In 2020, Americans filled 4.3 million applications to start a small business.
No matter when you started your business, now’s a great time to consider upgrading your tools—or investing in some for the first time. As 2021 draws to a close, it’s time to wrap up your fourth-quarter projects.
If you’re sending invoices by hand, stop! You could bill all your clients easily, quickly, and on time. Never misplace the copy for your records again: get invoicing software.
Today, learn how to select software for invoicing in five easy steps. But first, learn why you might use invoicing software—and everything else you need to know about digital billing.
Why Use Invoicing Software?
Invoicing software makes it easy to get paid. Many platforms let invoiced clients pay you instantly by credit card, so there’s no delay for your payday.
It also speeds up the whole process.
Streamlined Invoice Creation
Some invoicing software offers tools that streamline the act of creating an invoice itself. That can mean:
- Automatic invoicing
- Automatic follow-up
- Automatic record-keeping
- One-click calculation of shipping, discounts, and sales taxes
- Easily add line items (like common expenses)
Some software includes an invoice designer. You can create a readable invoice from a template, yet customize it with your own branding.
To see what that can look like, explore a library of invoice template free designs? Don’t be afraid to get creative!
Select Software For Invoicing in Five Easy Steps
There are easily over fifty invoicing apps, platforms, and digital programs out there. So how do you pick the right one for you?
Know Your Goal: What Problem Do You Want to Solve?
What is the problem you most urgently want this software to solve? Goals for your invoicing software might be:
- Get paid faster
- Invoice from your phone
- Save time by automating processes
- Minimize non-payment
- Decrease fraud
- Improve security
- Project a professional, on-brand image
Center your goal. Learn which key performance indicators (KPIs) tell you how well a feature moves you to that goal.
Determine Mission-Critical Features
With your goals in mind, read reviews. Seek out reviews where they demonstrate testing invoicing software.
Which features are most likely to get the results you want? Those are your mission-critical features.
Consider Premium Invoicing Software Features
Keep your ROI in mind.
How will a given feature add value? How soon will the added value provide a good return on the initial investment?
Ignore features that look cool. Strongly consider any feature that pulls your solution closer.
Invoicing Software Options: Scalability Matters
When you only have a few clients, it seems logical to choose a free invoicing software provider. But, free options have a fixed maximum number of invoices and price quotes allowed.
As you succeed in business, you’ll need to send more invoices.
It can be tricky to switch to a new program once you’ve already gotten used to one. Consider the value of platforms with unlimited options from the jump. Other factors to consider when scaling:
- Automation capacity
- Cloud storage space
- Template library space
- Cost per user
Plan for success!
Decide on a Budget—and Stick to It!
When comparing software costs, it can be tempting to shop outside of your range. Don’t.
Invoicing software options range from free to $149/month at the highest end.
Flat rate pricing gives you an advantage as you scale. But, free or per-user pricing lets you save money upfront. You won’t spend more until you make more.
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