Businesses of all sizes need to look for ways to save time and money. Running an ecommerce business requires the business owners to maintain professional standards and create delightful experiences for customers. It is equally important to add necessary support and services for the business to get the customers to be satisfied and stay for longer. To do this one has to create beautiful looking website and add unique product and service offerings. The right set of tools would help in providing prompt customer services and professional approach for the customer to appreciate the services and also recommend them to peers. Online invoicing is one such way of building a positive image with customer. Online invoicing software which sends quick professional invoices to clients is an absolute essential now.
Let’s check the advantages of an invoicing solution for an ecommerce business:
1. Brand identity:
The more, the business showcases itself and the customers, the more is the recall and therefore the better chances of conversions. Ecommerce business has to engage with the customers on a regular basis. The business can add their logo, complete company details and other customized messages to brand presence and brand engagement with existing customers. Post-sale relationship building and word of mouth publicity is a result of such consistent efforts in making the customer feel important. Forwarding a thank you message once the invoice has been viewed or paid by the customer makes them feel they are buying from a genuine company.
2. Reduces errors and invoice disputes:
Manual invoicing to all the ecommerce customers may be almost impossible. Sending and verifying manual invoices may take a very long time and make the process unmanageable. The customers are looking for quick order placements and payments. Ecommerce customers are looking for professional services and any sort of mistakes are usually unacceptable to them. In this process, online invoicing comes to the rescue. Sending invoices online and having an automated verification process in place helps in reducing any chances of invoice errors or disputes. An invoicing solution ensures better customer support by providing a single dashboard to manage all the invoices.
3. Environmental friendly:
Saving paper and sending and storing invoices online, helps you going paperless and making your business more environment friendly. Adding this as a social initiative to your business, adds to your reputation among customers. This also saves office space as well, as these invoices are stored online; there is no need to stack up different files related to invoices, estimates and purchase orders.
4. Financial management:
An online invoicing solution helps in providing detailed financial reports for better management of company finances. Ongoing financial management and control is absolutely essential for an ecommerce business. Tax reports help in managing the cash flow for paying up the taxes on time. Client-wise invoice reports help in analyzing the sales and revenue from the respective clients. Expense reports are useful in analysing the expenses periodically and keeping them under control. This provides long term stability and growth for the system. Analysing detailed outstanding reports helps in forecasting the expenses with ease and planning expansions accordingly.
5. Simple auditing:
Appropriate recording and saving of expense receipts online, helps in getting necessary tax deductions and tax savings. A cloud invoicing solution helps you to save all your invoices, estimates, expense recipients and other related documents online. This makes the internal as well as external audit, extremely simple and time saving process. A transparent mechanism of saving all documents on the cloud helps the tax authorities to view and analyze them easily. This also saves time and effort in providing the necessary details to the authorities. Internal audit and expense tracking becomes easier, with proper documentation of all expenses and receipts.
Professional online invoicing integrated with your ecommerce platform, helps in sending automated invoices to the customer’s inbox, as soon as the sale gets completed. Sending manual invoices after tracking the sale manually, is time and resource consuming. The manual process is also fraught with risks of errors on the invoice. An integrated solution helps in both invoice generation as well as invoice verification. The solution also offers integrated payments, so the customer can make immediate payments, online. The whole process saves a lot of time and resources in sending out manual follow up mails and payment remainders. It also helps send recurring invoices for long term deals and subscriptions.
7. Easy access:
Online invoicing for ecommerce business makes it easier to access the invoices anytime, anywhere. The complete data is stored on the cloud and can be easily managed by logging in from any device. This ultimately makes management of invoices and estimates really simple and the process really flexible. Resolving disputes by accessing invoices and account statements from anywhere, improves the level of services that you can provide to the clients. Estimates and purchase orders can be sent to client anytime, anywhere in the case of urgency.
The greatest advantage that online invoicing has is automation. This means that you can set up recurring payments for long-term clients. You can also establish a subscription based business model. The automation system also sends follow ups and payment remainders for upcoming and past due invoices. Automating these tasks saves you a ton of time and money and you can focus on growing your business. You don’t need to pay someone else for all this administrative tasks. This eliminates the frustration of chasing down these payments.
Finally, online invoicing gives you and your business a more modern and professional look and feel. It provides an image and impression on your clients and customers. It is definitely going to help the delays and barriers to accepting payments. ‘Cash only’ method may be convenient to the business. But as a customer it is the most annoying thing because no customer always really carries cash. At such situations online invoicing comes to the rescue.
There are numerous ways to befit from an invoicing solution. But, to do so you should choose right tools that help to simplify the business process and improve business productivity. We, at Libra web solutions love helping businesses and we work you to expand your business online. We help with invoicing, time tracking and your overall business needs. If you need any help, contact us right now at email@example.com