The Advantage of Using an Invoice Template for Your Business

Today’s marketplace has become increasingly competitive which is why it is prime to not only attract customers but also retain them. Businesses of all sizes need to look out for ways in which money and time can be saved which increases productivity and convenience. There are several advantages of using an invoice template to scale billing models. While scaling a business might sound impossible, it is one of the first places, to begin with when it comes to billing.

Paper-based invoices and Excel generated invoices aren’t always efficient as a considerable amount of time is invested in generating them. The following are the advantages of invoice template download:

1. Payments are made faster

Manual invoice creation is a fairly lengthy process as it involves hours together to gather sufficient data, send the invoice out, wait for 30 days or longer to receive checks, deposit funds in your bank account and then record the invoices paid. This slow payment cycle compounds the issue of slow-paying customers. This, in turn, impacts cash flow which could limit the possibility of making future business investments. Collecting payments on time is not only faster but beneficial to everyone involved.

With an online invoice template, you can make use of a billing or accounting system to automatically generate invoices for you.

2. Reduces errors and disputes

Paper processing involves some steps, each of which is prone to human errors. These errors delay the payment process which can also damage the relationship that you have with your client. Invoicing errors and disputes can cost you thousands of dollars to correct resulting in many sends and resends. Online invoicing calculates the total amount for you to prevent errors. It adds taxes and ensures that the right client is billed. Even if there is a mistake, it only takes a minute to fix and resend.

3. It’s more convenient for customers

Some customers prefer to pay with a business credit card or a corporate card to earn rewards or because it helps to better manage the organization’s spending. In some cases, invoice recipients find it easier to pay with a corporate card as they are not authorized to write a cheque on behalf of the company. Small business owners whose own personal funds are sometimes closely intertwined with that of the business, might prefer to use credit cards for payment.

4. Establishes brand identity

A cloud-based invoicing solution helps to reinforce the identity of a brand. The invoice can be customized to include the logo of the company, a suitable color scheme, and fonts that match the brand’s voice. The chances of getting paid on time increases when the brand identity is strengthened.

Making use of an invoice template download mitigates several issues caused by manual invoice generation. Let online invoices from BILLIVING be your go-to solution for all your invoicing needs!

 

 

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