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How Is Automation Helping Businesses Manage a Large Customer Base?

customized software solution

Greater the volumes of customers pouring into the business, tedious the manual processes will become. For an enterprise, the job of management does not only limit managing clients efficiently, but it is also even about managing the entire process of activities for a healthier flow. As manual processes line up, the chances of inaccuracy and errors increase to 45% higher.

The idea of sustainability, depending upon manual processes, for an enterprise falls down to 33% as said by the top European researchers.

As a business scales up, the processes around invoicing, payments, and revenue recognition are nearly impossible to sustain manually.

Realizing its impact on business, most businesses took a swift shift after exploring customized software solutions that automate maximum processes, both inhouse and client management.

Here, at Invoicera, We’re helping you understand how our automated custom billing software is helping more than 75 of our enterprise clients around the globe streamline their workflows for enhanced efficiency.

Keeping in mind all the frequently asked queries, while asking for customization, asked by our clients we have curated a list of all the changes a customized software solution brings to your business.

Here are 5 of the Top benefits of an automated custom billing software:

1. You Save Time and Resources

While managing clients, invoicing is one of the most crucial activities. Invoicing clients can be very cumbersome if you have to manually lookup for each client and determine their projects for invoicing.

The process further gets complicated when you have to make corrections, add values and make edits manually. It forces you to go through the entire creation process again & again.

With over 900 invoices created every month from every client(based on our database) handling such large numbers manually became pretty difficult and unimaginable in the past.

It was post integrating a customized solution that automated billing made management and workflow streamlined and timely. The same job of creating invoices would now get completed in 3-5 minutes and approvals became multiple hours faster.

2. Elimination of Errors Improve Accuracy

customized software

Manual processes are cumbersome, increasing the risk of human errors which can lead to several severe or minor mistakes and inaccuracies in delivering final products.

As the redundant manual processes increase, so does the risk. Apart from these errors adding extra expenses to companies, it also gives rise to added long-term costs with decreased customer satisfaction.

With automation, you only need to save customer information once and shall save it forever for further usage. This means everytime you work on particular client project, your information will be accurate and separated from other clients for precise management.

3. Better insight into metrics

Each company is keen about knowing what’s happening with their business. The BTS of activities and directions where data points to. Access to this data becomes even more critical for SaaS (Software as a Service) and other subscription-based companies. It is crucial as it helps you understand the health of the business.

The reporting features with customized software will help businesses gain key insights into the data after having segregated reports about sales, expenses, revenue, AR&AP, time tracking, invoices, and more.

4. Simplified Payment Collection with Automated Billing

customized solution

One of our recent clients, a SaaS-based company, came to us for getting a custom billing software designed after their amalgamation and expansion. It led them from having a few hundred clients to more than a thousand clients.

The old billing setup was not capable enough of handling the large customer base with solutions of automated billing. This made their invoicing and cash flow super slow leading to many losses and delays.

At Invoicera, we designed a completely customized software solution that helped them setup different payment modes with more than 30 payment gateways integrated with Invoicera. Also, the customization of language, approval process, and sheets enabled convenient workflows and management of their big customer base.

Read About: How a Customised AR & AP software help Businesses to Improve Cash flow

5. Improved Client Relationships

Client satisfaction and customer retention is a primary goal for every business. It is in light of his that all enterprises take multiple steps to provide state-of-the-art experiences to the clients to ensure constant engagement.

Automation ensure high professionalism by allowing customers to receive accurate invoices in time. Trust us, it is the another way of keeping your clients happy.

Apart from this, little personalized notes, such as thank you, with invoices are always appreciated. It is with such a customized software solution that you never forget the details. Don’t forget, you’re increasing your chances of getting paid before the due date 5-10%.

6. Multi-Layered Enhanced security

Invoicera keeps supreme care of its clients’ data by offering 3-layered security to keep the accounts and software safe. The multi-layered security ensures no unwanted intrusion into the account, keeping your data 99% safe from theft and loss.

2-factor authentication, security questions login, and save IP address for staff ensure only those who are authorized can access it.

7. Seamless Integration With Existing Business ERP and CRM

A  custom software solution like Invoicera allows you to integrate the custom solution to your existing ERP and CRM so that you do not have to shake their entire organizational processes. It easily gets adapted in your current environment to make jobs less chaotic and more productive. The automation and online integration with custom billing software creates transparency and streamlines the entire workflow of the oranization. It increases the overall productivity of the business leading to increased overall revenue.

Read About: Why do Businesses Fail to Effectively Manage Clients?

Conclusion

Invoicera is the most popular option amongst enterprises around the globe when it comes to integration. With more than 75 integrations we have proved to be in the hearts and minds of our clients always. Timely and accurate customization, client satisfaction with communication, understanding of needs has always helped us get positive response and appreciation.

You can too get in touch with us for every kind of customization, be it small or big. For us, understanding every need of our client, from online subscribers to enterprises, hold equal importance. Get in touch with our guides today.

 

customized software solution

Invoicera Ensuring Safety During Corona Virus [COVID-19]

COVID-19 is spreading very rapidly and it is affecting workplaces too. As a company, our goal is to keep our employees safe and deliver work to our clients timely. In this concern we have taken various preventive measures to fight against this deadly Corona virus.

Here is how we are keeping pace with the current situation and ensuring uninterrupted timelines.

