Choosing and opting for the best custom billing software is one critical decision for the business. The complexity of choice rises even more when you have thousands of options available in the market. With the right solution, you can eliminate cumbersome manual processes and integrate with third parties that provide an ideal solution.
Major Challenges of Invoicing for Enterprises
The best enterprise billing software is the one that will help you overcome your enterprise invoicing challenges. In order to make sure you’re choosing the best custom invoice software, list down top challenges faced by your enterprise in invoicing. Here is a quick list of challenges faced by any organization.
Let’s now discuss in detail the invoicing challenges faced by enterprises:
- Lack of customization requirement as per your existing invoicing process.
- Payment & Invoicing approvals take too long.
- Lack of visibility into invoice and payment data.
- Lack of B2B communication which slows down the optimization of revenue and payments for the business.
- The traditional ERP systems are time-consuming with limited functionality.
- The complexity in the workflow management due to multiple bills processes and lack of staff analysis.
- Data Security.
- Spreadsheets are inadequate and prevent one from understanding at a detailed level. Also, financial reports appear to be more complicated.
- Increased customer anger with inaccurate billing tends you to check for better solutions that reduce the risk of de-bundling.
- Company branding over invoices.
Besides these, there is a slew of challenges in Enterprise Billing that reduce efficiency and add unnecessary costs. Despite all these challenges, implementing automated systems is easier than ever. But you need to find out what works best for you?
Solutions are changing! How to start the journey?
Choose enterprise billing software to help manage the requirements of your enterprise. To meet the above challenges here is an overview of invoicing features for large enterprises:
Bespoke invoicing:
- Customized invoicing solutions, according to specific business requirements
- Add functionality requirements and improve business productivity
Complete control with self-hosted solutions:
- With on-premise server, the data remains with you and have complete control over your invoicing data
- Efficient hosting business to your customers and branding solutions
Automated Payments:
- Auto bill profiles can be created for easily receiving automatic payments on a monthly invoices
- Auto credit adjust can be used by clients for making advance payments
Integration with legacy systems:
- Integrate Invoicera with your e-commerce platform and automate your e-commerce invoicing
- Limitless possibilities to improve business processes with API integrations
- Integrate with legacy ERP and CRM solutions
- Integrated systems are highly efficient and help in optimum resource utilization
Invoice for multiple business units:
- Manage and send invoices of multiple businesses and products from a single dashboard
- View and track all invoices with a highly efficient process
Complete B2B communication
- Manage invoices, purchase orders and expenses with ease
- Send out all documents in a timely manner
- Send and receive purchase orders and convert them into invoices
- Manage buyers and vendors in a single place
- Receive invoices and estimates from your vendors
Improve productivity with custom work-flow management
- Derive a custom workflow for your business
- Reject and approve expenses that defines the workflow
Receiving payments globally:
- A variety of global payment gateways are available to choose from
- Faster payments and smooth process
- Payments can be received with ease, from the client across the globe
Time & Productivity reports:
- Employee productivity can be analyzed with time tracking reports
- Productivity benchmarks can be defined and implemented
Data backup and Security:
- Safe and secure data
- No data loss occurs due to technical glitches
CONCLUSION
The enterprises require cloud-based billing software that can keep the pace of business. The profitability of any account depends on the cash flow. The key factor for the revenue growth in enterprises includes new technological advances with innovative solutions to gain an overall competitive advantage.
Related post: Tips To Choose an Electronic Invoicing Software
Invoicera turns out to be a highly recommended Custom billing software with the ever-growing user base of 3 million users till now. It consists of supported features from online invoicing, time tracking, purchase order, estimate management, expense management, financial reports, Custom invoice templates, Credit Notes, project/task management, staff management to Custom workflow management and more.
For additional benefits, business owners should opt for custom billing software.
