Why Does Your Trade Business Need Invoicing Software?

You might be wondering…does my trade business need an invoicing application? Invoicing software can improve cash flow and display professionalism. But what are the other benefits of invoicing software and apps? What should you look for in an invoicing solution for your trade business? Here we explain what it is and its benefits:

What is invoicing software?

Invoicing software allows for the easy exchange of data between a buyer and supplier. Invoices and payments are generated and tracked through the software and are emailed to the recipient. Invoicing software also allows for the tracking of finances, sales, and outstanding invoices. With this, it is easy to see how your business is performing, and if there are any areas that could use some improvement.

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7 Benefits of using invoicing software

Here we briefly explain 7 benefits of invoicing software:

1. Create professional invoices in a few seconds

Invoicing software is a valuable tool for trade businesses, not only because it allows you to create invoices quickly and get paid faster but also because it can track costs and drastically reduce the chance of human error, duplication, and oversight. As a supplier, it can be a key relationship builder for your business. 

2. Fewer errors and disputes

Invoicing software also enables you to identify and resolve errors before they occur, thereby improving customer service. It can also reduce human errors, which can add a significant amount of time and effort to the payment process.

3. Better reporting

Paper-based invoicing involves many steps, which is time-consuming and costly. In contrast, billing and invoicing software eliminates these steps and enables your trade business to manage its finances better, build a cash reserve, see real time numbers and respond to new strategic opportunities. 

4. Get paid faster

Invoice software is great for cash flow improvements. As a business owner, you no longer have to spend valuable time chasing unpaid invoices. Instead, you can focus on pursuing sales opportunities as you will create invoices in a few seconds, send them out earlier and be paid on time. 

5. Environmentally friendly

Now more than ever it’s important to take care of our planet. Instead of printing hundreds of invoices and reports, using invoice software give you the ability to keep all your records digitally.

6. 24/7 access

Are you about to have dinner and don’t remember if you sent the invoice to your client? Don’t worry! If you use invoicing software you can take your phone and quickly check the status of that invoice that just came to your mind. As everything is on the cloud, you can access client information and billing from anywhere. 

7. Improves your brand

Using invoicing software will make your business look even more professional and increase the level of customer confidence.

Wrapping up

Invoicing software has many benefits for your trade business, but you must choose the best solution for your needs. Some of them are:

  • Saves you time as can create invoices very fast
  • You don’t need to update spreadsheets 
  • It’s more efficient
  • Makes you look professional because you can customise your templates with your logo, company’s information and send them straight away to your customers
  • Enables easy auditing
  • 24/7 access
  • Helps the planet!

There are various kinds of e-invoicing software available. Some are hosted e-invoice networks, while others are Software-as-a-Service models. Have you tried Powered Now? You can book a free demo with one of our expert team members today!

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