INVOICE MANAGEMENT SOFTWARE FOR SMALL BUSINESS
Web-based invoice management software: A companion to your point of sale system
Accurately balancing the books is a challenge faced by many small business owners. These efforts are further complicated by open or past-due invoices that fail to be resolved during a specified accounting period. Not only does this contribute to financial anxiety, but it can also have a harmful effect on customer relations. Thankfully, one of the biggest contributors to unpaid invoices can also be one of the easiest to fix.
Invoice management systems built for small businesses must present you with customer-pleasing options that start by keeping the channels of communication open. By introducing transparency into how your invoices are created, you gain a higher level of trust. Doing this, and simplifying the payment process, requires you to rethink the technology you use for invoicing. By following a few proven guidelines, you will gain an invoicing system that is in better alignment with business goals and customer service.
Streamlining internal payment processes builds a solid foundation
Stimulating growth is always behind any effort to improve a business’s revenue streams. This is why rooting out and correcting the inefficiencies in how you create and calculate invoices is the perfect place to start. It may be tempting to purchase the most trendy invoicing software on the market to jump-start this effort. However, not only will this likely not meet all of your needs, the purchase of invoicing software may actually add more inefficiencies to your invoicing process.
A more productive way of adding innovative invoicing tools to your business processes is through a seamlessly integrated POS software solution.
This presents you with a better set of tools that can be used to modernize and, in some cases, automate many of your payment processes.
With data no longer an obstacle, you can turn your attention to using an invoicing solution from your POS provider. This ensures that the information needed for invoicing will work in every business task performed, and it expands the ability to automate repetitive tasks into invoicing, creating consistency. The resulting accuracy of combining all of these features will turn invoicing into a smooth operating aspect of your brand that will show in the level of service you provide to customers.
Automated customer communications help improve payment turnaround
Just as important as the swift, accurate generation of invoices is the ability to get said invoices into the hands of customers in a timely manner. A web portal is a great feature of invoicing software, as this allows you to quickly send customer communications both manually or through automated communications. There are four key moments in the invoicing process where concise communication with customers is especially important:
Communicating changes in invoice status
Past due communications
Transaction complete notifications
The automation of these important invoicing steps helps to build customer satisfaction through transparency and allows you to have a rapid response to modification requests and accounts that are falling past due. This is all accomplished through a set of digital communication controls that simplifies the resolving of open invoices.
Inviting elements to invoice management for small business
An integrated set of invoicing tools in your POS toolbox will present digital options to improve the timeliness of customer responses to your invoices. For example:
Easier invoice modification: This includes itemized cancellations, refund and return requests or to add newly requested products and services. These capabilities allow for rapid adjustments to be made, with the customer receiving a newly updated invoice just as quickly.
More digital invoice delivery methods: Having a paperless aspect to your invoicing solution helps limit the risks associated with physical invoice submission. Invoices will no longer be delayed by mail or delivery services, nor can they be misplaced or damaged, causing delays when new copies must be generated and mailed. Instead, a digital copy can quickly be present at the request of a customer, speeding up the payment process.
Online payment: From the perspective of the customer, the most exciting aspect of this is being given the ability to submit payment online in addition to receiving digital invoices. Invoice management software for small business can include a link that takes the customer directly to your payment portal, allowing them to conveniently pay an invoice using a business credit card. Once the transaction is complete, they will receive an email confirmation that can be referenced for their own record-keeping or if a return or refund ever be requested.
Available anywhere and everywhere
The best modern POS systems available in this market are designed to take advantage of the convenience and one-platform-serves-all practicality of the digital age. Where a catering company might have once run on a series of disconnected in-store cash registers and manual mobile records, a modern POS solution puts it all together in a single space. You can run all your customer-facing invoice management software for small business through the same broad platform so it’s all connected. It’s a small business one-stop-shop where you can combine digital tech and your physical home base together to build a better business.
With the right POS option, you can:
Take payments on the road, over the phone or in person
Use websites and smartphone apps so customers can reach you and make appointments
Track customer information, purchase orders, manage inventory and staff rosters from a single source
Reassure customers with the latest online security and protected transactions
The practical benefits of this digital POS approach become clear when you work through all the features of any particular part of a small business operation. Invoice processing for a catering service is a perfect example of how modernizing the core of your company can improve its overall performance.
Free invoicing included
Invoicing is among the most important aspects of running certain types of businesses. While it can seem secondary to customer service and the actual execution of a great event, invoicing is the legal center of your agreement with a client. It spells out all the details of what is expected and how much it will cost. It’s not the kind of thing you can leave to handwritten notes or on-the-fly decisions.
There are therefore obvious advantages to making invoice processing for your catering service a core part of your business operations.
Rather than separate customer payments from your purchase orders, staff management and other management tasks, you can instead integrate them and deal with everything at once.
Not only does this let you streamline your accounts, but you’re also effectively getting an invoicing solution for free. Why pay for a standalone service when you can use one that’s included in the subscription price of a system you are already buying?
That’s why it can be helpful to use invoicing software that’s built-in to your overall core POS system. In addition to this direct saving, you can also improve your bottom line indirectly by using an invoicing solution that is designed for the mobile nature of a catering business.
Invoice processing for mobile services
As a part of a management team, you may find you are dealing with customers across a range of locations, devices, and purposes. Every meeting is a potential future transaction, and every meeting requires you to use a professional level of business tools.
A digital invoicing service can give you the flexibility to bring your highest standards to every opportunity.
A recent study found that two out of every three small businesses now accept online payments. A modern invoicing system is essential to making online business work. The process certainly starts with the technology necessary to process a remote transaction, but without an equally efficient invoicing system you are inviting potential chaos into your company.
Processing customer payments and establishing accounts without having to meet in person throws open the chance to source new business from well beyond your immediate neighborhood. The exposure may even make possible large-scale catering jobs that require substantial travel—but with the details worked out remotely in advance you can be confident the effort is worth it to your bottom line.
In businesses such as catering, much of your operations are going to take place outside your office. When you have mobile invoicing and POS tech, you can close any sale and finalize any account at any point during the process—even if it’s a chance meeting at a supplier or venue.
When you’re constantly working to make things easy and convenient for your customers, it can pay to have a POS solution at your disposal that lets you conduct business to a professional standard whenever needed.
Make an innovative invoice processing system part of your strategy
Encouraging customers to quickly and easily satisfy the terms of the invoices you sent is a critical part of keeping your business running. Outstanding invoices can threaten your ability to maneuver your business strategy in response to changing market conditions and will throw your books out of balance, placing your budget and tax obligations at risk. You want invoices to get paid as quickly as possible, but doing so will require you to rethink the technology behind the invoicing curtain.
A solid invoice management software for small business starts and ends with simplifying the way payments are sought and processed. The invoicing solution that talech engineers have developed seamlessly integrates into our POS technology platform, ensuring you have a powerful set of tools working in harmony to improve revenue streams. Contact us today to sign up for a demo and to learn more about how talech can be your expert POS partner.
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