FREQUENTLY ASKED QUESTIONS

1. What preventive measures are we taking to keep your employees away from COVID-19?

We are constantly educating our employees regarding the symptoms and prevention of coronavirus.

  • We are proactively taking special care for maintaining overall hygiene and cleanliness at the workplace.
  • We are also encouraging employees to be extra cautious while traveling from public transport or even work from home.
  • Hand sanitizer and masks have been provided to the employees.
  • We are keeping ourselves away from public gatherings and social events for this time period.

2. How are we ensuring uninterrupted deliverable during this phase?

  • We have facilitated our employees with the required hardware and software so that they can work from home.
  • We have provided our employees with proper training to use tools to avoid any communication gap while working from home.

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3. What are we doing to keep our premises germ free?

  • We are encouraging our employees and housekeeping staff to routinely clean all frequently touched surfaces in the workplace, such as keyboards, remote controls, desks, countertops, and doorknobs and sanitize them with disinfectants.
  • We are also providing disposable wipes so that workers can easily wipe down commonly used surfaces.
  • We are also frequently disinfecting our washrooms and floors.
  • We are using disposable cups/glasses for liquid intake.

In this critical situation, we are committed to keeping our work going without affecting the health of our employees. We hope that the situation becomes normal very soon.

 

prevention-against-corona-virus

 

 

Top Entrepreneurial Traits You Should Know About

entrepreneur-traits

Wealth is inspiring, more fascinating; But the path is exigent. Creating wealth from nothing is what startup dreams are made of.

Late night, early morning or mid night calls, an entrepreneur has to power through each of it without a doubt. The constant juggle of jobs leaves the person with undenying anxiety and stress. Focus towards ambition is the only motivation that helps sail through. It is the determination and focus that made Bill Gates, Mark Zuckerberg, Jeffrey Bezos the names that they are today.

Bill Gates, the founder of Microsoft, currently possesses a net worth of $85.7 Billion dollars and tops the list of elite self made billionaires in the world. Bill gates sets an exemplary inspiration for those who have a goal in mind through his journey. Technological innovation, conscious business strategies, and aggressive business tactics through the journey led to Mr. Gates become the First Self-Made Billionaire in 1987.

Another most influential, determined, and innovative idea of success processed by the computer-programming student of Harvard led him to become the name amongst 5.5 million users and prospectives by the end of 2005. None other than the maker of Facebook, Mark Zuckerberg currently stands at the networth of $78 billion.

The determination, observation and many other entrepreneurial traits are common who are on the ladders of success.

Find out the list of top self-made billionaires published by Wealth X, a Singapore-based firm that compiles research on the ultra-wealthy.

 

business-traits

 Image Source : Entrepreneur.com

Fascinating, isn’t it?

Above is the list of top SELF-MADE BILLIONAIRES. Here is what led them to become the number ONE.

1. Vision:

A vision that is far fetched will open your mind to endless possibilities of the future. It will help you overcome obstacles and fears and hold you on in the tough times. It creates a purpose that becomes a measurement of success.

2. Passion:

Motivation, self-belief or often overused “Passion” is the burning desire to excel, keep going on, and not quit; even on the worst of days. The enormous zeal & faith are the guides that keep the faith alive despite all obstacles. If you want to know an entrepreneur truly loves his job, judge it through his motivation and determination towards building his enterprise every single day. An entrepreneur is always improving his ideas and stemming together strategies to succeed.

3. Decisiveness:

entrepreneurship traits

Decision making isn’t an inherited talent, it is a calculated analysis of market trends, upcoming sales season, and business opportunities that lead to an accurate decision. For a businessman to be decisive, the key influential factors are aware of every detail that can affect the business.

4. Creativity:

Hard work is the road to success? Not really! The road to success in today’s competitive world is smart work. In the world of billions, the only MANTRA to succeed is the inventiveness.

Creativity does not stop at the ideation of the core business setup. But, how you carry each business activity. Every brick comes together to build the wall to hang trophies. Small steps like automating processes, investing smartly, and tracking each business activity to stay aware give birth to creativity.

5. Courage:

To build an empire all by yourself is a courageous decision that moved you to take up your passion as a new career option. Through this very decision, every step that you will take will be a courageous decision that you will make. Sometimes calculated, many times courageous, your business will demand you take calls. The best way to know the step forward is by listening to your instincts. Hear the inner voice, even if that stops you from putting an ear to what experts have to say.

6. Optimism

business traits

Not every day in an entrepreneur’s life is rosy. The clouds of uncertainty and always cover the light of motivation. A great entrepreneur does not leave the dream. He brims with optimism because his belief in his dreams never fade.

“Tough times never last, but tough people do”- Robert H. Schuller

Minor setbacks are obstacles that should pause you. But, never derail. Plan actions to overcome obstacles and then start moving towards the goals again.
Don’t forget to learn meanwhile!

7. Constant Learning

The world is constantly evolving with new trends emerging. Those who ignore and do not keep pace with constant changes obsolete with time.

If today, an organization still works with paper invoicing and manual processes it is wasting 78 hours, on average. While others who automate and opt for a customized software solution are saving 72 hours. This means 72 hours of more productivity and closer in the race to win. The ability and desire to constantly learn should never fade away. An entrepreneur should be aware of everything, world, trends, markets, climate, and even behaviors. Each news is important, opportunities crack through every information.

Read About: How to Overcome Business Challenges With Customized Solutions

8. Confidence

A successful entrepreneur never doubts himself. If Mark Zuckerberg or Bill Gates would have doubted their ideas. Today, we wouldn’t be communicating. They are confident about their ideas and processes through which they’re leading it. Such confidence is gathered through the process of learning and evolving. And the confidence they possess reflects in everything they do.

9. Self-Starter

entrepreneur traits

A boss orders, a leader leads. In order to be a successful entrepreneur, it is important to lead the path towards goals. Don’t just talk about plans, execute ideas by yourself to help your team follow your path. Self-discipline and motivation are the first few steps that a successful entrepreneur should take and let your team follow.

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Conclusion

Other than these traits, a successful entrepreneur is the one who is always curious to climb ladders and unlock the treasure boxes at every step. The curiosity to gather every reward while climbing and moving forward keeps the determination and motivation to work hard intact.

The other most influential trait of successful entrepreneurs is the ability to communicate and manage employees. Employees are the support system that help you succeed. Keeping them motivated and happy helps your business soar. Invoicera, provides you a custom software solution which also increase your employees’ productivity due to Automation.

So, if you’re on the journey to becoming an entrepreneur, you have just entered the exciting roller-coaster world. This journey will have many highs and lows. But trust us, it will be all worth it in the end.

 

How Invoicera helped Talent Aquisition Firm to Easily Manage AR & AP | Case Study

customized software

One of the majorly spread and dominating industries of all time, the Fashion Industry is a bigger business than most of us ever consider. Just like any other segment of the market, the fashion industry transacts likewise. Exchange of goods and services is very prominent, enabling business.

Facing some similar invoicing and accounting challenges, one of the major talent acquisition businesses from Spain planned to get an entire invoicing solution customized.

Unique workflow and client dealing made it hard for our client to manage accounts payables and receivables. Falling prey to loss of profits and cash, they decided to streamline the entire workflow with automation through customized software.

Some of the Major challenges faced by our talent acquisition client were:

  • Hassled management of cash flow with two different accounting and invoicing software.
  • Untrackable third party expense and revenue.
  • Need for customized invoice template.
  • Invoice customization to manage invoices and payables through the same invoice.
  • Automation of data management.
  • Invoice to receipts conversion for the third party.
  • Unsegregated and unfiltered revenue calculations.

At Invoicera, we heard the entire challenges and decided to curate a completely new invoicing software to make invoicing and accounting easy and taxation completely hassle-free.

The entire procedure for customization include:

 

1. People Management

customized software

Multiple-layered invoice management is a cumbersome task, especially when you have to manage invoicing between clients and third party models. Invoicera created an invoice management system that created multi-layered invoices in a similar document. It made accurate profit calculation convenient and precise.

 

2. Invoice Management

Just like any other business, invoice management is a hassled task in the fashion industry too. The automated invoice management software ensured streamlined management of invoices and payments.

 

3. Report Management

customized software

To ensure full visibility of cash flow, a precise data management of transactions is important. Customized segregated reports of expenses, revenue, salary, and third-party payments help in presenting clear status of the cash flow, further helping in the efficient analysis.

 

4. Payable/Refund Management:

One of the keen requests made in customization of invoicing software was the management of payables/refunds. Constant third-party dealing made it essential for our client to keep a tab of payables. A separate portal for payables management made it convenient to track payables and manage them in time.

 

End Note

Invoicera banks upon its 14+ years of experience in this domain, very well knowing what our client wants. The customized software  made it possible for them to utilize their resources to the maximum along with enhancing their overall productivity.

Invoicera takes pride in providing our clients with an expert software solution in a limited time of 10 weeks. Through customized software integrated into their existing legacy systems, Invoicera provided them features like custom billing, client management, recurring billing, expense management, payment management, customized invoicing along several others features with one of the most trusted client service satisfaction.

After some regular follow-ups, the client appreciated our efforts and told us how they have simplified their business process and made it faster almost by 40%. Contact Invoicera for various customized software solutions to automate your AR and AP process. Invoicera builds software on the basis of Clients requirements. Have a look at our case studies section which showcase our expertise.

 

custom software

How Custom Invoice Approval Software helps you make Flawless Invoices

invoice approval system

The invoicing process of a company is one of its most important tasks, as it is the systematic, professional and appropriate way to ask customers/clients for payments and bring cash to the company. Therefore, it deserves your utmost attention.

Even a single mistake, usually in manual invoicing, like errors in bills, non-addition of billable amounts, improper customers’ address, unclear records of the services or products provided, or forgetting to include a discount, offers, or late fee charges can lead to erroneous payments from your customers.

So, how to make flawless invoices?

You can make flawless and accurate bills by investing in a custom invoice workflow software. It will automate your whole billing process. And, the benefits of automated billing process will be clear to you with the following statistics:

  • Your invoice processing costs will be 91% less.
  • Your billing processing time will be 46% shorter.
  • You will receive late payments will decrease by 12%.
  • Your staff will take 30% less time to respond to inquiries.

To get such advantages, all you have to do is to feed the custom billing workflow software with the necessary details like customers’ addresses, previous transaction records, usage details, and the like used in preparing invoices.

