5 Tips to Help Choose a Billing Software for Business
Whether you’re marketing your product range to end consumers or to other businesses, billing is a crucial part of your operations. You can bill an order by handwriting the details on a sheet of paper and using a calculator to sum the total or you can use a billing software for businesses. The latter doesn’t just reduce the risk of human error but also gives your invoices a professional look. It’s a sign that you take your business seriously. So, how do you choose the right software? Here are a few tips.
Understand what you really need
There are many different types of billing software. Some simply create bills while others can be integrated with accounting and scheduling software. Some are hosted on the computer itself while others are hosted on the cloud. So, think about what you need. For example, do you have a single store from where bills are to be generated or will there be multiple sites from where bills will be issued? An on-site software may be sufficient for the first case but in case of the latter, software hosted on the cloud is a better choice. Every business also have specific needs. For example, general contractors may need software that helps manage bids and cost for individual projects while doctors may need software that is linked to insurance systems.
How much can you afford to spend?
Sure, there are a number of free software packages available but they may not be the most reliable. Why would someone offer you a free service if they think their service is the best? There are a number of payment models for software. Cloud-based software may charge a monthly fee. If you pay in advance, you may get a discount. If you choose a system that is hosted by your server, the initial costs ay be higher but you won’t have a monthly outgoing. In some cases, it may be better to invest in billing and accounting software bundles to get a better price.
What features do you need?
Apart from simply being able to put together a bill, each billing software for businesses also offers additional features. For example, a software may allow you to play around with the format of the bill, another may allow personalization with logo placement while yet another may give you the ability to have your own invoice codes. Think about what you need and compare features accordingly. You should pay special attention to the security features.
How well can the software be integrated with your other systems
You are probably already using a number of other software. For example, you may use a software for inventory management, accounting, etc. Ideally, the billing software should be able to communicate with these other software. You should then be able to see data from all the software on a single dashboard. This makes it easy to manage and helps save time.
How easy is it to use?
A billing software should be easy to use. Your employees should be able to handle the software on their own without too much of special training. However, assume that you will face technical issues from time to time. Hence, you must also look into the after-sales service and technical help provided. How easily can you reach out for assistance and what is their average turnaround time?
Improper billing can affect your profit margins and keep your business from being successful. Many businesses have found that their cash flow problems are all caused by incorrect billing. Hence, pay attention to the software you use. Look for a billing software for business that can scale with your company’s growth and can be customized to your needs.