they can’t have access to the invoices you send them. Meanwhile, if you don’t have an internet connection, you can’t adjust billing documents.
Most likely, you’ll only have one or two clients who can’t check their inboxes regularly. You could adjust to their needs by sending them printed-out copies.
2. Spam Filters
Your emails may be ending up in the spam folder. Some email service providers recognize invoices as spam, especially if they appear as attachments. This may mean that the client never sees your messages.
The prices of billing software vary depending on the provider and the number of features you need. Sometimes, it’s tough to find a well-priced option perfectly suited for your company.
Billing software can be highly advantageous for your small business. It helps cut costs, reduces administrative work, increases employee satisfaction, and much more. If you aren’t sure you need this type of assistant, check one out. Many software providers offer free trial versions.