Moreover, for your better understanding, here’s how custom invoice workflow can help you make flawless invoices.

1. Involving your entire project team

 

invoice-approval-system
The resources a project consumed must be known and mentioned as a billable amount in the bill. Therefore, how much time, how much money, and other variables a project took can be exactly told by those who worked on that project.

Custom invoice approval software allows such employees to check and approve the invoice so that no billable amount is missed and upon approval from everybody, the invoice is automatically sent to the customer.

So, having such an efficient invoice approval system means you will earn a better ROI on every single penny for the resources that the project consumed.

 

2. It eases your Accountants’ burden

After setting up an electronic invoice approval process, your accountant will not have to go again and again to every employee who worked on a project, as such employees can log in to the system to share their project expenses with the accountant.

It saves a great deal of time and effort, and your accountant gets rid of unwanted and unnecessary burdens like making a draft first, taking it to such employees, asking them for the project details, making changes in the rough bill, and so on.

When free from unnecessary workload, they become more productive, and the atmosphere of your workplace will have an air of peace, goodwill, and comfort.

Read: How Invoice Approval Software help increasing Employees Productivity

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3. It keeps track of all transaction details

invoice approval workflow software

 

Apart from including every employee worked on a project to add every billable amount, this custom billing workflow software also keeps tabs on the usage of services, time, pending payments, particular package prices, the number of products, and the like and add them to the bill accordingly.

Doing so, it leaves no room for confusion and potential conflicts between you and your customers, as everything is transparent.

 

4. Addition of late fees and discounts to invoices

Modern invoice approval workflow software automatically adds late fee charges or reduces the discounted amount from the bill.

On the other hand, manual invoicing often leads to bills without taking such considerations into account, which means less or more payment from your customers due to incorrect bills. Such mistakes either leave your customers miffed with you or make hamper cash flow, thus spoiling your cash flow management.

Therefore, going for a custom invoice workflow system is a wise course of action here.

 

5. Easily customizable to automate your company’s invoice-making process

invoice approval system

 

You must remember that different companies have a different way of preparing bills like:

  • Making a draft bill first, send it for approval, having received approval, send it to customers.
  • Assigning different tasks to every member of the accounting department to make bills, receive draft forms, edit them, and send the final version of bills to the account department head for approval.
  • The accountant goes to every employee who worked on a particular project to know the resources spent and put that on paper in the form of a final bill.

The three ways of invoicing process given above are the usual way of making bills when manually done. Such billing process consumes a great deal of time, effort, money (spent on papers). Despite that, the issues mentioned at the beginning make their own place in invoices, resulting in poor cash flow.

And, if your company has its own invoicing process like any of the three points given above, then you can easily customize the system to automatically to get all done, which means saving time and effort.

All your employees who have worked on a particular project (as mentioned above) can sign in and let the accounting department know all details related to the expenses on the project so that an accurate bill with all billable amounts can be generated and sent to the customer automatically.

 

Read About: Steps to A Faster Invoice Approval Process

 

Sum up

Your clear understanding of how custom invoice workflow software can help you make flawless invoices is our intended goal. And, we also told you how it can benefit you with stats.

We told you that the custom invoice approval system can involve all employees who have worked on a particular project to share the billable amount details, be customized as per your company’s invoice process, keep tabs on all transaction details, and the likes.

In a nutshell, investing in a custom invoice workflow system will not go futile, as you will be able to save money, time, and effort, which can be given to something feasible.

 

invoice-approval-software

AR and AP Management Doesn’t Have To Be Hard: 4 Tips

ar and ap

You must be living under the rock if you didn’t know the rising importance of AR and AP management gaining mainstream attention for successful business growth.

Managing your AR and AP in a systematic manner is one of the prime concerns for all business types. An efficiently managed account leads to steady cash flow and a much better scope of growth. But if it’s so important, then most of the businesses must be handling it quite actively? Isn’t that the scenario?

In today’s time, most of the startups are spending a bounty upon skilled resources to handle their AP and AR in a systematic manner. But despite spending so much on account management, the final result is mostly a nervous face in front of an unbalanced account sheet wondering about how to strike a balance between account payables and account receivables.

Take this, 60 percent of small-business owners and entrepreneurs feel they are not very knowledgeable about accounting and finance (Small Business Report – Accounting). Putting in manual labor and hours of effort won’t fetch you satisfactory results. What you really need is to innovate your business perspective and be inclusive of new advancements in technology.

AR and AP automation is gaining momentum for effective account management. More than 64.4% of small-business owners and startups are now switching over accounting software to keep a track of their account’s well being.

 

Here are the Top 4 Expert Hacks to ease your AR and AP Management for your Startup

 

1. Easy Customization of AR and AP management

accounts receivable accounts payable
Non-customization of resources is one of the biggest roadblocks for every business. Sticking to traditional ways holds a lot of value in general life, but in business, things are often played a little differently. Holding on to a traditional method of account management creates a lot of issues for your accountant often leading to problematic conclusions.

We are not boasting, but we are just letting you know that according to the Aberdeen Group, with minimal automation, it may take up to 16.3 days to process a single invoice. Manual accounts payable management is not only tedious but also hampers your staff’s productivity. Investing so much of your precious time into creating just a single invoice leads to time mismanagement and decreases the marginal utility of the resources meant to be spent on other projects.

Customization of your accounts simplifies your overall process. Customization allows you to mold your existing accounting software as per your own set of requirements. It simply integrates into your existing CRM and ERP systems for fluent functioning. It also helps you to manage your staff and expenses for an efficient workflow.

It not only adds to your overall efficiency but also leads to better productivity and adds to ease of doing. Customization also makes your whole business process transparent and immune to manual errors thus enhancing your results and cashflow.

 

2. Sort your Purchase Order Management

account payable and receivable
Most of the enterprises end up spending too much of their valuable resources in managing their purchase orders. Inferring insightful data from your paper PO is often a kerfuffle between the two opposing data entries. Wondering why?

Recording your purchase on a sheet of paper has an inherent flaw of wrong data entry. Since the induction is manual, it becomes prone to double data entry, mismanaged data, incomplete entry and much more!

Don’t believe us? Did you know around 3.6% of invoices manually entered include an error caused by data entry? This may seem minor loss but it gains an important pedestal when there are several purchase orders which need to be prepared on a daily basis.

Facilitating the whole process of PO management is the key to strike a balance between your balance sheets. An accounts receivable software automatically inducts your PO which further allows careful matching with your inventory leading to sending the exact payable amount as mentioned in your accounting sheet. All this culminates into well maintained balanced sheets and steady cash flow.

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3. Pace up your Invoice Approval

account payable solution

Maintaining a smooth functioning within your business verticals is imperative for continued business success. Defining specific roles to every individual along with assigning tasks is one of the most valuable characteristics of a successful startup or enterprise.
Working in a business is similar to the working of your body. When all the parts work in unison, it leads to lesser efforts and much more productivity. But what will happen, if we take out one part from the whole system, wouldn’t your activity and ease of doing things get hampered? This is what happens when there is no defined workflow within a business which leads to decreased productivity and severed workflow.

Good management of AP and AR comprises of an effective and harmonious collaboration of employees. You can manage your accounts by defining your invoice approval process and the duties assigned to every individual. With automation, you can keep track of your invoicing process along with acute tracking on inbound and outbound cash allowing easy accounts payable management.

 

4. Make Your Expense Management a Smooth Sail

accounts receivable management software

As the wise old saying goes, “even a small leak can sink the ship”. It’s not a hidden fact that expense management is as much important as handling clients or looking for entrepreneurial opportunities. Expense management is much more than balanced sheets and accurate account statements.

In order to manage your expenses, you have to focus on the root source which is your account payable and receivable. Untimely payments and inaccurate invoices are one of the biggest roadblocks for all startups and enterprises. Delayed payments ultimately lead to discontinuous cashflow.

As per the studies, 58% had needed to pay late payment charges to suppliers. No wonder what all could have done with this amount of money!. Apart from this, startups and enterprises also fall prey to incorrect estimates leading to limited financial vision thus hampering their client’s accounts as well as their own finances.

With automated custom billing software for AR and AP management, you can keep a track of your expenses in real-time along with custom reports for efficient financial forecasting. In this way, you can cater to multiple clients from one platform and make your AR and AP management a smooth sail.

 

Final words

Handling humongous accounts with daily entries and a keen sense of observation is something that bothers almost every business type. Be it a startup, enterprise, or even a multinational company, facing a cash crunch is something that everybody wishes to avoid.
The business is transitioning and driving towards a much holistic development route which allows them to induce innovation into their business models and keep a steady growth rate. Since revenue is the major driving factor for any business type, it becomes imperative to handle it wisely. Custom invoicing software bridges the gap by presenting single window solutions to all your expense related worries.

The above-mentioned tips are based on the years of experience in watching the business succeed and fail up close. The world is moving towards technology-driven automation. Thus customizing your AP and AR management is your key to steady growth and fluent cashflow. Always remember, every business needs to be nurtured with care and supply it with all that is necessary.

 

 

 

 

 

Overcoming Business Challenges With Customized Solutions

Despite being one of the most integral parts of any business type, tedious manual invoicing is taking a toll on firms due to its structural inefficiency. Invoicing gains prime importance in a business since it acts as a medium for revenue collection. But what would happen if this medium is itself full of inherent flaws and is too inefficient to extract maximum utility?

As per researches, 56% of businesses experienced cash flow forecasting problems due to AP issues. The poor cash flow in any business could be attributed to some of the prime reasons such as:

 

1. Late Payment Stands Top among Global Business Challenges

Late payments are a huge deterrent to the healthy cash flow of a business. Any delay in receiving your payments makes a cascading effect on your account sheets leading to a cash void at the end of the month. Take this as an example to understand how much late payments can affect you. Businesses in the Americas lose 51.9% of the value of their B2B receivables that are not paid within 90 days of the due date.

 

2. Ineffective AR & AP management is one of the Common Business Challenge

 

business challenges

There’s no doubt in the fact that balanced sheets are the biggest satisfaction for your accountant at the end of the month. On average, 3.6% of invoices have errors, probably due to manual data entry. Clearly, even a minor data discrepancy could lead to a disastrous effect on your account’s health.

 

| Read About Miraculous Accounts Payable(AP) Process Improvement Ideas

 

3. Inefficient Expense Management

Management of your expenses is as necessary as maintaining a keen record. Taking acute notes of where your money is being spent is absolutely necessary in order to efficiently forecast your expenses and plan beneficially for your business.

 

4. Chaotic Client management

 

business challenges

Entertaining a huge client base seems like a great idea especially since more clients will bring more revenue. This may seem like a win-win situation for you, but maintaining a healthy relationship along with proficient customer satisfaction is something which many aim for but are unable to achieve. 90% said they regularly had phone calls from suppliers chasing payments. In the absence of a proficient invoicing setup, things could become chaotic if not managed properly.

 

5. Fizzled finances and its forecasting

 

Every business model thrives on a well built and well thought financial structure that aims to derive maximum utility from the present resources. Finance management and its forecasting are fundamental for the holistic growth of a business. 55% of SMEs find cash flow to be the biggest hurdle in their path to success while over 40% point to an increase in their working capital requirement compared to the previous year as per researches.

 

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6. Managing Multiple Client Accounts

Getting multiple client accounts on board may seem like a great idea, but what follows is an absolutely necessary step to managing them proficiently. It is suggested that more than 86% of buyers are willing to pay more in return for excellent customer services, thus making it one of the key areas for improvement.

 

7. Payment Management

Businesses have to make it as convenient as possible for vendors to facilitate smooth payments and transactions. In the case of an ineffective payment receiving system, this could lead to a chaotic bottleneck like situation rendering hampered cashflow which adversely affects the health of the company.

 

8. Data Security

 

business challenges

According to Gartner, worldwide spending on cybersecurity is forecasted to reach $133.7 billion in 2022. The importance of data security could be estimated through the extent of money, businesses are willing to spend in order to keep their data secure. Much of this expense could be reduced when you employ a bespoke custom invoicing software that can provide you with super secured data hosting.

 

9. Limited Integrations

Outsourcing your business processes is still deemed as unsafe, hence most of the companies nowadays are looking to host software in their existing legacy systems and integrating their processes with important platforms such as Magento, Shopify, etc.

 

10. Custom Workflow Management

 

common business challenges

Business efficiency is an important aspect to determine the value of any firm. The workflow hierarchy of a process as complicated as invoicing has to be simplified in order to ensure timely completion of projects undertaken. If not established well enough then even the meager processes would take a lot of time leading to a burdening effect on your ROI.

By now you must be clear about the challenges your business may face if it doesn’t adhere to new technological innovations and advancements. We understand the needs of your business and how it can be resolved with the help of an expert custom billing software like Invoicera.

 

Conclusion

Invoicera is an all-in-one custom billing software that simplifies your whole process of invoicing. With several years of experience and 3 million users worldwide, Invoicera bridges the gap between your conventional invoicing and business automation through its brilliant features which automate and simplifies your whole business.

Banking on our years of expertise, Invoicera has helped several industries in simplifying their business processes. Right from helping travel agencies to manage their recurrent invoicing to simplifying expense management for a hotel firm, Invoicera has effectively bridged the gap in their invoicing and automated it to extract better utility. We have served various industries like Travel, Hotel, Transport, Digital Agencies, IT and many more domains and looking forward to extending our reach to new domains.

We have always strived hard to cater to a wide network of clients and resolve multiple business issues that were put in front of us. Here are some of the case studies to help you relate with our work and describe how Invoicera helped several business owners from different domains.

 

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How To Manage Your Enterprise Billing: Expert Tips

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Tough corporate competition, constant innovation in technological assistance, payment management, tedious invoicing process, workflow woes are some of the most important challenges every enterprise has to face on a daily basis. In order to thrive in the present scenario, every enterprise is looking forward to improving their business model to generate better revenues and enhance their overall ROI.

Is there any long term sustainable solution that can provide significant relief from their recurring predicaments? Here is a detailed explanation of how a bespoke custom invoicing software will help you manage your enterprise business.

Did you know? More than 50% of companies are soon planning or have already started to acquire or upgrade their ERP systems.

Enterprise billing software offers an ideal solution for integration with ERP, CRM and eCommerce platform, custom workflow management, bespoke custom software solutions, advanced reporting and more.

 

Here is a detailed analysis of how to look at the entire B2B communication cycle holistically and optimize the revenue and payment process for the business.

 

1. Efficient Management of Client Base

Enterprise often has to cater to a large number of users. Effective delivery of services in a stipulated time period is a prerequisite for healthy cash flow. In case of delayed sending of invoices, the whole communication breaks down. Due to this, the overall customer satisfaction rate gets hampered leading to a loss in your business.

Custom software allows you to handle multiple client accounts at a single platform. In order to facilitate the smooth flow of your CRM, several integrations can prove to be helpful. This bridges the gap between your authorities leading to more productive communication on a single platform and huge savings on costs and time took. Here are some salient features of enterprise billing software.

  • Smooth CRM integrations: Reduce costs, time and efforts through custom invoicing software integrated into your existing CRM system.
  • Customized Solutions: Customised tailored for your needs. Make your business processes easier through Custom workflow management, automatic reconciliations, bespoke permission management, user hierarchy and much more.
  • Manage Global Clientele: Send invoices according to the language and currency preferences of your clients.

 

| Read About: How a Customised AR & AP software help Businesses to Improve Cashflow

 

2. Manage your ERP and Invoicing Effectively

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Enterprises are looking up to newer cloud-based custom invoicing software for improving the overall productivity of the organization. Traditional ERP systems are struggling with the numbers of services being provided, the time to market and the visibility of transactions.

