If you’ve ever felt like it’s a full-time job to chase down customers and cheques, you’re not alone.
In fact, more than one in four small and medium-sized businesses have a hard time creating and sending invoices. It’s tedious and time-consuming to manually create invoices, follow-up on payments, and make sure that you actually end up with the money in your account once the work is completed.
Sound familiar? If you love your job but hate the pain of accepting payments (ahem...endless and awkward follow-up with your customers), online invoicing might be for you.
Our online invoicing payment solution, Converge, has some features that make processing payments quick, simple, and painless.
How does online invoicing save my business time?
If you’re a small business, you’re probably used to stitching together makeshift solutions. This might have been easier in the early stages of your business, but as your services and clients have grown, so has the work of invoicing and collecting payments. Manually preparing estimates and invoices, mailing them out, waiting for payments, and business banking can take hours of your time every week.
Here’s a few ways online invoicing software can help you save time:
- Quickly customize your invoice template by uploading your logo and choosing your font and colour theme
- Input work details and charges, then enter your client’s email address to send out invoices in seconds
- Easily create estimates that automatically convert into invoices when your customers accept them
- Customers can pay their invoices from any device by clicking the payment prompt and entering their credit card details
- More online invoices mean less time standing in line at the bank to deposit cheques
- Automatic payment reminder emails eliminate the need for tedious telephone follow-up
- Recurring bills with automatic and customizable payment cycles streamline your billing
- Easily view overdue, pending, and paid invoices instead of flipping through Excel sheets or work calendars
- Xero accounting integrations save you time on preparing your business taxes
How does online invoicing save my business money?
Like many business and technology tools, the true value comes from the major time savings. Using a tool, like our online invoicing and payment solution, eliminates hours of stress and work for your business, and it helps you operate more efficiently. This means you’ll have more time to focus on growing your business and providing your customers with the best possible experience.
Another big perk of online invoicing is that it will help you get your money faster. On average, businesses using manual invoicing take 14-34 days to get paid. After switching to Converge online invoicing and email invoices, the average time to get paid dropped to 1-2 days. Not bad, right?
Aside from the time savings and faster payments, accepting credit cards instead of cheques eliminates the pain of dealing with NSF cheques. Not only is it awkward to inform your customer that their cheque bounced, but if you don’t have a NSF policy in place, the bank service fee and NSF charges will eat into your profit.
Who does online invoicing work best for?
Online invoicing is the perfect payment solution for service-based businesses. It’s particularly helpful for businesses that are scaling up and need a more streamlined way to invoice and accept payments.
Here’s a few businesses that would benefit from a simple online invoicing solution:
- Law firms
- Accountants
- Photographers
- Marketing or graphic design services
- Interior decorators
- Caterers
- Landscapers
- Repair or maintenance businesses (ie: plumbers, roofers, painters, pest control, electricians)
- Construction companies, demolition contractor, excavation contractor
- Concrete forming company
- Industrial or manufacturing businesses
- Cleaning services
How does online invoicing work?
It’s simple. All you have to do is log into your account, enter the payment and work details, then send it to your customer’s email address. Your customer can manage the rest, and you’ll get a notification when the payment’s been made.
Ready to streamline your invoicing? Learn more about our online invoicing solution:
