As a small business owner, you are always on the lookout for better and cleaner ways to conduct business. Tempting as it is, wildly throwing technology at your problems inevitably yields a counterproductive set of tools in your arsenal. This is especially true when seeking better ways to manage the invoices forming the revenue generation backbone of your business.
A cutting-edge invoice solution is a process many small business owners know they need to move forward with their dreams. Instead of being faced with an endless multitude of options staring back at you, pause for a moment. Consider these invoice solution features that will help you build a reliable process for time and materials billing.
Solving the stand-alone versus integrated invoicing support conundrum
The starting point in your invoicing search will take you deeper into all of the technology you currently use. Start by asking whether standalone invoicing software is enough, or whether you need invoicing software to integrate your other tools. This decision, however, involves answering some important questions to determine which is best for you. Let’s start breaking down what you need to know in order to make this determination.
Standalone invoicing software is easy to initially configure and install, and is usually pretty self-explanatory to operate. The issues arise when exporting payment data into third-party accounting software or when comparing invoicing, sales and inventory data. Performing these actions can be a labor-intensive manual process that may invite errors and inaccuracies in your books.
Integrating invoicing software within your point of sale (POS) solution is preferable for a number of reasons. Data is continuous, meaning that it remains consistent and flows freely throughout all business processes, including invoicing. With integration, remediating accounts payable and balancing the books are streamlined. Additionally, monitoring inventory and staff performance gives you an accurate representation of the overall health and efficiency of your business.
Add fluidity to the invoicing process with advanced technology
Invoicing is rarely a one-size-fits-all process, and often presents businesses with needed customization even with concise invoicing procedures in place. Your invoicing solution must be flexible, allowing you to make changes even if you have already sent out an invoice. Having the ability to edit, manage and view invoices regardless of resolution status is a powerful tool in your pocket.
Several features must promote both the power and adaptability of an invoice solution to get the most benefit. These are:
- Allowing the editing of outstanding customer invoices.
- Allowing for changes that add to or remove items from invoices, including returns or cancellations.
- Providing advanced search features so invoices can be found and reviewed by multiple data points.
- Auto-sorting by specified criteria.
- Providing Invoice updates that automatically update POS inventory and sales records.
This is just a small example of adaptive invoicing features that will build financial strength when included with invoicing software. Also, these will contribute to the deepening of customer relationships through multiple customer-facing options and greater transparency.
Improve customer communication to improve customer relations
More important than your ability to automate your internal invoicing processes is using invoicing to strengthen customer relationships. Innovative invoicing software helps build deeper relationships with customers through improvements in how you communicate with them. This is made possible by innovative tools that give your customers more control over their experience.
Instead of giving another paper receipt to look after, digital invoices via email or online portal is a great start. Auto-generated reminders also present the customer with a clear channel of communication for modified or past due invoices. Integrating this with an online POS ordering system will give the customer control of any transaction from start to finish.
Building invoice solutions requires an expert’s touch
Modernizing your invoicing processes is a great opportunity to look at how you streamline all areas of your business. Smooth data transitions are the building blocks of lasting success in the modern business world. This is not possible, however, without fully integrated technology solutions to support the tools required for normal operation.
Putting this together is a task best left to the experts—those who live and breathe POS and small business technology. They will be your partner, transforming your goals into a powerful set of invoicing tools that maximize your success. Your confidence in your new technology platform will grow, as will the expectations and satisfaction of the customers you serve.
Adding cutting-edge invoicing and integrating powerful POS technologies turns the business world in your favor. The consultants at talech are the best-equipped to blend all your moving pieces into the business you dream of running. Get in touch for a free demo today.
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