Invoicing, on the other hand, has become problematic due to delayed creation process which leads to chaotic invoicing and payment management

Here are some common issues with traditional ERP systems

  • The systems are extremely inflexible according to the needs and requirements of the business.
  • There is a need for a single process for B2B communication cycle.
  • There is a huge maintenance cost of enterprise resource planning applications. The upgrading of existing systems is a huge concern.
  • The systems are not global and do not cater to regional requirements.

With bespoke custom software, you can simplify even the most complex business processes. Make your business communication easier with an efficient ERP system and simplified invoicing that allows better ROI against your investments. Custom invoicing software allows one-stop-shop for all management woes. Right from client management to financial reporting, a bespoke enterprise billing software is an ideal solution to help you manage processes. Here’s why

  • Efficient Management of Client and Vendors: A single custom invoicing software dashboard to manage both your clients and vendors at the same time. Manage and track your work outsourced to third-party vendors.
  • Better Team Productivity: Managing large teams is difficult. Now, Improve large team productivity with task and time tracking along with staff permissions.
  • Send Accurate Invoices in One Go!: Activate the invoice approval process and get invoices approved by the team on the go. Create error-proof invoice approval work with expert enterprise management software.
  • Customized Reports: Calculate ROI and productivity with time tracking reports and expense reports. Analyze and forecast finances with invoice reports, payment reports, currency reports, profit/loss reports and more.
  • Save Huge on Costs: Efficient management of your business resources and business processes will help you to save on costs and time.

 

3. Making your Business Processes Faster with Automation

Custom-invoicing-software

Traditional invoicing methods are prone to several errors which can prove detrimental to your business’ health. Due to non-automation, your invoices may suffer from incorrect data, double data entry, longer generation time, delayed sending and much more. All this inadvertently leads to poor cash flow.

With a custom billing software like Invoicera, you can simply automate your whole invoicing process. Simply send your invoices at lightning-fast speed in just one click. Automate your client management, staff management, payments, accounts and much more with an expert enterprise management software like Invoicera.

  • Automate your Billing: Send recurring bills to your recurrent clients. Schedule your invoices and add late payment charges. You can even send due payment reminders to maintain a healthy cashflow Create a detailed tax report for understanding tax burden.
  • Custom Reporting: Manage your business efficiently with customized reports crafted for better planning and strategizing of your enterprise resources. Manage your taxes, invoices, project, expenses, estimates, and finances easily.
  • Payment Management: Receive payments from over 30 international payment gateways with multi-currency support. Send invoices in multiple languages to cater to a global clientele.
  • Super Secured Environment: Your data is important for you. Safeguard your data from theft with 3 layered secured cloud-based hosting for super secured data management.

 

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| Read more: 10 Major Reasons to Choose Custom Billing Software

 

Conclusion:

Choosing a cloud-based enterprise billing management solution like Invoicera helps in the simplified management of customized business invoicing requirements. Serving 3 million users all over the globe, Invoicera helps you save time, costs and resources by automating your invoicing process with the custom invoice software.

Witness a growth in your business of almost 23% with Invoicera and improve your productivity and ROI like never before.
Switch to Invoicera today to experience the new way of invoicing and avail the best features to manage your enterprise

 

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Amazing Christmas Discounts! Flat 50%

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Singing with joy and laughter! 

After all its merry Christmas…

The festival of joy and love is just around the corner. The festive spirit is raging high as the sounds of hymns and carols fill the atmosphere. Who doesn’t like celebrating Christmas with all the decoration, food, fun, laughter and much more? 

We at Invoicera love to send out our gratitude to our beloved users who have always appreciated us. As a token of our love and appreciation, we are ready to amp up your festive spirit with the biggest sale of this year! Now get a flat 50% discount on our annual and monthly subscription( Monthly: for the first 6 months from date of Purchase | Yearly: for 1 year from date of purchase). Also, get a 20% discount on all types of Customized solutions.

Christmas can’t get any better this!

Avail the biggest year-end bonanza now!

 

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Why Enterprises need Custom Billing to Grow Business upto 40%?

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Right in the middle of the night, when I was sipping my coffee and reading news about how a company lost almost $2 million just because its major documents and invoices got burnt under the sudden fire that cracked because of a major short circuit in the office.

It was devastating to see how an organization lost its existence all of a sudden. But, then my logical mind asks me, Are we that helpless to lose all that we have with just one unfortunate circumstance? Or we’re still overlooking what lies in front of us.

The global cloud ERP software market is projected to be worth 40.5 billion U.S. dollars by 2025, growing at a CAGR of 13.6% during 2019 and 2025. With such high stakes, as an enterprise one of the most precious things we possess is our documents and INVOICES. Invoices are our key to monetary rewards to be received for the goods and services we offered.

Enterprises often work in a competitive environment wherein they have to constantly improve their business process in order to thrive. Management of a huge client base, along with regular billing to ensure timely payments are some of the key challenges they face on a daily basis. How to handle this problem?

Look no more as we provide you the most suitable solution for your challenges, customized enterprise billing software.

