5 Reasons To Choose A Good Invoicing Software For Business

5 REASONS TO CHOOSE A GOOD SALES INVOICING SOFTWARE IF YOU ARE A SMB

 

“Status now isn’t whether you are awake or asleep, it is whether you are online or offline”. – Narendra Modi

With all the noise overwhelming the market world, things are changing to such an extent that many businesses, especially SMEs, are reluctant to commit themselves to new technologies. Even so, thriving through industry 4.0 with obsolete technology is near impossible.

With the introduction of GST, E-way bill, and new taxation policies using age-old billing and invoicing practices can be a huge setback for small and mid-size businesses (SMB’s). 

HERE ARE 5 REASONS WHY SMBS SHOULD CHOOSE A GOOD SALES INVOICING SOFTWARE:

·         HASSLE-FREE E-WAY AND E-INVOICE GENERATION

PROBLEM: Recently, The Government released the e-invoicing and e-way bill mandate which was implemented for taxpayers from October 1, 2020, as per e-invoicing notification.

What if half of your time is being wasted in the whole process from registration on IRP to generation of the bill? Won’t it lead to a decrease in the efficiency of your business?

SOLUTION: Online invoicing solutions effortlessly integrate with your billing systems in multiple ways and generate IRN with zero disruption to your business. One can share and communicate with the clients and suppliers alike while handling the whole correspondence in a hassle-free way with the GST systems.

It helps smoothly with both IRN and E-WAY BILL production and makes the whole process hassle-free!

·         INTEGRATED INVENTORY AND TAXATION WITH INTEGRATED ACCOUNTING

PROBLEM: Manual intervention and reconciliation cannot ensure effective inventory and taxation management.

 For Example- It is unlikely that your physical stock asset value matches your financial reports. Moreover, accurate annual reports and tax returns are critical for your investors and the government.

SOLUTION:  For both consumer and investor satisfaction, getting the correct amount of inventory stock on hand is vital. Customers want goods on demand and you risk losing the sale if you don't have those products available, and investors would want less working capital tied up in stock. Inventory and accounting system integrations are scalable and happen in real-time. With visibility over things happening in real-time, customers and supply chain partners have oversight and ensure that your financial reports are accurate.

 

·         EASE IN STATUTORY FILING

PROBLEM: As a GST registered dealer, you are required to provide GST Invoices, also known as bills to your clients. A tax invoice is generally issued to charge the tax and pass on the input tax credit.

In a GST era isn’t per-printed manual bills havoc?

SOLUTION:  You can create GST compliant invoices with utmost ease using  invoicing software online. They help in filing invoices, identifying errors before uploading GSTN, avoiding penalties, and claiming correct input Tax credits thus simplifying the whole statutory filing process for SMB’s.

·         FIRM TRACK OF RECEIVABLES

PROBLEM: To avoid default on payments/receipts, it is known that the record-keeping of the accounts receivable/accounts payable in the books is significantly necessary.

Don’t you find maintaining a correct account of the receivables/parables owed a daunting job?

SOLUTION:  To avoid default on payments/receipts, it is known that the record-keeping of the accounts receivable/accounts payable in the books is significantly necessary. Maintaining a correct account of the receivables/parables owed is a complex job. A good invoicing solution

·         MIS AND ANALYSES TO IMPROVE SALES

PROBLEM: In a global business scenario where sales are taking place every day, SMB’s often find themselves wedged when it comes to increasing sales. They often suffer from stagnant growth without having an idea of what is hindering it. Without proper statistics and analysis command on your sales is near to impossible.

Isn’t it exhausting to not get good results even with all your effort being taken up?

SOLUTION: The Sales Analysis module that comes along with your sales invoicing software, offers useful- buyer, salesperson, and company success statistics to the business owner and managers. The statistics will allow you to recognize patterns and desires that will help you manage your company, clients, and sales force better.

 

Luckily, relationships do not run on an enterprise but technology does. In an era where pandemic like COVID-19 is being treated, timing your invoices right isn’t far-reaching.

Great billing and invoicing solutions available in the market can easily alleviate the pain in the billing process, giving you more payment choices and speeding up your assignments.

 

Read It.. [ What Is GST Invoicing Software And How It Works? ]