Managing uncertainty: 5 tips to keep your small business moving
Winston Churchill once said, “Difficulties mastered are opportunities won.” Here are 5 tips to help your small business navigate this time of uncertainty.
Creating, sending, and processing invoices is an essential part of most businesses’ finances.
A properly designed invoice helps you get paid on time, provides legal protection for you and your client, and validates your company’s revenue. Using software to generate invoices online makes life easier and reduces the potential for costly human error.
Manually generated invoices can often include errors, lead to late payments and ultimately undermine your business’ chances of success. Consistent cash flow is necessary to cover basic overhead costs such as paying employees and purchasing supplies, so past due payments may create significant problems.
Yet, 30% of small businesses experience direct negative impact from late payments, with 10% written off as bad debt. This causes them to spend an average of 130 hours chasing late payments.
Invoice software enables businesses to manage billing and payments for products and services.
With online invoicing software, you can easily create, edit and send invoices from anywhere, at any time to customers and clients. Invoicing software can also remind customers and clients about upcoming payment deadlines.
Plus, business invoicing software makes payment tracking easy, so you always have real-time information about your finances and cash flow.
An automated billing system promptly sends and tracks invoices for your business and reduces the risk of late or missed payments.
Invoice software is important for businesses that value professionalism, reconciled accounts, and prompt payments.
Companies that don’t use invoice or online billing software will find it challenging to manage cash flow.
Manual billing systems are inefficient and lead to higher operating costs, impacting profitability and payment processing. They're also less efficient for clients and customers.
Whether you’re a law firm routinely invoicing clients or a small business that needs to create a one-off invoice for a distributor, software for creating invoices will save your business time and money.,
Tsue Chong Company
Winston Churchill once said, “Difficulties mastered are opportunities won.” Here are 5 tips to help your small business navigate this time of uncertainty.
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