Did you know that 18% of small businesses don’t have online billing software? Also, the ones who don’t have accounting and invoicing integrated.
This is because they are not sure about the right solution and are wary about the cost. To put an end to your worries, we have compiled a list of things you need to consider before purchasing an online billing software. Ready, let’s dive in!
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Analyze Your Needs
Make sure you are crystal clear on what you need from your solution. Do you need something to track time and send out invoices? Or, you need a billing solution that seamlessly integrates with a scheduling system.
Also, consider the people who will need to access this information. How do you plan to use this solution? Will you need access to reports? Answering these questions will help you pick the right solution.
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Keep Your Budget Needs in Demand
Before you think about purchasing invoicing software, make sure you check your budgets and take other costs into account. Cloud-based solutions have a monthly fee. Also, these tools offer a discount when you opt-in for yearly payment options. Furthermore, on-premise solutions will need you to shell out money in the starting. But, you will not need to pay till it is time to upgrade.
If you take our suggestion, don’t be afraid to shell out money on a resource you will need. Invest in a full suite of accounting and billing solutions, as they will help you save money and tax deductions.
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Does Your Solution Offer Customization Capabilities?
Your business is unique, and so should be your online billing software. So, make sure you ask your vendor if they can custom fit it as per your expectations. If you get a solution that can submit claims as well, it will lift a huge burden off your shoulders.
Needs can vary from contractors to small businesses. So, customization is a must for accounting and invoicing solutions.
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Compare Different Packages
Make sure you carefully analyze what each software package has to offer. Take a note of the information you will include on the invoices. Basic solutions will not let you use your logos. For using them, you will need to upgrade your solution.
Also, check if you would be able to use your invoice codes, add items in separate lines, and calculate totals with ease. Lastly, please check if your chosen online invoicing software for small businesses will notify clients if an invoice is past due. Besides, you will not need to spend time typing emails and following up with clients.
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Make a Note of The Integrations
Your office might have multiple systems—one for accounting, the other for payroll, and others for invoicing. Ideally, these systems can establish seamless communication with each other and you can check all progress on the dashboard.
So, choose a solution that eliminates system switching to access information. Make sure your check if these systems can be integrated with other systems to save on 100’s hours every month.
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Know What Competitors Use
Knowing what competitors can use can help you customize your online invoicing software for small businesses and easily meet all objectives. Make sure to consult your accountant friends and colleagues too for the same.
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Make Sure You Ask The Right Questions
Whenever you evaluate an online billing software, you should have a list of questions that will help you purchase the right solution for your business. Here are some questions you should ask your vendor to develop a better understanding of these solutions.
- Is it easy to use?
- Are there any hidden and set up costs?
- What’s the state of security mechanisms?
- What are the customization capabilities of the software?
- What are the data backup and restoration mechanisms?
- Can the software scale with business growth?
- Are there adequate provisions for technical support?
Wrapping Up
Small businesses often shut down due to cash flow issues. Save your business from the wrath and take the pressure of invoicing by choosing the right online invoicing software for small businesses. These solutions will help you build a professional image, serve customers better, and even get good referrals from customers.