 

Here is a list of few needs out of thousands that tell us why we all need a customized enterprise billing software for our companies:

 

To Have Bespoke Invoicing

enterprise-billing

 

Client management is an integral part of a developing enterprise. Since enterprises have to cater to a large client base, hence they face the challenge of supporting their business process and complement their customer satisfaction rate for efficiency. They need to send them regular invoices against the services provided to maintain transparency in their communication.

Often times, these invoices are not customized as per the need which leads to complacency and renders the whole communication ineffective. Apart from invoices they also have to manage and track their expenses in order to strategize proficiently for their business and look towards developing their established business verticals.

A custom invoicing software will provide them with a single-window solution to manage their clients on a single platform. Through this platform, they can also manage their expenses, invoices, and much more for enhanced productivity of the enterprise and also save costs and time for better ROI.

 

In A Nutshell

• A completely customized invoicing solution as per your company’s requirement to set you apart from the others in the lot.
• It lets you add functionality requirements and improve business productivity.

 

An Automated Payment System

Payments are the basic blood flow for any business type. It is an integral part of any enterprise which has to be managed tactfully to maintain healthy cash flow. As per reports, Businesses in America lose up to 51.9% of the value of their B2B receivables that are not paid within 90 days of the due date. Thus monitoring your payments is vital.

Enterprises receive their payment through clients out of whom many are recurrent profiles that need to be billed periodically. They have to manage their clients efficiently and track their pending payments too. Record keeping plays a major role over here as late payments hamper the cash reserve leading to severe cash flow.

Enterprises can manage their payments easily with enterprise billing software. They can track their due payments and levy late payment charges, Custom Invoicing Software like Invoicera automates their invoicing process by automatically sending timely invoices to the clients. You can receive payment through 30+ payment gateways and send invoices in multiple languages and currencies.

 

In A Nutshell

• Recurring billing profiles can be created for easily receiving automatic payments from subscription-based clients.
• Easily manage payments, dues, credits, and reports in one single dashboard.

 

| Read About: Why 80% of Enterprises are Choosing Custom Billing Softwares?

 

It Lets You Have Complete Control with Self-Hosted Solutions

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Sourcing integral processes such as invoice creation and payment management to a third party source seem like a viable option in order to save costs, but oftentimes, third party sourcing is prone to data mismanagement leading to data theft or leakage.

Enterprises look forward to hosting third-party software on their own premises. This allows them full authoritative control over their data and business processes. This is an efficient step to increase the utility of your businesses which can be enhanced with Enterprise Billing Software like Invoicera which provides more than 60+ integrations.

Invoicera adapts to your existing framework and allows integration into your own existing ERP & CRM systems. Now you can integrate several e-commerce shopping carts integration like Magento, Zen Cart, Open Cart, Shopify and several other custom carts of your choice along with AR & AP management.

In A Nutshell

• With on-premise hosting, the data remains with you and have complete control over your invoicing data.
• The efficiency of hosting business to your customers and branding solutions. 60+ integration with e-commerce shopping carts along with AR & AP management.

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Complete B2B communication

Like in every business maintaining a sense of transparency goes a long way in forging stronger bonds. Likewise, enterprises have to maintain a clear record of their accounts, scheduled documents, inventories and much more in order to be clear in terms of their existing scenario and plan in accordance with their resources.

Account management is an important aspect for an enterprise as they have to keep a record of their purchase orders, inventory and expenses for proper business planning. Thus sending out such invoices on time is pre-requisite for timely account management. The detailed account information will also help them to plan their strategy and plan for better development
Enterprise Billing Software is the best solution to manage all the complex tasks with ease. It takes care of all your accounts and pending payments and helps you to manage your inventory efficiently. This way you can see a stark growth in your efficiency and productivity of your business processes.

In A Nutshell

• Manage invoices, purchase orders and expenses with ease.
• Send out all documents in a timely manner.
• Send and receive purchase orders and estimates and convert them into invoices.
• Manage buyers and vendors in a single dashboard.

 

Improve productivity with custom work-flow management

Every enterprise has its own established hierarchy which facilitates its workflow. This brings their staff members together and improves their communication in order to make the processes smoother and more fruitful.

With custom invoicing software like Invoicera you can create custom workflows for your firm. Set authorities and approve your staff members for creating an in-house invoice approval workflow on a single platform.

Keep track of your employees’ productivity and set tasks for them. Manage all your staff members, projects and data through one single platform for better management in a 3 layered secured environment

In A Nutshell

• Derive a custom workflow for your business.
• Establish an in-house invoice approval process to send accurate invoices in one go.
• Keep a track of all your staff members, projects and data from a single platform in a secure environment

 

| Must Read: 10 Questions to Ask Before Selecting an Enterprise Billing Software

 

CONCLUSION

The enterprises require custom billing software that can keep the pace of business. The profitability of any account depends on the cash flow. The key factor for the revenue growth in enterprises includes new technological advances with innovative solutions to gain the overall competitive advantage.
Invoicera is one of the best enterprise billing software available in the market. With an experience of 16+ years and an ever-growing user base of 3 million users worldwide. Invoicera is widely appreciated for its features and customer services.

Simply manage your business processes with the best custom billing software. Invoicera automates your work and helps you reduce time and costs for better productivity. Having delivered 100’s of projects and maintaining a high customer satisfaction rate, Invoicera is perfect as your next invoicing partner.

 

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