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10 Reasons Why You Should Invest In Service Provider Invoicing Software

10 Reasons Why You Should Invest In Service Provider Invoicing Software
  • March 3, 2021
Top Benefits Of Using A Cloud Invoicing Software Solution

When it comes to running an enterprise invoicing system, there are two available options. The first one requires a massive investment in an on-premises system, while the second one is much more affordable since it runs solely from a cloud.

Cloud computing has changed the rules of the game forever, as it provides a few crucial benefits on-premises systems can’t even come close to. Most businesses are making a shift towards cloud applications and services because they offer valuable benefits designed to help you grow your business at a steady rate. Here’s a quick overview of the benefits you can expect to get.

As a Service Provider, recurring payments are at the core of your business. Let VatPay help you manage your subscriptions and/or recurring payments.

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Top Benefits Of Using A Cloud Invoicing Software Solution

To give you a better perspective on why you should let an invoice maker handle your invoices for you, here are eight fantastic benefits of using an invoice maker.

  • 1. Everything is on the Cloud
  • 2. No Installing & Maintenance Costs
  • 3. Service Provider Handles Updates and Security
  • 4. Easy to Use
  • 5. Use Automation for Efficiency
  • 6. Create Invoice Templates
  • 7. Easier Subscription Management
  • 8. Constant Access
  • 9. Valuable Analytics
  • 10. Everything is in One Place

1. Everything is on the Cloud

Classic bookkeeping is slow, complicated, and prone to human error. As your company grows, you will have to invest more money into hiring new staff to accommodate the needs of the growing number of customers. It allows seamless scalability as your business grows, without invoices piling up or slipping through the cracks.

On the other hand, Cloud-based invoicing software doesn’t require more employees or office space since everything is done online and through wireless technologies. You can simply increase the size of the system according to your needs, but the most significant benefit is that you can access data from anywhere in the world. Compared to traditional invoicing systems, Clouds provide you with more freedom at a much more affordable price.

2. No Installing & Maintenance Costs

Traditional invoice systems depend on hardware, so you also have to include installing and maintenance costs. Cloud providers take care of all operating costs that are covered with a simple subscription. Since everything runs directly on the internet, you will be able to save a lot of money in the long-run.

Clouds include all system management and maintenance costs, which are much lower than the costs needed to run a traditional invoice billing system. That way, you will have more funds to improve other areas while taking a load off your IT Project Management.

3. Service Provider Handles Updates and Security

Furthermore, all future updates and security features are also included with the subscription. With a traditional invoicing system, you have to cover the costs of all updates and additional security measures yourself. Moving everything to a cloud means giving up some control, but you get a safe and secure platform in return.

Most cloud service providers offer exceptional security features that keep all of your data safe and secure at all times. Not only that, the data is usually stored in multiple locations for even more security.

4. Easy to Use

Managing online billing and invoice payments creates a heavy workload that usually requires a team of people to get things done. On the other hand, cloud-based invoicing software allows business owners to assign billing tasks to employees much faster and easier. Instead of going from one department to another or sending emails to all team members, clouds allow you to assign specific roles to improve efficiency.

You simply have to assign specific roles to each team member and create a hierarchy that helps improve the entire process while taking the load off your staff. You will be able to share bills and invoices and pinpoint potential bottlenecks before they happen. Cloud invoicing software can also handle all of your finances from a single account, taking a load off your accounting experts.

5. Use Automation for Efficiency

Cloud-based technology includes advanced automation features that allow you to set up recurring invoices, and the automation will manage all online invoice payments and subscription billing for you. The only thing you have to do is to send the SaaS invoices directly to clients. The software will give you notifications on all due payments on time, and it will generate the invoices automatically. You can even use an Invoice Maker to fully customize each invoice for every specific client.

6. Create Invoice Templates

Another significant benefit of using cloud invoicing software is the ability to create an Invoice Template. Compared to custom invoices, templates can help you save a lot of time while making sure that you are paid on time. You can browse through an impressive collection of invoice templates and customize them however you want.

What is otherwise very tedious work can now be done in a few minutes. That is not only beneficial to your business but also the clients, as they get a consistent gain rate. In other words, your clients will get their bills and pay them on time.

7. Easier Subscription Management

Handling subscription management can be very time-consuming and complicated. Cloud solutions can improve the workflow, allowing you to access specific client information with a few clicks. With real-time reports and segmentation into multiple categories, cloud software will also help you address specific client’s needs as soon as you get a subscription.

The automation features will take care of all managed IT service billing, and invoice payments on time, without any errors. Both you and your clients will have a transparent platform that eliminates all potential issues before they even happen by providing an audit trail easy for everyone to follow.

8. Constant Access

With a cloud solution, you will be able to provide continuous customer service from anywhere in the world. Your clients will be more than happy to see that you’re always delivering the information on price estimations, cost reports, and so on. You will keep everyone in the loop without any exceptions.

Cloud invoicing provides you with complete accessibility, allowing you to access and review online invoice payments anytime from anywhere, using any device. You can also transfer these abilities to your staff, allowing them to quickly access the information they need without waiting for the paperwork to get done or spending hours talking on the phone.

9. Valuable Analytics

The real value of using a cloud to cover all of your bookkeeping needs can be found in the detailed reports it provides. You will have instant real-time access to the most critical metrics that will help you find weak spots in your operation and further improve the system.

The system will allow you to get the best time-tracking and expense-tracking abilities without a problem. Cloud invoice systems allow you to generate all kinds of reports to review your entire company’s performance. That includes details on specific clients, transaction types, cash flows, and so on. You can simply export the reports and review your company’s efficiency at any time.

10. Everything is in One Place

Cloud-based service provider invoicing software simply allows you to stay on top of your finances, online billing and accounting from a single platform. Automation features will always provide you with accurate, transparent results while taking human error out of the equation. As a result, your overall company productivity and flexibility will reach another level without putting your employees under a ton of stress.

But that’s not all. This type of software can also help you manage both online and offline transactions at all times. By incorporating multiple payment gateways, you will be able to increase online billing opportunities. That will result in a better purchasing experience for the customers without a negative impact on your cash flow due to late payments.

Final Note

Put simply, cloud-based invoicing solutions like VatPay are here to stay. They are the future of bookkeeping designed according to modern technologies and digitalization. As AI features play an essential role in streamlining accounting, billing, and invoicing needs, cloud accounting is quickly becoming the next big thing all over the world.

Companies now have an easy way of monitoring cash flows, sending out invoices, and making sure that they are paid on time.