Life in a digital agency is faster than any bullet train in the world. Managing a successful digital agency requires great organizational skills, advanced multi-tasking abilities and exceptional attention to details. Apart, from the creative blood that flows into the agency, efficient cash flow also boosts one to do better. The flairy thoughts need to be streamlined and the frame should be good enough to help you have an easy rotation of cash. Just like any other company in the world, a digital agency also needs it’s business activities defined and managed efficiently.
Tips to Simplify Digital Agencies’ Invoicing
Here are some tips to manage your invoicing process in a simplified way and focus on your core business with invoice software for digital agencies:
Integrate Time Tracking and Invoicing
As a service provider, it becomes really challenging to send out accurate bills for the hours worked on a project. Using invoice software for digital agencies helps you track the hours worked on a project and directly convert these into invoices clearly helps you solve this problem. A single tool that helps you take care of the project productivity, on-time delivery, billing and payments is what you want.
Automate Invoice and Payment Generation
As an Agency owner, you are extremely worried about the speed at which invoices are being sent out. There are lots of invoices that get delayed from your end that can be really frustrating. You need to ensure that you are using the right invoice software for digital agencies that can schedule and automate your invoices and send them to your client mailbox in a timely manner. This, in turn, would increase the chances of the invoice being cleared on time.
Track Invoices and Payments
With a large number of clients, it becomes really difficult to track invoices, in a timely manner. Invoice software for digital agencies ensures that each of the invoices can be reviewed, to understand the exact status – Viewed, Paid, Due etc. This ensures timely and necessary action on the said invoices.
Personalized Client Portal
Sharing the statement of accounts to the client, on a regular basis can be a big hassle. A system that helps the client to view the invoices, as and when required, would be really helpful. This would help you focus on your business while the client gets all the required information easily.
Invoice Ageing Reports
Since many of the clients in the Agency business enjoy a credit period, it is very important to analyse the aging reports of invoices. This helps in getting an understanding of the average age of client invoices and take necessary action. You can ensure that the average age of invoices goes down, by revising your payment policies and insisting on earlier payments.
Expense Management and Billing
It is extremely important to manage your expenses well, while you are running an Agency. Having an expense policy in place helps in controlling the expenses and making sure that your staff members are recording only genuine expenses. Besides that, you need to use a billing solution that easily converts your billable expenses into invoices.
Simplifying the Payment Process
Many times payments get delayed purely because of complicated processes. Manual collection of cheques can become a big hassle because of additional resource allocation for coordination etc. A simplified online payments system with a click on the invoice, helps the client to conveniently pay up before the due date. This not only solves the problem of delayed payments to a great extent but also helps in improving the relationship with the client.
Also Read: How to overcome the major challenges of Digital Agencies?
Invoicera, the customized invoice software for digital agencies is a wholesome package that helps you streamline your entire business activities and cash flow intact. The 13+ years old invoice software for digital agencies is a complete package to cater to every aspect of business finances. From invoicing to tracking expenses or managing staff, every single business aspect can be managed efficiently. 30+ online payment gateways helps to receive payments from the global clientele hassle-free and cash flow super smooth.