Inefficient billing practices raise operating costs and affect profitability. With a manual billing system, you spend too much time on each invoice and are likely to make calculation errors, taking away attention from your employees and customers. Consider this: per the findings of a Gartner study, a 5% decrease in operating costs can have the same impact as a 30% increase in sales. 

The inability to customise billing can also impact your profits. Your customers receive invoices at different frequencies and require different levels of service; there is no one-size-fits-all small business billing software. An inflexible billing system can result in late invoicing, leading to late payments (or no payments) and staunched cash flow.

Many companies rely on billing and accounting software to manage their invoices. Automated billing software comes with a wealth of benefits. What are they?  

You’ll delight your customers

Today’s digital-savvy customers want assurance that you will fulfil their orders and bill them quickly and accurately. With flexible small business billing software, you can generate recurring customer invoices, customise invoices for multiple customers, alert customers when they need to make a payment, and communicate instantly and easily about any issues that might arise in the midst of a transaction. The quality and personalisation of your services will establish you as a trusted supplier, and your customers will keep coming back.  

Your business will get paid faster

Keeping on top of accounts receivable is a time-intensive process that can delay services and impede cash flow. Automated billing software promptly sends out invoices and tracks them, so you won’t receive late payments or miss them altogether. Plus, with mobile payments expected to grow at a 23.2% compound annual growth rate up to and including 2020, you'll want an electronic billing system that keeps up to speed.  

You’ll maximise profit margins

Knowing when, by whom, and how often you're getting paid is crucial to maintaining a profitable business. With the right billing and accounting software, you can track revenue for each of your customers, calculate a minimum monthly profit goal, and design business strategies to meet that goal. And, with an automated solution, you can eliminate error-prone manual calculations that take up valuable resources. 

You’ll manage a more efficient, faster-growing business 

Full control over your billing system will benefit your entire business. Automating routine tasks such as error checking and monitoring customer credit limits will free up time and working capital to invest where it’s needed most. In short, you can spend less time worrying about day-to-day transactions and focus instead on growing your business.